There’s an emerging winner in the 2024 presidential contest: television broadcasters.
Spending on political advertising is estimated to reach a record $10.2 billion in the 2024 cycle, according to new projections from AdImpact, which tracks and analyzes spending. Local television stations are projected to rake in half — $5.1 billion — of that amount, maintaining their advertising dominance in an increasingly competitive media landscape.
Political ad spending in the 2024 US election cycle has already reached $652 million, 75% more than at the same point in the last presidential campaign. This cycle will likely surpass the all-time high of $9 billion in the 2020 cycle, according to AdImpact. “We are extraordinarily well-positioned to take share and dollars, both locally and nationally,” said then-Chief Operating Officer Tom Carter, now senior advisor, in an earnings call last month.
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