Magdalena Pusch from Framen explains in the invidis annual commentary how the three big trends programmatic, CTV and retail media will continue to shape the DooH market in 2024.
The year 2023 marks the most successful year in our company’s history to date, with record sales and a doubling of media reach compared to the previous year. Despite numerous global economic challenges, we have found innovative ways to fully exploit new opportunities in the coming year 2024. There are many positive developments, including the introduction of major new product features, which create a sense of optimism among both our team and our customers. We see three main trends for 2024: programmatic DooH, CTV and retail media.
DooH
Programmatic DooH is now enjoying a high level of acceptance and is now so widespread that it is now also popular with previously cautious market players. This trend is also reflected on a global level, for example in the USA and Latin America. We are also seeing an increase in cross-country campaigns. What is everyday life for online marketing is now also happening in DooH thanks to technical progress: every tenth programmatic campaign booking targets at least two to three countries at the same time.
The media budgets for campaigns on our Framen platform increasingly come from other digital channels. This is primarily due to the ability to use high quality videos, technical formats and DooH in combination with sound. These innovations open the door to budgets that were originally planned for platforms like Youtube, Tiktok, CTV, etc. Many newcomers are incorporating DooH into their planning for the first time and are involving their performance, PR and social media agencies into this rapidly growing world with great interest. However, we also see that many DSPs would like to ride the DooH wave, but their platforms and technical infrastructure are not ready yet for Out of Home and Instore. With Framen Ads Manager we can enable DSPs otherwise not ready yet for DooH.
CTV (Connected TV)
Linear television has long been the leading media channel for entertainment. While changing TV consumption habits are challenging traditional TV budgets, smart TV and connected TV (CTV) are now opening up new, growing opportunities for advertisers. In 2023, we have become a CTV-pioneer for Europe. For 2024 we will continue to work on establishing DooH and CTV as an alternative to TV. In this way, we make a significant contribution to the growth of the overall market and the reach for advertisers.
Retail Meda
Retail Media also continued to show strong growth in 2023. But retail media is still at the beginning of a tectonic budget shift. There is a growing awareness among FMCG brands and agencies that programmatic product sales and POS advertising offer new opportunities. This opens up new synergy for retailer complementing passive advertising revenue streams from DooH and CTV. But the holy grail is far from cracked here. Real-time measurement of advertising effectiveness with check-out and sales data will convince even more agencies and FMCG brands to fall in love with DooH retail media.
Conclusion
As we approach the end of a dynamic 2023, we look forward to 2024 with confidence and anticipation. The synergies between Programmatic DooH, CTV and Retail Media, which we have successfully promoted and developed this year, form the foundation for our future endeavors. We are convinced that the DooH market will flourish both in Germany and worldwide, driven by innovation, technical progress and an increasingly connected world. Our goal for 2024 is to set the course for our vision of a new type of communities. Because constant adaptation to the needs of our partners and customers is part of our company history, our Framen DNA.