2024: A Glimpse into the Future
As we approach 2024, the media industry is gearing up for a resurgence, fueled by the ascent of generative AI and the stabilization of advertising revenue. B2C marketing teams, eager to break free from the constraints imposed by the pandemic and economic uncertainties, are set to embark on a journey of practical experimentation.
Despite facing some legal challenges this year, media giants like Google, Meta, and TikTok are poised for a robust 2024. Meta’s remarkable Q2 revenue growth and TikTok’s continued popularity surge position these companies as leaders in the evolving media landscape. These giants are expected to enhance their offerings and push the boundaries of generative AI, strengthening their appeal to advertisers. This, in turn, will lead to calculated experimentation by marketers within established partnerships with these media powerhouses.
According to Forrester’s predictions:
Generative AI Redefining Google: Forrester anticipates that generative AI will propel Google to new heights, solidifying its status as the foremost search engine. Despite concerns about organic traffic losses to ChatGPT, Forrester’s research suggests that Google’s adoption of generative AI will enhance its credibility. In 2024, Google is expected to leverage its commercialized C4 dataset, reinforcing its position as the go-to source for reliable information.
TikTok’s Dominance in Gen Z Marketing: With 86% of US B2C marketing executives prioritizing better ways to reach Gen Zers and Millennials, TikTok is projected to secure the lion’s share of linear TV budgets. As these audiences increasingly engage with nonpremium video and gaming environments, TikTok’s constant appeal to young adults will make it the go-to platform for marketers trying to connect with this influential demographic.
Deepfake Ads and Election Misinformation: The 2024 election season is expected to witness a surge in deepfake advertising, becoming a primary driver of election misinformation. Mass adoption of AI image-generation tools will amplify the issue, prompting major platforms like Google and TikTok to mandate AI disclosures. The media community, including brands, agencies, SSPs, and publishers, will need to collaborate to implement creative scanning measures and curb the spread of misinformation.
For a comprehensive overview and additional predictions, check out Forrester’s full Predictions 2024: Media And Advertising report. Stay ahead of the curve by setting up a Forrester guidance session to delve deeper into these predictions or strategize your 2024 media and communications approach. If you’re not yet a client, access our complimentary Predictions guide for a glimpse into the transformative trends shaping the media landscape in the coming year. Explore further resources, including webinars, on the Predictions 2024 hub.
