Substantial Expenditure in 2024 Presidential Race Digital Advertising
The 2024 election cycle has already witnessed a significant financial commitment in digital advertising by candidates, parties, and associated groups, totaling over $619 million. This spending pertains to content about the election and related political issues on two major online platforms: Google, encompassing YouTube, Search, and third-party advertising, and Meta. These platforms collectively represent almost half of the U.S. digital ad market, though the specific share of the political ad market they command remains undetermined due to limited public data.
The recorded figures likely underestimate the real investment in political ads on Google and Meta. This is because expenditures such as ad creation, research, production, and influencer endorsements are not included. Additionally, the analysis only considers advertisers with a minimum spend of $5,000 due to the extensive advertising activity observed.
The criteria for categorizing ads as “political” differ between Google and Meta, affecting the scope of ads listed in their respective libraries. Google’s classification includes ads spotlighting elected officials, candidates, parties, and public referendums. In contrast, Meta adopts a broader definition that encompasses ads concerning candidates, parties, political figures, and social issues.
Despite these data limitations, valuable insights emerge from the analysis of digital political advertising in U.S. elections. A significant portion of the ad spending is directed towards the presidential election, with 64 percent or $248 million specifically targeting presidential candidates. Senate-related spending comprises 19 percent, or $73 million. An additional $232 million is allocated to multiple races, discussion of political issues, or remains uncategorized.
The major non-presidential ad targets include Senate races in key states like Arizona, California, Montana, and Texas. Additionally, a California ballot measure on homelessness and the 2023 Ohio abortion rights initiative feature prominently. The data below delineates the top 20 candidates and ballot measures by expenditure, encompassing spending by both campaign committees and external groups, especially relevant for presidential candidates. Notably, Vice President Kamala Harris took over President Joe Biden’s campaign committees in late July, which results in some pro-Biden spending being recorded under Harris’s totals.
On the surveyed digital platforms, Democratic-aligned entities outspent their Republican counterparts in federal races by a factor of more than three. This spending encompasses expenditures by candidates, parties, and external groups favoring one party. The Democratic spending advantage at the presidential level is in stark contrast to previous elections, where Donald Trump heavily invested in digital ads on platforms like Facebook. Some of this investment might have shifted to other platforms.
