The advertising industry is constantly evolving, with technological advances and cultural changes continually redefining brand communication strategies. In 2024, we are witnessing major transformations, both in terms of spending and emerging trends. Let’s take a look at the main developments that will shape the future of advertising.
Growth in advertising expenditure: economic recovery, major events and new platforms
The key figures for 2024 point to growth in advertising spending worldwide, but also in France.
While the various studies differ (enormously) on the exact percentage, they all agree on growth:
– Magna expects total advertising expenditure to grow by +6.3% in France and +7.2% worldwide
– GroupM predicts advertising investment growth of +8.3% in France and +5.3% worldwide
– Dentsu forecasts +2.4% in France and +4.6% worldwide
This increase is largely attributable to the post-pandemic economic recovery, the expansion of emerging markets (India in particular, which is blowing away forecasts with +12% according to Magna) and the growing adoption of new advertising platforms.
In France, sporting events such as the Euro and above all the Paris 2024 Olympic Games will boost the period. On a global level, we can also see an increase in spending due to the forthcoming elections, particularly in countries that allow political advertising on television, namely India, Mexico and the United States.
While the sporting events of 2024 will benefit all media, digital will capture more than 90% of this growth. For 2024, GroupM forecasts an increase in digital revenues of more than 10%, driven in particular by Retail Media, social networks and video (social, platform and CTV).
Oliver Baconnet, Chief Investment Officer for GroupM France
The top 10 advertising trends for 2024
Several studies have identified the key trends in advertising in 2024. Here are the top 10 trends:
1. Virtual and Augmented Reality (VR/AR)
In 2024, VR and AR are becoming essential tools for advertisers. Brands are exploring immersive experiences that allow consumers to interact directly with products or services before purchasing them.
2. AI for Advanced Personalisation
Consumers are paying more and more attention to personalisation. Advertisers are using artificial intelligence to analyse past buying behaviour and anticipate future needs, offering personalised ads for a more relevant experience.
3. Voice search
With the proliferation of voice assistants (Google predicts that 8.4 billion voice assistants will be in use by 2024), voice-based advertising is becoming a key area. Companies are adapting their strategies to ensure that their ads are optimised for voice searches, creating a more natural interaction with consumers.
4. Responsible and inclusive advertising
Today’s consumers are more aware of the social and environmental impact of brands. In 2024, companies are incorporating ethical and inclusive values into their advertising campaigns, highlighting their social responsibility. According to a Nielsen study, advertising campaigns displaying greater diversity can increase audience receptiveness by 23%. The focus is on diversity and inclusion, ensuring that advertising celebrates all communities.
5. Streaming and Sponsored Content
With the rise of streaming platforms, content-integrated advertising is gaining in popularity. Brands are investing in partnerships with content creators to deliver their messages more organically.
6. CTV, OTT and segmented TV
The emergence of connected television (CTV) and OTT platforms is redefining content consumption, attracting advertisers to these channels in 2024 to target users according to their interests. Segmented TV is also set to continue its advance, with Free’s subscribers set to benefit from it in their TV advertising packages.
7. Local media buying
In The Media Leader, Denis Gaucher, CEO France of Kantar Media, stresses the importance of rediscovering local roots in the face of content globalisation, in response to the day-to-day concerns of audiences. At the same time, the Les Relocalisateurs movement, which brings together agencies and advertising sales houses, aims to promote the relocation of media buying to local areas. Out of a French advertising market worth €32.7 billion, investment in local media reached €10.2 billion in 2022, representing 31.2% of the market, according to the association.
8. Platform developments
As social networks continue to grow, brands and advertisers are having to adapt. New advertising features, innovative formats and improved algorithms offer advertisers more effective ways of reaching their target audience.
9. L’in-games advertising
In-game advertising is a form of advertising integrated directly into video games to promote products or services. According to a study by Admix and Atomic Research carried out in 2021 in the United States and the United Kingdom, 93% of media buyers expect to be piloting in-game advertising strategies by 2025. This market, valued at 7.6 billion dollars in 2022, is expected to grow at an annual rate of 11%, reaching 17.6 billion dollars by 2030, according to information provided by Xenoss, a US adtech company.
10. Outdoor advertising and DOOH
According to Dentsu, the medium is set to overtake the press worldwide by 2025, thanks to the strong growth of DOOH (Digital Out-Of-Home). Combined with new augmented reality technologies, DOOH pushes back the boundaries of reality by offering audiences an immersive experience. In France, Mobimétrie, the outdoor advertising audience measurement institute, launched a new audience measurement in November based on the 2024 offers of subscribing advertising agencies. This new measurement, the methodology for which was developed in conjunction with Ipsos, will enable the market to exploit the full potential of this medium with even greater precision.
Conclusion
In 2024, advertising is evolving rapidly to adapt to an ever-changing landscape. Record advertising spend reflects the growing importance of effective communication in a digital world. The successful brands will be those that nimbly embrace emerging trends while remaining true to ethical and responsible values. Tomorrow’s advertising will be immersive, personalised and socially aware, delivering memorable experiences to today’s discerning consumers.
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