Record $15.9bn in US political ad spending expected for 2024

Assessment by GroupM expects spending totals for presidential election year to be up 30% on 2020 election cycle

With little more than a month to go before the US presidential election season kicks off in Iowa, a new projection of political spending says a record $15.9bn will be spent on advertising, up more than 30% up on the 2019-2020 election cycle.

The assessment, by GroupM, one of the world's largest paid advertising agencies, suggests total political ad revenue could add a billion more to reach a total of $17.1bn, if including direct mail pitches.