Spending on political advertising in this year’s midterm elections will be up significantly from the comparable elections four years ago, with a huge spike in digital. That’s the assessment of a new forecast from Borrell Associates, with MediaPost reporting that the analysis projects an 8% overall increase to a record $8.9 billion.
“The local advertising research company says less than one-third of all political money has already been spent. Borrell raised its earlier revenue estimates by $400 million,” MediaPost reports, adding: “Broadcast TV is projected to get the bulk of the overall spending — $3.5 billion.”
Spending on digital media will surge to $1.8 billion, a 20% share, up from $70 million in 2014, according to Borrell.
“This year, it expects display will command the biggest part of digital, at $706 million. Digital video will hit $373 million, while email marketing will get to $362 million and search will reach $353 million,” MediaPost reports. “Overall, the researcher says more than 60% of every dollar will go toward social networks in terms of display and video advertising.”
Cable TV spending is projected to be $1.1 billion, a 12.5% share.