3 DATA TRENDS TRANSFORMING ADVERTISING, MEDIA, AND ENTERTAINMENTA

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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.

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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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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.

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CITATIONS

1 nature.com/articles/s41467-019-09311-w2 mck.co/3on95CD3 mck.co/3on95CD4 bit.ly/2VNFvdp