US Political Ad Spending Forecast 2024

CTV Share Grows as Campaigns Rethink Social Media Strategies

Political advertising is growing and changing. Campaigns and interest groups will spend more than ever promoting candidates and causes on media channels. This year, these advertisers will continue to direct the bulk of their budgets to linear TV, but they will also capitalize on the refined targeting capabilities of connected TV (CTV) and social media as they grow their investments in those venues. Against the backdrop of an increasingly polarized electorate, political advertisers are also focused on the potential pitfalls of misinformation and reputational risks.

Key Question: How much will be spent on US political ads in 2024, and how is the media mix changing from previous election cycles?

Key Stat: US political ad spending will vault past $12 billion in 2024—a new high—to nearly triple the $4.25 billion spent in 2016. As campaigns spend more, they are increasingly investing in digital formats like CTV.

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Paul Verna


Ross Benes
Senior Analyst
Jasmine Enberg
Principal Analyst
Peter Newman
Director, Forecasting

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