Media Buyers Count Cost of Managing Multiple Platforms-New Survey

Why it matters

Solving this ‘platform paralysis’ could unlock significant sums in revenue for agencies by 2026, according to Criteo, the commerce media company that conducted the study*. It found that respondents are losing almost 10% of the working week managing a growing number of media buying platforms.

Based on estimates that digital advertising spending worldwide will reach $835.8bn by 2026, Criteo suggests that the time lost switching between platforms and aggregating data equates to a multibillion dollar missed opportunity.

Takeaways 

• In markets where the hours lost through switching platforms is highest, such as the UK, almost a third (29%) of media agency professionals feel the current technology that they use for media buying is inefficient or unsuitable.
• Most agencies in the US and EMEA (78%) expect to add at least two or more media buying platforms to their portfolio this year – meaning the average number of platforms in use is expected to rise from five to just over seven in 2023.
• 42% of media agencies across the US and EMEA attributed their platform growth to new retail media offerings, while 45% believe new streaming offerings such as ad-supported tiers on Disney+ and Netflix have contributed to the increase.
• More than half (54%) expect their campaigns throughout 2023 will be predominantly based on first-party data which, in the case of retail media, enables advertisers to prove the impact of ad spend on purchase decisions, closing the measurement loop.

*Criteo surveyed 842 senior agency professionals across the US, UK, France and Germany to establish the various strengths and development areas of major digital media channels. 

Credit: WARC,  Criteo