Global Data Market News - May 3rd, 2024

Why Privacy Sandbox Testers Are Relieved Google Delayed The Cookie’s Demise

Testers of Google's cookie alternative, the Chrome Privacy Sandbox, were relieved by the delay in the demise of third-party cookies. More than 350 issues remain open in Privacy Sandbox GitHub repositories, with concerns voiced by programmers. The UK’s Competition and Markets Authority (CMA) has given ad tech vendors and publishers until the end of June to submit feedback on the Sandbox rollout.?

Source: AdExchanger

Google Seeks to Throw Out Antitrust Case

Google has urged a federal court in Virginia to dismiss a U.S. government lawsuit alleging anticompetitive practices in the online advertising market. The lawsuit, filed by the Justice Department in January 2023, claims that Google's dominance allows it to keep a significant portion of advertisers' spending, favoring its own tools.?

Google argues that the lawsuit manufactured a market and has requested summary judgment to end the case without trial. The trial is set for September in Virginia federal court, with a separate trial in Texas in 2025 for similar accusations.

?Source: ExchangeWire

58% of advertising profitability occurs after the first three months'

A study commissioned by Thinkbox reveals that 58% of advertising's total profit generation occurs after the first 13 weeks. The research, based on collective data from several sources, covers ￡1.8bn of media investment in the UK across 10 media channels, 141 brands, and 14 categories. The study highlights the profitability variation by media, with TV advertising emerging strongly, accounting for 54.7% of the full advertising-generated profit.?

Additionally, the UK advertising market grew 6% to ￡36.6bn in 2023, with a forecasted ad spend rise of 5.8% in 2024 to ￡38.8bn and a prediction that the UK's ad market will exceed ￡40bn by 2025. The forecast includes expected growth in TV, radio, and cinema advertising, attributed to events such as the men's UEFA Euros tournament and a looming General Election in the UK.

Source: Warc

Behavioral Data A Mystery For Some Marketers

Forrester Consulting's study found that 75% of marketers extract insights from customer behavioral data, but over 60% do not include these signals in their customer engagement strategies.?

The research, based on a survey of 1,203 decision makers globally, highlights the importance of integrating advanced customer behavioral data into personalization efforts, which could lead to improvements in key performance indicators. However, challenges persist, with 67% facing an excess of point solutions, 65% struggling to act on insights, and 58% finding it difficult to tie these signals across the customer journey.

Source: MediaPost

U.S. Ad Market Expands For 11th Month In March

According to Magna's forecast, the US advertising market is expected to grow by 9.2% to reach $369 billion in 2024, largely driven by political campaigns. This growth is influenced by factors such as the Citizens United Supreme Court decision and the increasing presence of digital media in the advertising landscape.?

The forecast also reflects a surge in digital advertising, with political ad spending expected to grow significantly, despite traditional media, particularly linear television, continuing to dominate political ad spending.?

Source: MediaPost