MEDIA INDUSTRY

Dentsu study unveils the media trends set to shape 2024 and beyond

By our News Team | 2023

Generative artificial intelligence takes centre stage, as does the race to monetisation and integrity economics.

Dentsu, one of the largest global marketing and advertising agency networks in the world, has released a report detailing emerging advertising behaviours and technologies expected to transform the media industry in the coming years.

Created by gathering insights from various specialists within its group of companies, ‘Dentsu 2024 Media Trends’ highlights key catalysts of change within the media industry which are most likely to set the pace of progress for brands around the world.

Photo by Tara Winstead from Pexels

“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,” says Peter Huijboom, Global CEO, Media International Markets at Dentsu.

“So, in our [report] it was important for us to identify and introduce the additive advantages, trends and technologies to help them progress in this space.” The key predictions into 2024 and beyond:

Generative AI takes centre 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 centre 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 optimisations. Leveraging Generative AI for simplifying advertising production, targeting, and effectiveness at scale and pace.

The race to monetisation

The year 2024 will see the intensification of competition between tech platforms. As they strive to better monetise 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 polarisation 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, optimising for attention should lead to decarbonisation through optimised and improved impact.