The Power of Audio - 1/2 Weekly Report

We are back with another industry report!

The State of Marketing Report 1

·?Advertising takes up the largest percentage of global marketing budgets at 16% for B2B marketing and 18% for B2C marketing?

o This is due to the need to increase brand awareness to consumers amongst the multitude of options they have today?

·?Due to marketing teams being spread across the map, companies have been investing large amounts of money in collaboration technologies to make communication amongst teams seamless?

o Marketers predict 70% of these investments will be made permanent?

·?TV advertising had the largest percentage of growth YoY at +27%?

·?Consumers expect a high level of personalization?

o 73% of consumers expect marketers to understand their unique needs and expectations

o 83% of marketers are using dynamic customers insights to adapt their strategies to fit expectations?

o 82% of high performing marketers claim that customer experience is a key competitive differentiator?

·?Personalization vs Privacy?

o Marketers have to prepare for more strict cookie policies, which many are doing through the following strategies:

§ Providing incentives for customers to share more of their information

§ Creating a first-party data strategy?

§ Creating second-party data sharing agreements?

Ad Week Trends Report 2

·?Sports Trends?

o The sports watching landscape is changing since you can now stream games to essentially any device beyond a TV?

o 80% of sports fans have regularly or sometimes watched sports on streaming or online channels

·?The Next Big Thing: AI Enabled Advertising?

o AI enabled marketing already accounts for $370 Billion in global ad revenue?

o By 2032, AI advertising could account for $1.3 Trillion in ad spend

§ This would be 90% of total ad spend

o 50% of enterprises plan to spend more on AI this year, with 20% saying they will significantly increase their AI budgets?

·?Global Content Marketing Predictions: 2021-2025

o Incremental growth of $417.84 billion is expected between 2021 and 2025

o Growth in 2021 was 15.43%, and market growth is expected to grow at a compound annual rate of 16%?

·?Gen Z is Changing the Landscape?

o 69% of Gen Z Instagram users use the platform to find information about products and brands

o Gen Z is much more interested in politics and social causes than millennials?

o Gen Z expects the brands they consume from to be socially responsible, and will question the validity of statements (ex: if a brand claims to plant trees to be carbon neutral- where exactly are the trees being planted?) more than past generations?

2022’s Top Streaming Moments 3

·?ViacomCBS’s rebrand to Paramount Global

o This rebrand was a message to investors that their top priority is streaming entertainment?

·?Warner Media and Discovery merger closing?

o This merger means larger scale for both companies to better compete in the current streaming landscape

·?Prime Video’s introduction of Thursday Night Football

o Introduces a turning point for the future of sports viewing?

·?Netflix adds an ad-supported tier?

o This allows advertisers to reach a younger, more connected audience?

1) Salesforce State of Marketing Report, 8th Edition

2) Advertising Week New York Trends Report 2022

3) Sutton, K. 6 Major Streaming Moments of 2022. (21, December 2022). Retrieved on 29, December 2022 from https://www.marketingbrew.com/stories/2022/12/21/6-major-streaming-moments-of-2022?utm_campaign=mkb&utm_medium=newsletter&utm_source=morning_brew&mid=1909da100c7c04d84ff121b460d0c118

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