What does the future hold for ad tech as we enter 2024? Certainly, AI will be there and companies will be looking to harness it optimally to improve content, campaigns and strategy. The streaming and TV landscape will get a bit of a shakeup as major streaming services build out their ad businesses. TikTok, while still relevant, has us wondering about its future in certain markets. All that and more are in store for 2024. Let’s take a deeper look at what may be ahead for ad tech in 2024.
What might ad tech look like in 2024?
AI
There’s a lot to come in the way of AI. We predict that virtual assistants and video will be the next major AI trend. It’s been a lot of fun testing and playing with tools like ChatGPT and other AI tools that generate images and videos. However, the images and the videos especially have been quite wonky, leading to some seriously funny content.
Overall, it’s been helpful in brainstorming and suggesting ideas for professionals across all kinds of industries, including marketing. But does it compare to human creatives? So far, we think not. In terms of how it can assist with advertising and marketing, we’ve seen it be quite useful. Still, it requires a real person to oversee its output and direct campaigns. The results come from strategically harnessing the power of generative AI and knowing how to properly put it into action. This will be a focus for companies as we head into 2024. As for the experimentation that’s to continue with the video component, we’ll likely see a lot more funny failures but we’ll also have to navigate the regulatory side, specifically around intellectual property and AI.
Netflix & Streaming Platforms
Whoever guessed that all the separate streaming platforms would someday merge and we’d essentially have satellite back might not have been so far off. With talks of mergers and “bundle deals” between streaming giants, it’s looking like something of that nature will happen in 2024. In an effort to spread their ad-supported apps, streaming platforms are more likely to come together and collaborate. For instance, Apple TV+ and Paramount+ have announced a “bundle deal”, offering discounts to subscribers. And Paramount and Warner Bros. Discovery were apparently discussing a merger. 2024 is also the year that Amazon Prime Video will launch its fully ad-supported version. Will subscribers pay to skip the ads? The industry will be watching closely.
Netflix, too, has plans to become a bigger player in retail as certain series have shown how viral shopping works in streaming TV. Sales of replica clothing in iconic shows soared as consumers look to mimic their favourite characters’ styles. Just like Netflix, other streaming services will explore how to seamlessly go from commercial to cart.
TikTok
It looks like TikTok will also break into retail, much like Instagram has done with its Instagram Shop. TikTok Shop launched in the United States in 2023, allowing content creators to sell their goods right through the app. TikTok is undoubtedly a place where products get promoted, and go viral, however, it is yet to be seen if TikTok can be a viable e-commerce channel.
TikTok is also working its way into longer-form video. The longest video runtime is now at 15 minutes; an increase from 10 minutes in October 2023. However, it’s unclear if viewers will stick around that long, especially with the platform being popular for users’ ability to quickly scroll through short videos. This move might see creators and media partners pouring money and resources into the app only to gain very little or frustrate current users. Either way, we don’t see TikTok going away anytime soon, but it has certainly lost some of its power.
Google & Cookies
Our final thoughts on ad tech in 2024 have to do with the deprecation of third-party cookies on Chrome. We wrote about Google’s announcement to get rid of third-party cookies, but will 2024 be the year they see it through? Google has said this is their plan since 2022 but several ad leaders have doubted it. Google has been testing Privacy Sandbox initiatives since 2019, searching for a way to facilitate advertising on the World Wide Web without cookie trackers. The trouble is meeting regulatory requirements and proving they’re not giving their own ad business preferential treatment.
While Google has pushed off their timetable on this before, 2024 could be the year that they finally follow through. It won’t be easy, though. We’ll likely see publishers, the ad tech community, supply-side platforms and identity providers openly venting about issues with the Privacy Sandbox APIs that will be used in place of cookies to target and measure ad campaigns.
Those are our predictions and thoughts on ad tech for this year. Do you agree?
The Future of Ad Tech in Your Business
The most important thing is to establish how all this affects your own business. Whether you’re exploring AI and how it could be used in your business or you’re wondering if you should join TikTok, get in touch with us. iDIG can provide recommendations tailored to your unique needs and business. Our team will develop and manage your marketing and ad strategy to grow your business using relevant advertising technologies and proven strategies.
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