Marketing trends you can’t ignore in 2024
We recently attended a industry webinar on the predicted media and advertising trends for 2024, here are the trends you simply can’t ignore!
Global ad spending is forecasted to increase by 8.2%, reaching £788 billion in 2024
Digital ad spending will finally achieve pre-pandemic levels in 2024, increasing by 20.9% in growth by the end of 2024
The highest ad spending sectors predicted for 2024 are as follows:
Retail – £5.69 billion
Consumer packed goods – £3.80 billion
Computing products and consumer electronics – £3.22 billion
Financial services – £3.00 billion
Automotive – £2.26 billion
Travel – £1.90 billion
Other – £6.6 billion
What marketing channels have the strongest growth predicted for 2024?
In Game +15%
The era of real-time personalisation
49% of consumers felt frustration when they received irrelevant content or offers
75% of consumers expect companies to understand their unique needs and expectations
Ad spent expected to reach £29 billion in 2024 a YoY growth of 9.2%
Digital out of home = 60.5% growth
Video = 13.3% growth
Display = 10% growth
CTV continues to make waves
This year, almost 75% of the UK population will watch digital video content and is expected to further grow in 2024.
The rise of DOOH
Digital will account for 64.7% of out-of-home spending in 2023 and is expected to surpass the £1 billion mark by 2026
In-game advertising revenue is expected to surpass £600 million in 2024, being the 4th largest revenue generator globally
49% of in-game ads drive on average 49% promoted brand recall
6 out of 10 players are likely to make a purchase after seeing an in-game advert
(Source: Stack Adapt)
If you need help ensuring your 2024 marketing plans get results, get in touch with our team today!
RAJAR Q2 stats have been revealed!
Here are the top stats from Q2 for the period ending June 2023 of Rajar’s update.
Data has revealed that the weekly population of all radio listeners has remained the same as Q1 in Q2 with 88% but has increased slightly to 49.5 million people.
Some other interesting stats –
- A record 39.2 million people are tuning into commercial radio every week, up by 1.3% on the quarter and 8% on the year.
- Commercial Radio’s share of listening has also grown massively to a new record of 54.5%, up from 51.4% in Q1
- The average user tunes into 20.5 hours of live radio each week.
- In an average week, digital listening accounts for 697 million hours, and has the highest percentage of listeners with 74%.
- At home listening has the biggest percentage with 62%, followed by transport with 25% and in the workplace with 14%.
Commercial radio now has 7.5 million more listeners than the BBC.
They’ve done it again! Heart, Capital and Smooth remain the top 3 UK commercial radio brands, resulting in Global leading the radio market with 24.9 million weekly listeners.
Heart reaches more than 11.1 million listeners each week, increasing listening hours by 3%.
Capital reaches 7.8 million listeners each week – 14% of the UK population.
Smooth reaching 5.9 million listeners each week, reporting a 4.8% increase from Q1.
Following a successful Q1, Bauer’s Greatest Hits Radio has grown by a further 12% in reach, equivalent to 5.9 million listeners each week and a total of 21.3 million listeners.
Across Wales North Wales appeared to have the most success this RAJAR
Reach has increased for Capital North Wales from 100,000 to 121,000 a staggering 21% in Q2.
Following this trend, Heart North Wales reach has also increased from 89,000 up by 14%. Its total listener hours is up by a staggering 40% from 606,000 to 846,000, whilst share of listening is up from 2.9% to 4.1%.
Other each increases include:
Greatest Hits South Wales: 72,000 to 77,000
Radio Carmarthenshire: 18,000 to 20,000
Several Welsh stations have seen a significant fall in their reach from Q1 to Q2, these include:
- Smooth Radio South Wales: 76,000 to 70,000, fell by 9%
- Capital South Wales: 154,000 to 143,000, fell by 8%
- Heart South Wales: 426,000 to 403,000, fell by 5%
Although radio listeners have switched stations, they still regularly tune in to the medium highlighting that there is still a market for radio advertising! Millions of people can still hear your message; to be heard at the right time, get in touch with our team today!
The year of the ‘Staycation’
The UK is heading for a summer of staycation. Households are leaving towns or cities and heading into more rural areas, with the majority travelling by motorway. School summer holidays are here and many in need of a break will be travelling by car to their UK holiday destination.
Now is the time to go outdoors! Outdoor advertising in the UK is on the up!
