Cloud gaming services have set the style while moviegoers are expecting high quality productions with engaging visual effects and realistic animation.
In addition to entertainment, VFX is now sort after in video productions as a means to demonstrate, instruct and promote.
VFX works with online advertising.
Demand for VFX (visual effects) and animation has increased, the power of visual immersive experiences growing exponentially around the world. Rapid advancement of technology has made animation, VFX available to the masses via gaming, an industry that has become one of the fastest growing segments in the global media and entertainment market. Increasingly we see more video production work and content producers choosing VFX to present a message: to inform, demonstrate, instruct, and entertain. Companies have discovered that video advertisements created using VFX are effective marketing tools.
Animation market size
Total value of the global animation industry in 2017 was US$254 billion, projected to reach US$270 billion by 2020. Most of the segments in the animation industry are growing rapidly at the rate of 2% year-over-year. Spending on special effects as a percent of production cost is about 20%–25%.
Traditional content viewership is giving way to a sharp increase in streaming video consumption. The streaming market size for animation content was US$2.4 billion in 2017, growing at an annual rate of 8%. The global video gaming industry was worth US$92 billion in 2017. Global eSports industry is growing at the rate of 30% year-over-year and is predicted to be a billion-dollar industry by 2019.
VFX strategies, trends, opportunities, advertising
Global consumers are displaying a growing appetite for engaging, high-definition visual experiences. Cloud gaming services have set the style while moviegoers are expecting high quality productions with engaging visual effects and realistic animation. Studios are including more animation and VFX shots into films. Consumers are engaged with more immersive content across channels such as ultra-high-definition TVs, tablets and smartphones to head mounted devices.
Creating a series of short 5–15 second high-quality advertisements are becoming increasingly popular with the rapidly growing online advertising market. By using a mixture of video, animation and music you can be sure to capture the viewers attention.
Channels, social media
Animation, VFX and games content is viewed on YouTube, Twitter and Facebook as well as other channels. With growing internet penetration and access to multimedia devices, customers are spending more time on streaming digital content. Streaming video is the fastest growing segment distribution channel for animation and is attributed to the exponential growth in the number of online video viewers throughout the world.
How would a VFX production work for your next marketing campaign?
This post was adapted from an article published by Research and Markets.