Here are six predictions from Ebiquity for the global media market in 2023 and the implications for brands.
As appeared on WFA News “Seven partner predictions for 2023”, read here.
As we look ahead to 2023, there are three trends in digital that I believe will dominate advertising investment by the world’s biggest brands in the coming year.
First, Advanced TV will accelerate, driving growth overall. In the US, streaming has overtaken cable, while in the UK, SVOD/BVOD account for a quarter of viewing, a third among young adults. Advanced TV revenue will enjoy the highest growth of all sectors in 2023, while linear ad spend falls.
Second, brands are seizing the opportunities presented on retailers’ own websites. eRetail advertising grew five times as fast as social in 2022, and this emerging sector has been described as the “third wave in digital advertising” after search and social.
And third, social media will take a decreasing share of spend, as structural changes in the market mean it is both more expensive but also delivers lower conversion rates and ROI.