Political Spending on Television Media Projected to Reach $5.2 billion
AdWeek reports that Wells Fargo analyst Marci Ryvicker is projecting $5.2 billion in spending on local, network and cable television ads for the upcoming election.
According to Ryvicker, Cleveland ($35.2 million), Washington, D.C. ($32.6 million), Tampa, Fla. ($29 million), Las Vegas ($28 million) and Orlando, Fla. ($23.2 million) have led the spending race so far, but D.C. has reported an increase of more than $20 million from July 1 to August 26.
While this is good for the stations, ad inventories will be getting tight and buyers may see an increase in rates.
It is interesting to note that spending on the internet accounts for only 6% of the total estimate.
For more details, see the article in AdWeek