The OOH audience is returning with 60% of pre-lock down levels across all platforms, and brands are jumping back onto OOH to capture their audience’s attention. See Mcdonalds OOH ads capturing feelings of the nation. Bus traffic was back to 97% of pre-lock-down levels and roadside traffic to 97% The rate of return in proximity to significant points of interest is growing, the greatest return is in more suburban areas and areas close to the sea, in comparison to traditional high footfall areas such as city centres.
£48 billion is usually spent each year on summer travel, but with more of us looking to holiday closer to home, a large chunk of this could be injected back into the UK economy*
OOH campaigns are 27% more likely to make large shifts in brand effects (Binet and Field)
OOH campaigns see 47% uplift in sales activity effects V’s non users
Whatever your message, we are here to help…
Motorway service stations could be a great place to start with a range of options available including large format digital, 6 sheets and washroom advertising.
If you would like to book an outdoor media campaign or more, contact our friendly team here – [email protected].
Source: Parkdean Resorts’ 2020 Staycation Market Report
What did we get up to in November?
As the year (and decade) almost draws to a close, we have a look back at the month that was, November 2019.
We celebrated The Drum Out of Home Awards 2019, congratulations to all the winners!
And we started our Christmas countdown, keep an eye out for our last video of the year at the end of December!
Spotify explores new advertising opportunities
The average customer spends 25 hours a month streaming music on Spotify. Spanning 65 markets, Spotify’s audience has, to date, created two billion playlists from a library of more than 35 million songs.
Europe is the company’s largest market with 58 million monthly active users, accounting for 37% of its total audience. Spotify claimed a 42% share of the global streaming market in 2016, boasting a 95% share in Sweden, 59% in the UK and 41% in the US.
Creating 3D sound
Exploring the possibilities of extending its ad revenue, Spotify is working on different formats including podcast collaborations with publishers like Buzzfeed, sponsored playlists and skippable audio ads.
In March, Spotify released its first 3D audiovisual advert in partnership with Lionsgate UK for the release of the horror film, Ghost Stories. Audio from the trailer was repurposed to give a 3D audio effect, creating an immersive experience. The ad received click-through rates up 50% from benchmark level.
They also rolled out a self-service Ad Studio to the UK, this allows brands to create their own Spotify adverts. The advertiser can pick its audience based on age, gender, location, activity and musical taste, they can then select mobile, desktop or both, budget and dates.
This week, Google announced that DoubleClick Bid Manager, its demand-side platform, will now feature programmatic audio ads that can be placed on Spotify, SoundCloud, TuneIn, Pandora, and Google Play Music.
Are you interested in how Spotify could work for you? Give our team a call on 02921 320 200 or an email at [email protected].
British Birds of Prey Centre opens in National Botanic Garden of Wales
The British Birds of Prey Centre opened its doors for the first time on Friday 1st June.
The new Centre features 20 native brds of prey and offers visitors incredible, close-up encounters with hawks, falcons, kestrels, kites, buzzards and even eagles.
The centre’s director Emma Hill told the Garden: “This will be one of the very few places in the whole of the UK you can see a golden eagle flying.”
Already a hit with people of all ages, the Centre has two flying displays every day and a daily owl show too.
The Botanic Garden’s director Huw Francis welcomed the news of the British Bird of Prey Centre opening, saying that, with this latest addition to the menu of attractions, the Garden offer is getting close to being irresistible: “With rising visitor numbers, great reviews and a growing reputation, the Garden really is going from strength to strength. This June 1st opening is another huge milestone for us and we cannot wait to introduce our visitors to the fantastic world of birds of prey.”
Is a pre-watershed junk food advert ban going to work?
ITV’s chief executive, Carolyn McCall, has criticised plans for a possible ban on advertising foods high in fat, salt and sugar on TV before the 9pm watershed.
McCall went on to say that TV was being singled out, while other platforms didn’t have the same watershed. However, the restriction is supported by celebrities such as Jamie Oliver, a range of charities and MPs.
While McCall acknowledged the UK-wide obesity problem, she said that the issue is getting people to see junk food as part of a diet, not all of it. She also referenced the recent sugar tax, adding that ITV would “try very,very hard” to encourage manufacturers to reformulate products which include sugar, fat and salt.
The idea has also been criticised by the Advertising Association. They say evidence suggests that advertising has only a small impact on dietary behaviour, and other steps would be much more effective in tackling obesity.
