IMAA has released its 2024 Future Trends and Insights Report.
Lead image: IMAA CEO, Sam Buchanan.
Consumer trends, including the incoming ‘Silver Tsunami’ of older Australians who will inherit their Baby Boomer parents’ wealth and the search to engage the tightly-protected ‘unfiltered self’, to the emergence of 3D out-of-home creative, the inexorable shift to short-form video and generative AI transforming the industry, a treasure trove of trends can be found in this year’s Independent Media Agencies of Australia (IMAA), 2024 Future Trends and Insights Report.
IMAA, the national, not-for-profit industry association for the independent media agency industry, has harnessed the wealth of data, trends and insights from 21 of its media owner and industry body partners and key collaborator, the IAB, to produce the industry’s most comprehensive and fascinating trends and insights report that lifts the lid on what is set to be a transformative and disruptive 2024.
The report delves into the consumer psyche, such as the dichotomy between the highly curated, digitally-led ‘filtered self’ to the fiercely protected ‘unfiltered self’, how youthfulness is no longer the domain of the young and everything from what defines, concerns and excites consumers, to who will spend, and tips for engaging effectively with them. These trends are underpinned by a strong desire for brands to demonstrate sustainability and how misinformation has led to a trust deficit.
The report also looks at next year’s hottest media trends, including sound as the next wellness frontier, the widespread adoption of generative AI, the shift to short-form video, particularly on social platforms, the arrival of 3D out-of-home creative, converged trading powered by VOZ as BVOD grows at pace, and harnessing first-party data for true personalisation.
The IMAA has identified seven key trends in the report that will feature heavily in consumer communications in 2024:
1. Generative AI will reshape marketing
2. Brands will focus on sustainable marketing
3. The rise of short-form video
4. The growth of connected TV (CTV)
5. The increasing importance of data-driven marketing
6. The personalisation of advertising
7. The rise of influencer marketing
8. The importance of authenticity and transparency.
“The incredibly insightful collective thoughts from our partners and associations on the trends and insights that will shape the year ahead are contained in our new report. In our dynamic world, where change is the only constant, staying ahead of the curve is not just a strategy; it is a necessity,” said IMAA CEO, Sam Buchanan.
“The year 2024 promises to be a pivotal one for our industry. It is a year where the boundaries of what is possible will continue to expand, where the fusion of creativity and technology will break new ground, and where the customer experience will be at the forefront of our endeavours”.
“On behalf of the IMAA I’d like to sincerely thank our media and industry body partners for helping to inform our Future Trends and Insights report that will be a powerful resource for our members to inform their clients for the year ahead”.
IMAA media owner partners include: Nova Entertainment, Nine, Seven Network, Network 10, Acast, ACM, Amazon, ARN, Bishopp, Blis, Cartology, Crimtan, Criteo, Fabulate, Foxtel Media, Go Transit Media Group, Gumtree Media, GWI, IAS Integral Ad Science, Insticator, JCDecaux, LinkedIn, Meta, Moove Media, News Corp Australia, Nexxen, oOh!, Pinterest, QMS, Quantcast, Reddit, SCA, Scentre Group Brandspace, Sports Entertainment Network, Spotify, StackAdapt, Taboola, The Trade Desk, TikTok For Business, Tonic Media Network, Torch Media, Val Morgan, Weatherzone, and Yahoo.
IMAA industry body partners include Boomtown, Commercial Radio & Audio, Outdoor Media Association, ThinkTV, and Think News Brands.
