Survey: 66% marketers plan to increase social media spend
August 13, 2024
According to Mediaocean’s upcoming 2024 H2 Market Report, social media, digital display/video and Connected TV (CTV) are still the fastest growing channels, seeing a steady increase in investment that matches consumer engagement and time spent.
In H2 2024, 66 per cent of survey-takers said they are planning to increase social media spending, 64 per cent for digital display/video, and 55 per cent for CTV. Meanwhile, the number of marketers maintaining their investments in these channels are 30 per cent, 31 per cent and 37 per cent, respectively.
When asked marketers to rank the most critical consumer technology and media trends, the most popular answer amon marketers was CTV/streaming with 56 per cent. Dropping from first place in Mediacoeans’s H1 survey, Generative AI (Gen AI) is now the second-most popular answer, with 55 per cent deeming it one of the most critical consumer trends.
The most prevalent applications of AI continue to be data analysis and market research, with 45 per cent and 40 per cent of use cases, while copywriting and image generation hold a 27 per cent and 22 per cent share respectively.
Compared to Mediaocean’s survey from November 2023, the number of respondents identifying first-party data as a critical capability is up 25 per cent.
Mediaocean’s 2024 H2 Market Report will be published in full on August 19th.