The majority of the global browser market has now phased out third-party cookies in response to protecting users’ privacy and personalizing a connection with the modern consumer. With Google Chrome, which controls the majority of the global browser market, following suit next year, 65.15% of the browser market will be open to new ad channels and solutions.
This is according to a survey by Alfi, an AI enterprise SaaS advertising platform, that conducted 100 interviews amongst senior advertising professionals from across the U.S., U.K., Canada, China, France, Germany, and the UAE.
The survey, which aimed “to learn more about the demise of third-party cookies and their focus on new ad channels,” found that 85% expect budgets for digital out-of-home (DOOH) advertising and online advertising to increase. Furthermore, nearly four out of five (79%) anticipate budgets for television advertising to rise following the shift away from third-party cookies.
“With web browsers increasingly blocking cookies, ad spend is being relocated to the DOOH sector quicker than we expected,” said Peter Bordes, interim CEO, Alfi. “Our research suggests strong growth for the DOOH ad sector as advertising executives expect increased budgets for all other main areas of advertising, marking DOOH market as the main beneficiary.”
Additionally, 78% of advertising executives interviewed believe DOOH advertising will represent over 50% of the total spent on out-of-home ads by 2023, with online and DOOH representing the most anticipated advertising budgets to increase following the decline of third-party cookies.
“Consumers and regulators are rightly concerned about the growing threat to privacy and personal data collection as every aspect of society becomes digitized,” said Bordes.
“Interestingly, the DOOH industry has deployed software that is much better at targeted advertising without ever collecting cookies from or personal information about its viewers and is already leading this revolution. It is now in the hands of ad executives to become leaders in the protection of consumer privacy while providing brands with the precise data they need to grow.”
According to Alfi, advertisers are increasingly demanding improved performance and capabilities from the ad technology they utilize.