Report: Marketers Expected To Cut TV, Print Advertising In 2024

The “2024 Advertising Outlook” report by Mediaocean provides insights into key advertising trends that are expected to influence the industry in 2024. 

Here are some key takeaways from the report:

Omnichannel Marketing: Marketers plan to maintain or increase spending across nearly every channel, with a focus on innovation and creativity despite macroeconomic challenges.

Over the air television, however, tells a different story. While national and local TV are seeing a modest uptick in those wishing to increase ad spend, 36% and 33% say they will cut TV ad budgets, marking the decline far greater than the growth factor. Print is also noteworthy for its decline.

Investment Growth: Social media, digital display/video, and connected TV (CTV) are anticipated to see significant investment growth, reflecting consumer engagement trends.

Marketing Strategies: There’s a shift towards brand advertising to drive customer loyalty and lifetime value, while addressing the gap between creative and media execution.

Industry Outlook: The report suggests that 2024 will bring unprecedented innovation in advertising, with opportunities for brands to leverage independent technology for omnichannel measurement and media buying.