Largest PAC Advertising Blitz In US History: Which 2024 Presidential Candidate, Companies Could Get Boost?
Portfolio Pulse from Chris Katje
Democratic super PAC Future Forward is set to spend a record $250 million on advertising to support President Joe Biden in the 2024 presidential election. The funds will be allocated to television and digital/streaming ads in seven key swing states. This spending is part of an anticipated $10.2 billion total ad spend for the 2024 election cycle. Companies that could benefit from this increased ad spending include national television companies like Paramount Global, Fox Corp, Comcast Corp, and Walt Disney Co, as well as local media station owners such as Gray Television Inc, NexStar Media Group Inc, Tegna Inc, and E.W. Scripps Company. Digital platforms like YouTube, Roku, Hulu, and Vevo are also expected to receive significant ad buys.
January 30, 2024 | 8:05 pm
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POSITIVE IMPACT
Comcast Corp's NBC could see a surge in ad revenue from the planned political advertising for the 2024 election.
As the owner of NBC, Comcast Corp is expected to gain from the largest single purchase by a super PAC in American history.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Walt Disney Co could witness increased ad revenue from the extensive advertising campaign for the 2024 presidential election.
Owning ABC, Walt Disney Co is likely to benefit from the record political ad spending targeting swing states.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Fox Corp could experience a rise in ad revenue due to the significant advertising budget allocated for the 2024 presidential election.
Owning FOX, Fox Corp is well-positioned to capitalize on the advertising blitz for the upcoming presidential election.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Alphabet Inc's YouTube has reserved ads worth around $35 million from Future Forward, indicating potential revenue growth.
With a significant portion of digital ad spending reserved for YouTube, Alphabet Inc is expected to benefit from the election-related advertising.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Gray Television Inc could benefit from increased local ad spending due to the 2024 election advertising campaigns.
Gray Television Inc, with its portfolio of local media stations, stands to gain from the heightened ad spending during the election.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
NexStar Media Group Inc is poised to see an uptick in ad revenue from the political ad spending for the 2024 election.
As a company owning local media stations, NexStar Media Group Inc is expected to profit from the increased ad spending.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Paramount Global could see increased ad revenue from the $250 million advertising spend by Future Forward PAC for the 2024 election.
As a national television company owning CBS, Paramount Global is likely to benefit from the increased ad spending for the 2024 presidential election.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Roku Inc is named as a beneficiary of digital ad buys from Future Forward, which could positively impact its revenue.
Roku Inc is expected to gain from the digital ad spending by Future Forward, as it is one of the platforms where ads will be placed.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
E.W. Scripps Company could see a rise in ad revenue from the political advertising for the 2024 election.
E.W. Scripps Company, with its local media stations, is likely to benefit from the surge in political ad spending.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Tegna Inc could experience a boost in ad revenue due to the large-scale advertising efforts for the 2024 presidential election.
Tegna Inc's ownership of local media stations could translate into significant ad revenue from the upcoming election.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70