(The Center Square) – As the 2024 election season gears up, a recently-released report predicts nationwide political spending will reach a record high $10.69 billion.
The Political Projections Report predicts that California, Pennsylvania, and Arizona will have the highest levels of spending on advertising. The report was released on Monday by advertisement tracking company AdImpact.
“This election cycle is on track to be the most expensive on record, projected to have 19% growth over the 2019-2020 cycle total of $9.02B,” the report says. “We project $5.35B on broadcast, $1.93B on cable, $1.51B on CTV, $1.12B on digital, $381M on radio, $309M on network cable, and $102M on satellite.”
The $10.69 billion was a revision from its earlier-predicted number of $10.2 billion. Political interest groups played a role in that upward revision.
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