AdImpact said it raised its forecast for political ad spending in 2024 to $10.7 billion from $10.2 billion.

Total broadcast spending is estimated to be $5.4 billion, an increase from the earlier forecast of $5.1 billion.

Cable revenue is predicted to increase to $1.93 billion from $1.9 billion.

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The projection for linked TV is $1.51 billion, up from $1.35 billion.

Through June 27, year-to-date political ad expenditure in the 2024 election cycle was $3.05 billion, up from $2.54 billion in 2020, according to AdImpact.

“This election cycle is on track to be the most expensive on record, projected to have 19% growth over the 2019-20 cycle,” according to AdImpact.