When Mediaocean asked marketers to rank the most critical consumer technology and media trends, the most popular answer was CTV/streaming with 56%. More and more consumers are cutting the cord, and turning to streaming platforms for entertainment and, in turn, opting for more affordable ad-supported tiers. In June, the amount of time spent streaming increased by more than 40%, marking its largest share of TV usage ever recorded by Nielsen’s The Gauge™. As these channels and platforms have grown, advertisers are attracted to the increased viewership.
Meanwhile, streaming platforms are making significant investments to accelerate their growth. In July 2024, Amazon signed an 11-year streaming agreement with the NBA and WNBA for Prime Video. Warner Bros. Discovery recently signed a five-year deal with ESPN to broadcast select College Football Playoff games. In the UK, Tubi made its official local market debut, the largest international expansion for the ad-supported streaming platform. Globally, Netflix has experienced significant growth in its ad-supported tier— jumping 34% in the second quarter of 2024. Disney+, Hulu, and Max recently launched a bundle deal to encourage subscriptions while saving subscribers additional money. And Paramount just announced a merger with Skydance Media that will create expanded content opportunities.
Dropping from first place in the H1 survey, Generative AI (Gen AI) is now the second-most popular answer, with 55% deeming it the most critical consumer trend. Clearly Gen AI remains an important innovation driver for marketers but perhaps some of the initial buzz has subsided as practical use cases are implemented.
As the landscape of consumer technology and media continues to evolve rapidly, it is evident that streaming and Gen AI are reshaping the way brands engage with audiences. The rise of ad-supported streaming options not only reflects changing consumer preferences but also opens new avenues for advertisers to reach highly targeted audiences. At the same time, the sustained interest in Generative AI highlights the ongoing quest for innovative marketing solutions, even as the hype settles into more pragmatic applications. Moving forward, marketers will need to balance these dynamic trends, leveraging both the expanding reach of streaming platforms and the transformative potential of AI to stay ahead in a competitive marketplace.
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