Furloughs and ad cancellations. Multi-million dollar credit draws. Thus far, these are some of the key takeaways for Media in 2020.
Come September, however, that portrait could very well change. Thank POTUS, former Vice President and presumptive Democratic presidential candidate Joe Biden — and COVID-19.
Thanks to the novel coronavirus pandemic, political ad dollars are now forecast to be even bigger, in lieu of in-person rallies and door-to-door canvassing.
That’s according to a newly released report from Advertising Analytics and Cross Screen Media that revises upward the total ad spending for the 2020 election cycle to come in at $6.7 billion, instead of $6 billion.
The report, distributed by Politico, specifically notes a “lack of face-to-face campaigning” as a catalyst for increased ad spending.
So far, a cumulative $2.19 billion has been spent during the 2020 cycle. This is over $1 billion more than what was spent at this point in 2016 and 2018, and when excluding the Mike Bloomberg for President campaign some $1.58 billion has been spent so far. That’s nearly twice that of any other election cycle, Advertising Analytics and Cross Screen Media find. In 2016 and 2018, 54% of the cycle’s total cash was spent in the final 10 weeks.
How did broadcast media fare?
Some $4.9 billion in political ad spending on traditional media (broadcast television, cable, and radio) was seen. By comparison, some $1.8 billion went to digital video — the majority of which was tied to Facebook and Google.
The breakdown is as follows, by media type:
What’s the market-by-market outlook?
“We expect Florida and North Carolina to each have two markets exceeding $100 million in revenue,” Advertising Analytics and Cross Screen Media say.
In the Sunshine State, Tampa is forecast to be a $113 million political market, with Orlando a $108 million political market. Why not Miami or West Palm Beach? It’s less of a battleground when going “down-ballot.”
In the Tar Heel state, Charlotte is forecast to be a $150 million political ad market, while Raleigh comes in at $104 million.
The biggest markets for political ad dollars? Phoenix, at $218 million, and Philadelphia, at $199 million.
