In a major election year, it should be no surprise that political ad spending is up. However, the numbers from the Wells Fargo Securities LLC Media and Cable Equity Research Department, up-to-date as of April 15, are still interesting to read.
Political advertising on broadcast television also totaled $181.4 million, with 44% categorized as “Presidential” and 31% as “Ballot.” The greatest increase in spending, according to data, occurred during the second week of April, which coincided with Republican candidate Mitt Romney moving into the presumptive Republican nominee slot.
Though most spending is on TV, radio does receive coverage in the study. It selected Clear Channel, CBS Radio, Cumulus Media, Entercom and Saga as the top five radio companies when it came to political ad dollars as a percentage of market revenue.
According to the study the top five markets with the greatest political exposure “in absolute dollars” are New York, Chicago, Cleveland, Philadelphia and Detroit.
Well-known media analyst Marci Ryvicker leads the team that is following political spending for Wells Fargo in this election cycle.
So, now, if an ad for President Barack Obama goes out from CBS Chicago, headed toward New York at 50 miles per hour on a train, how much will it cost? That brain-teaser study will have to wait for another day.
Full disclosure: Wells Fargo Securities LLC does business with companies that its research covers.