U.S. political advertising spend will likely jump by nearly a third in 2024 over the previous U.S. presidential election year, with TV media again taking a lion's share of the dollars, according to a report by research firm Insider Intelligence.
Digital platforms, which have historically drawn only a small chunk of political ad dollars, are expected to see a spike of 156% from 2020, with Meta Platforms and Google both expected to see strong growth.
Insider Intelligence said digital media platforms, however, can also become hotbeds of misinformation during the election season, and 'deepfakes' will be a concern this year. These risks will mean that brands will have to be 'extra cautious' about exposure to such content, said Paul Verna, the vice president of content at Insider Intelligence.
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