Advertising forecasts for 2024
By Nick Wenger
Director of Media Operations
Maintaining a competitive edge is key to achieving success in the ever-changing world of advertising. To help clients navigate beyond trends, we rely on forecasting through analysis of data, consumer behavior, market dynamics and emerging technologies. This process helps us give informed recommendations on resource allocation, engagement strategies and campaign objectives. Our foremost objective is to steer our clients toward the most effective and efficient methods of connecting with their target audiences and achieving tangible results.
One noteworthy shift emerging in recent years pertains to changes in media consumption habits. We are seeing a substantial departure from traditional television and radio, with a notable surge in the popularity of streaming audio and OTT platforms. This transformation is propelled by changing consumer preferences favoring on-demand content and high-speed internet accessibility. A recent study by Borrell Associates projected that digital video spending will increase by 9.3% and audio spending by 7.7%, in 2024.*
Streaming audio services such as Spotify, iHeartRadio and podcasts have become the preferred choice for personalized music and spoken content. These platforms empower consumers to create playlists and explore a vast array of options. Similarly, OTT platforms like Netflix, Amazon Prime Video and Disney+ provide a diverse range of entertainment choices, liberating viewers from the constraints of conventional cable or satellite television.
As advertisers and content creators adapt to this evolving landscape, it is evident that the future of media consumption is firmly rooted in the digital domain, where personalized and on-demand content reign supreme.
MANSI Media’s robust digital capabilities align perfectly with these ongoing trends. We offer precise audience targeting, from geofencing down to specific ZIP codes, or even broader state, DMA or countywide campaigns. Additionally, our platform enables behavioral targeting, allowing you to refine your outreach based on factors like age, hobbies, keywords, and a wide array of other options.
On the print side, we continue to see clients use newspaper special sections to target readers based on specific topics and events. We expect this to continue in 2024. Whether the section is focused on health care, financial services, lifestyle, community happenings or other categories, these publications provide a direct path to a specific audience with very little waste.
Special sections are main drivers for advertisers with a strong community presence, a key reason their influence extends into 2024 forecasts. With local advertisers planning an overall expenditure increase of 4.4% in 2024,* special section advertising becomes a key factor in the media planning mix. Advertising in special sections tailored to a specific audience ensures your message stands out among the noise and connects with the right people.
MANSI Media has an extensive reach into publications across the country. Our experienced media placement team can help with your special section placements to get your message in front of your desired audience.
As advertising evolves in terms of its visibility and consumption, forecasting will consistently play a crucial role in shaping our approach to future campaigns and budget planning. With the ongoing expansion of streaming services, advertising budgets will naturally follow suit. However, advertisers will still rely on traditional print media options to supplement their audience engagement strategies.