The advertising dollars spent on U.S. elections and advocacy issues will grow to roughly $16 billion next year, up 31.2% compared to the last presidential election in 2020, according to a new forecast.
Why it matters: The U.S. political ad market has gotten so big that next year it’s expected to become the 10th largest ad market in the world, surpassing all of Australia.
Driving the news: New projections from GroupM, one of the world's largest paid advertising agencies, suggest that political ad revenue will reach $15.9 billion in 2024, or $17.1 billion including direct mail.
