Political Advertising To Increase By More Than 50% Compared To Last Midterm Election Cycle.

With $6.15 billion on the books, political advertising for the 2022 midterm elections has already eclipsed 2020 non-Presidential ad spending. Additionally, the political ad spending this year is an increase of 56.6% over the last midterm elections in 2018, according to BIA partner, AdImpact.

The group’s 2022 Political Projections Spending Report forecasts that the total political ad spend in 2022 will reach $9.7 billion, an increase of almost $700 million over the political 2020 spending including Presidential spending.

The political ad spending at for OTT television is expected to hit nearly $83.7 million in the 2022 election cycle, an increase of $9.2 million or 12.4% over the 2020 presidential election, according to BIA. Digital newspaper political advertising is forecast to deliver $172.6 million in the 2022 cycle, an increase of $4.7 million over 2020.

Magna is also forecasting a robust political advertising season. Based on extraordinarily large fund-raising year-to-date, Magna expects political ad spending to grow by 63% over the previous mid-term cycle in 2018 and generate $7.3 billion in incremental advertising revenue for media owners, with 70% of it concentrated in the second half. Local television will attract almost two-thirds of that total, as political ad sales will account for a quarter of the total.

“We still expect that will bring non-political advertising to 8% on a full year basis,” Magna Executive VP Global Market Intelligence Vincent Létang said.