Mumbai: Dentsu released its annual media trends report, titled ‘The Pace of Progress: dentsu 2024 Media Trends’. Created by gathering insights from its specialists within Carat, dentsu X and iProspect globally, the new dentsu report highlights ten key catalysts of change within the media industry which are most likely to set the pace of progress for brands around the world.
With over 40 pages of in-depth commentary, dentsu 2024 Media Trends extrapolates how Generative AI will be best used to spearhead growth, how monetization of the industry is gaining evermore traction and how genuine integrity in advertising will elevate brands. Not only does the report highlight the key trends within each of these three areas of interest, but it also provides suggestions on how brands can capitalize on them in the short and long term.
“Our own client research has shown that more than 60% of marketers have said they’ve already started engaging with Generative AI in their company*. So, in our dentsu 2024 Media Trends report it was important for us to identify and introduce the additive advantages, trends and technologies to help them progress in this space,” says dentsu global CEO Media - international markets Peter Huijboom.
Huijboom continues, “When we bring our experts together from our media agencies and from all around the world to create these predictions, it is essential we showcase the most pressing topics and the best opportunities for the future. This report does exactly that, in a convenient and easily accessible way.”
dentsu CEO Media - South Asia Anita Kotwani adds, “Artificial intelligence (AI) is not just a buzzword, but a game-changer for the media industry. It has the power to automate, optimize, and personalize various aspects of media planning, buying, and execution. It can also unleash the creative potential of media professionals, by enabling them to generate new and engaging content, formats, and experiences for their audiences. This is what we call Generative AI, and it is the focus of our 14th edition of the Media Trends Report.
At dentsu, we take pride in our insightful expertise that keeps us ahead of the competitive curve. We are always exploring new ways to leverage AI for our clients, partners, and employees. The Media Trends Report deep-dives into one of the most disruptive technologies – AI, taking us through the many trends that serve Generative AI on a platter. It aims to enable readers to reshape their work dynamics, tapping into the untapped potential through its many facets.”
According to the new dentsu report, the key predictions for the direction of the media industry into 2024 and beyond are:
Generative AI takes center stage:
Generative AI is the most disruptive technology breakthrough of the last decade. With 63% of marketers having said they’ve already started engaging with Generative AI in their company*, the technology is set to take center stage in the coming months and years. From search to creativity to media planning and production, generative AI takes media effectiveness to new heights. This theme is explored through:
Trend 1 – The rise of generative search
Generative AI will transform how people access information, from search engines to commerce platforms.
Trend 2 – Creativity reimagined
The augmentation of human creativity through Generative AI in fields such as content and copywriting, as well as image development.
Trend 3 – Generative optimizations
Leveraging Generative AI for simplifying advertising production, targeting, and effectiveness at scale and pace.
The race to monetization:
2024 will see the intensification of competition between tech platforms. As they strive to better monetize their services in their economic circumstances, platforms will double down on becoming more protective of their data, understanding their users, and stepping up their advertising offerings. This megatrend incorporates:
Trend 4 – A world of lookalike apps
As platforms become progressively similar, attracting audience attention has never been more important for brands.
Trend 5 – From walled gardens to walled pipes
Platforms have a more defensive stance on their data which opens the larger question of the delicate balance between protection and discoverability.
Trend 6 – The identity refocus
A doubling down on people intelligence by media platforms as third-party cookies approach the end of the line.
Trend 7 – More ads for more returns
Expansion of advertising into new areas for most platforms, with new formats, opportunities – and risks – emerging as a result.
Integrity economics:
Growth in the next year will not only be about hard economics; it will also be about brands’ sustainable contributions to society. Amid rising societal and political polarization and climate emergency, building more carbon efficient, diverse, and safe online spaces for people and brands will be central to success. Highlighted through:
Trend 8 – The new faces of growth
With media consumption becoming increasingly diverse and personal, brands must adapt to reflect the needs and identities of audiences and stay relevant.
Trend 9 – Safer, better, faster, stronger
Amid a fast-moving digital landscape, new developments in brand assurance aim to create safer environments for both people and brands.
Trend 10 – More attention, fewer emissions
As brands implement carbon media efficiency strategies, optimizing for attention should lead to decarbonization through optimized and improved impact.
