A recent report suggested that in 2020 linear budgets will drop below 30% for the first time ever. For marketers the question is whose dollars are part of the spending gap and where will they spend their money. With the advent of streaming services, television ads are no longer the best way to go. Brands looking to reach no customers have been diversifying where advertise to reach potential customers. Podcasts, which have been growing in popularity, is a big part of that diversification. Consumer behavior shifts make it difficult to nail down a captive audience. The best way to handle the new markets of advertising is to develop a media strategy that can easily incorporate new platforms to reach customers. Willingness to try new things is they key.
- In 2020, TV ad spending will be at the lowest point in recent history.
- Many new and diverse channels exist for advertising, and brands will need to adjust to the shifting consumption patterns.
- The summer Olympics and Presidential election will be two very strong instances driving behavior around them.
"The through-line in 2019 is that the forces impacting their marketing are guided by the invisible hand of content diversification."