Opposition to the sugar tax
The sugar tax that was introduced in April this year was met with differing actions by manufacturers. Tesco brought 85% of its own-brand soft drinks below the 5g tax threshold, while Britvic had managed to bring down 94% of its drinks. Meanwhile, AG Barr, owner of iconic Scottish drink Irn Bru, faced stiff opposition from customers when it published plans to bring sugar levels down to 4.7g per 100ml. An online petition “Hands Off our Irn Bru” has now been signed by 50,000 people. The dilemma facing manufacturers was that a major recipe overhaul would lose them more customers than a higher price. Coca-Cola, for example, said they had no plans to reduce the sugar and instead opted to lower the volume of its bottles.
40% of 10-11 year olds in London are overweight
The fight against childhood obesity has also seen plans by the mayor of London, Sadiq Khan, to ban adverts for foods high in fat, salt and sugar (HFSS). The plan is meant to tackle London’s high childhood overweight and obesity rates, almost 40% of children aged 10-11 are overweight. However, the plans have been criticised by transatlantic anti-regulation campaign group Consumer Choice Centre, with managing director Fred Roeder calling it “heavy-handed and paternalistic”.
He said: “Advertisement bans are a significant step towards censorship. Everyone wants to fight childhood obesity, but limiting the freedom of expression of the food industry and trampling on consumer choice isn’t an appropriate solution.”
Plans are expected to be presented to MPs before they break in July.
#flashbackfriday: Gregory & Gregory
This week we were tickled by the re-brand of Greggs as hipster-foodie outlet “Gregory & Gregory.”
But pastry fans can breathe a sigh of relief, as Greggs were just pranking foodies at gourmet festival, Syon’s Park Foodie Festival. Promoting their new summer menu, the chain recorded customers reactions to being told their posh snack was in fact, Greggs.
Foodies Festival is a three-day event attended amongst some of the biggest names in the business including Michelin-starred chefs from the UK’s top gourmet restaurants and TV chefs. Gregory and Gregory were bebuting new menu items such as a feta and beetroot dip salad with a roast vegetable grain, an oriental chicken sticky rice salad and their first ever vegan addition – a Mexican bean wrap.
When told he was in fact eating Greggs, one surprised festivalgoer said: “You wouldn’t normally find me in a Greggs but I think what they’ve done with these new salads is brilliant. I’ll certainly be popping in there for lunch in future.”
The battle for top spot: Snapchat, Instagram and Facebook
It’s been a rocky start to 2018 for some of the social media giants!
When Instagram began testing adverts, they had just reached 150 million daily users. This month, Facebook has announced they are rolling out the function in the US, Brazil and Mexico.
Eytan Oren, CEO of full-service agency Block Party, said his agency tracked 100 brands for two weeks in March and found that 79 of them were using Instagram Stories, while just seven were using Facebook’s version, but a look at those same 100 brands today revealed that seven had posted Facebook Stories in the past 24 hours alone.
A year ago, the stories function in the Facebook app wasn’t well-known, or well-used. But now, the function is being used more and more, and the hope is that the ads will be targeted to get people interested in new products and services.
Instagram are also releasing new features; the ability to add an image post to your story was added last week, allowing users to easily share content. However, Snapchat is faring less well than the other “big two” after a disastrous re-design earlier in the year. The new offering from Snapchat is the introduction of un-skippable ads and it may not be their best move.
Snapchat attempt to appease unhappy advertisers
To appease brands that were not happy with short average view times on their ads—less than 2 seconds on average, according to top Snapchat advertisers, the platform has introduced forced-view 6-second adverts. As well as the possibility of angering users, the adverts don’t link to longer videos or e-commerce sites as they did previously.
Snapchat slumped in Q1 2018, with its growth rate sinking to 2.13%, down from 5.05% reported in Q4. They spent the year’s first quarter trying to capitalise on Facebook’s Cambridge Analytica scandal while overhauling the design of its own app. Initial app store reviews were predominantly negative, but first-time installs and its App Store rank increased. Celebrity backlash and anecdotal declines in usage for some people have pushed Snap to waffle on the changes, in some cases changing the app to work more like the old version.
Will Snapchat ever dominate the market?
