Political Ad Spending For 2024 Expected To Eclipse $10B, Breaking Record

MILWAUKEE, WISCONSIN - AUGUST 23: Republican presidential candidates (L-R), Florida Gov. Ron DeSantis and Vivek Ramaswamy participate in the first debate of the GOP primary season hosted by FOX News at the Fiserv Forum on August 23, 2023 in Milwaukee, Wisconsin. Eight presidential hopefuls squared off in the first Republican debate as former U.S. President Donald Trump, currently facing indictments in four locations, declined to participate in the event. (Photo by Win McNamee/Getty Images)
Republican presidential candidates (L-R), Florida Gov. Ron DeSantis and Vivek Ramaswamy participate in the first debate of the GOP primary season hosted by FOX News at the Fiserv Forum on August 23, 2023 in Milwaukee, Wisconsin. (Photo by Win McNamee/Getty Images)

OAN’s James Meyers
12:17 PM – Tuesday, September 12, 2023

Political ad spending is expected to break records by the end of the 2024 election cycle, going over $10 billion, which would make it the record for the two most expensive years in election cycle history. 

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AdImpact, which is a firm that tracks political spending, expects $2.7 billion will be spent on the presidential election from campaigns and outside groups. Additionally, they project $2.1 billion will be spent on the Senate, $1.7 billion on the House, $361 million on gubernatorial elections and $3.3 billion on other elections. 

With the projected numbers, the $10.2 billion expected for 2024 would be a 13% increase over the $9 billion spent during the 2020 election cycle. This is a significant increase compared to the 2016 election cycle where $2.6 billion was spent. 

This comes after ad spending in the GOP race has hit a rapid pace, with over $100 million already spent so far in the primaries, eclipsing other previous elections. 

Television streaming is expected to make a higher ad increase, TV ad spending is projected to decrease and Spanish-language ads are projected to go up 9% from the previous cycle. 

However, AdImpact expects digital spending to increase this election cycle compared to 2022, but it is not expected to hit the same numbers of the last presidential cycle. It also is projecting a 27% increase in presidential primary spending between 2020 and 2024. 

Additionally, the firm expects a 17% increase in general election ad spending to $2.1 billion, with over 75% of the projected money coming in from swing states: Arizona, Georgia, Pennsylvania, Michigan, North Carolina, Nevada and Wisconsin. 

All of the states except the Tar Heel State flipped from Donald Trump to Joe Biden in the past presidential election. 

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