Indrani Sen: Media Trends & Predictions 2022

22 Nov,2021

Indrani SenBy Indrani Sen

 

Last week, Kantar released its report on Media Trends & Predictions across the world. The report talks about five important trends in 2022, “Video steaming: A complex and ever-evolving market”, “Remodeling the commercial internet: How will successful advertisers and media owners navigate through such radical changes”, “A different approach to data”, “Performance media and marketing: An expanding playground for brands” and finally “Life in a pandemic: And what it means now for brands and media”.

 

John McCarthy, Strategic Content Director of the Media Division of Kantar, has said in the foreword: “This year, we’ve tightened our focus to examine five key themes, creating a report that mixes the most notable trends with evidence-guided predictions and insightful thought leadership.” Like the previous years, the report is an excellent mix of knowledge sharing interspersed with comments from senior executives of Kantar across the world tactically indicating how Kantar can help advertisers and media owners to navigate each area with their expertise.

 

Video steaming: A complex and ever-evolving market

The findings of Kantar’s TGI Global Quick View study of consumers in 25 markets shows that over half of internet-connected consumers claimed to have used over the last four weeks either Pay TV or video streaming services. Almost two-thirds of such consumers (65%) claimed they watch two or more hours of paid-for streamed content daily. As predicted in Kantar’s report for 2021, the influence of aggregators is continuing to increase and no sign of subscription fatigue is in sight giving broadcasters and platform operators new found confidence. Kantar’s SportsScope data shows a strong upswing in fan attitudes towards the most prominent streaming platforms for sport (and e-sports) over the last 12 months, particularly among younger age groups. Kantar predicts that the subscription model for SVOD will be gradually losing its power to drive long-term growth, broadcasters may get an upper hand as more audience research data are available for VOD content, content will continue to be the king and will hold the key to higher consumer engagement.

 

Remodeling the commercial internet: How will successful advertisers and media owners navigate through such radical changes

Over the last three decades, tracking cookies have played a crucial role to help the growth of the online advertising market. Google felt that the use of cookies had been pushed beyond their limits, both technologically and ethically and had planned to end the use of cookies by early 2022. However, earlier this year Google announced that the retirement of the cookies would be delayed by two years and would be a gradual process. Kantar has found through their research that majority of publishers are concerned about the inability to track online media via cookies and more than half of advertisers (59%) are concerned about the inability to track online media via cookies. The tech giants are yet to find a viable technology for replacing cookies, though everyone is experimenting. Kantar has predicted that end of the era of cookies will mark the beginning of an end for uncontrolled tech giants’ explosions, no single solution will be able to replace cookies and the panel -based data may get a new lease of life.

 

A different approach to data

Trends in 2021 has shown “marketers are continuing to allocate increasing proportions of their budgets to digital media. Growth in e-commerce and online video is fuelling digital advertising to take a forecast 58% share of the global advertising market in 2021, up from 48% in 2019.” In the survey done by Kantar 65% of marketers said consumer preference is now comfortably the biggest factor influencing media decisions. Kantar predicts that data on competitive intelligence will be a defining factor, brands will look for more first-party data enrichment for unlocking the power of their own data for building better relationships with consumers and data based behavioural planning with attitudinal overlays will be used more by brands.

 

The survey done by Kantar shows the top-ranked challenges faced by brands globally and the gaps in the current data available to the marketers.

 

 

Performance media and marketing: An expanding playground for brands

The report comments “The pandemic witnessed many brands turning to performance-based strategies to survive, but after stunning growth comes a host of challenges – in worlds both real and invented”. As the pandemic continued, the world saw a growth in performance media as brands switched their advertising tactics under global work from home and stay at home orders. The growth of social commerce has been a notable trend for 2021 and Kantar’s survey has shown that 61% of online consumers are likely to purchase from social media platforms in future. Kantar has predicted that growth and sophistication of performance media will empower advertisers and their agency partners to boost efficiency for their campaigns supported by emerging measurement solutions. Kantar further indicated “The metaverse – a collective virtual shared space – will have implications online and in performance media as 5G expands and community-focused businesses, such as Facebook – which aims to hire 10,000 people to build its own metaverse – make serious investments in associated technologies”.

 

Life in a pandemic: And what it means now for brands and media

Kantar’s Covid-19 Barometer reveals, for example, just how far e-commerce has become embedded in our lives and similar effects which pandemic had on consumers across the world. After the initial shock of 2020, in spite of a presence of Covid-19across the world, many markets (including India) are on their way to recovery. Kantar’s Brand Z data for 2021 shows that the ‘building blocks’ of strong brands have held true throughout the pandemic, reflected in an advertising growth which is stronger than expected. Kantar predicts the brands that invest – in data, insight, people and marketing – will flourish beyond the rest, TV will continue to be the preferred backbone media channel of many brand campaigns and 2022 which promises to be a bumper year for sports will aid in the overall recovery of advertising investments.

 

Kantar’s ad receptivity studies since 2001 has shown that consumers are generally much less positive about ads in online channels. This posed a dilemma for the marketers though the pandemic has accelerated the growth of online in every aspect of life including consumption of media. Kantar concludes by proclaiming that “The challenges of the pandemic will pale into insignificance against what unchecked climate change could unleash… Media plans will no longer just be about reach, frequency and driving results. The carbon footprint will be just as important”.

 

 

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