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3 DATA TRENDS TRANSFORMING ADVERTISING, MEDIA, AND ENTERTAINMENTA
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AD, MEDIA, AND ENTERTAINMENTVALUE DRIVER
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INTRODUCTION
Data is the lifeblood of the advertising, media, and entertainment market. Changing media consumption habits, as well as new technological innovations, are generating more data than ever before on consumer behaviors.
However, data is spread across media firms, advertising agencies, entertainment companies, and other data providers. Businesses are reluctant to share data with one another due to increasing concerns and regulations for consumer privacy. Organizations also lack the infrastructure for new technologies that will help them better utilize data. As a result, media companies and publishers are unable to maximize advertising revenue, and organizations are unable to optimize their marketing spend and track attribution.
With Snowflake’s Data Cloud, organizations are implementing a modern data infrastructure to overcome fragmented data and sharing data across organizations seamlessly and securely. Media companies are able to get a holistic view of their audiences, improve content and customer experiences, and increase advertising revenue by providing precise data for targeting by advertisers. Advertisers and media companies are able to tie advertising spend to orders and revenue and more accurately predict the return on ad spend across various channels.
Read on to learn about the three data trends transforming advertising, media, and entertainment and how organizations can prepare for and leverage these trends to attract consumers and enable better customer experiences.
AD, MEDIA, AND ENTERTAINMENTVALUE DRIVER
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TREND #1: MEDIA CONSUMPTION HABITS ARE CHANGING
Consumers across the globe are turning
to digital channels to consume media and
make purchases, creating more data that can offer granular insights to advertising, media, and entertainment companies. Examples of
changing habits include:
• Ecommerce spending: Consumers are
increasingly going online to research
purchases and spend money.
• �Shifting�viewership: Viewers are
moving from theaters and network/cable television to self-service video-on-demand and over-the-top (OTT) content that is delivered directly over the internet.
• Increased smartphone use: More
smartphone users are using their devices to consume media and make purchases.
• Decreased�attention�spans: According to
a Nature Research article, the increasing production and consumption of content is resulting in “a more rapid exhaustion of limited attention resources.”1
Data insights can illuminate the success rates
of campaigns and content, better inform decisions about future initiatives, and help deliver more engaging, personalized experiences. Companies need the capability
to harness data from multiple sources—both internal and external—and store it in a single location for secure, easy querying and analysis.
McKinsey expects 15%–30%
growth in most categories for
consumers who purchase online
after COVID-19.2
Mindshare is the new loyalty, and to dominate mindshare among customers living in a connected world, a new approach to personalization is required.”
—CAVAN DUNN, Managing Director, Accenture Americans spent a record $10.8
billion online on Cyber Monday [in 2020], up 15 perczent from last year, making it the largest online shopping day in U.S. history, according to Adobe Analytics.”3
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TREND #2: NEW DATA-FUELED TECHNOLOGIES ARE PROLIFERATING
There will be 41.6 billion
connected IoT devices or “things”
generating 79.4 zettabytes of
data in 2025, according to IDC.4
Changing consumer behavior is causing and being driven by innovations in technology. Data is both fueling these innovations and being created in massive volumes by them. Examples of new data-fueled technologies include:
• Artificial�intelligence�(AI): AI is using data
to inform content, subscription, channel, pricing, and marketing strategies with new capabilities such as voice search and facial recognition.
• �Internet�of�Things�(IoT): IoT data can deliver insights that help marketers and content developers better target customers.
• �Smart�devices: With their phones,
wearable devices, and household smart devices, consumers are generating data that can be analyzed to achieve better business outcomes.
• 5G: 5G can support massive connectivity across devices, creating the ability to translate data into real-time ad and media insights with actionable intelligence.
• Blockchain: Blockchain makes processes
such as storing content and making
transactions simpler and more secure.
Leading ad, media, and entertainment
companies are using these new technologies
to develop better and more personalized content, acquire customers, and even discover new streams of revenue through data monetization. Organizations need the modern data infrastructure in place to
leverage these innovations.
