Proximic by Comscore Releases Findings from 2024 State of Programmatic Report

By: Proximic by Comscore via GlobeNewswire

January 16, 2024 at 09:00 AM EST

The majority of advertisers plan to increase investment in programmatic;
Contextual targeting stands out as a viable alternative to the cookie;
CTV investment will be pulled from linear TV by close to half (43%) of all marketers

NEW YORK, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Today, Proximic by Comscore, Comscore, Inc.’s (NASDAQ: SCOR) programmatic targeting division and a leading provider of audience and targeting solutions for programmatic activation, released its second annual State of Programmatic Report for 2024. The report resulted from a survey of hundreds of publishers, advertisers, agencies and technology providers and examines how evolving technologies, consumer habits, data privacy and browser regulations are impacting the programmatic advertising landscape.

The report makes clear that advertisers are turning to programmatic advertising in 2024 with 62% expected to increase year-over-year investment. In addition, the survey covers marketer preparedness for the deprecation of the cookie and perceptions about how AI will transform the buy-side and sell-side experience.

Top findings show that funding for increased CTV investment will be pulled from linear TV budgets by close to half (43%) of all marketers; nearly one-third of marketers are not prepared for cookie deprecation, and a large majority plan to maintain or increase reliance on contextual targeting. Another overwhelming majority believe AI will change the programmatic landscape.

"If 2024 plays out as advertisers indicated in our State of Programmatic report, the industry is looking at a significant increase in programmatic spend, a shift of linear TV budgets to CTV and major growth in contextual targeting as a cookie replacement strategy," said Rachel Gantz, Managing Director, Proximic by Comscore. "This year is also primed to see the industry's adoption of artificial intelligence which most advertisers believe will turn historical industry norms on their head."

More details from the report include:

Expected market share capture across web, mobile and social, video, CTV and linear TV
- For marketers who plan to increase investment in programmatic CTV in 2024, budget is primarily being pulled from linear TV with 43% of marketers planning to shift budget from linear to CTV.
- CTV is expected to see the largest YoY gain with advertisers set to spend 17% of their budgets on average across this medium, up from 14% in 2023.

Percent of marketers ready for cookie deprecation
- 30% of marketers say they are not prepared for the full deprecation of third-party cookies.

How cookie signal loss will send marketers flocking to contextual targeting
- 78% of marketers plan to increase or maintain their reliance on contextual targeting in 2024.

What channels will perform better for branding objectives vs performance
- CTV topped the ratings as the leading channel for achieving brand marketing objectives, whereas web & mobile digital was the top channel for performance marketing

Between new targeting, creative and measurement capabilities, AI is on the brink of changing the programmatic landscape as we know it.
- Over three-quarters (76%) of marketers think artificial intelligence (AI) will change how programmatic platforms operate.

For the full report, please download it here.

About Proximic by Comscore
Proximic by Comscore, a division of Comscore, Inc. (NASDAQ: SCOR) is a leader in programmatic targeting. Powered by Comscore’s trusted datasets and one of the industry’s leading natural language processing contextual engine, Proximic by Comscore enables media buyers and sellers to maximize the scale and performance of their campaigns. Through its innovative suite of ID-based and ID-free audience and content targeting segments Proximic by Comscore supports the evolution of the programmatic ecosystem, enabling clients and partners to continue executing impactful advertising strategies. For more information about Proximic by Comscore, please visit www.proximic.com.

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