US digital political advertising spending surpasses $ 1 billion for the first time
Digital political advertising spending in the US is likely to top $ 1 billion for the first time in the current election cycle, according to a new report.
Political campaigns and groups will spend $ 1.3 billion on online advertising in the 2019-2020 election season, with more voters expected to donate to candidates in this year’s presidential election, research firm eMarketer estimates.
Digital political ad spending this election cycle is more than three times the previous presidential cycle, largely due to the large number of Democratic primary candidates, the research firm said. Those roughly two dozen candidates have spent millions making lists and attracting small donors, eMarketer noted.
In addition to individual donations, billionaire candidates Michael Bloomberg and Tom Steyer have invested large sums in their own campaigns and “prioritized digital ads in their ad mix,” the report says. The company also noted that President Donald Trump spent generously on digital ads to get his campaign going.
“Campaigns will spend the money they have, so overall political advertising spending this year will be dictated in large part by the success of the fundraising efforts – along with the billionaires’ willingness to spend their own money,” said Nicole Perrin, chief analyst from eMarketer, in a statement.
Facebook is collecting around 59% of the money it spends on digital political ads, which equates to $ 797 million, eMarketer predicts. Google is by far in second place and accounts for 18% of the spend. Facebook continues to accept political advertising and has refused to impose as many restrictions as its competitors.
how to target political ads to specific groups, as Google did in November to combat misinformation. The social media company has also resisted calls to ban political advertisements, such as Twitter .
Spotify announced in late December that it would beEarly 2020 as the music streaming service couldn’t guarantee its accuracy.
However, television spending still holds up, accounting for 66% of the total $ 6.9 billion spent on political advertising on eMarketer projects.