2024 Advertising Outlook Report
2024 Advertising Outlook Report
2024 Advertising
Outlook Report
Key insights on marketing trends that will impact the coming year, with
data gathered from 1,000+ leading marketing industry professionals.
Table of contents
Introduction........................................................................................ 3
2 ©2024 Mediaocean
Introduction
Thank you for reading Mediaocean’s 2024
Advertising Outlook Report. These insights
reflect input from more than 1,000 customers
and partners, focused on key consumer
and technology trends along with 2024
projected media investments. We primarily
surveyed marketers and agencies, but also
included perspectives from media companies,
measurement firms, tech platforms, and other
industry cohorts. This is the fifth in our series of
biannual market reports, with the first published
at the end of 2021. The most recent data points
used in this research are based on surveys
conducted in November 2023.
3 ©2024 Mediaocean
Foreword by
Joanna O’Connell
We continue to weather uncertain storms as a global
community, but there is light. While geopolitical strife
and conflict continue to cast massive shadows, the
COVID-19 pandemic has waned and the economic picture
around the world shows signs of potential stabilization.
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Foreword (cont.)
But effective measurement is fundamental to making strategic For my part, I’m approaching this new year with
investment decisions, in the day to day and over time. So as global optimism and curiosity—for the exploration we’ll
head- and tailwinds ebb and flow, long-term thinking is paramount. continue to do as an industry, for the new questions
(I say this also seeing in the data that media and creative remain far we’ll ask, and for the progress we’ll make to ensure
too disconnected—this is a gaping hole, strategically and tactically.) that advertising creates value for everyone it touches.
And while the use cases are near-infinite, respondents are moving
cautiously when it comes to business applications—data analysis and
market research top the list while other seemingly popular use cases
like copywriting and image generation, much less so. Given the myriad
open issues with Gen AI use—copyright questions, model opacity/
transparency concerns, potential bias issues and more—this feels
appropriate, at least today. In the absence of clarity, it’s incumbent upon
employers to help guide their employees—through clear governance on
when, how, and within what set of guidelines—they can most effectively
and responsibly harness Gen AI applications at work.
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For each media channel below, do you expect to increase,
Macro ad spend decrease, or maintain your spend for the coming year?
trends reflect
industry optimism Increase Maintain Decrease
increasing are Print and TV. Clearly this is a commitment 38% 32% 34%
Retail media 59% 58% 58%
among the advertising community to a diverse mix of
3% 10% 8%
media channels, and we’ve seen a focus on omnichannel
25% 31% 32%
execution emerge over the past few years.
OOH / DOOH 66% 55% 58%
9% 14% 10%
While every channel holds its own significance, certain
24% 25% 24%
platforms are poised for exceptional growth in the coming Radio / Audio 61% 51% 54%
year. Unsurprisingly, social media, digital display/video, 15% 24% 22%
and connected TV (CTV) emerge as the frontrunners, 21% 12% 14%
seeing a continued surge in investment that mirrors National TV 66% 58% 59%
consumer engagement and time spent. 13% 30% 27%
20% 9% 11%
In 2024, 69% of survey-takers are planning to increase Local TV 65% 55% 56%
15% 36% 33%
social media spending, 65% for digital display/video,
and 56% for CTV in 2024. Meanwhile, the number of 10% 5% 7%
Print 56% 45% 49%
marketers maintaining their investments in these channels
34% 50% 44%
are 28%, 30%, and 36% respectively.
Source: Mediaocean 2024 Market Outlook Report
Methodology: Survey of 1,000+ marketing professionals conducted through TechValidate in November, 2023
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Focus on AI
comes at expense What are the most important consumer
of Metaverse trends you’re watching for the coming year?
(Select all that apply)
In our October 2022 survey, when we first asked about November 2023 May 2023 October 2022
53%
Generative AI wasn’t an option in our 2022 survey as CTV / streaming 57%
it was not on anyone’s radar as a top consumer trend. 54%
But it was the most popular answer in our latest survey, 49%
with 57% of respondents calling it out. It’s clear that the TikTok / social video 48%
rise of ChatGPT and other apps built on large language 63%
models have caught the fancy of marketers and resource
40%
allocation has followed. In turn, the focus of companies E-commerce everywhere 35%
like Meta that were investing heavily in the Metaverse 47%
have shifted to AI.
