TV has dropped out of marketers’ list of preferred ad channels for the first time, despite still being the most trusted medium, according to research from Kantar.
TV has plummeted from third on the list of preferred media channels for marketers in 2022, to 12th, according to the Media Reactions 2023 report. The survey of 900 global senior marketers and 16,000 consumers finds TV remains the most trusted ad channel, however, only a net 6% of marketers say they will upwardly revise TV spend in 2024.
The importance of TV sponsorship also declined among marketers, falling from 12th last year to 20. TV has never ranked highly among consumers, and again fails to make the top list, however, it has historically been favoured by marketers in the study.
While Kantar’s research suggests TV is falling out of favour with marketers, Thinkbox CEO Lindsay Clay argues that the channel should be judged on its effectiveness, not where it ranks in terms of preference.
She points out that the survey does not account for marketers in brands at different stages of growth, such as start ups where TV advertising might be out of the question.
The ad channel categories in the survey split TV into its “component parts”, she says. She argues the category termed TV in the research could more accurately be called linear TV.
The decline of linear TV is well-documented, she argues, while on-demand TV is in growth.
“TV as a whole is expanding,” Clay argues.
“The collective reach potential for TV advertising – established UK broadcasters and new players like the subscription streamers who have launched ad tiers – will continue to offer the mass scale that advertisers require from it.”
Online video retains its title as marketers’ preferred media channel, a position it has held for four years running. A net balance of 74% of marketers indicate they will increase media spend on online video in 2024. Online video does not fall in consumers’ top five preferred media channels.
Both marketers and consumers rank sponsored events highly. It is the top advertising channel for consumers, and second for marketers. Digital out-of-home also ranks well among both marketers (third preference) and consumers (fifth).
Cinema advertising is the second most popular channel for consumers, despite not making the ranking for marketers.
“Successful advertising today seamlessly integrates into consumers’ lives: in their scrolling, viewing or simply while they go about their days,” says Gonca Bubani, Kantar global thought leadership director, media. “This year, consumers have spoken up and said they strongly prefer advertising that they see out-of-home, like at sponsored events or the cinema.”
While marketers may be more likely to prefer newer channels for advertising, when it comes to selecting specific advertising platforms, the research suggests marketers prefer to err on the side of caution.
After a messy takeover and rebrand by owner Elon Musk, X (formerly known as Twitter) now has a trust rating of just 7%. It’s perhaps unsurprising, given the turbulent year it has experienced, that it does not appear in either marketers’ or consumers’ lists of preferred channels.
Indeed, a net balance of 14% of marketers report they will be reducing ad investment on X in 2024.
YouTube is marketers’ preferred ad channel, rising two places to take Instagram’s 2022 crown. The video service is also the most trusted ad platform. Trust often plays a strong role in the platforms preferred by marketers, with highly-trusted Google taking second place in the ranking.
Meanwhile, for consumers, YouTube is ranked as one of the least attention-grabbing advertising channels. It does not make the top five preferred channels for consumers, who instead rate Amazon as their preferred ad channel.
Consumers and marketers agree that TikTok is the most attention-grabbing ad platform. It ranks number three in consumers’ most preferred ad platforms and fourth for marketers. Around half of marketers do not consider attention as important for media channels compared to brand or sales outcomes.
Last year, the marketing world was abuzz with talk about the potential of the metaverse. In 2022, a net 61% of marketers claimed they would increase spend in the metaverse this year; however, a net balance of just 12% actually did. The net balance of marketers claiming they will invest more in the metaverse in 2024 is now just 22%.