Contributor: Leo Kivijarv, Ph.D., Executive Vice President & Director of Research of PQ Media
In August 2019, PQ Media projected that political media buying would reach $8.33 billion in 2020. This projection was made before Michael Bloomberg became a Democratic presidential candidate and spent over $500 million in his failed attempt to win the nomination. Additionally, since the original projection was made, the COVID-19 pandemic hit, requiring politicians to revise their media buying strategies because planned rallies and fundraising events had to be cancelled.
Since the last blog post, a few items have happened which will impact the 2020 presidential and other elections.