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BIA: Political Spending to Hit More Than $11 Billion

According to a recent article in TV Tech, political spending will significantly increase this year. This will be accompanied by a significant rise in spending on digital. According to the article:

“BIA Advisory Services has issued a new study forecasting that political spending in 2024 will hit a record $11.1 billion. That’s up a whopping $2.2 billion (+24%) over 2022, and $1.5 billion (+15.5%) over 2020 political ad spending. 
BIA is also predicting that political will be the top spending vertical category in 2024 for many of the media channels in BIA’s forecast, including TV OTA, TV digital, Cable TV, Radio OTA, and CTV/OTT.
While local ad spending on digital is growing, traditional advertising is forecast to account for 70.2% of political ad spend in 2024, down from 77.9% in 2020., BIA reported in a blog about the study.”

To see a complete summary of the BIA analysis in TV Tech here



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