$4.2 Billion Spent on Political Advertising
Adweek reports:
The economy is still shaky, but that won't stop politicians from spending a record amount this year on advertising to sway mid-term election results. And the political advertising floodgates will open right after Labor Day spewing messages -- and an inordinate amount of mud, according to analysts -- right up to Election Day on Nov. 2.
According to Borrell Associates, political ad spending will reach $4.2 billion this year, double the $2.1 billion the firm estimated was spent in 2008.
And Campaign Media Analysis Group (CMAG), a unit of WPP's Kantar, also expects a record total, with up to $2.8 billion being spent by candidates and various special interest groups, vs. the $2.6 billion it said was spent two years ago.
Political spending this year is eye opening given that general market advertisers aren't expected to return to pre-recession spending levels until at least 2013, according to PricewaterhouseCoopers.
It's also striking given that 2010 is a mid-term election, when spending usually dips below the previous presidential campaign cycle. But not this year: "It's become an endless campaign, that's really what we're seeing," said Kip Cassino, vp research at Borrell.
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