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Published Jan 2, 2023

2023 Predictions Part I

Scott Galloway delves into 2023's pivotal shifts, predicting tech layoffs due to inefficient growth, exploring TikTok's media dominance, and speculating on strategic moves like Disney's acquisition of Roblox and Airbnb's vertical integration.
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  • Ad Spending

    The advertising landscape is undergoing a significant shift, with traditional media facing a decline in ad spending. highlights that while advertising has remained stable as a percentage of GDP, the rise of platforms like TikTok is diverting funds away from old media 1. This shift is exacerbated by companies like Apple, which have empowered users to opt out of ad tracking, further impacting ad-supported media 1.

    We're going to see a fairly serious decline in old media ad spending, which has gone from bad to worse, because all of a sudden there are new competitors, there are new predators looking for those dollars.

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    As a result, media companies are expected to experience a decline in value, with many needing to cut costs to maintain profitability 2.

       

    TikTok's Growth

    TikTok's rapid growth is reshaping the media industry, posing a significant challenge to traditional media outlets. notes that TikTok's valuation has surpassed that of major companies like Disney and Twitter combined, highlighting its dominance 3. This platform's appeal to younger demographics, who prefer TikTok over traditional TV and streaming services, underscores its influence 3.

    Two thirds of Gen Z would give up all tv, all streaming media before they gave up TikTok.

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    Galloway predicts that ByteDance, TikTok's parent company, will reach a $1 trillion valuation, further cementing its status as a media powerhouse 4.

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