"Political ad buying in the 2024 election cycle remained concentrated among a small group of private media vendors, with the top firm pulling far ahead of its competitors - a dynamic that could influence how campaigns and super PACs deploy millions of dollars to the 2026 midterms. Collectively, the five highest-paid political vendors received about $2.1 billion from super PACs, candidate campaigns, party committees and other political groups during the 2024 cycle, according to OpenSecrets' analysis of federal campaign filings."
"Spending on media buying was not evenly distributed across the two major political parties. Republican ad spending was spread across a relatively small group of firms, with 10 vendors each receiving more than $100 million during the cycle, and one clearing the $300 million bar. Democratic spending, by contrast, was far more centralized, with Waterfront Strategies taking in more than double the second-highest-paid vendor."
"Waterfront Strategies, the advertising purchasing firm affiliated with the Democratic consulting powerhouse GMMB, received approximately $858 million in payments to place ads for Democratic-aligned super PACs and other outside groups. Media Buying & Analytics was the second-highest-paid vendor, with roughly $339 million, the vast majority of which came directly from Kamala Harris' presidential campaign. Del Ray Media, a subsidiary of GOP-aligned Smart Media Group, followed closely behind at about $336 million, making it the top Republican-aligned vendor in the cycle."
A concentrated group of private media-buying firms captured the bulk of political ad spending during the 2024 cycle, with the top five vendors receiving about $2.1 billion combined. Media buying emerged as a specialized service central to campaign operations and outside spending. Republican ad dollars were dispersed across multiple vendors, including ten firms each receiving over $100 million and one exceeding $300 million. Democratic spending was heavily centralized, with Waterfront Strategies receiving approximately $858 million. Major vendors such as Media Buying & Analytics, Del Ray Media, Strategic Media Services and Main Street Media Group also secured large shares of payments.
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