WARC 2024 GEISTE Report

The WARC GEISTE report presents a comprehensive look at the global trends shaping marketing strategies over the coming year; here’s a breakdown of the key trends across the framework:

Government (G):

• AI Regulation Race: Governments scramble to control the rapid growth of AI as acceptance grows.
• Deepfake Dilemma: Distrust in media fuels the rise of “balloting of lies” by the  deepfakes use in Elections.
• Shifting World Order: Geopolitical tensions threaten the global economy, with potential reversal of globalization.
• Sportswashing Surge: Middle Eastern sovereign wealth is invested in sports sponsorships for influence, diversification and a desire for trade and tourism

Economy (E):

• Poverty on the Rise: Governments struggle with increasing poverty after years of crisis such as the war in Ukraine, aging populations and sovereign debt at an all time high.
• Cost-of-Living Crisis Bites: Stagnant wages and rising costs create economic hardship globally fuelling a youth mental health crisis and a surge in poverty rates.

Industry (I):

• Preparing for Chaos: Businesses modelling is becoming increasingly popular in the context of global economic fragmentation, looming recession and extreme weather.
• The Talent Gap Widens: Demographics, technology, and DEI priorities challenge talent acquisition.
• Sustainability Metrics Emerge: Consumers demand transparency and authenticity, driving new sustainability measures and the fight against greenwashing.

Society (S):

• Masculinity in Flux: Social changes create identity issues for some men who can feel lost and inadequate , particularly those from lower-income backgrounds.
• The Power of Community: People turn to virtual communities for advice and support, as they unite in times of crisis and around similar passions,
• Culture Wars Intensify: Political polarization intensifies with a focus on cultural issues; the war on woke. The liberalisation of society drives resentment amongst some while filter bubbles drive polarisation.

Technology (T):

• Streaming Games Change the Game: Cloud gaming subscriptions offered by players like Microsoft and Netflix might disrupt the industry in 2024.
• AI: A Double-Edged Sword: Big Tech battles for AI dominance, raising concerns about ethical use. Collaboration and education will be critical to prevent corruption.
• Generative AI Takes Over: AI automates tasks, freeing up time for employees to focus on more strategic tasks, while a world of content generation possibilities are opened up.

Environment (E):

• Climate Crisis Intensifies: 2024 could be the hottest year on record, with the El Niño phenomenon pushing temperatures upwards and the world fails to meet the commitments of the 2015 Paris agreement.
• Local Sustainability Takes Root: Consumers focus on achievable sustainability actions to address environmental issues in their communities driven by their intimidation of the scale of the problem, and the u turn of various governments.

Understanding the GEISTE forces empowers brands to be adaptable, purpose-driven, and customer-centric. This agility will be crucial for navigating the complex and rapidly evolving landscape of 2024.

The report highlights several key challenges and opportunities for publishers in 2024:

Challenges:

• Misinformation: Deepfakes and declining trust in traditional media will make it harder for publishers to establish themselves as reliable sources.
• Economic Pressures: Rising costs and stagnant wages could decrease consumer spending on subscriptions and advertising.
• Shifting Audience: Evolving societal values and the rise of virtual communities might require publishers to adapt their content and distribution strategies.

Opportunities:

• AI-powered Content Creation: Generative AI could offer publishers new tools for content creation and personalization.
• Focus on Authenticity: Consumers’ demand for transparency presents an opportunity for publishers to build trust by emphasizing in-depth reporting and ethical practices.
• Local Focus: The rise of local sustainability efforts opens doors for publishers to provide hyper-local content and connect with communities.

Overall, publishers need to be adaptable and embrace innovation to navigate the changing landscape. They’ll need to address concerns about misinformation, cater to evolving audience demands, and leverage new technologies like AI to stay competitive.