The 2024 election cycle is now in history books, and more for just who won or lost. The ad tracking firm AdImpact says its preliminary tally shows there was a record $10.86 billion in political ad spending, making it the most expensive election cycle of all time. It compares to $8.47 billion that was spent during the 2020 cycle.
The biggest race of all was for the White House. The Presidential race cumulatively saw $3.06 billion in total spending according to AdImpact. Democrats outspent Republicans, the same as in 2020 and 2016, although the election’s results demonstrated that dollars don’t necessarily equate with votes.
“The pace of spending in the Presidential general election was largely defined by Biden’s historic decision to exit the race,” the AdImpact report says. “Between July 22nd and Election Day, the Presidential election saw $2.3 billion in political spending. Over that time, Democrats held a nearly $460 million spending advantage.”
Spanish-language media was one of the winners during the 2024 cycle, with Hispanic voters up for grabs in a way not seen in the past. AdImpact says in the final 90 days of the election, Democrats spent $35.3 million on Spanish radio and TV promoting Vice President Kamala Harris, compared to $6.4 million spent by Republicans to support former President Donald Trump.
The fight for control of the Senate resulted in $2.6 billion in total ad spending. The most expensive race was in Ohio, where $477 million was spent on ads, making it the most expensive Senate race in U.S. history. Sen. Sherrod Brown (D-OH) lost his re-election bid to Republican Bernie Moreno, who had $248.7 million in ad support, which was $20 million more than the incumbent.
Pennsylvania had the second-largest total with $341 million in total spending in the still-unresolved race between Sen. Bob Casey (D-PA) and Republican Dave McCormick. It was the fourth most expensive Senate election ever. The race may be heading for a recount, but AdImpact says McCormick and his allies were clear winners in the ad race. They spent $171.3 million vs. $169.4 million spent by Casey’s campaign and aligned groups.
The third-biggest Senate race was in Montana, where $237 million was spent, good for seventh place on the list of all-time most expensive non-presidential elections. Sen. Jon Tester (D-MT) and aligned groups spent $128.9 million in his losing bid for a new term. GOP winner Tim Sheehy and outside groups spent $108 million.
Other top Senate races were in Michigan ($196 million), Texas ($193.4 million), and Wisconsin ($171 million). The analysis by AdImpact shows nearly two-thirds (63%) of all Senate general ad spending came from issue groups in 2024.
AdImpact reports U.S. House races totaled $1.68 billion in total ad spending during the 2024 cycle. Democrats spent $705.2 million, while Republicans spent $521.2 million. While some election races have yet to be called, the GOP won enough seats to retain the majority despite spending considerably less on advertising.
The analysis of the messages used in the ads shows abortion was the dominant issue among Democratic candidates, who also frequently mentioned healthcare, candidate character, and taxation. Republicans hammered away at issues including crime, immigration, and inflation, messages that turned out to resonate more with voters.
The preliminary final tally also shows that down-ballot races and issue spending had $2.9 billion in total spending, while gubernatorial races got $521 million worth of ad support.
How politicians spent their money also continued to shift this year. AdImpact says for the first time in decades, broadcast television pocketed less than half of the total spent. It calculates that TV had a 49.6% share of political ad buys. While lower than in the past, the increase in total spending softened the block, and broadcast TV ended up with $5.33 billion in total political ad dollars. Cable TV’s share also slid back, while CTV spending increased 8% compared to the 2022 election despite becoming the second most expensive media type.
Between July 22 and Election Day, AdImpact says digital spending totaled about $420 million, making up 18% of total Presidential spending. It says Google and Facebook received the largest shares.
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