Global advertising spend will double its growth rate in 2024, topping $1 trillion for the first time, WARC Media predicts.
Five companies – Alibaba, Alphabet, Amazon, Bytedance and Meta – are forecast to attract more than half (51.9%) of global advertising spend this year as their ad revenues rise by 10.7%.
Key to growth is the adoption of artificial intelligence (AI). However, this raises challenging questions about media quality and the future of advertising on the open internet.
The Future of Media 2024 report takes a look at platform power in the era of AI, the current state of linear TV, the future of attention measurement, and the growth of in-game advertising.
Paul Stringer, managing editor, research and insights at WARC, said as marketing budgets rebound in 2024, uncertainty swirls around where best to direct investments in media, the role of AI in planning, and how to assess media quality.
“And as politics temporarily engulf culture with impending elections in several major economies, and the threat of low-quality AI generated content looms large, media environments that can offer suitable guarantees around brand safety will take on extra value," Stringer said.
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