Trends Affecting Media in 2024

The color of the year is Peach Fuzz, relaxation retreats are in, and possibly triggering skinny jeans are still out. While we won’t claim to be experts on fashion or travel, we can provide insights on the trends we see affecting media in 2024.

After years of Google sharing that it would be purging third-party cookies, the company has officially begun to turn off cookies for users. Google has stated its plans to phase out cookies for 100% of Chrome users by Q3 2024. Firefox and Safari have already removed third-party cookies.

How could this affect your advertising? Online cookies have been used for decades to track browsing information and personal data of consumers for the purpose of delivering targeted ads. Many digital advertising tactics, including retargeting and ad targeting, rely on these third-party cookies to reach the right audience.

A few things to do to prepare: prioritize first-party data, reevaluate your media mix to include tactics that do not solely rely on third-party cookies, and explore new technologies such as ID-free targeting driven by AI.

Political ad spend is anticipated to soar in 2024. Research firm Insider Intelligence predicts an increase of 30% from the last presidential election, with the majority of ad spend to be placed among traditional media. TV is projected to make up the largest share of this spend. Advertisers should prepare for tighter inventory, especially during political windows and on news networks, but all areas will feel the pressure.

Plan ahead and beware of election dates, including run-offs. Look for opportunities to reach your audience in areas that are not overly saturated with political spend, such as non-traditional media. If you typically focus on news programming, be open to using data to explore what other content your target consumers are watching; otherwise, be ready to pay higher rates and experience being bumped out due to oversold inventory.

Amazon Prime Video is the latest to announce it will be adding advertisements to the platform, with an option for an ad-free tier for an extra $2.99 per month following Netflix, Hulu, MAX, Paramount+, Peacock, and Disney+. Currently, Apple TV Plus is the only major streaming service without an ad-supported tier. Along with paid streaming subscriptions, more than 100 million people in the US are FAST (Free Ad-Supported TV) viewers as of October 2023 per research conducted by eMarketer.

This is great news for advertisers who have long wanted an opportunity to reach consumers watching content in what once was an ad-less environment, but it does add another level of complexity by providing additional options to consider in your media plan. Utilizing data and research rather than personal preference or assumptions will be key in picking the right vendors. A few things to consider when comparing vendors include frequency caps, audience scale, and reporting quality.

Are there any changes on the horizon that are keeping your team up at night? Avail Media Group is here to help your business to excel in the ever-changing media world. Contact us today to speak to a member of our experienced team!