According to the March 2024 forecast, total media ad spending in the US is projected to reach $389.49 billion this year, indicating a robust market. Driven by digital growth, media ad spend is expected to increase by 6.8%, surpassing $400 billion by 2025.
Advertisers face a complex landscape, with new AI-powered tools, advances in attribution, and more cautious consumer spending patterns.
The three major trends in media ad spending for the second half of 2024:
Short-form video: Creating consumable content is an excellent way to engage with your consumers and communities. Even though a TikTok ban is not currently in place, advertisers should be aware of its possible implications and prepare accordingly. This might involve shifting to other vertical video platforms like YouTube Shorts or Instagram Reels, or trying out ads on streaming TV or audio channels.
Connected TV: Viewers are platform agnostic, choosing streaming platforms based on the content rather than the platform itself. Therefore, it is crucial for advertisers to ensure their ads are viewable across all content their audience consumes.
AI: We are witnessing a shift among media providers who are leveraging AI for a variety of applications, including content generation, creative development, and targeting.
Investing in Ad Spend for your business is a crucial step in planting the entity of your work to those it would most likely create greater engagement with. Reach out to our team to find out how this would greatly benefit the success of your company, and which avenues to explore suit you best. https://snip.ly/kuw88g
Attended University of Sri Jayewardenepura
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