More than 57% of the total media spend will be on offline channels like linear TV.
According to Winterberry's media spending forecast, summer Olympics and the presidential elections are expected to boost spending by 7.2% to $389.5 billion. While giving a bounce from declining spending in 2019, long-term trends for traditional media channels are expected to continue a steady decline.
Further, $233.1 billion will be spent on offline channels like linear TV and experiential marketing, overtaking online media spend. Among digital media, influencer marketing will have the fastest growth with 32.4%, followed by over-the-top services and streaming platforms with 31.6%.
The report further predicts that spending on data, analytics technology and integration is expected to increase by 6.3%. Though spending on data to improve and support ad targeting rises, the California Consumer Privacy Act (CCPA) may disturb the data-driven strategies.
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