Political advertising has always been big business. But the medium in which campaigns are expected to spend continues to shift. Digital advertising is expected to see massive growth in the upcoming Presidential election.
According to projections from BIA Advisory Services, political ad spending with digital media will grow 28% from its previous levels in the 2020 Presidential election. In total, more than $2.5 billion will be spent digitally on political campaigns.
“Political digital ad spending in 2024 will increase by one-third over prior years,” BIA says. “Media sellers can address this demand by including this type of ad inventory in their proposals to agencies and campaigns.”
Most political advertising on the digital side will be spent on local search and local video campaigns. 58% of the money is expected to be used on advertisements that are prominently featured on computer screens.
“Buying will lean heavily toward data-driven programmatic ad platforms to reach specific audience segments likely to register and vote,” BIA continues.
The company reports that just over $2 billion was spent on digital advertising in the 2020 election cycle. That figure dipped to less than $2 billion in 2022 before growing to a projected $2.6 billion in 2024.
The news that digital ad spending is expected to grow comes on the heels of a projection by BIA that more than $530 million is expected to be spent on political advertising in total this year. That figure is more than double what was spent in 2019.
