’22 Political adspend witnessed 7.5% to $8.94B lower than projection
By Felicia Nwosu
AdImpact, an ad intelligence firm, has reported that political ad spending for the U.S. 2022 elections revised down by coming in 7.5% lower than originally forecast.
AdImpact’s report revealed that the total ad spending by candidates and other advertisers across all national, state and local elections came in at $8.94 billion – 7.5% less than the $9.67 billion that AdImpact originally forecast in August 2022.
It noted that with the exception of so-called down-ballot campaigns in local markets, for all other categories such as House, Governor and Senate races came in below expectations as well.
“We have spent the last several months analyzing what occurred to draw conclusions that can inform future projections and increase our understanding. While perfect projections are unattainable, we believe that through careful analysis of the data we can guide future iterations to be more accurate,” the report said.
The biggest media beneficiaries of the revised estimates are radio and cable TV, while broadcast, CTV and digital were all taken down in total volume and share of spending.
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