Local Campaigns Drive Midterm Spending
With two months until the midterm elections this year’s Political ad spending picture is starting to come into focus. According to a Borrell Associates report total US Pol spending is projected to finish at $8.9B this year, which is $400M higher than their original forecast in January. During the last midterms in 2014 candidate and advocacy spending totaled $8.3B – so we’re looking at a +7% cycle-over-cycle increase.
As you can see in the graphic below, TV still hauls in over half the total with $4.6B spent between Broadcast and Cable TV. Digital continues its ascension with $1.8B in projected spending – if those numbers hold Digital will become the #2 media channel for Political spending this year.
The higher-than-anticipated forecast is being attributed to a robust local playing field. In these times of political extremism every House seat, Mayoral race and ballot initiative seem to be up for grabs. And thanks to social media little-known candidates can come out of nowhere and challenge established incumbents. As a result more resources than ever are going to into market-level races.
If you’ve spent any time in Political advertising you know spending patterns can shift in the blink of an eye. So we won’t really know how this cycle nets out until after November 6th. In the meantime forward indicators are making this look like a very healthy election season indeed.