Marketers are directing spend towards social media content and digital display advertising for the remainder of 2024, new research suggests.
The Mediaocean 2024 Advertising Outlook Report was constructed using responses from more than 1,000 marketers across multiple sectors.
It found some 69% of those polled said they planned to increase social media spend in 2024.
The report also showed marketers are keen to maintain or increase spending in digital display, video, search, out of home (OOH) and connected TV.
The only channels where respondents said they may reduce investment for the remainder of 2024 was print and television.
Half of those surveyed stated that they view brand advertising as a key media investment in 2024, an increase from 42% in 2023.
When asked about artificial intelligence, survey respondents revealed that their expectations and use cases for AI had shifted from its potential in 2023 to data analysis and market research in 2024.
With the practical, day-to-day usage of AI for copywriting declining from 59% last year to just 26% in 2024 as its usage for data analysis takes precedent.
The 2024 Advertising Outlook report is part five in a series of biannual market reports published by Mediaocean about key marketing trends.
The survey was conducted by TechValidate in November 2023 and contains data from 1,085 respondents representing brands, agencies, media companies, measurement firms, tech platforms, and other marketing industry constituents.
To read the report in full, click here.