Now we move into the next phase of TV presidential content -- the debates. Unlike in previous elections, the debates come on top of wall-to-wall ads.
The ultimate ROI for political ads is measured by votes delivered -- or at least the right kind of votes.
TV debates aren't usually big dramatic affairs. Viewers need to hang in for some 90 minutes or so in order to find a big reason to cheer or groan. So there's a lot of media inefficiency.
In 2008, 52.4 million people watched the first debate between Sen. Barack ...