U.S. political advertising spend will likely jump by nearly a third in 2024 over the previous U.S. presidential election year, with TV media again taking a lion’s share of the dollars, according to a report by research firm Insider Intelligence.
The figure is expected to rise by about 30% from 2020 to $12.32 billion this year, the report said. Ad spend on traditional media, most of which is TV, will rise 7.9% and account for 71.9% of all spend.