The CMO breakdown

The average tenure of Fortune 500 CMOs is 4.2 years, just short of the C-suite average of 4.6 years (Source: Spencer Stuart)

50% of all Fortune 500 CMOs are women, up from 47% (Source: Spencer Stuart)

24% of CMOs say they have a large enough budget to execute their strategy (Source: Gartner)

Marketing budgets have fallen from 9.1% of company revenue in 2023 to just 7.7% in 2024, a 15% YoY drop (Source: Gartner)

Show me the money

Media investments grew from 25.6% of spending to 27.9% YoY. However, overall media spend was flat as marketing budgets shrank (Source: Gartner)

Martech was the second largest area of spend, taking up 23.8% of budgets, down from 29.2% in 2018 (Source: Gartner)

On average, CMOs earmark 57.1% of budgets for digital channel spending, up from 54.9% in 2023 (Source: Gartner)

The Gen Z breakdown

50% of Gen Z consumers believe the financial system is rigged against them, compared to just 28% of baby boomers (Source: HumanKind)

58% of Gen Zers fear screen addiction has negatively impacted real-world relationships (Source: HumanKind)

Gen Z consumers value their internet usage more than any other generation. They would need to be paid $54,169 a year to stop using the internet, significantly more than the national average of $37,619 (Source: IAB)

Gen Z consumers would also pay $229.14 a month to continue using currently free websites and apps, up from the average of $163.50 (Source: IAB)

Like and follow

21% of social media users report purchasing a product based on an influencer's recommendation, up 33% from the year before (Source: Hubspot)

43% of Gen Z and millennials purchased something directly on a social media platform in the first quarter of 2024 (Source: Hubspot)

67% of consumers believe social media is harming the well-being of young people (Source: HumanKind)

The future of TV

An estimated 73 million households subscribe to pay TV, down from 100 million a decade ago (Source: PMG)

Free ad-supported streaming TV (FAST) holds an average share of 26% of weekly TV viewership, with 22% of consumers using FAST five or more days a week (Source: Samsung Ads)

Linear TV took up 16% of offline channel budgets, behind event marketing (17.1%) and sponsorship (16.4%) (Source: Gartner)

AI and advertising

81% of consumers prefer shopping with brands offering personalized services, which could be helped with AI (Source: Brandwatch)

75% of CMOs believe AI has a positive impact on marketing. Only 5% of CMOs say it's not an investment priority in 2024 (Source: Gartner)

12% of CMOs rank improved time efficiency as the top ROI delivered by AI investment, followed by improved cost efficiency at 9% (Source: Gartner)

Big data

95% of data and advertising professionals at brands, publishers and agencies expect continued signal loss and increased legislation in 2024 (Source: IAB)

66% of industry professionals believe they will have the reduced ability to personalize messaging in states with privacy legislation (Source: IAB)

57% of companies believe it will be harder to capture reach and frequency due to lower data quality and accuracy (Source: IAB)