Mediaocean’s 2024 H2 Market Report showed that the wave of optimism in the industry regarding influence advertising spending heading into 2024 has continued. Midway through the year, a significant majority again expressed their intention to either maintain or increase their spending in every channel. Beyond macroeconomic conditions, tentpole events such as the summer games in Paris and major advertising cycles like the U.S. presidential election are likely drivers of increased investment.
Social media, digital display/video, and Connected CTV are still the fastest growing channels, seeing a steady increase in investment that matches consumer engagement and time spent. In H2, 66% of survey-takers are planning to increase social media spending, 64% for digital display/video, and 55% for CTV. Meanwhile, the number of marketers maintaining their investments in these channels are 30%, 31%, and 37%, respectively.
Just as seen in H1, Print and TV are the only channels with more respondents indicating they are decreasing investment compared to increasing—however, the majority reported maintaining those budgets. Looking ahead to 2025, there are lots of factors to consider for annual planning but as the global economy continues to improve with the pandemic in the rear-view, ad budgets are likely to follow.
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