Obama Factor: Campaign Dominated Online Political Ad Spending

imageThe fundraising juggernaut that was President-elect Barack Obama’s campaign also shook up the online political ad business, as the candidate accounted for roughly half of all the internet ad dollars spent on politics this year, ClickZ reports. While John McCain’s campaign hasn’t broken out its ad spending yet, it’s safe to say that the other half was comprised of the dozens of other candidates and issue ads that were zeroing in on this week’s election.
While the Obama campaign spent about $4 million to run the 30-minute infomercial last week on CBS (NYSE: CBS), NBC, Fox and Univision, it’s worth noting that Obama spent nearly $8 million through October for ads within Google (NSDQ: GOOG), Yahoo (NSDQ: YHOO) and Facebook, as well as for in-game ads and on general news sites. In terms of how the money was divided, Google won that race, with Obama for America devoting $3.5 million to the search giant. That’s a significant amount, especially if Borrell Associates’ forecast is correct that online political ad spending will hit $17.7 million this year. Maybe that’s another reason why Google CEO Eric Schmidt is an Obama supporter.
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