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As the 2024 election approaches, political advertising won’t be slowing down any time soon as it reaches $6 billion spent thus far.
According to AdImpact, more than $6.15 billion has been spent since the election cycle began late last year. That figure surpasses the $4.7 billion that was spent by this stage during the 2020 election.
The total spent on political advertising has been helped by tight Congressional races, especially Senate seats in Arizona, Montana, and Ohio, with locations likes Philadelphia, Phoenix, and Detroit also seeing large spends as battleground states.
The projections from AdImpact have remained largely the same, with the company forecasting that $10.69 billion will be spent on political advertising during the cycle. Should that ultimately come to fruition, it would be a 19% uptick compared to 2020, when $9.02 billion was spent between Republicans, Democrats, Congressional races, and issue-based measures.
