The news: Political advertising has become big enough that it’s propping up the overall ad market.
Who benefits: States projected to spend the most this year, according to AdImpact, include California ($755 million), Pennsylvania ($609 million), Illinois ($606 million), Arizona ($600 million), and Georgia ($575 million).
How we got here: The 2020 election cycle was the most expensive ever, according to OpenSecrets.
The big takeaway: Political advertising is getting bigger and bigger at a time when inflationary concerns are causing some advertisers to pull back on spending. Given that, it’s imperative for marketers evaluating the relative health of the industry to look at exactly how much political spending is hiding weakness in the economy at large.