Building first-party data assets and investing in alternative ID solutions were revealed as key strategies for senior media and publishing execs.

A recent survey conducted by BlueConic in collaboration with WBR Insights sheds light on the strategies employed by top publishers to address the impending challenges of third-party cookie deprecation. With insights gathered from 100 senior revenue leaders across B2C and B2B publishers, including renowned companies like Hearst, Fast Company, and The Boston Globe, the survey offers valuable insights into the future of the media industry.

Key Findings:

1. Lukewarm Preparedness: While only 13% of respondents strongly agree that their organizations are prepared for media challenges, 55% somewhat agree, reflecting a mixed sentiment about the future readiness of publishers.

2. First-Party Data Vitality: A significant 38% of respondents acknowledge the fundamental role of first-party data in their revenue strategy, emphasizing its importance in revenue generation and audience engagement.

3. Diversification of Revenue Models: Publishers are exploring diverse revenue streams, with advertising remaining dominant (92%) and growing adoption of events (61%), subscriptions (54%), ecommerce (39%), and other models to bolster revenue.

4. Investment Priorities: Top investment areas for publishers include advanced data collection and analytics (69%), enhanced direct audience relationships (48%), and improved digital user experiences (47%) to drive advertising revenue growth.

5. Varied Cookie-Deprecation Strategies: While most publishers (78%) are building their first-party data assets, 66% are investing in alternative identity providers, and 60% are leveraging data clean rooms. Surprisingly, cookie deprecation didn't rank among the top three challenges, with social media algorithms, privacy regulations, and economic fluctuations taking precedence.

6. Market Confusion: Despite 85% of respondents claiming to use a Customer Data Platform (CDP), 25% cited platforms that don't align with CDP functionality, indicating market confusion and overstated capabilities by some vendors.

Insights and Recommendations:

Patrick Crane, Enterprise Account Executive at BlueConic, emphasizes the importance of first-party data and advises caution when selecting CDP solutions, urging buyers to prioritize platforms that enable seamless transformation and activation of customer data.

To delve deeper into these findings, BlueConic will host a webinar titled "Charting a First-Party Future: What's Next for the Media and Publishing Industry," offering discussions on first-party data utilization and the industry sentiment regarding third-party data deprecation.