Industry Snapshot 2019: The Changing Media LandscapeJuly 23, 2019, written by margarita
Advertising, marketing and the media landscape look very different in 2019 than it did 10 years ago
While huge progress has been made and advances in technology provide marketers with countless options to activate their digital campaigns, this has impacted the traditional roles of media owners. For some the changing media landscape spells opportunity, for others it has meant casualty.
In 2019, the changes continue apace. It’s therefore essential for media owners to evolve and provide tailored solutions for their advertisers.
Here are some of the biggest changes happening right now.
The increase in global digital ad spend
This year, not just the media landscape but worldwide spending on digital advertising will rise by 17.6%, meaning global digital ad spend will be around the $300 billion mark.
And for the first time ever, it will account for roughly half of the global ad market.
Whilst the likes of the UK, China, Norway and Canada are well into the digital revolution, they’re set to be joined by the US this year, with digital accounting for 54.2% of total ad spend in the USA.
For media owners, once enjoying the fruits of traditional forms of advertising, the need to provide digital solutions for their advertisers is only intensifying.
The age of disruption
For many commentators, the age of disruption is now. When disruption occurs, it picks apart entire industries and reformats the status quo. And we’re currently seeing disruption occurring in a number of ways.
When new disruptors enter a market they do so by growing rapidly and challenging the traditional businesses, while advances in technology have completely re-imagined the possibilities for marketers and advertisers. The upshot of this is that established businesses chase rapid growth in the short-term by focussing their energies towards performance marketing. This always has to be done with one eye on the saliency of their brand, their long-term business objectives and the all-important customer experience.
As a media owner, it’s essential to be able to provide your advertisers with access to market-leading ad-tech to boost their performance in the short-term and enhance their customer experience; the likes of geo-location technology, re-targeting, dynamic creative and feed ads are essential for this. However, to assist with their ongoing marketing strategy and the long-term performance of their brand, it’s crucial to offer deeper insights and data through advanced insights reporting.
The combination of short-term performance with longer-term insights is a very attractive proposition for advertisers.
The impact of disruption on marketers
As everything happens at such a pace for marketers today, they are facing considerable challenges in their day-to-day working lives. The pressure of chasing short-term growth and the increasing options in ad-tech and mar-tech has led many marketers to become stressed out and overburdened.
In fact, the 2018 BIMA Tech & Inclusion report found that marketers are as stressed out as those working in the health service.
As a media owner, it’s essential to offer a simple and straightforward solution to cater to the ongoing needs of your advertisers. By catering to all of their digital display requirements in one place and by offering additional value through tailored solutions, you will ensure you will become the go-to provider for all their campaigns. Crucially that means locking them into the spend cycle with you.
There’s never been a better time to get your digital advertising offering up to scratch. By ridding your operation of legacy systems and archaic reporting and by tapping into the power of the Localstars platform, you’ll give your advertisers an end-to-end digital solution to power the performance of their businesses.
Contact us today to see how Localstars can add more value to your offering to give you a competitive edge.