Hoffmann Murtaugh brings you the media download on the global shifts impacting our lives.
  Volume 9 Issue 1
January 5, 2024
LinkedIn's Advertising Boom: How It's Becoming The New Go-To Platform For Digital Marketers
In 2023, its annual advertising revenue surged to nearly $4 billion, marking a 10.1% increase from the previous year. Research group Insider Intelligence forecasts a further 14.1% growth in 2024. 


The DL: LinkedIn’s annual advertising revenue increased 10% in 2023. This surge is likely due to shifts away from “X” among big budget advertisers as well as LinkedIn’s ability to target at the B2B level effectively. While this is good news for LinkedIn, advertisers may have noticed CPMs and cost per leads rising as new advertisers join the platform. These growths in revenue and advertiser costs are projected to continue to rise in 2024. LinkedIn is also reportedly working on new placements for advertisers to meet this growing demand. If LinkedIn is in your marketing mix you should continue to plan for increased investment and be on the lookout for new placement options when they become available.
4 More Marketing And Advertising Predictions For 2024
It’s a new year, which means new predictions. Our analysts have already made a number of big predictions for 2024, but here are a few more from Insider Intelligence.


The DL: As we enter a new year, analysts have rolled out several significant predictions for 2024. Here's what they are watching:

1. Meta, TikTok, and YouTube will compete for the ultimate generative AI feed to differentiate themselves. One way this could happen would be to use AI filters to refine content. For marketers, this would mean users looking at personalized feeds may not be exposed to their content, however, users who do see content are more likely to be interested, engaged, and part of their target audience.
2. Brands will make big plays for Gen Alpha. The oldest Gen Alpha is turning 11 this year, therefore, a new generation is beginning to develop brand loyalty. Since their lives have been altered by the pandemic, social entertainment from TikTok and YouTube is second nature for this generation. 
3. Performance marketers will integrate attention metrics into ROI. In 2024, agency and ad tech integrations will allow performance marketers to measure attention metrics in more sophisticated ways. Since third-party cookies are going away, first-party data is crucial and advertisers need to make sure people who see their ads are actually engaged. 
4. Cheaper, ad-supported tiers come to Spotify. Joining Netflix, Disney+, Max, and Amazon Prime Video, Spotify could be the next platform to offer lower priced ad-tier offerings to help boost subscriber numbers. Platforms have much to gain with more people watching ads. Spotify already offers a free, ad-supported tier at a low price, but could offer more ad-supported tiers and access with premium features like audiobooks and AI playlists.
After A Tough Year, Podcast Execs Say 2024 Will Bring In New Advertisers Amid Stiff Competition For Listeners
Podcast execs weren’t shy about how difficult of a year it was for their businesses, facing advertising slowdowns and the challenges associated with a maturing medium.


The DL: In the face of a challenging year marked by advertising slowdowns and the maturation of the medium, podcast executives express cautious optimism for 2024. Despite difficulties in 2023, executives from five major companies anticipate continued audience growth, new advertising revenue, and opportunities to expand shows into franchises. However, the industry grapples with heightened competition, the need for more efficient content creation, and a push into video content. Executives emphasize the importance of evangelizing the medium's growth, addressing undervaluation by advertisers, and exploring new avenues, such as YouTube, to capitalize on podcasting's potential.
Instagram Continues To Test Ways To Use Notes
Teen users have been engaging with Notes at very high rates, with teens around 10x more likely to create a Note in the app, versus other users.


The DL: Instagram is experimenting with new features in its Notes tool after recognizing the popularity of the feature among teen users. Teens are reportedly 10 times more likely to create a Note in the app compared to other users. In an effort to retain younger audiences amid competition from platforms like TikTok and Snapchat, Instagram is testing profile Notes, allowing users to add notes to their profiles that last for three days. This feature would enable mutual followers to leave notes on each other's profiles, creating another communication channel within the app. Instagram is also testing displaying Notes on feed posts and Reels clips. While these experiments may be short-lived, Instagram aims to maximize engagement and maintain its appeal to younger users through the Notes feature.
Around The Town...
Cheers to a new year of progress and success! We wish you success in reaching your work and personal goals, for a rewarding and fulfilling journey ahead.
We are always up for a chat on our favorite topic: media! So, if you would like to brainstorm on how to navigate the ever-changing media landscape, we'd be happy to connect.
Hoffmann Murtaugh
 Pittsburgh, PA 15212 (412) 741-8618
Hoffmann Murtaugh is an integrated media planning and buying agency. Our approach combines media strategy and intelligence with formidable negotiations to deliver smart, efficient, and customized media solutions to our clients.