$8.4 billion to be spent on politics this fall

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This is according to a forecast by Kantar CMAG for the upcoming midterm elections. During this cycle, nearly 40 gubernatorial races are at stake, 35 seats in the US Senate and all 435 seats in the House. Add to that all the local elections and the money will go all over the place.

Forbes interviewed Kantar CMAG VP Steve Passwaiter who said Broadcast TV will again get the bulk of the money in this election with more than $4 billion of the $8.4 billion on the table. “The growth story in 2022 really comes with the emergence of ad-supported streaming platforms. Projections for this form of media are likely to be close to or equal to cable television totals this year. There is a lot of belief in this platform by political buyers.It has targeting capabilities and growing viewership that helps buyers make up for lost viewership available on linear TV.It also has a generally different audience of younger viewers.

Passwaiter went on to say that social media platforms have deteriorated in recent quarters but still remain a big slice of the pie in campaigns. “Despite the grumbling, they have become a permanent part of the advertising mix even though some of these social media players no longer have all the utility they once had for campaigns.”

Read all Forbes interview with Passwaiter HERE.

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