Marketers take note: On March 2, the Academy Awards will shine the world's brightest spotlight on stars like Best Actress nominees Meryl Streep and Sandra Bullock, as well as a variety of films with mature themes, proving Hollywood gets the power of marketing to Boomers.
Powerful Performances by 50+ Stars
"This year's nominated actors are much older than usual," according to Academy Awards expert Tom O'Neil, founder of GoldDerby.com, Hollywood's original awards site which launched in 2000. "Look at the Best Actress race where the average age is 55. Often, that category is a parade of young babes, but this year voters put primary focus on talent, regardless of age."
"All but one of the 10 (nominees for Best Actor/Actress) are out of the 18-to-35 'sweet spot' that advertisers still strive to reach," adds Brent Bouchez, Founder of BouchezPage, an agency devoted to creating marketing for adults.
Big Films Targeting 50+ Consumers
"Not a single one of the films nominated for Best Picture this year is a sci-fi fantasy or Gen-X Romantic Comedy. Instead, six of the nine films are based on true historical events; two -- Nebraska and Philomena -- are anchored by outstanding nominated performances from iconic acting legends (Bruce Dern and Judi Dench, respectively)," says Peter Hubbell, Founder & CEO of BoomAgers, a creative services company which specializes in the Boomer market.
The Bottom Line
Simply put, marketing to Boomers and older consumers pays off. After all, the 50+ demographic has the strongest spending power, accounting for $3.2 trillion of annual spending, according to the latest U.S. Census Consumer Expenditures Survey.
Bouchez adds that Hollywood "is keeping pace with reality. The world is aging and becoming smarter... but advertising assumes that everyone wants to be 25, a mistake Hollywood is too smart to make."
And the Oscar Goes to...
Regardless of who takes home Oscar gold on March 2nd, movie studios will win as audiences flock to see the nominated films starring and celebrating the 50+ demographic.
Hopefully, another big winner will be marketers across a variety of industries, who can learn from the 86th Academy Awards and increasingly court this incredibly valuable demographic in the same way they target Gen X and Millennials.