Meta Trends - 2024 (TL;DR)

In 2024, the advertising sector is poised for transformative changes, marked by several key trends:

1. Expansion of Shoppable TV and Streaming Advertising: Shoppable TV is expected to see significant growth. Streaming platforms like Roku are intensifying their focus on commerce within streaming, leading to a surge in interactive and shoppable advertisements.
2. Data as a Central Strategic Element: The growing availability of real-time consumer data and marketing insights is transforming marketing into a key strategic and business planning function. Access to quality data will lead to better decision-making and growth opportunities. However, challenges in data activation are anticipated due to the decline of deterministic identifiers, complicating audience targeting and performance measurement. The evolution of retail media networks and their integration with ad buying systems will be crucial.
3. Transition from Traditional to Streaming Platforms: Advertisers are increasingly shifting from conventional linear TV to streaming services. This move, often referred to as 'cutting the cord', is driven by the broader reach and enhanced interactivity offered by streaming platforms.
4. Synergy between Retail Media and TV Streaming: Retail media and TV streaming, currently operating in silos, are anticipated to synergize, enhancing the connection between retail media and connected TV advertising and boosting ad spending in these domains.
5. Increase in Co-viewing on Streaming Platforms: Co-viewing is gaining traction on streaming platforms, influencing advertisers to craft more engaging and targeted campaigns.
6. Consolidation in Retail Media Networks (RMNs): An expected merger and expansion of RMNs is on the horizon, with larger networks maintaining independence and smaller ones potentially merging, aiming for more effective multi-platform advertising campaigns.
7. Advancements in AI and Data-Driven Advertising: AI's role in advertising is set to grow, facilitating research, campaign planning, and content distribution, leading to more efficient and personalized advertising methods.
8. Influence of Consumer Spending on Ad Spending: Driven by the 'YOLO economy', where consumer spending focuses on immediate satisfaction, a significant 8.2% growth in global advertising spending is predicted, exceeding $1 trillion for the first time.
9. Development of Shoppable Storefronts by Retailers: Retailers are likely to create shoppable storefronts for streaming campaigns, capitalizing on the trend of direct purchases from ads across various platforms, thereby transforming TV streaming into a key e-commerce channel.
10. AI and Machine Learning in Content and Customer Service: These technologies will greatly influence content creation, customer service, and predictive analytics. Enhanced by the rapid increase in computing power, they will offer more immersive experiences and bolster sales and marketing efforts. Businesses with sophisticated insight-driven capabilities are more likely to see significant growth. This highlights the critical role of leveraging data and insights for strategic business decisions, particularly in times of uncertainty and rapid change.

While generative AI is set to revolutionize the tech industry, affecting areas like video game development and cybersecurity, these trend points to AI becoming an essential part of technological strategies. Furthermore, aforementioned trends indicate a major shift towards digital, interactive, and personalized advertising, utilizing streaming platforms and AI. The merging of retail media and streaming, coupled with the growing importance of data-driven advertising, suggests a more integrated and immersive advertising experience in 2024.