Mediaocean, the mission-critical platform for omnichannel advertising, released the findings from its 2024 H2 Market Report. This sixth edition of Mediaocean’s bi-annual report series presents the largest pool of respondents to date, with responses from over 1,200 marketing professionals. The insights reflect key consumer and technology trends shaping the advertising landscape for the remainder of the year.
The report highlights the rise of Connected TV (CTV) as the top consumer trend, effectively overtaking AI, which now holds the second spot. As viewers turn toward more affordable ad-supported options for streaming, even greater opportunities are emerging for advertisers. Additionally, the research indicates a significant shift towards performance-driven paid media, indicating the industry’s intensified focus on accountability and return on investment amidst evolving macroeconomic conditions.
“Performance-driven paid media has emerged as the dominant focus for advertisers, reflecting industry-wide scrutiny on channels that deliver measurable business outcomes,” said Aaron Goldman, Chief Marketing Officer at Mediaocean. “To thrive in the final months of this year, advertisers must prioritize creative ad tech solutions that use AI and automation to meet consumers in the moment with relevant messaging and orchestrate consistent omnichannel experiences.”
Notable findings from the Mediaocean 2024 H2 Market Report include:
- CTV and Streaming as Critical Consumer Trends: More and more households are cutting the cord and turning to streaming platforms for entertainment, opting for more affordable ad-supported tiers.
- Omnichannel Advertising Dominance: As brands continue to invest in advertising to drive growth, increased spending across channels is expected to continue for the remainder of the year, with paid social, search, and CTV seeing the largest gains.
- AI and Automation in Ad Tech: After years of hype, marketers are now focusing on the practical implementation of AI-driven automation solutions in ad tech. Data analysis and market research remain the top use cases for Generative AI, followed by copywriting and image generation.
- Acceleration of First-Party Data Strategies: With growing consumer demand for privacy and changes to how third-party cookies are managed, 2024 has seen a major uptick in multi-ID advertising, with leading brands now prioritizing first-party data strategies in their digital marketing efforts.
The 2024 H2 Market Report illustrates a transformative period for the advertising industry, driven by technological advancements, evolving consumer behaviors, and a sharper focus on performance metrics amid a turbulent market continuing into 2024. These insights serve as a crucial guide for advertisers aiming to navigate the complexities of the modern market. The research also includes breakdowns by various industry vertical sectors, including Automotive, Consumer Packaged Goods (CPG), Direct to Consumer (DTC), Education, Entertainment, Financial Services, Quick Service Restaurant (QSR), Retail, Technology, Telecommunications, and Travel. Visit https://www.mediaocean.com/2024-h2-market-report to download the complete report.
Mediaocean will host a webinar on August 28 to explore these findings further. This exclusive deep-dive session will feature W Media analyst Karsten Weide and Deborah Wahl, a Forbes CMO Hall of Fame member, former SVP and CMO of General Motors, and current Mediaocean Board of Directors member, who will also join the conversation.
The discussion will center on the impact of macroeconomic conditions on advertising spending, key consumer trends such as CTV, use cases for generative AI, crucial investment priorities, insights into ad verification, and more. Go to https://www.mediaocean.com/mediaocean-current-2024-h2-advertising-research to register for webinar live viewing.
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