BofA offers “monstrous” promotion
Bank of America’s special coupon promotion of DreamWorks Animation SKG’s upcoming “Monsters vs Aliens” is raising eyebrows even before viewers don their special 3-D glasses for the flick.
“We find it odd that a bank that just received $45 billion in government aid is paying for consumers across the U.S. to see a movie in 3-D vs 2-D at no extra cost,” said Pali Research analyst Richard Greenfield in his blog.
Greenfield also ponders whether DreamWorks president Lew Coleman, who happens to be Bank of America’s former vice chairman and CFO, had a role in getting the bank to run the promotion. Monsters vs Aliens stars Kiefer Sutherland (pictured above), or at least his voice.
DreamWorks declined comment, but directed inquiries to spokesman Joe Goode at Bank of America, who said the news spin on the promotion, which had amounted to a marketing investment of $175,000 for the bank, had reached “monstrous” proportions.
“The cost to us is very minimal. This is a strategic marketing decision, independent of our business relationship with DreamWorks. It is a terrific platform to reach the family and female demographic,” he said.
“We know Americans are looking for opportunities to save, given the current state of the economy. This offer gave us a way to pass along some savings to customers at a very little cost to the bank and reward them for their business and loyalty,” Goode said.
The bank is promoting the film at 6,100 banking centers and 18,000 ATMS, but anyone an participate as long as they have an e-mail addres in the promotion which provides up to 4 certificates per e-mail address to upgrade from 2-D to 3-D via the online registration form, while supplies last.
Bank of America is providing a total of 80,000 coupons through the offer which expires on May 29 or before if supplies run out. 3-D movies are expected to a premium of as much of $5 per ticket compared with regular movie tickets.
Monsters vs Aliens opens March 27th.
(Photo Reuters/actor Sutherland promoting Monsters vs Aliens in Berlin)