New political election spending projections for 2020 will now hit $10.8 billion, according to an estimate from the Center for Responsive Politics -- 50% higher than the 2016 presidential election period.
The 50% increase over the $6.5 billion total in 2016 would be another political advertising election record, according to the group. The CRP operates OpenSecrets.org, a resource for federal campaign contributions, lobbying data and analysis.
Looking at the presidential campaign only, the group projects $5.2 billion in overall political advertising spend.
Currently, the presidential ad campaign totals $3.7 billion -- higher than all previous Presidential ad spending.
A separate study from Wesleyan Media Project (in conjunction with the Center for Responsive Politics) shows former Vice President Joe Biden's campaign has spent $94 million on TV ads (138,382 TV commercial airings) from Sept. 5 through Sept. 30.
President Trump's campaign spend totaled $41 million (with 58,714 TV commercial airings).
When it comes to digital media, the study shows Biden has spent just over $32 million on Facebook and Google ads, while Trump has spent over $23 million.
Since mid-April, Biden spent $101.8 million on Facebook/Google, while Trump spent $135.2 million.
The group estimates that federal committees have already spent $7.2 billion through the first nine months of the year -- a number that will significantly climb with 30 days left to go until Election Day.
OpenSecrets tracks over 80,000 online political advertisers -- more than four times the number of committees registered with the Federal Election Commission.
An earlier estimate from Kantar CMAG forecast a $6.5 billion total political advertising 2020 season -- where broadcast TV would receive a little more than half that total -- $3.5 billion; with digital media at $1.8 billion, cable TV at $1.2 billion and radio at $500 million.