Carat, dentsu X and iProspect experts share 2023 media forecast in latest report
Dentsu has released the second edition of its annual Media Trends report, marking that 2023 will be the year where AVOD (advertising-based video on demand) overtakes BVOD, alongside other predictions.
With insights from Carat, dentsu X and iProspect experts, the report details trends that the industry may encounter across content, commerce and community.
In the content realm, as mentioned, ad-funded video platforms will overtake subscription channels with time, as major streaming platforms are adding ad-funded tiers.
Gaming will be used as a major form of content to drive repeated users.
On the commerce front, consumers may witness the blurring line between commerce and media sites as consumers are increasingly immersed in the shopping mindset.
Retail platforms and sites are turning themselves into advertising platforms and becoming attractive brands due to retailers’ reservoir of first-party data.
Apps may consolidate their family of services and build an ecosystem of offerings.
Meanwhile, the community side will see live events picked up by brands to ramp up user engagement.
Groups may come together through a common emphasis on brand responsibility.
Speaking about the report, Sam Cousins, chief strategy officer, iProspect Australia, said: “Over the past year our personal values and commercial behaviour have become inextricably linked, media is now the access point for pretty much all of our needs creating both unparalleled opportunity for brands, but tighter tension for consumer spend as the economic crunch becomes real.”
Danni Wright, chief strategy officer, Carat Australia added: “There has never been a more exciting time to be in media. Not only is the canvas that we get to play in getting bigger with a near constant stream of new advertising arenas coming to the fore, the tools in our toolbox are also getting sharper with more avenues for audience addressability and better ways to assess and activate towards quality.”
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Darcy Song was a reporter at Mumbrella, covering media owners, adtech and social platforms. She left in October 2023.
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