While 2024 is a Presidential year, there are still hotly contested Senate and House races taking place, as well. Radio will be a big beneficiary of the increased campaign spending.
New projections from AdImpact show that a record $10.2 billion will be spent in the 2024 election cycle on all forms of media. That figure represents an uptick of 13% from the previous record of over $9 billion in 2020.
However, the Presidential campaign spending has slowed in recent weeks as former President Donald Trump has essentially sealed his victory in the Republican primary, and a lack of a challenger of Democrat Joe Biden.
But with close Congressional races expected in places like Arizona, Ohio, Florida, and Illinois, radio will see an increased spend in those races.
AdImpact projects $116 million will be spent on House and Senate races with radio, while an additional $84 million can be expected from the Presidential race.
The company also adds that Chicago ($7.6 million), Cleveland ($6 million), and Washington D.C. ($5.8 million) have seen the biggest spends in the political advertising sphere in recent weeks, according to Inside Radio.
