Even More Money
You may not want to hear this, and you probably won’t be surprised by it…but leading analysts now predict a “massive spend”—their phrase—of advertising leading up to this year’s presidential election.
One analyst has it as high as $12.3 billion, in fact…but all agree it will be around 15 percent more than the last presidential year in 2020…and if you thought the 2022 election was bad, it will be 24 percent worse this time.
One analyst notes the Biden campaign’s recent $30 million ad spend in key states—in part to offset falling popularity, but also in part due to a strategy relying less on in-person appearances and more on paid messaging. It is said that campaigns typically spend 60 cents of every dollar raised on advertising…but the Biden team is poised to up that, to 65 to 70 cents per dollar raised.
And as if that all was not enough, outside groups have pledged to spent more than $1 billion in ad support.
The law requires over-the-air broadcast radio and TV stations to charge candidates the lowest rate possible in the weeks leading up to the election…so their money will go farther than it will during the summer when rates are not controlled. And again, don’t feel sorry for broadcast outlets, because while the rates are discounted, it’s still cash coming in during a soft economy.
Money talks…and in this case, it speaks loudly.
