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OverviewAPI
The 2023-2024 election cycle is set to bring significant growth in political advertising, with projected spending reaching $10.2 billion, marking a 13% increase from the previous record. The distribution of spending is anticipated to be $2.7 billion for the Presidential race, $2.1 billion for the Senate, $1.7 billion for the House, and $361 million for governors’ races. Additionally, $3.3 billion is projected to come from downballot races and ballot initiatives. Broadcasters are expected to collect roughly 50% of the total political ad spend, while cable and Connected TV will take in $2.1 billion and $1.3 billion, respectively.

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