rssPolitical Ad Spending Defies Bad Economy
Monday, September 13, 2010 at 5:29 pm
- 16 Comments
Tell your children to get a degree in advertising — political advertising, to be exact. Despite the economic downturn, and despite the fact that we’re not in a presidential election cycle, Adweek is reporting that spending on political advertising sales are predicted to break records:
According to Borrell Associates, political ad spending will reach $4.2 billion this year, double the $2.1 billion the firm estimated was spent in 2008.
And Campaign Media Analysis Group (CMAG), a unit of WPP’s Kantar, also expects a record total, with up to $2.8 billion being spent by candidates and various special interest groups, vs. the $2.6 billion it said was spent two years ago.
Political spending this year is eye opening given that general market advertisers aren’t expected to return to pre-recession spending levels until at least 2013, according to PricewaterhouseCoopers.
The two estimates provided seem pretty divergent, but both prove the same point. Political advertising, even more so than federal government jobs, appear immune to the economic downturn. It begs an interesting question as to how effective election spending is as a means of stimulating the economy compared to, say, state aid or infrastructure spending? My guess is it ranks a lot lower in terms of bang for your buck.
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