Legal advice and litigation in respect of television product placement could boost City firms’ income next year, after the government said it will consider lifting an existing ban.

The government’s announcement has stirred interest among law firm media and marketing practices. Stephen Groom, consultant and head of marketing and privacy at south-west firm Osborne Clarke, said that he is looking to grow its marketing group and bring in ‘entry-level talent’ to take advantage of a potentially ‘significant’ uplift in advisory fees.

Giles Crown, partner and head of media, brands and technology at City firm Lewis Silkin, said that he will increase staffing next year if TV product placement takes off.

Presently, broadcasters cannot take money for product placements within TV programmes. Culture secretary Ben Bradshaw said that the government ‘would hope to have any change in place in the New Year’. The ban will remain at the BBC.

Media commentators predicted that the industry could be worth between £75m and £100m per annum.

‘The whole issue hasn’t set the media industry alight just yet,’ said Groom, ‘but if the production companies warm to the idea, we will see a slow pickup throughout 2010 if the ban is lifted.’

Speaking to the Royal Television Society last week, Bradshaw said: ‘We are [not] interested in regulation for regulation’s sake, which is why I want to change our approach on product placement…we are determined to maximise the future potential of the broadcasting industry.’

Media companies and agencies are interested in TV product placement to boost flagging advertising revenues.

Image courtesy of Rex / 20th Century Fox