Media Inflation: Are Advertising Costs Finally Cooling?
Global media inflation—the rising cost of advertising across the world—is expected to be slightly lower in 2024 compared with 2023, according to recent research.
2021 was a record year for digital advertising due to the COVID-19 pandemic and businesses increasing their ad spending. Technology is advancing rapidly, so marketers should focus on a few media partners and seek out the best technology and platforms. There is an abundance of ad tech companies, but it's not a bubble. Walled gardens, OTT/CTV, and Social Media are growing the fastest, and brand safety is a priority for advertisers.
Businesses should focus on long-term, brand-building investments and ensure their investments are profitable in the long term. To make the most of their ad spend, they should closely work with their media partners and access the data they open up. Walled gardens offer more control to advertisers, while self-serve advertising platforms allow them to add or remove ads quickly.
The digital advertising landscape is constantly changing, so businesses should be ready to act quickly and explore new opportunities. To stay up to date, they should read resources on ad tech and digital advertising, watch the latest trends, and listen to podcasts on the topic.
The Drivers of the Current Digital Advertising Boom
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Global media inflation—the rising cost of advertising across the world—is expected to be slightly lower in 2024 compared with 2023, according to recent research.
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