For generations, television has stood as a stalwart advertising channel, but recent shifts in the marketing landscape are reshaping its role. According to Kantar's latest Media Reactions report, TV has dropped from its long-held position as marketers' preferred ad channel. While it remains the most trusted medium, its importance has seen a substantial decline over the past year.
In a significant twist, TV has now exited marketers' list of preferred advertising channels for the first time, marking a shift in the industry's focus.
Despite this change, it's crucial to note that TV still holds the title as the most trusted ad channel. Kantar's Media Reactions 2023 report, based on insights from 900 global senior marketers and 16,000 consumers, reveals this intriguing transformation.
In just one year, TV has plummeted from the third spot on the list of marketers' preferred media channels in 2022 to a surprising 12th place in the 2023 report.
While TV's status as the most trusted ad channel endures, only a modest net 6% of marketers intend to increase their TV ad spend in 2024.
This sharp decline in preference also extends to the realm of TV sponsorship, which has fallen from 12th place in the previous year's ranking to a less prominent 20th place.
Historically, TV has not held a high ranking among consumers' preferred ad channels, and this trend continues. However, it has consistently been a favored choice among marketers in previous studies.
Although Kantar's research suggests that TV's popularity among marketers is waning, Lindsay Clay, CEO of Thinkbox, suggests that the channel's effectiveness should take precedence over its preference ranking.
She points out that the survey does not account for marketers representing brands at various stages of growth, such as startups where TV advertising might be impractical.
Clay also highlights a crucial distinction in the survey's categorization of TV. She argues that the category labeled "TV" in the research could be more accurately defined as "linear TV." The decline of linear TV has been well-documented, she contends, while on-demand TV is on the rise.
Clay emphasizes that "TV as a whole is expanding," taking into account established UK broadcasters and newcomers like subscription streamers with ad tiers. This expansion continues to offer the extensive reach that advertisers demand from the medium.
Online video retains its throne as marketers' preferred media channel for the fourth consecutive year. A net balance of 74% of marketers indicate their intention to increase media spending on online video in 2024. However, online video does not rank among consumers' top five preferred media channels.
Sponsored events receive high marks from both marketers and consumers. It secures the top spot among consumers' preferred advertising channels and ranks second among marketers. Digital out-of-home also performs well, claiming the third spot in marketers' preferences and the fifth spot in consumers' preferences.
Cinema advertising emerges as the second most popular channel among consumers, despite not making the list for marketers.
In a shifting advertising landscape, successful campaigns seamlessly integrate into consumers' lives, whether through scrolling, viewing, or daily routines. Gonca Bubani, Kantar's Global Thought Leadership Director for Media, underscores this shift, noting that consumers increasingly prefer advertising encountered out-of-home, such as at sponsored events or in cinema settings.
While marketers may lean towards newer advertising channels, the research suggests that, when it comes to specific platforms, they often choose the tried-and-true options. As the marketing landscape continues to transform, the balance between preference and effectiveness remains a critical consideration for advertisers.
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