Record Political Ad Spending Reported
October 8, 2008 at 5:22 AM (PT)
The economy and the overall advertising market may be under pressure, but political ad spending this year is expected to reach a new record, even though it may fall short of original estimates, reports REUTERS. After the presidential, congressional and gubernatorial races, along with ballot initiatives, rang up more than $1.7 billion in 2004, research firm TNS MEDIA INTELLIGENCE originally estimated a record $3 billion-plus would be spent this year.
EVAN TRACEY, President of the firm's political division CAMPAIGN MEDIA ANALYSIS GROUP, said it is too early to change that estimate. However, the overall tally may now come in closer to $2.5 billion. "Some things played out differently than expected," he explained.
Among the media categories that look like winners in this context are network TV, local cable TV and radio, while local TV spending is trending behind TNS' expectations.
Local cable system ad buys and radio buys seem to have benefited from broader trends. Cable ad buys can be targeted and are a less crowded political terrain traditionally, while radio leaders, led by CBS RADIO CEO DAN MASON, have pushed their medium as one that politicians should consider.