The most recent election cycle just ended, but analysts are already busy compiling total expenditures and studying trends. In this way, they can predict what media providers might expect for the next big cycle in 2012 which will include a presidential election. PQ Media has just released information new information on this topic.
According to the report, candidates and other interested groups spent $4.55 billion on political advertising in 2010. The actual media spend was $3.16 billion, a figure which comprised 69.5% of all media expenditures. And marketing media expenditures reached $1.39 billion. Overall advertising expenditures jumped 10.5% since 2008 and marketing expenditures rose 2.3%.
Using its own measurement system, PQ Media defines advertising as broadcast and cable TV, radio, newspapers, out-of-home, internet, mobile and magazines. Marketing includes direct mail, telemarketing, public relations, event marketing, promotions and marketing research.
Analysts attribute higher spending to a number of factors. Several wealthy individuals used their personal fortunes to pay for their campaigns. And corporations were able to contribute directly to candidates and PACs which used the money to pay for advertising on specific issues. At the same time voter discontent was high as a result of unemployment and the recession. Candidates sensed an opportunity to reach people who may not have voted in some time.
Patrick Quinn, President & CEO of PQ Media believes that upcoming elections will be “contentious, lucrative and game-changing .. for multiple political stakeholders.” As a result, Quinn expects campaign spending to exceed $5.6 billion in 2012.[Source: Political Campaign Media Spending. PQMedia.com. 15 Dec. 2010. Web. 28 Dec. 2010]