Local political advertising is poised to pull in higher record levels than previously estimated -- up 8% to $7.1 billion in 2020, according to a new projection. BIA Advisory Services is raising an earlier estimate by $500 million from its estimate of $6.6 billion this past fall.
Included in that $500 million bump is an additional $197 million to be spent in online/digital media as well as $171 million on TV over the air broadcast TV media.
TV spending is estimated to now total $3.3 billion. Previously estimates released in January had TV spending to be $3.07 billion. BIA additionally now projects local radio over the air political spending to be $337.3 million. It has been at just over $312 million.
Local cable TV is now projected to be $971.8 million; local online/digital media, $1.6 billion. Earlier estimates: $915.4 million for local cable TV; $1.42 billion, local online/digital media, with search and display getting the lion’s share.
The local media research/data company says the higher projections result from recent increased spending in Presidential primary states, which includes ad spend for U.S. Senate and state governors' races, among other local contests.
BIA says the new forecast is not affected by the withdrawal of Democratic Presidential candidate Michael Bloomberg. Bloomberg has been estimated to have spent nearly $600 million in overall political advertising since he announced his campaign about three and half months ago.