A Look Into the Future: What Advertisers Can Expect in 2024

As we enter the new year your business is likely preparing its advertising strategy and how to best connect with audiences to make a lasting impression In an era where the advertising landscape is rapidly changing knowing what to expect for 2024 is crucial We interviewed a4amp8217s head of business development Bill Chambers to get the details on everything your business can expect for the year aheadLast year we saw immense growth in connected TV and FAST platforms Will that continue into this year and if so what will that look likeBill Chambers It will continue to grow but more importantly it will continue to evolve We need to keep our eyes on it to see how itamp8217s trending For example a lot of the trades today as we sit here in the middle of December talk about how streaming overtook linear viewing in July However August September and October have shown a switch back with linear overtaking streaming And the truth of the matter is because of the power of sports and news TV still provides great value But make no mistake streaming is going to be the future It is the future Itamp8217s here nowI think programming content and trends will dictate what happens in 2024 especially with the upcoming political races Content will be king and viewers and consumers will migrate to where that content is whether itamp8217s sports or general entertainment As weamp8217ve seen in 2023 content is migrating towards streaming platforms Something to keep our eye on is how these different platforms acquire original and syndicated programming and if they grow in sports and newsAdsupported platforms are changing Nonadsupported entities like Netflix didnamp8217t offer adsupported versions Now they do Youamp8217re going to see a lot of price adjustments bundling and packaging Consumers will become more familiar with free services like Pluto and Tubi which will continue to grow based on financial implications and how they fit into consumersamp8217 budgets I think commercials on television are kind of like taxes We know we have to pay them so we accept them We are familiar with that experience and we will continue to do so as different streaming platforms and options become availableLastly the world of connected TV and streaming from a measurement standpoint will be very interesting There are a lot of challenges in our industry right now because itamp8217s grown so quickly Weamp8217re still grappling with some of the challenges of measuring different platforms Weamp8217re just scratching the surface Itamp8217s an exciting time Itamp8217s a new frontier and I canamp8217t wait because it will benefit us in the long runThereamp8217s no way to talk about 2023 without mentioning AI How do you think AI will play a role in advertising in 2024Bill Technology is here to make everything easier AI has been around for quite some time now but itamp8217s being thrust into the forefront especially in our industry because of the technology and the algorithms that help make things easier And it will continue to evolve and develop as the technology improvesBut AI is only as good as the data points itamp8217s based on right Many different walled gardens and companies are incorporating their own artificial intelligence to gather reporting analytics etcI donamp8217t think AI will ever replace humans but it will replace the humans who aren39t using it Itamp8217s like doing your research We used to have encyclopedias Then we had the internet Now AI makes it much easier to dive in and point us in the right direction So just like resources in the past use it wisely to gather information and play around with it but put your spin on itBased on our experience in the industry and knowing how advertising works and certain behaviors I think AI is going to help us position our expertise for success because it allows the technology to help us be that much more prepared and smarter and creative in these things Again I think personal experience having that input to position it and working in conjunction with AI will help us succeed in this industryThe 2024 election and the Olympics will temporarily boost ad spend but what are your thoughts on the future of linear cable TV in 2024 and beyondBill Iamp8217m looking forward to a time when we donamp8217t use terms like linear digital or cable I still believe and thereamp8217s a lot of proof to reinforce this that the television screen is still king Itamp8217s the most trusted platform for consumers and where we spend most of our downtime or entertainment timeBut how we access it is always going to change It always has and it always will In the late 1920s television was born with rabbit ears and black and white Then it turned to color Cable came around in the amp821780s with the promise of a subscription to get content free of commercials We know that didnamp8217t last very long and now weamp8217re seeing it again with streaming subscriptions giving way to adsupported options Itamp8217s just an evolution Thatamp8217s always going to occurItamp8217s like I always say The more things change the more they stay the same I believe the pandemic has accelerated certain behaviors but to me consumers don39t differentiate between any of the things we focus on in this industry They enjoy engaging with their television content And as weamp8217ve seen sports and news still have a huge value I think things will look very different in five years but as we go into 2024 linear still does provide valueLastly what is the biggest piece of advice you would give an advertiser when planning their advertising strategyBill Honestly dare to be different How will you stand out and be noticed and what is the most strategic way to accomplish that Tell your story and reach the masses be consistent with that story Never fear change Embrace it Because the only constant in life is change and like I said earlier the more things change the more they stay the same Embrace new technologies like AI and streaming but most importantly embrace the right strategy to achieve your advertising and marketing goals while reaching consumers in the most accurate effective and efficient ways possible in your local marketsThis is why I love where I work a4 gives us access to a lot of deterministic data and advanced technologies to help our clients make those strategic decisions and stand out amongst the masses not do what everyone else does Dare to be different trust a multiscreen approach and tell your story consistently And that is the best advice you can give in this industry todayPosted at MediaVillage through the Thought Leadership selfpublishing platformClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillageorgMyersBizNet

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