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State of the Screens

Breaking Down the $9B Political Video Ad Market

By October 14, 2021No Comments

Big news #1: We project the political video ad market will reach $8.8B during the 2021-22 election cycle.

Key details for political video ad spending according to AdImpact/Cross Screen Media:
1) 2022 vs. 2018 – ↑ $4.8B (↑ 125%)
2) 2022 vs. 2020 – ↓ $697M (↓ 7%)
3)6% of the entire U.S. video ad market
4)18% of all video ad growth is from politics

Midterm cycle political video ad spending (% growth):
1) 
2014 – $1.7B
2) 
2018 – $3.9B (↑ 142%)

3) 2022P – $8.8B (↑ 125%)

Presidential cycle political video ad spending (% growth):
1) 
2016 – $2.5B
2) 
2020 – $9.5B (↑ 283%)

31A.1-2022B

Big news #2: We are breaking out Connected-TV (CTV) for the first time in 2022.

Share of political video ad spend by screen type:
1) Local broadcast TV – 51%
2) Connected-TV (CTV) – 17%
3) Local cable TV – 15%
4) Mobile/desktop – 13%
5) Social video – 4%

31A.1-2022I

Digital share (including CTV) of political video ad spend:
1) 2014 – 6%
2) 2016 – 12%
3) 2018 – 19%
4) 2020 – 27%
5) 2022P – 34%

31A.1-2022C

Why this matters: We predict CTV has now become the #2 screen type behind local broadcast TV.

Big question #1: Why are political buyers adopting CTV so rapidly?

Key reasons for political adoption of CTV:
1) Addressability and measurement
2) High impact creative
3) Unique reach from voters with little/no linear TV consumption

Wow: The political video ad market is growing (CAGR) at a rate of 23% compared to 10% for the general video ad market!

Big question #2: Does this share differ by election type?

Quick answer: Yes.  U.S. Senate elections will spend the largest share of their video ad budget on linear TV (70%) while down ballot races will spend the lowest (61%).

31A.1-2022D

Local broadcast TV spend (% growth):
1) 
2014 – $1.3B
2) 
2016 – $1.7B (↑ 33%)
3) 2018 – $2.5B (↑ 46%)
4) 2020 – $5.3B (↑ 110%)
5) 2022P – $4.5B (↓ 15%)

31A.1-2022E

Local cable TV spend (% growth):
1) 
2014 – $320M
2) 
2016 – $450M (↑ 41%)
3) 2018 – $660M (↑ 47%)
4) 2020 – $1.6B (↑ 142%)
5) 2022P – $1.3B (↓ 16%)

31A.1-2022F

Digital video (including CTV) spend (% growth):

1) 2014 – $100M
2) 
2016 – $300M (↑ 200%)
3) 2018 – $740M (↑ 147%)
4) 2020 – $2.6B (↑ 251%)
5) 2022P – $3.0B ( 14%)

31A.1-2022G

Big question #3: Do you want to sell more political ads in 2022?  If yes, then download our FREE 12-page report, and let’s get started!

Michael Beach

Michael Beach

Michael Beach is the Chief Executive Officer of Cross Screen Media, a media analytics and software company that enables marketers to plan, activate, and measure CTV and linear TV at the local level. Michael is also the founder and editor of State of the Screens, a weekly newsletter focused on video advertising that is a must-read for thought leaders in the advertising industry. He has appeared in such publications as PBS Frontline, The Wall Street Journal, The New York Times, Axios, CNBC and Bloomberg, and on NPR’s Planet Money podcast.