Political ad spend is expected to reach $10.2 Billion in the 2024 election cycle, surpassing the $8.9 Billion spent in the 2022 election cycle and the $9 Billion spent in the prior Presidential election cycle of 2020, according to AdImpact.
The leading ad intelligence SaaS company detailed spend and other political ad trends in their first AdImpact Political Summit, held Wednesday, November 15th in New York City.
The Summit featured a 2023/2024 political spend outlook led by Kyle Roberts, CEO, AdImpact, and Michael Beach, CEO, Cross Screen Media. An overview of AdImpact’s Political competitive spend and creative platforms, as well as their Advanced TV Solutions focusing on Incremental Reach across Broadcast, Cable, and CTV were highlighted by other AdImpact executives.
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The Summit was attended by executives and high-level decision makers across the buy-side political community.
According to AdImpact, Broadcast TV will maintain its position as market-share leader with anticipated expenditures in the 2024 election cycle totaling $5.09 Billion, while Cable will account for $2.10 Billion, and Digital at $1.18 Billion. CTV will continue to advance its market position as the anticipation of total spend in the space to fall around $1.34 Billion.
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