The 2024 election cycle is poised to be the most expensive in U.S. history, with political ad spending projected to reach a staggering $11.7 billion according to BIA’s U.S. Local Advertising Forecast. But it’s not just the sheer volume of spending that’s noteworthy – it’s the growth in Connected TV (CTV) and Over-The-Top (OTT) platforms that are allowing campaigns to reach voters in targeted and unique ways.
In the latest episode of our Leading Local Insights Podcast, we explore this significant trend with Rich Crone, Director of Political at JamLoop. We discuss the ways in which CTV and OTT are transforming political advertising, from the rise of data-driven strategies to the potential long-term impacts on the electoral landscape. Our in-depth discussion is a must-listen for anyone interested in the intersection of advertising, technology and politics. Here’s a quick summary of our conversation.
BIA projects almost $1 billion will be spent on CTV and OTT ads this election. That’s up $900 million from 2022. When Rich and I discussed this increase, he emphasizes that “quality impressions, rather than mere quantity,” are now the gold standard in political advertising.
We spoke about the importance of data in shaping modern political campaigns. CTV and OTT platforms allow for granular targeting down to the zip code level. This precision enables campaigns to tailor their messages to specific voter segments, enhancing the effectiveness of their outreach efforts.
Now, beyond just the presidential are unique ballot initiatives in states like Nebraska, where both pro-life and pro-choice measures are on the same ballot for the first time. This unprecedented situation has led to significant financial and messaging efforts from both sides. Here Rich points out that other purple states like Maryland, Arizona, Nevada, and Florida are also seeing concentrated political spending due to critical ballot measures. These states, often pivotal in determining election outcomes, are becoming hotspots for CTV and OTT advertising.
Looking ahead to the future of political campaigns, Issues like online gambling, abortion, and gun control will likely keep being big in future elections. CTV and OTT let campaigns change their ads quickly, which is important when issues and messages are always changing.
The political landscape is in a state of rapid flux, and campaign strategies are adapting just as quickly. Rich’s perspective is crucial as we collectively navigate this new era of political advertising. Enjoy the full episode here: Political Advertisers Flock to CTV/OTT: A New Era in Campaign Spending
About JamLoop:
JamLoop is the leading CTV advertising platform for political campaigns of all sizes to launch within 24 hrs. Reach your local audiences fast, whether it’s for municipal, county, state, or nationwide campaigns. Advanced data segmentation gives you immediate access to targeting key voters across 1200+ segments, 300+ premium CTV publishers, at a zip code level – combined with real-time tracking and optimization. Learn more at www.jamloop.com.
