Marketers' budget changes for ad channels worldwide in the 12 months following 2023

During a global survey conducted at the end of 2023 among marketing decision-makers, approximately 72 percent reported plans to increase their social media spending. Search and online video followed, mentioned by 66 and 65 percent of respondents, respectively.

Online video's golden age

While social media remains a top trend among marketers worldwide, it ranked third in another survey carried out a month earlier, in late 2023. Advanced and connected TV (CTV) and digital video were the only online ad channels' whose planned budget increase surpassed 80 percent of the interviewees. That stresses the relevance of the video format across multiple digital platforms.

Traditional media's hero goes digital

Both in the presented study as well as in another research, out-of-home (OOH) media was the offline medium forecast to experience the highest rise in spending in 2024, highlighting its comeback after years of social distancing following the pandemic. There is a caveat, however: OOH advertising worldwide has increasingly shifted to digital solutions, known as DOOH. Connected billboards and outdoor displays allow advertisers and creatives to explore multiple environments and feature brands in evermore specific contexts