Amid a hotly contested presidential race and major battles for the control of the U.S. Congress, AdImpact has raised its projections for political ad spending in the 2023-2024 election cycle from $10.20 billion to $10.69 billion. That would make this cycle 19% more expensive than the 2019-2020 cycle during the last presidential election and set a new record for political advertising.
The higher forecast included an extra $255 million for broadcasters, boosting their total to $5.35 billion, AdImpact reported.
