The media landscape is evolving rapidly, shaped by new technologies like generative AI and changing consumer behaviors. For marketers, it’s crucial to understand the key trends and developments that will impact marketing strategies in 2024.
In this extensive article, we summarize the top 10 media trends covered in dentsu’s insightful 2024 Media Trends report “The Pace of Progress”. From the rise of generative AI to sustainability goals, these trends present new opportunities and considerations that will set the pace of progress for brands in 2024.
Summary of Key 2024 Media Trends
Before diving into the details, here is a quick overview of the top 10 media trends for 2024 covered in this article:
- Generative AI takes center stage
- The rise of generative search
- Creativity reimagined
- Generative optimizations
- The race to monetization
- A world of lookalike apps
- From walled gardens to walled pipes
- The identity re-focus
- More ads for more returns
- Integrity economics
- The new faces of growth
- Safer, better, faster, stronger
- More attention, fewer emissions
Generative AI Takes Center Stage
Generative AI will be the most disruptive technology affecting marketing and media in 2024. Let’s look at some key ways it will reshape search, creativity, and advertising optimization.
The Rise of Generative Search
Search engines are adding conversational AI capabilities for more natural interactions. For example, Microsoft’s new Bing search engine is empowered by ChatGPT, while Google is using its Bard AI service for more conversational search experiences.
This could transform how people discover information and engage with brands online. Brands can already use generative AI to optimize search marketing, like creating better ad copies or suggest keywords. As AI-driven search evolves, new advertising opportunities to target highly qualified users may emerge.
Creativity Reimagined
Tools like DALL-E 2 and Stable Diffusion allow anyone to generate creative content like images and videos through simple text prompts. This democratizes creativity and content production.
Brands are beginning to test it for marketing assets and campaigns. For example, Heinz used DALL-E 2 to create ketchup bottle images shaped like its iconic bottle design. But it also raises challenges around intellectual property rights that brands must navigate carefully.
Generative Optimizations
Generative AI can optimize and automate key advertising processes to improve campaign efficiency and performance. This includes:
- Streamlining content and creative production
- Automated campaign optimization and management based on performance data
- Advanced targeting using AI
Platforms like Meta are offering proprietary solutions in this space. But marketers need balanced oversight when using AI optimizations to ensure business goals are met responsibly.
The Race to Monetization
With growth slowing, platforms compete aggressively on attention and maximizing monetization through advertising.
A World of Lookalike Apps
Increasingly, leading apps are replicating competitors’ popular features leading to more identical user experiences. For example, Spotify adding TikTok-like video feeds or Snapchat launching a text-messaging feature like Twitter.
As apps become more indistinguishable, brands must focus more on attention-grabbing creative and experiences to stand out.
From Walled Gardens to Walled Pipes
Platforms are limiting open access to their data, content, and APIs. This affects many third-party apps built using their content and data.
Platforms want greater control over the user experience and monetization. For brands, this could open new advertising partnership opportunities on these platforms.
The Identity Re-focus
With shifts in data privacy and the decline of third-party cookies, platforms are doubling down on first-party identity solutions like verified accounts and logins.
This strengthens platforms’ people-based targeting capabilities for advertisers. Brands need robust first-party data strategies to compete in this landscape.
More Ads for More Returns
Platforms are introducing more ad formats and placements across search, social, streaming, and retail media to increase advertising revenue.
For brands, it provides new opportunities to engage audiences but also risks oversaturating consumers. Strategic planning and attention metrics are key to maximize returns.
Integrity Economics
In 2024, brand growth will involve aligning business goals with sustainability and social impact.
The New Faces of Growth
As media consumption fragments across diverse audiences, brands must reflect this in their marketing. This means mitigating bias in AI, ensuring inclusive representations, and supporting minority-owned media.
Safer, Better, Faster, Stronger
New brand safety and suitability solutions will emerge to address risks like AI-generated misinformation and content fraud. But they require responsible oversight, governance, and adaptability by brands for effective protection.
More Attention, Fewer Emissions
Brands can optimize campaigns for attention while reducing media emissions through planning. This aligns business and sustainability goals. Better carbon impact measurement and attention metrics will enable this shift.
Key Takeaways for Marketers
The 2024 media landscape will see rapid change led by generative AI, platform competition for attention and monetization, and brands aligning growth with social values.
For marketers, key takeaways include:
- Evaluate opportunities to use generative AI to create value for customers and optimize advertising performance. But approach implementation responsibly.
- Adapt strategies to rising platform similarity and advertising clutter by focusing on attention and creativity.
- Secure first-party data access for people-based targeting as third-party cookies decline.
- Balance brand visibility with content and data protection strategies as platforms get more restrictive.
- Ensure diversity and inclusion in marketing through technology, content, and media investments as consumer bases fragment.
- Build multi-layered brand safety strategies spanning ethics, technology, governance, and adaptability.
- Define carbon impact measurement plans and optimize for attention to reduce media emissions.
By keeping pace with these trends, marketers can effectively navigate the evolving media landscape and drive sustainable growth in 2024.
Conclusion
The media world in 2024 will be defined by generative AI’s emergence, increasing platform parity and protectiveness, and brands prioritizing sustainable growth through attention optimization, diversity, representation and social values.
Dentsu’s 2024 Media Trends report provides invaluable intelligence for marketers on the developments that will shape marketing strategies and success in the coming year.
Key focus areas include leveraging generative AI’s potential while mitigating risks, standing out as platforms increasingly replicate each other’s features and clamp down on data access, and ensuring growth strategies align with consumer calls for sustainability, inclusion and social justice.
By staying agile, focusing on attention and creativity, maximizing first-party data, and keeping brand safety top of mind, marketers can effectively ride the pace of progress in 2024.