Forecast: $11.1 Billion in 2024 Political Ad Spend

In the realm of political advertising, the forecast for 2024 is remarkably robust. 

According to BIA, political spending in 2024 is projected to reach $11.1 billion, marking a 24% increase over 2022 and a 15.5% rise compared to 202012. Traditional advertising still holds sway, accounting for 70.2% of political ad spend in 2024, although this is down from 77.9% in 2020. 

Let’s delve into the specifics:

• Over-the-Air TV (TV OTA): Expected to receive the lion’s share of political ad dollars locally, with an estimated $4.6 billion in forecast spending.
• TV Digital: When combined with TV OTA, the total rises to $4.9 billion.
• PC/Laptop: Anticipated to be the second-highest at $1.3 billion.
• Cable TV: Expected to reach $1.1 billion, although it is the only media channel forecasted to decline from 2020 by nearly $183 million.
• Over-the-Air Radio: Holding steady at $536 million in 2024, representing a 16% increase from 2020.

Interestingly, digital advertising is on the rise, with a 28% jump in spending during the 2024 general election cycle compared to 20203. As the political landscape evolves, so do the strategies for reaching voters. Whether through traditional channels or digital platforms, political ads continue to shape the discourse and influence public opinion.