Streaming Revenue Will Overtake Pay TV in Q3 of 2024
by Frankie Karrer
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So, you just came back from a refreshing summer vacation and are in the midst of planning your back-to-school campaigns—and then boom: the realization that Q4 is right around the corner. This year’s forecast is going to be big, even despite the current economic climate: with holiday retail sales predicted to increase 3.3% to $1.26 trillion, brick-and-mortar increasing 0.9% to over $1 trillion and ecommerce jumping 15.5% to $235.87. Many advertisers will be juggling a balancing act of two of the biggest money-making times of the year, especially since holiday shopping (like back-to-school) is being shifted to earlier.
Additionally, two years’ of pandemic-driven holiday shopping has influenced consumers’ expectations around when to shop for the best deals, which is why we expect this year’s Q4 to be longer and flatter, with less concentrated spending during the Cyber Five period. Oh, and did we mention that mcommerce (mobile commerce) will drive half of ecommerce sales this year? This means August and September are the months to test your audiences and finalize your audience strategy before you go live on your campaigns in October. Here’s how to do it (and who to target) with MNTN Performance TV.
Audience Name: Frequent Shoppers
Audience Provider: Oracle
Why they’re valuable: Could we be saying RIP to the Cyber Five? Maybe. Nearly 50% of consumers started shopping before Thanksgiving and retailers are extending their holiday sales every year, which is an indication that shoppers are on the pulse for deals all year round.
Audience Name: Rakuten (cash back app)
Audience Provider: StatSocial
Why they’re valuable: Cash (back) is king, with mobile searches for “rewards apps” grew by over 90% in the past two years, and you can bet that number to be even higher this year as consumers expect to recoup some of their spending.
Audience Name: Just the Essentials
Audience Provider: Experian
Why they’ve valuable: They say Amazon’s Prime Day (since moved to July) is an early indicator of Q4 shopping trends—which revealed that consumers are seeking out more necessity or everyday items ahead of their personal and gift shopping.
Audience Name: Sustainable Living Spenders
Audience Provider: AnalyticsIQ
Why they’re valuable: Consumers are preferring conscious consumption over material status symbols as they become more picky with who they part with their dollars (amplified during these economic times).
Audience Name: Buy Now, Pay Later Shoppers
Audience Provider: AnalyticsIQ
Why they’re valuable: BNPL isn’t going anywhere—eMarketer forecasts that BNPL usage will jump from 45.1 million to 59.3 million this year. Not surprising, since consumers want to stretch their dollars even further amid concerns of rising inflation and economic uncertainty.
Audience Name: Warehouse or Big Box Membership
Audience Provider: TruSignal
Why they’re valuable: Who doesn’t love a loyalty program? While price still remains number one priority for shoppers, they also want a premium experience too—and many loyalty programs offer exclusive access to high-demand products, fast or free shipping and more.
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