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Insights and Trends - Advertising Industry a Decade From Now

Delivered August 20, 2019. Contributor: Gail

Goals

To understand how the advertising industry will likely look a decade from now and to have some key trends identified that seem to be the direction advertising is moving toward in the United States. This should be for all forms of advertising from digital to print to TV advertising.

Early Findings

  • Two hundred sixty-six billion dollars is how much advertisers around the world are expected to spend on digital advertising this year, according to eMarketer. And in just three short years from now, that amount is forecast to reach $376 billion which is a 41% increase.
  •  Jennifer Breithaupt, global consumer CMO at Citi, in an exclusive interview with CMO.com stated “Given that Instagram wasn’t even launched a decade ago and today counts more than 800 million active monthly users, I have no doubt that [what’s ahead for] the ad industry will look absolutely nothing like it does today, and that’s incredibly exciting.”
  •  Agencies will still be essential in helping brands come up with the big ideas that make emotional connections with potential customers.
  • The IoT refers to the billions of devices around the world that are now connected to the Internet, collecting and sharing data. Many IoT devices are made for consumer use, such as smart home electronics, connected vehicles, wearable technology, and remote-monitoring home appliances. A 2017 Gartner, Inc. report forecasts that there will be more than 20 billion connected IoT devices by 2020.
  • A connected TV is any television that connects to the Internet. This can be directly with a smart TV, or through over-the-top (OTT) devices that connect to a TV and enable internet use, such as the Amazon Fire Stick, Roku, and PlayStation. Connected TV allows users to stream content, such as movies, music, and social media, from sources like Hulu, Netflix, and YouTube. And the cord-cutting trend is expected to continue, so connected TVs and those services are only going to become more popular. According to a 2017 eMarketer study, 168 million users owned a connected TV, and this number is expected to rise to 194 million users in 2021.
  • Voice-assisted devices. Whether you call them voice searches or digital assistants, voice-assisted devices are certainly here to stay. Since introducing voice-enabled search in 2002, Google has integrated it in Google Search, Google Chrome, Android smartphones and tablets, and Google Home smart speakers. More than 39 million Americans own some sort of smart speaker device, according to a 2017 eMarketer report on connected TV in the U.S.
  • Digital audio is also an emerging trend in the digital media space. Although it has been around for years, digital audio advertising is taking off with digitally streamed radio broadcasts, music streaming services, and podcasts. The number of listeners and total hours spent consuming audio content continue to rise, with the average listener streaming four hours and 15 minutes of content each day, according to The Smart Audio Report by National Public Media.
  • Transparency, Accountability, and Safety Will Rise in Relevance.
  • Brands will get braver, and will continue to do so in big ways.
  • The advertising creative industry will, at last, wholeheartedly embrace artificial intelligence (AI) and deep learning.
  • In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.

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