The article further highlights the strong growth of Over-The-Top (OTT) and Connected TV (CTV) advertising, with consumers increasingly preferring streaming services over traditional television. Video advertising also outperformed other formats, with platforms like YouTube and TikTok providing opportunities for brands to engage their target audiences. Looking ahead to 2024, the article predicts the depreciation of Google's third-party cookies, the continued growth of video and streaming services, and the increasing role of AI technologies in business operations.
Key takeaways:
- Marketers have not prepared as much as expected for the end of Google’s third-party cookies, with 73% still feeling unprepared for deprecation.
- Contextual targeting has seen wider adoption due to the deprecation of third-party cookies and stricter privacy laws, with machine learning and data analysis driving innovation in this area.
- Over-the-top (OTT) and Connected TV (CTV) saw strong growth in 2023, with consumers increasingly preferring streaming services over traditional television.
- Video advertising has outperformed other formats, with consumers expecting their favorite brands to reach them through video, and the rise of shoppable content shortening the path from awareness to purchase.