30%
Consumer privacy 32%
While the survey metrics suggest a declining interest
35%
in the Metaverse, new innovations and use cases
abound. Mark Zuckerberg and Lex Fridman, for instance, 21%
recorded an entire podcast using photorealistic Kodak Gaming 26%
14%
As we move forward, let’s heed the lessons of our survey’s Political & advocacy trends 15%
journey—a tale of trends, shifts, and the enduring quest 15%
for consumer engagement. The metaverse may be down,
but it’s certainly not out. And, as for Gen AI, if 2023 was
the year it emerged, 2024 will be the year it breaks out. Source: Mediaocean 2024 Market Outlook Report
Methodology: Survey of 1,000+ marketing professionals conducted through TechValidate in November, 2023
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Current Recognizing the challenges posed by the say/do gap, OpenAI
has taken a proactive step. Enter custom GPTs, a groundbreaking
applications of AI solution that allows users to tailor these powerful tools to their
focus on research specific use cases and needs. This strategic move aims to bridge
and analytics over the gap and, over time, eliminate the discrepancies between
what is promised and what is delivered in the realm of AI.
content generation
The journey to bridge the AI divide has begun, and
the destination holds the promise of more accurate,
In a strategic pivot, we adapted our approach to AI questioning,
context-aware, and creatively rich AI-generated content.
transitioning from potential use cases to the practical, day-to-
day applications that businesses and individuals are currently
embracing. The results are illuminating, showcasing a shift in
focus that mirrors the evolving landscape of AI utilization.
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In which areas do you see the biggest How are you currently using
potential with Generative AI in marketing? Generative AI in your marketing?
(Select all that apply) (Select all that apply)
Other 15%
Source: Mediaocean 2024 Market Outlook Report Source: Mediaocean 2024 Market Outlook Report
Methodology: Survey of 1,000+ marketing professionals conducted through TechValidate in November, 2023 Methodology: Survey of 1,000+ marketing professionals conducted through TechValidate in November, 2023
9 ©2024 Mediaocean
Brand advertising
investment
continues to This signals the continued need for innovative solutions and
improvements in advanced analytics, AI-powered attribution
accelerate models, and omnichannel measurement solutions. These hold
the promise of providing advertisers with the insights needed
While performance-driven paid media continues to bridge the gap between brand impact and tangible results.
to hold its ground as the most critical investment,
a focus on brand advertising has steadily intensified
over the past three surveys, painting a compelling
narrative of shifting priorities.
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Given current macroeconomic conditions, which What are your largest areas of concern in
advertising capabilities and media investments your media and marketing initiatives?
are most critical? (Select all that apply) (Select all that apply)
November 2023 May 2023 October 2022 November 2023 May 2023 October 2022
50%
Measurement &
52%
attribution capabilities
41% Lack of preparedness for 39%
cookieless future and other data
39%
47% deprecation relating to consumer
37%
Brand advertising 42% privacy and walled gardens
36%
29%
37%
Creative testing & analysis 28% Consumer ad 36%
22% avoidance / ad blindness
29%
28%
First-party data mastery 28%
26% Poor ability to manage 36%
24% reach & frequency across 36%
Automation CTV and digital channels 26%
24%
22%
23% 33%
Demand generation Loss of access to
23% 33%
third-party data
24% 32%
23%
Experimental /
innovation budgets 25% 25%
Talent retention /
21% 25%
access to expertise
29%
22%
Privacy 25%
21% 2%
Other 9%
13% 1%
Identity 13%
16%
Source: Mediaocean 2024 Market Outlook Report Source: Mediaocean 2024 Market Outlook Report
Methodology: Survey of 1,000+ marketing professionals conducted through TechValidate in November, 2023 Methodology: Survey of 1,000+ marketing professionals conducted through TechValidate in November, 2023
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The ability to activate campaigns consistently across various
The creative- devices, formats, and ecosystems is pivotal. A comprehensive
media gap Creative Ad Tech stack that seamlessly integrates with
current platforms and collaborates with partners across both
persists creative and media realms empowers teams to effectively
bridge the existing creative-media gap.
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Conclusion
2024 is shaping up to be a year of innovation and creativity.
13 ©2024 Mediaocean
About Mediaocean About Flashtalking
Mediaocean is powering the future of the advertising ecosystem Flashtalking unleashes the power of creative to make media
through technology solutions that empower brands and agencies work better. As the leading independent ad tech platform for
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over $200 billion in annualized spend managed through its Flashtalking bridges the gap between creative and media.
software, Mediaocean uses AI and machine learning to control Flashtalking’s solutions operate at scale across CTV, Video,
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outcomes, The company’s advertising infrastructure and ad tech existing technology stacks to optimize campaigns through DSPs,
tools are used by more than 100,000 people globally for everything DAMs, ad servers, verification providers, measurement tools,
from planning, buying, ad serving, and creative personalization and more. As part of Mediaocean, Flashtalking is tied into the ad
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