Media Consumption and Current Trends

Whichever the preferred nomenclature it can broadly be described as the cycle through which consumers trek from productservicebrand awareness to loyalty The concept has been enunciated illustrated and otherwise used for decades in order to help categorize and visualize the major steps along this path toward the product or service provideramp8217s and their marketing partnersamp8217 desired connection with the customerAnd while it may seem to be largely the province of audiencemeasurement researchers those who are in any way involved in the buying and selling of advertising should consider themselves part of amp8220the funnelamp8221 amp8211 and should always consider it useful to keep abreast of industry and economic trends impacting that funnelWe expect to elaborate more on our teamamp8217s views on the funnel itself in forthcoming posts As a first step we thought this might be a good opportunity to reflect on recent current and emerging videoindustry trends that are impacting the funnelAs representatives to the ad community on behalf of both MVPDs and small businesses we typically find ourselves on the front lines of the discussion of mediaconsumption trends and often the tip of the spear if you will on marketing decisions that are made at the local and regional levels Our role often places us in the privileged position of not only learning new developments in marketing science at the early stages but also in having the ear of constituents at both ends of and throughout the funnelArguably weamp8217re at a time of profound change in videoconsumption habits some of it spurred by the aftermath of the pandemic and related economic trendsFor example according to a January 2024 analysis by Kantar economic pressures have caused consumers to scale back on their number of SVOD services though SVOD usage remains highly elevated from 2021 Generally a scaleback in pure SVOD subscriptions likely bodes well for AVOD and of course SVOD providers increasingly have offered adsupported optionsInflationary pressure also has led consumers increasingly toward private labels and lessexpensive retail options amp8211 though as Kantar notes this trend might benefit small local businessesIn terms of overall mediaconsumption habits linear TV viewing remains King of the Hill amp8211 though the definition of amp8220total TV viewingamp8221 has evolved And in fact total TV viewing enjoyed a fouryear high in January with usage up 37 from December among P2 per NielsenBut the outsized primacy of NFL games has only become more stark Not only did CBS Sports39 carriage of Super Bowl LVIII deliver the gameamp8217s mostwatched telecast in history with a 1234 million average viewers across all platforms but Peacockamp8217s January 13 stream of an NFL playoff game scored a precedentsetting 39 billion viewing minutesOverall streaming increasingly bolstered by NFL and other sports accounted for a 36 share of viewing up from 328 a year ago while cable had a 279 share and broadcast viewing had a 242 per various sourcesRecent earnings announcements and other releases of data underscore the growing streaming trends Rokuamp8217s recent quarterly revenue grew a healthy 14 and the company reported more than 80 million active accounts an increase of 10 million for 2023 The fact that Rokuamp8217s shares have undergone recent tumult owes more to an alignment of Wall Street expectations with reported results than the resiliency of digital advertising though it does underscore challenges to the predictability of digitalad revenue trends which also interrelates of course to economic trends impacting advertisingWe must also accept the inexorable advance of social media amp8211 and handinhand with that AI and machine learning amp8211 as part of the marketing processFor example Meta recently disclosed it is testing a feature that uses Instagram data to help brands determine the optimum use of creators for their campaign goals Not to be outdone TikTok recently announced Creative Assistant which is amp8220designed to support your video creation journey helping you to brainstorm ideas understand best practices uncover trends and find inspirationamp8221 TikTok is doing just fine by the way overall spend on the social media app for 4Q24 was up 43 from 1Q23 with video games online games and subscription streaming services accounting for close to 30 of the 1 billion in quarterly ad spend per MediaRadarTo be sure as noted by Digiday among others media agencies for years have been applying machine learning though largely in data measurement and analytics But increasingly participants within the funnel are looking to generative AI to sharpen creative executions in the neverending effort to customize messaging and outreach to specific consumers This increasingly promises to carry over to all aspects of marketing and commerceWe of course continuously evolve our own business model to accommodate these trends expanding our portfolio of services and platforms in order to help clients find consumers wherever they may be and hopefully when they may be in the right mind to receive a particular marketing message For example weamp8217ve talked about our increased usage of advanced audiencetargeted advertising tools and the latest concepts in digital outofhome DOOH advertising and our conversations with clients increasingly revolve around holistic solutions designed to help them find the everelusive customer prospectFamiliarity with the latest tools technology and marketing theories are crucial to this process as is keeping a finger on the pulse of economic trends More to come on this everdynamic topicI encourage readers to reach out with their questions or thoughts Feel free to email me at infoviamediatvcomPosted at MediaVillage through the Thought Leadership selfpublishing platformClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillageorgMyersBizNet

SUBSCRIBE FOR FREE MEDIAVILLAGE CONTENT | BECOME A THOUGHT LEADERSHIP CONTRIBUTOR

Media Consumption and Current Trends

Author

Publish date

Channel

David Solomon

"About That with Carl Mayer": Involved Media Connected Audience Fall 2024 Report (Episode 5) - By Carl Mayer

More Videos:

SUBSCRIBE FOR FREE MEDIAVILLAGE CONTENT | BECOME A THOUGHT LEADERSHIP CONTRIBUTOR

Media Consumption and Current Trends

Enjoying This Commentary? There's More to Love

David Solomon

TAGS:

"About That with Carl Mayer": Involved Media Connected Audience Fall 2024 Report (Episode 5) - By Carl Mayer

Cookies