Political ad spending nears $1 billion in just one week
In just one week, nearly $994 million was spent on political ads in the US. This amount already represents a tenth of the cost of more than $10 billion campaign ads since the start of 2023.
9:03 AM EST, November 4, 2024
Data from the American company AdImpact, which tracks advertisements, indicates that as election day approaches, nearly a billion dollars was spent on political ads just last week, reports CNBC.
The exact amount from the last seven days is $994 million, and the presidential race consumed the largest portion. Over $272 million was spent on ads for the Kamala Harris and Donald Trump campaigns. The remaining funds supported lower-level elections, including gubernatorial and congressional races nationwide.
As CNBC highlights, this is not the end of expenditures, as more than $300 million has already been reserved for future ad time between Sunday and Tuesday.
According to AdImpact, the advertising budget of Republican candidate Donald Trump slightly exceeded that of Vice President Kamala Harris's campaign from October 27 to November 2, ranging from $43.4 million for Trump to $40.7 million for Harris.
Numerous super PACs, often associated with billionaires, support both campaigns. These are election committees that back the candidates but are formally independent of them. As CNBC notes, the Democratic super PACs helped their party slightly surpass Republican spending during this period in the presidential race.
