Hot Takes: Our Thought Leader Circle Members’ Predictions For 2024, Part 2

In keeping with the spirit of the holiday season, we’re providing some more 2024 predictions from our TVREV Thought Leaders Circle members.

First up is Spencer Potts, CEO at Madhive, who shared some provocative thoughts about how DTC, local and regional brands were going to see the light of streaming this year, sending budgets soaring.

Streaming has revolutionized TV advertising by unleashing a vast array of regional and local advertisers. The spotlight on political ads in local markets will be overshadowed by the remarkable surge in the number of brands and campaigns from DTC, local and regional brands. 

As advertising dollars, previously tied up in local broadcast, newspapers, and out-of-home channels, recognize the potential and effectiveness of streaming, we can expect double-digit growth. 

Additionally, the integration of AI into production, targeting, and measurement workflows will gain momentum, propelling us into an era of accelerated innovation. Brace yourself for a transformative and action-packed year ahead.

Ken Norcross, VP, Data Licensing & Strategy at VIZIO/Inscape looks at the growing importance of data sets, especially for massive wave of political advertising that is expected to hit CTV next year.

2024 is going to be a huge year for political advertising and having a data set that fully and accurately helps unlock that power of CTV, both locally and nationally, will be critical for advertisers and media sellers alike. Inscape’s data will only become more relevant as measurement providers seek to harness the scale, representation and granularity of our 22 million plus opt-in Smart TV devices in order to do so. We are also focused on creating solutions to help the industry capitalize on streaming, rather than having it be an obstacle to cross-platform measurement, so we think the next year will be full of innovation that helps the entire industry.

Chip Russo, President at Truthset focused in on the growing importance of identity in the cookie-less post-2024 universe.

As Google prepares to eliminate third-party cookies and MAIDs by the end of 2024, it’s shining a light on the important role identity will play in the near future. Accurate, durable identity and demography data will be the foundation for driving meaningful outcomes in the digital marketing industry.

Damian Pelliccione, Chief Executive Officer and Co-Founder at Revry, sees 2024 as a year where advertisers will increase their commitment to a diverse range of communities.

At Revry, we envision 2024 as a landmark year for increased investments in diversity and inclusion media and advertising. We predict a growing commitment from brand advertisers to reflect the rich tapestry of intersectional LGBTQ+ experiences. Authentic queer representation is where culture has been moving, and Revry is leading the way.

Tom Cox, President at Premion shared some sage thoughts about the need for brand safety, the growing demand for proof of effectiveness, the importance of factoring co-viewing into metrics and the growing value of CTV to political advertisers.

The trajectory of CTV advertising remains on an upward curve, underscored by its proven effectiveness in driving full-funnel outcomes As we brace for an eventful year with the convergence of the 2024 election cycle and the Olympics, here are my four takes on the priorities ahead for CTV advertisers in 2024.

Don’t overlook brand safety implications with FAST channels. Not all FAST channel inventory is equal, especially in programmatic or open exchange buying approaches.

Ad dollars will prioritize outcome-driven performance. We expect advertisers to demand greater proof from their providers on ad-spend effectiveness, demonstrating sales conversions through attribution and advanced measurement tools.

Embrace co-viewing as a valuable metric. More advertisers are realizing the significance of counting each impression, especially to understand effective CPMs and how co-viewing influences engagement.

Streaming TV will be vital for the 2024 election cycle. Streaming TV is crucial for engaging voters especially in swing-state contests where geotargeting capabilities are table stakes.

Katlyn Wilson, Director of Branded Content Sales and Strategy at VIZIO focused on the creative elements with predictions about the growing role of branded entertainment and shoppable content.

As viewers continue to shift to streaming, it’s allowing brands to think beyond the traditional :15 and :30-second spot and really become the entertainment. Next year, we can expect brands to continue taking advantage of branded entertainment opportunities to deliver emotion-led storytelling, centered around audience interests. And when you integrate shoppable elements such as QR-codes into this content, it can serve as a full-funnel tool to drive both awareness and actual sales.