Guest Contributor, Mark Boidman
2024 should see forward-looking trends, including increased use of generative AI and privacy-enhancing technology, as well as emphasis on product bundling and audience focus.
Traditional mediums such as television and print media continue to lose share to other channels as advertisers shift their spending habits.
Media companies are bundling streaming products to boost sign-ups, a pre-streaming practice
Expect bundling to further increase in 2024, as companies move content/services under one roof
Generative AI is being used to create personalized content and targeted ads, but in 2024 it will also be used to generate product images, create advertising copy and plan marketing campaigns
IP issues will arise around who owns AI-generated outputs, with 63% of U.S. marketers fearing potential copyright issues with AI content
As privacy regulations tighten and third-party cookie use is phased out across platforms, a greater emphasis is being placed on first-party data and Privacy Enhancing Technologies (“PETs”)
PETs will allow brands to utilize data to advertise effectively without intruding on user privacy rights
Following the writers’ strike, there is a production gap stemming from the backlog of projects that were forced to halt or cancel production
Platforms will look to fill the production gap by reimagining existing concepts, turning to non-U.S. content on global platforms and increasing the number of unscripted projects at the start of the year
Gen Z consumers – the early adopters who interact with the newest trends in media consumption – actively make efforts to engage with brands and products that align with their social values
As this generation gains purchasing power, companies will need to ensure that their message and content demonstrate a focus on social causes and advocacy
Solomon Partners Global Media Group provides investment banking advisory and financing services to media, entertainment and tech services companies, as well as investment funds.
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