$14 Billion Presidential Ballot — An Investor's Golden Ticket: Stocks Dance With 2024's Political Theater

The 2024 presidential elections are setting the stage for an unprecedented wave of political advertising spend.

So far, projections hint at a surge from $2.5 billion in 2020 to a staggering $14 billion.

The uptick in political ad spending offers an opportunity for investors looking to buy media stocks ahead of the election. Here’s how the landscape is changing and which stocks stand to benefit.

The Political Advertising Boom: Benzinga previously reported that GAMCO Investors Chairman and CEO Mario Gabelli highlighted the growth opportunity in the media space.

“Television stations are poised to get a bump,” Gabelli said, citing the future rise in political ad budgets.

A CNN report cited AdImpact data to shed light on the aggressive advertising strategies currently at play. Presidential candidates are diversifying ad spending strategies, already $70 million ahead of 2019's pace.

Read Also: ‘Ignore National Polls’: GOP Will Lose ‘Up And Down The Ballot’ If Trump Gets Nomination

Ballot Battle

From Donald Trump’s MAGA Inc.’s national cable advertising focus to Ron DeSantis’ Never Back Down super PAC, candidates are making steep investments in early primary states, seeing them as critical launching pads for their campaigns.

Trump's and DeSantis’ respective super PACs, plus GOP hopeful Tim Scott, have already accounted for over $50 million in ad spending.

Stocks To Watch

• Sinclair Inc SBGI, as one of the largest TV broadcasting entities in the U.S., stands in a strong position to benefit from the predicted uptick in political advertising.
• Nexstar Media Group Inc NXST: Holding the title of the largest TV station operator in the U.S., its wide reach makes it a prime beneficiary of the political ad boom.
• Comcast Corporation CMCSA: With NBCUniversal under its belt, Comcast is set to gain from political ad spending too.
• Paramount Global PARAA PARA: Another major player in the broadcasting arena, Paramount's ViacomCBS will likely see tailwinds from the increasing ad budgets.

With just under 15 months until the 2024 elections, media companies stand at the cusp of a significant revenue influx. Investors keen on capitalizing on the trend would do well to keep a close eye on the above stocks.

Want to keep up with trends with expert analysis? Check out the “Raz Report” with Benzinga’s CEO Jason Raznick.

Read next: DeSantis Rips Trump Supporters, Suggests They’re ‘Listless Vessels’ Who Love ‘Kissing His Rear End’