Pages

New Report Proves Ad Spendings For The Midterm Elections Exceeded $1 Billion

We are just a short time away from the upcoming US Midterm elections and a new report claims that ad spending in this regard has reached an all-time high.

The figures recorded in September were considered to be the fourth highest spending in history where data records proved how $1.1 billion had already been spent so far. And that’s about double the figures seen in the previous month where just $534 million was recorded.

The news comes to us thanks to AdImpact whose ad researchers claim that in the previous month, they witnessed a major rise in spending and predict an even bigger increase this month, as we inch closer to the big day. Figures for October are estimated to go up to $1.3 billion.

Ever since May, political ads have been trending and around $400 to $500 million were being spent. As time goes by and we get nearer, the spending is also getting out of control. But the record seen in October of 2020 is yet to be broken. This is when nearly $3.2 billion was spent.

During the start of this year, AdImpact was quick to estimate how the 2022 election period saw $9.6 billion for political ads. This is determined to be the biggest total ever witnessed in the world of the ad cycle and went above the figures recorded for any other election year.

As you can imagine, most of the funds will be related to broadcast television. And the estimates for just local television would be nearly $5.5 billion this year.

It’s a huge event and can really make some drastic decisions in terms of the ruling Congress and that’s why all eyes are on this election.


Read next: Survey Shows, How US Consumers Spend Their Bitcoins

No comments: