For the first time, online media will overtake television and all other mediums in terms of time spent on a single media format, globally, in 2018. A report by GroupM, the New York-based media investment group of WPP, released on Thursday said in 2018, consumers will spend an average 9.73 hours with media, up from 9.68 hours in 2017. The report, ‘State of Digital’, says online will have a 38 per cent share, TV 37 per cent, and the balance will spread primarily across print and radio.
Media consumption and advertising investment trends are changing at faster pace. The impact of technology and digital advancement on both consumers as well as advertisers has been huge, leading to a drastic change in consumer media consumption habits and ad strategies. The ongoing rise on e-commerce has led to an increase in time spent with online media, said the report.
Thirty five countries supplied 2017 e-commerce data to GroupM, revealing cumulative transactions worth $2.105 trillion, the growth of 17 per cent over the prior year. In 2018, GroupM predicts 15 per cent growth in cumulative transactions to $2.442 trillion, which is equivalent to about 10 per cent of all retail.
The report suggests that on average across reporting countries, 44 per cent of online display investment was transacted programmatically in 2017 versus 31 per cent in 2016. This will rise to 47 per cent in 2018. For online video investment, programmatic display investment was 22 per cent in 2017, which it predicted to rise to 24 per cent this year.
“Automation and talent are the big themes in advertising’s current revolution,” said Kelly Clark, CEO, GroupM Global. “One of the downsides of specialisation is the increase in specialists who know more and more about less and less. We have to use automation to liberate brain-power, so talented people can look across the entire media ecosystem to help clients optimise short-term results and create long-term brand value,” said Clark.businesstoday