Be it the YouTube content fiasco in the UK or the impact of demonetisation in India, the media industry has endured a turbulent year globally. Nonetheless, as we know, change and disruption is the cornerstone of this industry and there’s no denying that 2018 will be any different.
The digital journey
With around 25-30% of the total revenues coming just from digital, media agencies are investing aggressively in data and artificial intelligence to get future-ready. This shift happened as millennials and others took to the internet much faster than expected, forcing brands to chase the consumer. As the audience made a shift, ad revenues also moved in a parallel manner. In India, the share of digital in the full advertising eco system still stands at about 15%, but the growth rate is decent with 35-40% every year. This is forcing media agencies to invest in areas that drive and sustain the ongoing digital revolution.
Since YouTube’s brand safety fiasco and Facebook’s measurement errors came into the limelight, media transparency concerns have reached fever pitch. What has exacerbated these is the lack of understanding among marketers when it comes to their media investments. Marketers are attacking these issues from multiple fronts, and there is a real effort to transform. Many brands have been changing how they think about digital and stepping up standards and governance. As an industry we are redoubling our efforts to deliver a quality advertising environment, meet advertiser demands and create value for users.