No one can argue that the media landscape isn’t changing; the question is, how do we anticipate those changes to help our clients succeed in an evolving market?
Chris Hiland, Periscope's executive vice president of media and analytics, took the stage with a cast of other top media minds for a morning of media enlightenment at Ad Fed MN’s Media Panel Breakfast. According to the panel of experts, here are a few key trends you should expect to see in media in the next five years:
We will all need to learn how to speak data. If we don’t, we have an existential problem. It’s not about everyone being an analyst, but it is about all of us being more analytical in our thinking.
Opportunities to collect data on out-of-home advertising, such as billboards, will increase greatly with smart cars and other technology allowing us to see exactly who is passing the ads.
Power of scale will die. That doesn’t mean reach and frequency aren’t important, but it means we are going to need to get there in a different way than we have historically.
TV and print aren’t dead. They will evolve radically, though.
A proactive creative idea will matter less as finding connections between channels matters more.
Radio consumption is shrinking. Audio consumption is growing.
As mobile enables more personal interactions between brands and people, those people will expect branding to become a two-way conversation with more content (not just ads) shifting to the small screen.
Rise of video and video sharing. With the rise of mobile, video is in high demand because people love visual storytelling. This includes short form, long form, snippets, streaming, etc.
The people who create and sell premium content are figuring out how to get paid fairly. Not all content, it turns out, is equal!
Advertisers are entering an era of precise targeting and subscription-funded viewing platforms.