Skip to content
Information Technology

Mediaocean Announces Findings from 2024 Advertising Outlook Report

Mediaocean 4 mins read

Survey of 1,000+ leading brands, advertising agencies, media providers, and tech companies signals innovation and creativity will prevail in 2024 as marketers increase spending across all channels

NEW YORK, Jan. 04, 2024 (GLOBE NEWSWIRE) -- Mediaocean, the mission-critical platform for omnichannel advertising, has released its 2024 Advertising Outlook Report, with all signs pointing to a prevailing focus on innovation and creativity in the new year. Overall, the findings show that despite macroeconomic headwinds holding over from 2023, optimism pervades the advertising industry. Omnichannel marketers, in particular, anticipate an active year, affirming their intent to maintain or increase spending in nearly every channel.

Examining key trends in media and advertising, the survey revealed that certain platforms stand to grow most significantly in 2024. For example, the report shows that not unsurprisingly, social media, digital display/video, and connected TV (CTV) are the frontrunners heading into the year, based on a sustained, surging investment that naturally mirrors consumer engagement and time spent. Specifically, 69% of survey-takers report that in 2024 they will increase social media spending, 65% for digital display/video, and 56% for CTV in 2024. At the same time, the number of marketers maintaining their investments in these channels is 28%, 30%, and 36%, respectively.

“There is a lot to dissect in this year’s survey with regard to the marketing funnel and the consumer journey. For instance, even though direct-response campaign performance remains a top priority for marketers tasked with delivering tangible ROI, brand advertising is gaining momentum,” said Aaron Goldman, Chief Marketing Officer at Mediaocean. “Companies are taking a longer-view approach to driving customer loyalty and lifetime value. Even so, marketers are very aware that a prevalent gap remains between creative and media execution. If not addressed, this gap negatively impacts team workflow, messaging relevance, and market intelligence. So, resolving this gap and embracing the tools and systems required for doing so absolutely will be the largest growth opportunity for brands this coming year. ”

Overall, the highly-anticipated report highlights the forces driving the advertising economy as seen by industry leaders, including the macroeconomic spending trends of 2023. This is the fifth installment of bi-annual market reports produced by Mediaocean and features the largest base of respondents, nearly 1,100 total, delving into key media and technology trends as well as channel-specific 2024 projected advertising investments. Mediaocean primarily surveyed marketers and agencies but also included perspectives from media companies, measurement firms, tech platforms, and other industry cohorts.

"2024 will be a most consequential year and deliver unprecedented innovation in the advertising industry," said Bill Wise, Chief Executive Officer at Mediaocean. "As we navigate the challenges of data deprecation, antitrust regulation, and privacy protection, there is a massive opportunity for brands to reduce their reliance on Big Tech and leverage independent technology for everything from media buying to ad serving to omnichannel measurement. Embracing the scaled tools and systems required for this alignment will be the key to driving customer loyalty and lifetime value."

In addition to illuminating overall optimism and positive spend trends across channels, the survey underscored a rising focus on AI and waning interest in the Metaverse. The report highlights that Generative AI has not only captured everyone’s attention but has also led to a shift in focus and resource allocation. The analysis suggests that 2024 promises to be the year that AI moves from speculative use cases to practical, day-to-day applications, particularly in the areas of data analysis and market research. Respondents indicated that AI will become an increasingly integral part of daily workflows and serve functionals well beyond content generation.

For a full review of all key takeaways, please visit https://www.mediaocean.com/the-2024-advertising-outlook-report to download the complete Mediaocean 2024 Advertising Outlook Report. Additionally, Mediaocean will present the research during a webinar on January 18 with Joanna O’Connell, EVP Innovation at R3, and agency executives from dentsu, Initiative, and Jellyfish sharing their assessments of the imperatives for marketers. Please visit https://www.mediaocean.com/mediaocean-current-2024-advertising-outlook to register.

About Mediaocean
Mediaocean is powering the future of the advertising ecosystem through technology solutions that empower brands and agencies to deliver impactful omnichannel marketing experiences. With over $200 billion in annualized spend managed through its software, Mediaocean uses AI and machine learning to control media investments, optimize creative assets, and improve business outcomes. The company’s advertising infrastructure and ad tech tools are used by more than 100,000 people globally for everything from planning, buying, ad serving, and creative personalization to campaign analysis, optimization, invoices, and payments. Visit www.mediaocean.com for more information.

Media Contact:
Kendall Allen Rockwell
Broadsheet Communications for Mediaocean
kendall@broadsheetcomms.com

 


Primary Logo

More from this category

  • Animal Animal WelfareRights, Information Technology
  • 25/06/2024
  • 07:00
UNSW Sydney

Conservation scientists use AI to count flamingos

Counting half a million flamingos using machine learning helps establish the significant conservation importance of the Makgadikgadi Pans in Botswana. Scientists from UNSW Sydney’s Centre for Ecosystem Science have found a way to use artificial intelligence to accurately count hundreds of thousands of flamingos in Botswana, making future surveying of numbers of this iconic species – and potentially other bird and mammal species – much easier. Published recently in the journal Global Ecology and Conservation, the research team estimated there were 532,197 flamingos on the northern basin of Sua Pan, the eastern pan in the Makgadikgadi Pans in Botswana, using…

  • Information Technology, Insurance
  • 24/06/2024
  • 09:00
Qikio

Qikio partners with Mercurien to expand commercial car insurance offerings?

Qikio, an insurtech dedicated to providing cutting-edge insurance solutions, is excited to announce a strategic underwriting partnership with Mercurien, an Australian company with a…

  • Contains:
  • Information Technology
  • 19/06/2024
  • 16:33
Gigamon

Gigamon Research Reveals Global Security Leaders are Losing Ground in the Race Against Cybercrime as Undetected Breaches Rise By 20 Percent

New research shows 1 in 3 organisations were unable to detect a breach in the last 12 months, with just 25 percent able to respond in real time Gigamon, a leader in deep observability, today published its 2024 Hybrid Cloud Security Survey, revealing that organisations around the world are still unprepared for modern, sophisticated cyberthreats. The annual survey of over 1,000 Security and IT leaders across Australia, France, Germany, Singapore, UK and the USA, shows a decline in detection and response capabilities year-on-year compared to the company’s 2023 Hybrid Cloud Security Report. As hybrid cloud environments grow in complexity and…

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.