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2024 Political Ad Spend Could Reach Record $12 Billion

“I used to joke that brands spent more money marketing hamburgers than politicians spent campaigning to run a nation, but that’s no longer the case.”

Maddy Troy

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A photo of the American flag and a roll of money

During Stagwell’s “Political Media Days” summit, the omnichannel media agency Assembly shared its bold forecast for the 2024 election cycle ad market, predicting an unprecedented surge to reach $12 billion.

Assembly made history in 2020 with the largest single media buy ever during the Mike Bloomberg for President Campaign. Looking ahead to the 2024 cycle, the agency anticipates political ad purchases to spread across a broader range of online and offline channels, as the political landscape undergoes a significant transformation due to the digital marketing revolution.

The main objective of Stagwell’s summit was to inform brands and local and national candidates about the diverse political media opportunities they should consider for the upcoming election cycle.

“Fully integrated campaigns remain elusive for many political players in this fragmented media landscape,” Assembly Director of Political Strategy Tyler Goldberg said.

Presenters from media entities such as iHeartMedia, Urban One, Nexstar, TelevisaUnivision, Axios, and Politico participated in the event. Key topics of discussion included the necessity of reaching often overlooked audiences, building trust with a skeptical public, and effectively utilizing multiple mediums to cater to consumers with diverse spending habits, information sources, and personal beliefs.

“I used to joke that brands spent more money marketing hamburgers than politicians spent campaigning to run a nation, but that’s no longer the case,” Stagwell Chairman and CEO Mark Penn says.

One crucial takeaway from the summit emphasized the continued importance of traditional broadcast media, which remains a primary and scalable option with reliable data. The summit also stressed the significance of creative targeting to reach underserved audiences.

To appeal to swing voters, presenters recommended utilizing more centrist and local news media. Additionally, it was advised to start early and focus on voter education rather than relying solely on “Get Out The Vote” efforts at the end of the election cycle.

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Media Business

SPECai Welcomes Adams Radio Group and Southern Stoen Communications as New Customers

The two radio companies join other broadcasters like Connoisseur Media, Summit Media, and Magnum Communications at adopting the product.

Barrett News Media

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A photo of the SpecAI logo

SPECai, the artificial intelligence product created in conjunction with ENCO Systems, Benztown, and Compass Media Networks, has inked a deal with Adams Radio Group and Southern Stone Communications to use the technology.

Southern Stone Communications will utilize the product in Jackson, TN; Valdosta, GA; Daytona Beach, FL; and Huntsville, AL. Meanwhile, Adams Radio Group will utilize it at stations in Tallahassee, FL; Las Cruces, NM; Valparaiso, IN; and Ft. Wayne, IN.

“SPECai is absolutely transformative. I was amazed by the blend of technology and creativity. Within minutes, our sellers are able to create top-notch spec spots,” said Adams Radio Group Northern Indiana Vice President and Market Manager Jennifer Figg. “The interface is easy and intuitive, saving us time and making the production process more efficient. Each spot is crafted with a professional touch. We only just started and have already closed new business.”

“I was pleasantly surprised at how quickly our sellers could create a great sounding commercial, with no help from production, and use it to help close new business,” added Southern Stone Communications Vice President of Sales and General Manager Chip Thomas. “I would highly recommend this product for any sales team looking for creative ways to close more business.”

The two radio companies join other broadcasters like Connoisseur Media, Summit Media, and Magnum Communications in adopting the product.

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Media Business

Women Prefer AM/FM Radio to Everything But Their Phone, New Study Shows

Traditional radio eclipsed Amazon (43%), Netflix (40%), Apple (26%), Spotify (26%) and TikTok (24%) among other strong digital audio and video brands.

Barrett News Media

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A photo of an on-air light

As more and more listeners spend time with digital audio, the role of AM/FM Radio is questioned. However, according to a new study, the medium is still a strong one, especially with women.

New metrics released by Westwood One’s Audio Active Group shows that a study of 1001 women between 15-64 shows that 46% said they “love” their favorite AM/FM Radio station. While 51% said they “love” their mobile phone as the top vote-getter, terrestrial radio came in second.

Traditional radio eclipsed Amazon (43%), Netflix (40%), Apple (26%), Spotify (26%) and TikTok (24%) among other strong digital audio and video brands. Radio, however, dropped to 22% when respondents were asked about their love of the medium in general and not their favorite specific stations.

While the study shows women “love” radio, they admitted in their responses that the medium doesn’t often mesh with the busy lifestyle they currently live between family, relationships, and living a healthy lifestyle.

Also, nearly 60% of women agreed that “Today’s music is not as good as it was years ago.” Another factor of decreased listening is that women find the number of commercials unbearable and believe many ads are “annoying.”

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Media Business

Nielsen Debuts The Media Distributor Gauge Showing TV Audience By Company

In the first report of the new gauge, 14 companies saw a 1.0% share or great of the total TV usage.

Barrett News Media

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Nielsen has unveiled The Media Distributor Gauge, which will provide information on television audience size on a per-company basis. 

The new measurement category became a necessity as streaming television continues to grow with many broadcast and cable networks utilizing the new technology as an alternate distribution method.

Coinciding with The Gauge, which measures the method by which viewers watch television, The Media Distributor Gauge is the insight into measuring an expanding and changing field.

“With more programs available across platforms, it’s vital for creators, advertisers, and the industry at large to understand what and where audiences are watching,” said Karthik Rao, CEO of Nielsen. “The Media Distributor Gauge is a perfect complement to The Gauge and serves as the first convergent TV comparison of its kind. Together, these reports paint the most complete picture of TV viewing today, which is critical as we head into the Upfront.”

In the first report of the new gauge, 14 companies saw a 1.0% share or great of the total TV usage.

The Walt Disney Company accounted for 11.5% of TV, as 42% of that figure came from Disney+ and Hulu.

YouTube (9.6%), NBCUniversal (8.9%), Paramount (8.8%), Warner Bros. Discovery (8.1%), Netflix (7.6%), and FOX (6.1%) all finished between 5-10% of the total viewing share.

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