In 2021, $410 million was spent on political advertising. That number has grown significantly in 2023.
According to a new report from BIA Advisory Services, a forecast of $534 million will be spent on supporting political campaigns in 2023.
Over-the-air television will see the bulk of the spending, with 43.1% of that $534 million figure going toward traditional television. 13% of the buys will go to cable.
Digital has received a sizeable chunk of the advertising with 22.8%. Direct mail accounts for 9.2% of the advertising, while radio receives the smallest portion at 5.4%.
Additionally, BIA claims that Los Angeles, New York, Tucson, Detroit, and San Francisco are the five markets receiving the largest share of the ad spending. $148.9 million of the $534 million is forecasted to be spent in those five markets.