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TREND #3: DATA PRIVACY CONCERNS ARE CHANGING HOW COMPANIES OPERATE
Along with an increase in data in the
advertising and media space comes an increase in data privacy and data security concerns. Ad, media, and entertainment
companies need to be prepared to change
the way they do business accordingly. Here
are some areas to be aware of:
• Data security: Customers face increasing
threats around identity theft and unauthorized use of data, making security a top priority for companies that handle
their data.
• �Data�privacy�regulations: Consumers
are becoming more aware of how
their personal data is being used, and
consequently they are demanding more privacy around it. In response, lawmakers are advocating for tougher regulations on how companies handle consumer data.
• �Third-party�cookies: Shifts in the media space and regulatory pressures have threatened the existence of third-party cookies, which have traditionally been a valuable source of customer data.
While security and privacy continue to be a top priority for the industry, the ability to
share and collaborate on data is still essential for success. Companies need to invest in an infrastructure and tools that allow them
to share data and collaborate securely and
efficiently.
Third-party cookies have been blocked by many browsers, and certain platforms are not sharing details about cookies/
devices. So we have to be ready for a cookie-less world.”
—BALAJI RAO, Senior VP of Technology, Dentsu International
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SNOWFLAKE ENABLES BETTER CONSUMER EXPERIENCES
Snowflake�eliminates�data�silos�to�establish�a�single�source�of�truth�across�products,�channels,�engagement,�and�advertising.�With�these�insights,�you�can�rapidly�adapt�to�consumer�expectations,�attract�and�retain�customers,�and�capitalize�on�Snowflake’s�built-in�data�privacy�and�security�features.
REACH CONSUMER INSIGHTS QUICKLY AND MORE EFFICIENTLY
Break down data silos and seamlessly harness,
integrate, store, and query consumer and customer data in one secure location to enable better, faster business decisions.
INNOVATE FASTER TO STAY AHEAD
Create and manage a data infrastructure
that enables you to utilize innovative new technologies, find new data streams, and create unique customer experiences.
MAINTAIN GOVERNANCE OVER CONSUMER DATA
Manage and securely share live, governed customer data with internal and external
data consumers via your own data exchange while leveraging Snowflake’s functionality to help you comply with consumer privacy regulations and keep your customers’ data safe.
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HEADQUARTERS London
INDUSTRY AdvertisingEMPLOYEES 66,000
PARTNER SPOTLIGHT:
CUSTOMER SPOTLIGHT:
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Data sharing has really been transformative for us, and Snowflake makes it easy. Snowflakve’s data sharing has been a great way to increase transparency between agencies and their clients while maintaining a single, secure platform.”
—CAVAN DUNN, Managing Director, Accenture
Snowflake helped democratize data in the advertising ecosystem and allowed us to glean insights from it without the help of highly skilled engineers.”
—BALAJI RAO, Senior VP of Technology, Dentsu International
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LEARN MOREVisit Snowflake for Advertising, Media, and Entertainment to
learn how you can harness the power of data to deliver highly personalized content and experiences to your consumers.
ABOUT SNOWFLAKESnowflake delivers the Data Cloud—a global network where thousands of organizations mobilize
data with near-unlimited scale, concurrency, and performance. Inside the Data Cloud, organizations unite their siloed data, easily discover and securely share governed data, and execute diverse analytic workloads. Wherever data or users live, Snowflake delivers a single and seamless experience across multiple public clouds. Join Snowflake customers, partners, and data providers already taking their
businesses to new frontiers in the Data Cloud.
snowflake.com
© 2021 Snowflake Inc. All rights reserved. Snowflake, the Snowflake logo, and all other Snowflake product, feature and service names mentioned herein are registered trademarks or trademarks of Snowflake Inc. in the United States and other countries. All other brand names or logos mentioned or used herein are for identification purposes only and may be the trademarks of their respective holder(s). Snowflake may not
be associated with, or be sponsored or endorsed by, any such holder(s).
CITATIONS
1 nature.com/articles/s41467-019-09311-w2 mck.co/3on95CD3 mck.co/3on95CD4 bit.ly/2VNFvdp