With Instagram and WhatsApp capitalising on Snapchat’s poor redesign, dwindling growth and declining revenue per user it may be time, according to Josh Constine, “it may be time for it and the world to face the fact that Snapchat could be a world-changing product without ever becoming a world-dominating business.”
Our round-up of Rajar Q1 2018
Our round-up of Rajar Q1 2018
The first Rajar results of 2018 have been released, and it is a mixed news for stations across North & South Wales experiencing ups and downs.
The crucial take-away from this quarter’s figures is that commercial radio has recorded its highest ever reach; 90% of the UK population now tune in to radio every week.
Smooth Radio South Wales suffered the biggest drop in listeners with a decline of -20.34%. Capital North West and Wales wasn’t far behind with a decline of -17.09%.
Although Heart South Wales suffered a drop in reach, down –4.09% from 416,000 to 399,000 listeners, it still maintains the top spot for listeners across Wales.
Stations to see an increase in listener numbers included 102.5 Radio Pembrokeshire whose reach increased 10%, from 38,000 to 42,000 and 106.3 Bridge FM who saw an increase of 12% from 33,000 to 37,000.
Across the board, generally average listening hours per person saw little change. This was an exception for Smooth Radio South Wales who saw a staggering decrease in their average listening hours by over half, falling from 10.1 hours per listener to just 4.2 hours.
Great news for commercial radio which saw the Heart network overtake the BBC in terms of weekly reach for the first time ever, the first commercial station to overtake the BBC. The expansion of DAB coverage has allowed digital-only stations such as BBC 6 and Kisstory to achieve record-breaking audiences in the first quarter of 2018.
The crucial take-away from this quarter’s figures is that commercial radio has recorded its highest ever reach; 90% of the UK population tune in to radio every week. The figures also show the innovation of radio into a digital platform; 63% of the UK population listen to digital radio every week via DAB, DTV, online or through an app. The digital share of the radio market is up 8% on last year.
If you want to include radio into your media mix or aren’t sure if you are using the right station(s) to deliver your campaign objectives then get in touch with us at The Media Angel. We’re here to offer impartial media guidance to ensure the best ROI on your marketing campaigns.
If you need expert advice on ensuring you’re using the right radio station(s) or want to start including radio in your marketing mix then get in touch
Ring: 02921 320200.
Say “Hello” to our newest angel!
This week we welcome Jodie, our newest team member in the role of Agency Support Executive.
Jodie is originally from Pembrokeshire, and now has completed a degree in Graphic Communication at Cardiff Metropolitan University. She is a driven individual with a passion for social media and design, eager to begin her marketing career and develop her skills further.
With experience in managing social media campaigns, Jodie is excited to see what she can bring to the Media Angel’s social media platforms and website in the future.
Global ad growth driven by digital formats
According to the latest adspend forecasts from Zenith, a host of digital formats including social media, in-feed ads, paid content, online video and native advertising are helping to fuel the growth in global advertising.
Between 2016 and 2019 Zenith said the ‘innovative’ digital ad formats will drive 14% annual growth in total display advertising, a category that still also includes traditional banner ads.
Total display expenditure will rise from US$84bn to US$126bn over this period, accounting for 64% of all the growth in global ad expenditure. By 2019 total display will account for 50.4% of internet advertising expenditure, exceeding 50% for the first time.
For the UK, Zenith forecasts total display to grow by 5% a year to 2019, when it will account for 37% of internet advertising expenditure.
Zenith said most of the growth is coming from social media (which will grow at 20% a year) and online video (which will grow at 21% a year).
“Internet display is coming into its own as a brand-building media, powered by social media and online video,” said Jonathan Barnard, head of forecasting and director of global intelligence at Zenith.
“But the distinctions between online video and traditional television are being eroded, and the two work together much better than they do separately.”
Zenith forecasts that global advertising expenditure will grow 4% to US$558bn by the end of 2017. This is down fractionally from the forecast of 4.2% that it made in June.
The UK was the stand-out growth market in Western Europe from 2011 to 2016, growing at an average of 7.3% a year. However, a slowing economy, gathering inflation, and political uncertainty over the mid-year elections and Brexit negotiations have all contributed to a sharp slowdown in UK adspend this year.
Zenith now forecasts just 0.7% growth in UK adspend in 2017, down from the 0.9% growth it forecast in June.
Are you undecided on the best channels to suit your marketing objectives? Contact our friendly team on 02921 320 200 or email [email protected] for award-winning media planning and buying advice.