According to analysis from advertising data firm AdImpact, political advertising in 2024 could reach $10 billion.
Several factors could play into the rise of the political advertising amount, which hit $8.9 billion in 2022. Every seat in the House of Representatives is up for grabs in 2024, while the narrow majority for Republicans in the Senate could compel the political party to spend more money.
Also, 2024 will see a Presidential race that always bolsters political spending. Former President Donald Trump has already announced his candidacy, and has also hinted at running as a third-party candidate should he not secure the Republican nomination. President Joe Biden has not announced whether he’ll seek re-election. Should he decline, AdImpact claims it would “open the floodgates” for spending from Democratic Party hopefuls.
$9.04 billion was spent on political advertising during the previous Presidential election, with an estimated $275 million spent on radio advertising.
