Exploring the Future of Marketing at POSSIBLE 2023

The inaugural POSSIBLE Marketing Expo & Conference in Miami brought together leaders from across advertising, technology and data to explore the new frontiers of precision marketing and connected media. There was a lot to cover: With well-established media consumption patterns changing and consumer preferences evolving, right now, the industry is experiencing unprecedented transition.

But where there’s change, there’s also opportunity. In our opinion , here are a few key takeaways from the TransUnion team on the ground (well, sand) in Miami Beach:

Ad-supported video is moving to the forefront

The new media revolution may have been underway prior to 2020, but the COVID-19 pandemic completely changed the way consumers watch, play and listen. In 2023, those changes remain, creating an environment with connectivity at the forefront.

First up is streaming, and the numbers don’t lie: With an estimated 93% of US adults watching some form of over-the-top (OTT) video platform this year, according to CordCutting, streaming is here to stay. And while premium subscription viewership has stayed relatively flat from 2022, users are flocking to ad-supported video on-demand (AVOD); according to eMarketer, 50% of the US population will be consuming some form of AVOD in the next three years.

AVOD’s explosive growth is tied to fatigue among users who are facing a saturated OTT marketplace. There are only so many dollars to go around to pay for pricey subscriptions, so it’s natural free or lower-cost options are becoming increasingly attractive. In fact, according to TransUnion’s Q1 2023 Consumer Pulse Study, price was the most-cited reason consumers would cancel a subscription to a streaming service. Given that, it should come as no surprise advertisers are taking note of AVOD’s meteoric rise. With AVOD revenues expected to exceed $31B in revenue by 2027, OTT is moving into place as the foundation of forward-looking marketing strategies.

2023 will be an inflection point for emerging channels

Streaming video is at the center of marketing and media discourse, but streaming audio is also maintaining wide adoption post-pandemic. According to Edison Research, an estimated 200 million Americans listen to audio weekly and over half of that number own smart speakers. That’s incredible penetration: The proliferation of streaming audio devices means large swathes of the US population are engaging with streaming audio at any given time, presenting an equally large audience for marketers to reach.

While still firmly in the category of emerging channel, gaming is growing. Even as in-game advertising is still a nascent industry compared to OTT and streaming audio, it has massive potential: According to eMarketer, over 50% of the US population will be gaming in 2023.

With as much opportunity as there is in connected TV and streaming audio, advertisers are also facing significant hurdles. Some legacy IDs (like cookies) don’t work with streaming devices, making it difficult for marketers to reach their target customers where they’re consuming content. That means new strategies need to be in place to power the true promise of digital marketing: personalization and addressability at scale.

It’s time to rethink what’s possible

The marketing landscape in 2023 is one of opportunity: Marketers can reach the right consumers in their preferred channels with relevant, impactful messaging — so long as the right solutions are in place.

With purpose-built tools and technologies for the modern media landscape, TransUnion is uniquely positioned to fuel tomorrow’s successful marketing strategies. TransUnion’s recently-announced suite of TruAudience® Marketing Solutions brings the power of TransUnion data to deliver advanced identity resolution and targeting capabilities to advertisers across industries. TruAudience comprises a full suite of privacy-first marketing solutions, including audience segmentation, creation and syndication; data collaboration; data hygiene and enrichment; measurement and attribution; and credit-informed marketing.

These solutions enable TransUnion to support innovative marketing initiatives and push strategic boundaries. This is especially true in emerging channels like gaming: In April, TransUnion announced an expanded partnership with Frameplay, delivering enhanced audience targeting capabilities to advertisers looking to reach the highly-engaged and active gaming consumer base. Similarly, TransUnion is proving to be a leading partner for measurement, helping companies like Ally determine the impact of their branding campaigns and allocate marketing investment dollars where they’ll be most impactful.

Change doesn’t have to be scary. With TruAudience Marketing Solutions from TransUnion, marketers can prepare for the opportunities of the new media landscape.