5 charts to prepare marketers for 2024

It’s December, which means marketers should already have plans in place for 2024. The next year will be punctuated by increasing retail media and connected TV (CTV) ad spend, creator economy evolution, and even more AI. Here are five charts to prepare you for what’s ahead.

1. Retail media is on the rise

US retail media ad spend in 2024 will be even higher than we initially projected, at $59.61 billion, according to our forecast. Spend will grow by more than 20% every year through the end of our forecast period in 2027. Amazon Ads and Walmart Connect will lead the pack for retail media ad spend, but more players continue to enter the game.

One reason spend is increasing is the expansion of connected TV (CTV) and other off-site formats.

For 2024: Retail media isn’t just here to stay—it’s here to expand. If you haven’t explored this ad channel yet, now is the time.

2. CTV still has room to grow

When it comes to CTV, the share of time spent among viewers exceeds the share of ad revenues across most platforms, per our forecast. CTV still has ad potential as advertisers catch up to usage habits. CTV ad spend will grow as the ad businesses for Netflix and Disney+ mature. But for now, YouTube leads competitors in both time spent and ad spend.

For 2024: Embrace the pivot to digital. It’s where viewers are spending an increasing amount of time and where ad formats tend to be more shoppable.

3. Cookies are going away, for real

Google confirmed last month that it will begin deprecating third-party cookies in 2024. The move has been pushed back for years, but the so-called cookie-pocalypse is upon us. Nearly 50% of advertisers and publishers worldwide are embracing first-party data activations as they prepare for the cookie’s crumble, according to February 2023 DoubleVerify data.

For 2024: Make sure you have a post-cookie plan in place.

4. The creator economy is alive and well

Creators are at the center of social media marketing. US influencer marketing spend will continue its double-digit growth through 2025, according to our July 2023 forecast. The industry is outpacing paid social ad spend in growth, and a lot of that spend is also coming from boosted creator campaigns.

For 2024: Pay attention to creators, especially niche ones with smaller followings who may be less expensive and have a highly targeted audience.

5. Another year of AI buzz

2023 was major for AI, and that buzz will carry into the next year. Some 55% of C-level executives worldwide consider AI advancements a leading concern for 2024, per Accenture’s September 2023 data.

For 2024: Keep experimenting with AI, and stay aware of how major players like Microsoft, Amazon, Google, and OpenAI are innovating.

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