How Political CTV Dollars Grew in 2024
Political Connected TV Ads in the US will be five times higher than the 2020 presidential election cycle, reaching about $1.56 billion in media. In the 2020, CTV ads were roughly 2.7% of all political spend. In 2024 the expected total is about 12.6%.1
BIA is forecasting up to $2.6 billion in CTV advertising this election cycle. 2
The massive growth during the 2024 campaign period compared to 2020 is not surprising. 2023 was the tipping point when more individuals were accessing their video content via streaming services and CTV, as opposed to linear/traditional TV. The political dollars have followed the audience’s change in content consumption.
About 7% of all local advertising during the last presidential election cycle was political ads. This year, it’s expected to be in upwards of 21%. Political campaigns tend to focus aggressively on local advertising buys with local broadcasters, representing a significant portion of this year’s increase – but the rise in CTV this cycle cannot be understated. Additionally, local station buys can also include their digital properties and streaming services.
“There’s no going back, because this is just the reality of the modern world,” Metz says. “If you look at how consumers connect, how we have to reach them, and how you want to engage them, they’re connecting via digital streams, and so you’ve got to embrace those advertising opportunities”
Kelly Metz, OMD Chief Investment Officer 3
Source: 1Emarketer; 2 BIA Forecast Axios; 3 The Current