Future State of The Media Industry

Well, 2022 is upon us and although not much has changed when it comes to working out of our bedrooms, wearing masks, and trying to avoid COVID-19 a lot is changing in the media world.  We have broken down the biggest 6 areas that we think advertisers, brands, agencies, and marketers will need to focus on:

  1. The elimination of third-party identifiers – the date has been pushed back on Chrome to late 2023 but we know the deterioration of cookies is upon us. Finding alternatives and work arounds now will be imperative in your marketing and media planning.
  2. Tik Tok – this social platform is the fastest growing in the US. They are coming out with unique advertising opportunities and Beta testing.  They have a myriad of creative best practices that are very strategic for their platform.  Start testing your campaigns and creative now on this platform as we see that it will continue to grow and evolve in the years ahead.
  3. Data-Driven Linear TV – automation of traditional broadcast and cable TV buying using audience segments instead of demographics. Buyers are looking at this area to make traditional TV more efficient and giving them the best of TV and digital advertising.
  4. Customer Journey Mapping – you have to start at the end to get to the beginning when it comes to measurement strategies. Outlining the journey and the hurdles for the customer ahead of time will play a role in the measurement KPI mapping of your campaigns.
  5. Consumer Sentiments – brands and advertisers need to be aware of how the consumer is feeling and the cultural landscape.
  6. On-Screen Diversity – consumers are looking at how diversity is impacted in advertisements but also in the content surrounding the ads.

The year ahead is going to be another interesting ride.  Common threads from 2021 will continue to unfold when it comes to social media platforms accountability and scrutiny.  I believe influencers impacted on advertising and media have just scratched the surface and will continue to evolve and grow.  And lastly, there seems to be a podcast for just about everything and I believe local advertisers will finally be able to get scale and ROI in this area.

The media business made a huge digital shift in 2020 due to the pandemic.  The biggest hurdle has been the measurement side that just can’t keep up with shifting consumer trends and behaviors.  I am hopeful that 2022 offers some solutions to this especially when it comes to local advertisers.

I hope to see you all back at the end of the year as we wrap up 2022 and see how each of these areas have evolved.  Happy New Year 2022!

 

This blog post was written by Executive Vice President, Amy Ward.

 

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