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“We are seeing a cautiously positive economic sentiment for the back half of 2024 which provides some optimism around increasing ad spend and creating positive momentum.
Pending some more positive signals from our economic recovery, advertisers might shake some of their initial bearish sentiment from the first half of the year. However, there is still significant amounts of uncer-tainty that may lead to continued caution amongst advertisers.
Consumer confidence and advertiser confidence is linked and there was a lot for the average consumer to be worried about in the first half of 2024. If consumers get some potential reprieve on cost of living, interest rates etc – hopefully advertiser confidence follows. It is very much a case of ‘wait and see’.
The channels that give greater transparency and accountability to performance will likely continue to thrive into the back half of 2024.
The above favours digital media – at least from a short-term, performance metrics perspective – such as search, social and programmatic. We are also seeing a lot of momentum behind connected TV and retail media.
The rising costs of media have also encouraged brands to optimise budgets more stringently, focusing on channels with more immediate return on investment. Brands with mature attribution ecosystems and media mix modelling strategies are more freely investing in channels with greater longer-term value.”
– Nick Grinberg, Head of Strategy
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