Simone Lawson
Political advertising is a big business, with campaigns spending billions of dollars to promote their candidates and messages. In recent years, there has been a shift towards digital media, with connected TV (CTV) and online platforms like Google and Meta becoming major players in the political ad space. Despite this, broadcast TV still receives the highest amount of investment in political advertising. With the 2024 US presidential election expected to drive an all-time high in political ad spending, understanding how campaigns allocate their resources across different media and in different states is crucial for strategists and voters alike.
| Characteristics | Values |
|---|---|
| Amount spent on Google and Meta political ads in the 2022 election cycle | $2.1 billion |
| Amount spent on Google and Meta political ads in the 2024 election cycle | $619 million |
| Amount spent on Google and Meta political ads in the 2024 election cycle by nonprofits | $106 million |
| Amount spent on Google and Meta political ads in the 2024 election cycle by "gray money" from political committees | $65 million |
| Amount spent on Google and Meta political ads in the 2024 election cycle by groups with unknown forms of organization | $109 million |
| Amount spent on Google and Meta political ads in the 2024 election cycle by campaigns, parties, and other groups that are required by state or federal law to fully disclose their donors | $339 million |
| Amount spent on digital advertising in the 2024 election cycle | $1.2 billion |
| Amount spent on broadcast TV advertising in the 2024 election cycle | $5.1 billion |
| Amount spent on connected TV (CTV) advertising in the 2024 election cycle | $1.3 billion |
| Amount spent on political advertising by Kamala Harris's campaign in 2024 | $1.2 billion |
| Amount spent on political advertising by Donald Trump's campaign in 2024 | $602 million |
| Amount spent on political advertising by the Biden for President group on Google between 2018 and 2023 | $85.2 million |
| Number of states with near-unlimited cash for political ads | 9 |
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What You'll Learn
Political ad spending on Facebook and Google
Online political ad spending on Facebook and Google is a critical component of modern political campaigns. Online ads are an indispensable tool for political campaigns aiming to attract donors or sway voters. Facebook and Google, together, control a significant share of the US digital ad market, and their role in political advertising is significant.
Facebook's large user base, targeting capabilities, and ease of use make it a popular platform for political advertisers. Candidates can quickly and efficiently reach potential supporters, which is crucial in competitive elections. Google, on the other hand, captured 18.2% of all digital political spending during 2019/2020, amounting to $243.7 million. Google's political ad revenues are largely driven by YouTube, where campaigns can run similar ads to those on TV while reaching a different audience. Search spending on Google is also steady throughout the election season, as candidates aim to boost their search rankings.
In the 2022 election cycle, online advertisers spent $2.1 billion on Google and Facebook political ads, highlighting the growing importance of digital political advertising. This shift towards digital ad spending is further emphasized by the forecast that digital media would claim 28% of the 2024 political ad spend, while connected TV (CTV) was expected to account for 45% of the political campaigns' total digital ad expenditure.
The spending on Facebook and Google political ads varies depending on the advertiser and their specific campaign goals. Each advertiser has a profile detailing their spending on each platform and how much they target users in each state. For instance, during the 2020 presidential election, data revealed that the Harris campaign outspent the Trump campaign on both Meta and Google in September's second and third weeks.
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Political ad spending on Connected TV (CTV)
Political advertising spending on television has traditionally been focused on broadcast television, which still receives the highest amount of investment in political advertising. However, the rise of digital advertising has led to a shift in how political campaigns are choosing to spend their advertising budgets. This is particularly true of Connected TV (CTV), which is becoming an increasingly popular medium for political advertising.
CTV's brand safety, targeting, and local advertising capabilities make it an attractive channel for political advertisers. With the ability to target specific communities of voters based on location, age, demographics, interests, and purchasing behaviour, CTV offers a more targeted and measurable way of reaching prospective voters than linear television. This is particularly important given the recent crackdown on privacy in the world of digital advertising, which has made it harder for political campaigns to reach voters in a targeted way.
In 2020, political advertisers were the top vertical of CTV spenders, allocating nine per cent more than other top categories like auto, and health and fitness. In 2022, CTV political advertising spending in the United States was forecast to add up to 1.56 billion dollars, an increase from 2020's figure of 960 million dollars. In 2024, this number is expected to increase further, with CTV political ad buys forecast to amount to more than 1.5 billion dollars, roughly 45 per cent of the political campaigns' total digital ad expenditure.
While CTV offers a powerful channel for political advertisers to target and reach voters, it is important to note that not all CTV channels are accessible to political advertisers. For example, Disney+ recently indicated that their upcoming ad-supported tier will not accept political advertising at launch.
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Political ad spending in swing states
Pennsylvania, Arizona, Georgia, Michigan, North Carolina, Nevada, and Wisconsin are expected to be the top swing states in terms of political ad spending, accounting for 76% of the presidential general spending. Pennsylvania, the largest swing state with 19 electoral votes, led in political ad spending with $279.3 million as of October 2024. Michigan, the second-highest spender, has seen $203.7 million in political ad expenditures.
