Category: Industry Insights

Spotify Podcast Ads Surge 40% Globally as Time with Video Content Doubles

Spotify’s 2023 Wrapped report revealed major increases in podcast ads (40%) and video content (48% YoY) driven by Gen Zs, with Multi-format advertising (Video Takeover, Sponsored Sessions and Audio Ads) successful. Listening patterns of Gen Zs and Millennials fluidly changed (+1338% and +357%, respectively), with wellness playlists and podcasts increasing (+492%) amongst Millennials and 45+ demographic experiencing growth.

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Smart TV Apps Surpass Set-Top Boxes as Entry Point for TV Viewing

Viewers increasingly prefer smart tv apps over set-top boxes for ease of access to streaming services, such as live sports and news. Cable and satellite still remain important offering traditional providers a transition to streaming and stabilize subscriber numbers. Smart TVs open content and advertising opportunities while traditional providers offer integrated search.

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Q3 National TV, Video Ads Sink 3.2%: Madison and Wall

U.S. linear TV ad spend was $61.31 billion while CTV/digital advertising saw an 11.6% increase to a total of $25.09 billion in Q3 this year. Political ad spend grew 2.5% compared to four years ago, with a major spike expected during even numbered years due to elections. Traditional sellers saw a 5.6% decline and national TV/video advertising experienced a 3.2% drop, while local TV ad spend declined 2.8%.

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Box Office, TV Ad Spend Rises, But Not to Pre-Pandemic Levels

Box office revenue rose 22% to $8.1 billion in 2023, but is down 18% from 2019. Media ad spend increased 9.5% to $1.1 billion, half of the previous year. For the five major studios, four experienced spending growth. Top movies include Warner’s ‘Barbie’, Universal’s ‘The Super Mario Bros. Movie’, Sony’s ‘Spider-Man: Across the Spider-Verse’, Disney’s ‘Guardians of the Galaxy Vol. 3’ and Universal’s ‘Oppenheimer’.

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Wieser: Streaming Price Hikes May Be Working Against Pay TV

Streaming services saw a 20.7% increase in consumer spending, leading to $1.6 billion net gain. Pay-TV spending declined 6%, creating market opportunity for streaming giants such as Netflix, Amazon and Apple. Despite the surge in revenue, profitability may suffer under greater costs and customer service needs than traditional pay-TV. Global expansion is necessary to sustain long-term success.

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Hispanics Lean into New Video Experiences, Including AR/VR, Second Screen, Shoppable TV

Hispanic consumers have increased interest in video streaming, AR/VR, second-screen activities, shoppable TV and interactive content. Second-screen platforms such as Arena offer engagement and viewership. Shoppable TV appeals to Hispanics, but security concerns remain. 25% of Hispanics are interested in interactive content, rising to 33% for those with children.

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