Report: Radio most trusted, AI on the increase, and smart speakers rein in 2019

Australia will lead the world in the 5G race, AI will be adopted at a rapid rate for better customer experience, and smart speakers will be the fastest growing consumer device of the year

DSC_8021.JPG
DSC_8021.JPG

Radio looks set to remain Australia’s most trusted form of media, with media buyers increasingly targeting the medium, according to Deloitte’s latest TMT predictions.

Deloitte also predicts Australia will lead the world in the 5G race, AI will be adopted at a rapid rate for better customer experience, and smart speakers will be the fastest growing consumer device of the year.

Deloitte’s TMT Predictions is an annual report produced by Deloitte Global, which reveals what the consulting giant believes to be the major Technology, Media and Telecommunications (TMT) trends globally over the next one to five years.

According to the report, radio has been underappreciated as an effective advertising channel in today’s digital marketing landscape, given the number of people tuning in nationally has continued to trend upwards, with record ratings throughout 2017. Changes in consumer trust and the media regulatory landscape are anticipated to bode well for radio broadcasters in 2019. The demonstrated distrust domestic (and global) consumers are increasingly showing towards online marketing channels is expected to enhance the appeal of commercial radio broadcasters from an advertiser’s perspective.

Deloitte predicts global radio revenue will reach $US40 billion in 2019, a small but steady one per cent increase from 2018. Nearly three billion people worldwide listen to radio every week, with adults listening to an average of 90 minutes a day. Australians spent an average of 125 minutes daily listening to radio in 2018, well above the global figure, and this is expected to remain the same for 2019.

“We predict radio will become an increasingly appreciated advertising medium in Australia in 2019. The 25-39 year old age group spends more than 65 percent of their commercial audio consumption time on radio, making it the perfect platform to target this group,” partner at Deloitte Digital, Leora Nevezie, said.

“This is particularly relevant as the Australian industry is trialling more effective ROI measurement tools for radio, similar to those used in the US and other markets. With more Australians listening to music via ad-free subscriptions through Spotify and Apple Music, radio broadcasters are likely to benefit from more ad spend.

“Radio is also the most trusted form of media, according to Roy Morgan’s MEDIA Net Trust Survey. This highlights the credibility of the platform in the public’s eye, and is an important consideration for companies when planning advertising campaigns.”

AI on the increase

According to the report, Australian organisations have been experimenting with artificial intelligence (AI) in back and front office, and are now beginning to scale across their organisations. Because AI is now being embedded into products and platforms, and enabled as-a-service by cloud providers, Australian companies can now overcome the shortage of AI subject matter experts within businesses, and begin to realise the benefits promised by AI.

In Australia, AI is predicted to be the lynchpin to excellent customer service and streamlining business operations in 2019. But to really succeed, companies must develop both data and application governance frameworks to ensure AI programs are transparent, robust and operate ethically.

Voice

Deloitte also expects to see the smart speaker market continue to grow in Australia in 2019 before slowing down as it approaches the adoption rates of other English-speaking countries.

However, concerns among Australian consumers over privacy may create a barrier to achieving the rates of growth seen for voice-activated devices in other parts of the world.

If the major manufacturers can continue to improve the experience offered by these devices including the functionality, the AI that powers them, and ultimately the usefulness, then they will be able to justify the bench space they occupy in consumers’ homes and can become an important part of consumers’ daily lives.

If new use cases do not emerge quickly enough to engage consumers we may well see growth start to taper off after 2019 as the novelty begins to wear thin.

5G

Deloitte forecasts 25 network operators will launch 5G services globally in 2019, a figure expected to double in 2020. The high data speeds and low latency 5G provides could spur the next evolution of health care, smart transport, manufacturing and nearly every industry that relies on connectivity.

Deloitte predicts 1 million 5G fixed wireless access devices will be installed around the world in 2019, with Australia predicted to install 10,000 devices by year’s end.

The report also found continued TV viewership rates for both free-to-air and pay TV stations thanks to Australia’s love for sports betting, while eSports is predicted to continue its stride towards becoming a mainstream form of entertainment in 2019.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+:google.com/+CmoAu    

 

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

Launch marketing council Episode 5: Retailer and supplier

In our fifth and final episode, we delve into the relationship between retailer and supplier and how it drives and influences launch marketing strategies and success. To do that, we’re joined by Campbell Davies, group general manager of Associated Retailers Limited, and Kristin Viccars, marketing director A/NZ, Apex Tool Group. Also featured are Five by Five Global managing director, Matt Lawton, and CMO’s Nadia Cameron.

More Videos

The best part: optimizing your site for SEO enables you to generate high traffic, and hence free B2B lead generation. This is done throug...

Sergiu Alexei

The top 6 content challenges facing B2B firms

Read more

Nowadays, when everything is being done online, it is good to know that someone is trying to make an improvement. As a company, you are o...

Marcus

10 lessons Telstra has learnt through its T22 transformation

Read more

Check out tiny twig for comfy and soft organic baby clothes.

Morgan mendoza

Binge and The Iconic launch Inactivewear clothing line

Read more

NetSuite started out as a cloud-based provider of Enterprise Resource Planning software or as NetSuite solution provider, which companies...

talalyousaf

NetSuite to acquire Bronto's digital marketing platform for US$200m

Read more

Thanks for sharing this post, its really good information I get through this blog.CDPO Online Exam Training

Infosectrain01

3 ways Booking.com is improving its B2B marketing game

Read more

Blog Posts

Getting privacy right in a first-party data world

With continued advances in marketing technology, data privacy continues to play catchup in terms of regulation, safety and use. The laws that do exist are open to interpretation and potential misuse and that has led to consumer mistrust and increasing calls for a stronger regulatory framework to protect personal information.

Furqan Wasif

Head of biddable media, Tug

​Beyond greenwashing: Why brands need to get their house in order first

Environmental, Social and (Corporate) Governance is a hot topic for brands right now. But before you start thinking about doing good, Craig Flanders says you best sort out the basics.

Craig Flanders

CEO, Spinach

​The value of collaboration: how to keep it together

Through the ages, from the fields to the factories to the office towers and now to our kitchen tables, collaboration has played a pivotal role in how we live and work. Together. We find partners, live as families, socialise in groups and work as teams. Ultimately, we rely on these collaborative structures to survive and thrive.

Rich Curtis

CEO, FutureBrand A/NZ

Sign in