Regardless of which candidate takes over the Oval Office, Citi analysts say the big winner will actually be a Silicon Valley giant with Facebook edging out Google.
“In our conversations with industry sources, an overriding theme across all conversations was that Facebook and Google will be the largest recipients of political digital ad spend over the 2016 cycle,” wrote Mark May and Jason Bazinet of Citi in a note to clients Tuesday.
“Facebook specifically has seen great momentum within their political-related ad spend in recent years, as campaigns and their media buyers have developed an appreciation for the platform’s reach, targeting capabilities, as well as its growing tech stack.”
May and Bazinet estimate that the amount of ad money spent digitally for the 2016 federal elections is going to quadruple from the 2012 elections, from $145 million to $607 million. For all elections, including the state and local level, they expect $1.07 billion will go to digital ads.
This will account for about 12% of all spending in federal elections, according to their estimates.
Google was the digital ad spend leader during the Obama-Romney race, but the analysts say that Facebook is poised to overtake the search giant.
Read more: businessinsider.com