It's the first full week back after Labor Day, and if you work in the ad industry, then you know what that means -- events season is upon us. So get your badges, book those flights and prep for the onslaught of NYC TV Week, Advertising Week, DMEXCO, Prog I/O, Groceryshop, and the myriad events happening in between.
It's the perfect segue into this episode of Tech & Soul, wherein Lynne and I go back to our event production roots and recap highlights from two events that we respectively attended: CTV Connect and the Beet Retreat.
It's a wide-ranging episode, but there are a few recurring themes -- one of which is the event producer's core challenge: How do you balance the need to fund events with sponsor dollars (and potentially lame content) with delivering content and experiences that captivate (and keep attendees coming back for more)?
There's no easy answer, but we do share a few examples of event companies that have gotten that mix right.
We also get into the weeds of two topics that came up at our respective events: the shift to streaming (and the ensuing impact on media monetization) and the rise of retail media.
The Evolving Landscape of Video Advertising
One of the most striking takeaways from recent events is the rapid evolution of video advertising, particularly in the realm of Connected TV (CTV). Gone are the days of simple 30-second spots. Today's CTV ads are becoming increasingly interactive and personalized.
At CTV Connect, a standout presentation from Kargo highlighted how CTV ads can leverage interactivity to engage viewers more effectively. For instance:
Incorporating QR codes for easy product exploration
Utilizing multi-screen experiences to enhance engagement
Implementing shoppable elements directly within video content
This shift towards more interactive advertising experiences reflects a broader trend in the industry: the need to create ads that viewers actually want to engage with, rather than those they seek to avoid.
The Power Players in Streaming
Another key insight from these events is the current state of the streaming landscape. Industry experts are pointing to Amazon, YouTube, and Netflix as the dominant forces in this space. This concentration of power is driving consolidation among other players who are struggling to compete independently.
The question on everyone's mind: Will smaller streaming services survive in this competitive environment?
This consolidation trend isn't just about survival - it's reshaping how content is distributed and monetized. As an industry, we're grappling with how to balance the need for scale with the desire for diverse, quality content offerings.
Retail Media: The Next Frontier
Retail media is emerging as a major focus for advertisers and publishers alike. The convergence of retail data with digital advertising capabilities is opening up new possibilities for targeted, measurable campaigns.
At the Beet Retreat, discussions centered on how retail media networks are expanding beyond on-site advertising to off-site opportunities. This shift presents both challenges and opportunities:
Publishers are being called upon to help retailers reach the right audiences with relevant content
There's a growing need for better measurement and attribution across the entire customer journey
The industry is exploring how to balance personalization with privacy concerns
The Walled Garden Dilemma
Still as retail media networks grow, it just highlights the continued impact of "walled gardens" - or closed ecosystems of consumer data and advertising inventory. This fragmentation poses challenges for advertisers seeking to reach broad audiences efficiently. (It also creates challenges for content creators seeking to expand their own reach).
Another key question we're all grappling with: How do we create value for advertisers, publishers, and consumers in this increasingly fragmented landscape?
As always, we’d love to know your thoughts.
Ep 10 - Walled Gardens and Open Webs: Navigating the New Advertising Ecosystem