Proximic by Comscore, Comscore, Inc.’s programmatic targeting division and a provider of audience and targeting solutions for programmatic activation, today released its second annual State of Programmatic Report for 2024.
The report reveals that advertisers are turning to programmatic advertising in 2024 with 62% expected to increase year-over-year investment.
The report highlights several key findings, including:
- Advertisers are shifting budget from linear TV to CTV: Nearly half (43%) of all marketers plan to increase their investment in programmatic CTV advertising in 2024, with funding primarily coming from linear TV budgets.
- Contextual targeting is gaining popularity: A large majority of marketers (78%) plan to maintain or increase their reliance on contextual targeting as a viable alternative to the cookie.
- AI is expected to revolutionize programmatic advertising: Over three-quarters (76%) of marketers believe artificial intelligence (AI) will change how programmatic platforms operate.
"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."
The report also notes that advertisers are not fully prepared for the deprecation of the cookie, with nearly one-third (30%) saying they are not prepared. This suggests that marketers need to start exploring alternative targeting strategies, such as contextual targeting and AI-powered solutions.
Overall, the 2024 State of Programmatic Report paints a picture of a programmatic advertising market that is poised for significant growth in 2024. Advertisers are increasingly turning to programmatic to reach their target audiences, and they are looking for new and innovative ways to do so. As the industry continues to evolve, we can expect to see even more innovation in programmatic advertising in the years to come.