Political Ads Ride a Heat Wave into Q3
Part of our STAQ Benchmarking Newsletter series
As 1H 2024 comes to an end, we’re seeing the typical end of quarter downward trends, as well as some new revenue opportunities emerge heading into Q3.
- Advertiser revenue is down over 15% compared to last week, but should start picking up in mid-July after the holiday.
- Political advertising is heating up (see the below chart) and we’re poised to hit the highest political ad spend month ever in October – and there’s still time to capture it!
In an effort to help guide your Q3 forecasting, we’ve looked at the top 20 advertisers (by revenue) in Q3 2023 – where they’re spending in the market, how their spend is pacing so far in 2024, and the impact that may have on their spend in Q3 this year. P&G should continue to be a top spender, while Mars, GlaxoSmithKline, and Diageo aren’t likely to maintain YoY spend.
Stay tuned for our upcoming 1H Benchmarking Report covering the top 4 trends we observed in the first half of the year, and the implications for the rest of 2024.
Here’s to a strong Q3!
Top 20 Advertisers Q3 2023
- Open display impressions significantly declined mostly impacting News publishers. Many advertisers avoid election content dominating the news cycles, and News publisher’s may be shifting their monetization strategies towards subscription revenue and away from advertising revenue to provide a better UX.
- Alternatively, in the Private market, as ad spend becomes more fragmented across CTV, social and other platforms, advertisers are placing a premium on guaranteed high quality inventory to reach their audiences.
- In 2020, Political ad spend took off in July increasing over 120% over the month, and continued to grow a significant 225% throughout Q3.
- We’ve already seen advertisers ramping up this election cycle, and Q2 2024 saw political ad spend almost 35% higher than the same period in 2020. May is the highest spend month so far, with almost 60% growth over April.
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