The media landscape continues to evolve at a rapid pace with emerging technologies and shifting consumer behavior. As media spending has hit a slowdown, media platforms are in an aggressive race to monetize with fresh formats and more ad placements, trying to keep abreast of the changes at play. This race will shape the efficiency-driven media landscape as platforms will strive to maximize the value of their services, and data, and scale with new ad inventories.  

Will more ads yield more returns for the brands? The booming opportunities seem lucrative, but the overwhelming presence of advertisements can cause clutter and a challenge of capturing attention. Attention metrics tied to context, emotions, and response will redefine strategies and enable brands to reach the right person, at the right time and at the right place. 

Popular apps are stepping out of their niche and adopting similar styles in content and user experience. However, increasing uniformity will force the platforms to leverage creativity for distinction. 

Generative AI made a grand debut and advertisers have started testing the waters to explore its ability to copilot creativity in design, and content. However, concerns regarding brand safety and data protection are still in the grey. With more than 73% of global digital ad spend forecast to be bought programmatically in 2024, fraud prevention should be at the top of advertisers’ agendas. 

Amid economic uncertainty, media platforms refocus on what has built their commercial success, that is their ability to accurately address people at scale. In 2024, the phase-out of third-party cookies will bring about a seismic shift in media strategies and a push on user identity as every advertiser will prioritize first-party data. We will see a rise in new business models as the platforms will solve an identity refocus by introducing freemium subscriptions and following the playbook of retail media. 

Today consumers not only look at what a brand has to offer, but they also want to know why and how. 78% of CMOs agree that there is no longer a disconnect between what is good for society and what is good for business. We navigate in a globalized world facing climate concerns, polarizing events, and cultural conflicts. Brands need to think beyond just selling products and services and aim for sustainable growth by complementing economic gains with social impact. In 2024, we will see an increasing focus on including diverse voices and aligning business effectiveness with sustainability through new solutions. 

Balance will be the key to a stronger brand assurance and agencies will remain a force that helps establish this balance between technology, governance, adaptability, and ethics.  

To know more about how trends will shape brand success, download the report, The Pace of Progress (Media Trends 2024).

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Prerna Mehrotra

Chief Client Officer & CEO of Media

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