The competition between Democratic and Republican advertisers in these swing states is intense. From Super Tuesday (March 5) through July 21, 2024, Democrats outspent Republicans in the seven swing states by a significant margin. However, in states like Pennsylvania and Michigan, which are crucial for the Democrats to retain the White House, Republicans have been challenging their opponents with substantial ad spending.
The shift towards digital media and connected TV (CTV) has also impacted political ad spending in swing states. While broadcast television still attracts the highest investment in political advertising, digital media is gaining traction, with a forecast of 28% of the 2024 political ad spend. This shift reflects the changing media consumption habits of voters, with CTV devices present in 8 out of 10 US households. Political campaigns are leveraging this opportunity to target voters based on their location and purchasing behavior.
The overall spending on political ads in the 2024 election cycle is projected to be the most expensive in history, with a projected total of $10.2 billion. This includes early ad spending by the Biden campaign, which launched a $25 million, 16-week TV and digital campaign aimed at swing voters. The competition for influence in swing states through political advertising is expected to intensify as Election Day approaches.
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Political ad spending by source
Political ad spending in the US has traditionally been dominated by broadcast television, but digital media is increasingly claiming a larger share of the political ad spend. In the 2022 election cycle, online advertisers spent $2.1 billion on 14 million Google and Facebook political ads. This represented a significant shift towards digital media, with Google and Facebook ads accounting for a substantial portion of the overall political ad spend.
Broadcast TV, however, still remains a significant player in political ad spending. In the 2024 presidential elections, broadcast TV was projected to receive around $5.1 billion in ad buys, while digital video spending was forecast to be around $1.2 billion. This indicates that while digital media is gaining traction, traditional media, particularly TV, continues to be a primary avenue for political campaigns to reach voters.
The rise of connected TV (CTV) has also impacted political ad spending. In 2024, CTV ad buys were expected to exceed $1.5 billion, capturing around 45% of the political campaigns' total digital ad expenditure. The ability to target voters based on their location and purchasing behaviour has made CTV an attractive option for candidates and political parties.
Political action committees (PACs) are another source of political ad spending. PACs are established by various entities, including businesses, non-profits, labour unions, and trade groups. While PAC contributions only accounted for a small percentage of the money raised by House and Senate candidates, the Supreme Court's Citizens United decision in 2010 allowed corporations and unions to increase their political expenditures. Super PACs, a type of independent expenditure-only committee, can raise unlimited amounts from individuals, corporations, and other groups to advocate for or against political candidates.
Overall, political ad spending in the US is distributed across various media platforms, with broadcast TV still holding a significant share but digital media, including CTV, gaining traction. The influence of PACs and the shift towards digital advertising demonstrate a dynamic landscape in how political campaigns allocate their ad spend across different states.
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Political ad spending by medium
Political ad spending in the US has been steadily increasing, with a projection of over $12 billion in 2024, almost triple the amount spent in 2016. The largest portion of this spending goes to broadcast television, with around $5.1 billion forecast to be spent on this medium during the 2024 presidential elections. This is despite the growing trend towards digital media in political advertising.
Digital media was forecast to claim 28% of the 2024 political ad spend, or $1.5 billion, with connected TV (CTV) being a powerful channel for political advertisers. CTV allows for targeted ads based on location and purchasing behaviour, and with non-skippable ads, it draws viewers of all ages. In the 2022 election cycle, online advertisers spent $2.1 billion on Google and Facebook political ads.
During the 2024 election cycle, digital video spending was forecast to amount to $1.2 billion, down from $1.4 billion in 2022. CTV was expected to add up to $1.3 billion. The Biden for President group was the top spender on Google between 2018 and 2023, investing more than $85.2 million. On the other hand, governmental and political advertisers registered the highest ad spending on Meta between November 2018 and April 2022, totalling more than half a billion dollars.
Despite the growing focus on digital media, traditional TV remains a mainstay of political advertising and will continue to hold its own in the 2024 elections.
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Frequently asked questions
The amount spent on political ads varies across states and depends on the type of media used. For example, in the 2024 election cycle, candidates and political groups spent $2.1 billion on Google and Facebook ads. In the same year, $5.1 billion was devoted to broadcast TV ads, while $1.5 billion was spent on connected TV (CTV) ads.
The amount spent on ads in each state depends on various factors, including the number of undecided voters and the cost of reaching them through different media channels. Campaigns may also focus their spending on "battleground" or "swing" states, where the outcome is perceived to be more uncertain.
Political ads are placed on traditional media, such as broadcast TV, and digital media, including social media platforms like Facebook, Google, and Meta. Connected TV (CTV) is also becoming an increasingly popular channel for political advertisers due to its ability to target specific demographics and locations.
The effectiveness of political ads is debated. While some argue that ads are essential for attracting donors and swaying voters, others claim there is little evidence of their impact, especially in presidential campaigns.
