The Watauga Group is closely monitoring the political advertising spend for 2024 to better aid our clients in navigating the year with utmost efficiency and effectiveness. Are you staying informed? Here is a brief update to our previous post: Navigating the 2024 Election Cycle: Insights and Strategies for Success.
As the Iowa caucuses and New Hampshire primary draw near, signaling the start of the 2024 presidential election, the landscape of projected advertising spend becomes increasingly prominent. A significant precursor to this is the already substantial political ad expenditure, reaching $154 million by late 2023, as disclosed by the ad intelligence tracking firm Vivvix CMAG. Over 127,000 presidential campaign ads have been broadcast, predominantly propelled by five PACs, with a focus on Republican interests.
The Iowa Republican Caucus, slated for January 15th, followed closely on January 23rd by the New Hampshire primary will be a pivotal moment, potentially determining the fate of numerous candidates. With the 2023 campaign spend setting an early precedent, Vivvix projects more than $11 billion in ad spending for the overall 2024 general election. As the political landscape continues to develop, these initial contests foreshadow the intensity and importance of the advertising campaigns that will continue to be launched by candidates in the upcoming presidential race.
In light of the projected surge in political ad spending for 2024 and as the primary season gains momentum, it is paramount for advertisers in the outdoor recreation, attraction, and destination sectors to strategically implement early planning if they have not done so already. Flexibility will play a pivotal role in securing sought-after advertising inventory. Effectively maneuvering through this dynamic landscape demands the formulation of a well-crafted media strategy and implementation plan. With the right approach, advertisers can navigate the continuously evolving realm of political advertising. Stay tuned for additional updates throughout the year on the evolving political advertising landscape.