Friday, July 19, 2024

Political TV Advertising in the 2024 Election Undergoes ‘Seismic Shift,’ LG Ad Solutions Reports

Study Shows Streaming TV Environments Essential for Political Campaigns

LG Ad Solutions Study Reveals Streaming TV is Key for Political Marketers in 2022 Election Cycle

In a groundbreaking new study, LG Ad Solutions has found that regardless of political affiliation, streaming television environments are a vital channel for political marketers to reach voters in the upcoming election cycle. The study, which surveyed over 900 U.S. CTV users affiliated with a political party, revealed that a majority of Republicans, Democrats, and Independents prefer watching streaming TV over traditional broadcast, cable, and satellite options.

With Nielsen reporting that streaming has surpassed linear TV in popularity among U.S. households, the shift towards streaming as a primary media channel has been anticipated for some time. LG Ad Solutions predicts that this year’s election will see a historic shift in advertising strategies, with CTV playing a central role in political advertising expenditures.

According to forecasts by AdImpact, CTV ad spend is expected to surge by 24% compared to the 2022 midterms, reaching $1.34 billion. This surpasses spending on major digital platforms like Google and Facebook, and even doubles the projected spending on network cable, satellite, and radio combined.

Keith Norman, VP Sales, Political Practice at LG Ad Solutions, highlighted the significance of the study’s findings, stating that “U.S. voters are streaming more, and are more open to receiving political advertising on CTV.” The research also revealed that viewers across all political affiliations are watching less linear TV, with a majority preferring free, ad-supported streaming television (FAST) over ad-free subscription options.

The study further found that a vast majority of CTV viewers multitask while streaming, providing extended opportunities for engagement on mobile and desktop devices. With viewers cycling through streaming apps and changing their viewing habits, a direct-to-glass strategy is essential for political marketers to ensure they reach their target audiences effectively.

LG Ad Solutions’ report, titled “The Big Shift: Political Edition,” sheds light on the evolving landscape of political advertising and the importance of CTV in reaching voters. As streaming continues to grow in popularity, political marketers must adapt their strategies to prioritize CTV for comprehensive reach and engagement.

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