Fall’s political advertising for the midterm elections significantly ramped in September with a massive $1.1 billion in political advertising spending -- double that of August’s $534.5 million, according to AdImpact.The advertising researcher said last month saw the fourth-highest political advertising spending of any month in history, and predicts October will exceed that total, predicting actual spending and reservations for that media time will reach $1.3 billion.
Since May of this year, U.S. political advertising spending has been roughly in the $480 million to $540 million range, with May at $543.1 million, June at $486 million, July at $485.9 million and August at $534.5 million.
Currently, October 2020 -- the last Presidential year -- holds the all-time month record for political ad spending -- with $3.2 billion.
Earlier this year, AdImpact estimated the overall 2022 midterm election period would see $9.67 billion in political ad spend -- the highest total ever for any political ad cycle, exceeding any Presidential election year.
Much of the spend will continue to be on broadcast TV. Kantar recently estimated local TV alone could hit $5.5 billion in 2022.2020 Presidential election year witnessed ad spending of $9.02 billion.
Analysts say broadcast TV -- especially local Tv stations -- will continue to get much of the ad spend. Kantar recently estimated local TV alone could hit $5.5 billion in 2022.
That TV ad revenue could fund a lot of news gathering.