Record spending on political ads nears $1 billion in a week
In just one week, nearly $994 million was spent in the U.S. on political ads. This amount accounts for nearly one-tenth of the more than $10 billion used for campaign ads since the start of 2023.
According to CNBC, data from the American company AdImpact, which tracks advertisements, shows that as election day approaches, nearly a billion dollars was spent on political ads last week.
The exact amount spent in the last seven days was $994 million, with the presidential race consuming the largest sum. Over $272 million was directed towards ads for the Kamala Harris and Donald Trump campaigns. The remaining funds covered lower-level elections, including gubernatorial and congressional races across the country.
CNBC highlights that this is not the end of the spending spree, as over $300 million has already been reserved for future ad time between Sunday and Tuesday.
From October 27 to November 2, the advertising campaign for Republican candidate Donald Trump slightly exceeded that of Vice President Kamala Harris, with spending ranging from $43.4 million to $40.7 million, according to calculations by AdImpact.
Both campaigns receive support from various Super PACs and election committees that support candidates but are formally independent of them. These entities are often associated with billionaires. CNBC notes that the Democratic Super PACs helped the party narrowly surpass Republican spending during this period in the presidential race.
