CTV outpaces AI on marketers’ list of consumer trends to watch

Connected TV (CTV) has become the most important consumer trend according to marketers, with 56% ranking it as critical to watch ahead of H2 2024, narrowly surpassing AI at 55%.

This is according to Mediaocean’s 2024 H2 Market Report, which surveyed over 1,200 marketing professionals worldwide to identify the key consumer trends shaping the advertising landscape for the remainder of the year.

CTV’s rise in advertising importance follows the amount of time consumers spent streaming increasing 40% in June, per Nielsen. With viewers increasingly turning to more affordable ad-supported streaming options, the CTV market now holds its largest share of TV usage ever recorded by Nielsen.

Amid evolving macroeconomic conditions, the industry has intensified its focus on accountability and return on adspend. Subsequently, there is an ongoing shift towards investment in performance-driven paid media. 

Of marketers surveyed, 69% view performance-driven paid media as the most critical advertising capability and media investment, ahead of brand advertising (57%) and measurement and attribution capabilities (53%). 

Within different performance media channels, 66% of marketers expect to increase their adspend in social media, with digital display and video (64%), CTV (55%) and search (47%) also set to enjoy significant increases. 

Aaron Goldman, chief marketing officer at Mediaocean, said: "Performance-driven paid media has emerged as the dominant focus for advertisers, reflecting industry-wide scrutiny on channels that deliver measurable business outcomes."

Currently sitting second on marketers’ list of consumer trends to watch, AI is being used more and more within marketing itself, with data analysis (45%), market research (40%), and copywriting (27%) among marketers’ most popular use cases for the technology. 

Further, the report also revealed that with growing consumer demand for privacy and changes to how third-party cookies are managed, 2024 has seen an uptick in multi-ID advertising, with many brands now claiming to be prioritising first-party data strategies despite Google discontinuing Chrome’s deprecation of third-party cookies. 

Goldman concluded: "To thrive in the final months of this year, advertisers must prioritise creative ad tech solutions that use AI and automation to meet consumers in the moment with relevant messaging and orchestrate consistent omnichannel experiences."