Advertising spending in Georgia has topped $329 million since Election Day as the state braces for two contentious Senate runoffs that will determine which party controls the U.S. Senate.
The Jan. 5 Georgia runoffs will feature Sen. David PerdueDavid PerdueDraft Georgia congressional lines target McBath, shore up Bourdeaux Trump stokes GOP tensions in Georgia GOP sees Biden crises as boon for midterm recruitment MORE (R-Ga.) facing off Democratic candidate Jon Ossoff and Sen. Kelly LoefflerKelly LoefflerDraft Georgia congressional lines target McBath, shore up Bourdeaux Warnock picks up major abortion rights group's endorsement in reelection bid Trump endorses Hershel Walker for Georgia Senate seat MORE (R-Ga.) going up against Democratic candidate Rev. Raphael Warnock.
Data from the ad tracking firm Kantar/CMAG showed that $329 million in advertising has been spent or reserved in the state since Nov. 3, The Associated Press reported on Sunday. Republicans and Democrats are both sending masses of money to the state for the Senate races, in what some say could reach $500 million.
Advertising rates in Atlanta and Savannah have increased. An ad that would have cost $8,000 in the Peach State’s capital in July is now worth $18,000. Savannah’s ad rates have increased by almost 20 times, according to the AP.
Campaign finance disclosures indicate that outside Republican groups may have more money coming in.
The National Republican Senatorial Committee reported raising $75.5 million since Oct. 15. The Democratic Senatorial Campaign Committee raised $31.6 million in the same time period.
The Senate Leadership Fund, a PAC that stands with Senate Majority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellBiden signs bill to raise debt ceiling On The Money — Progressives play hard ball on Biden budget plan Schumer, McConnell headed for another collision over voting rights MORE (R-Ky.) also reported garnering $71 million since Nov. 3, while the Democratic Senate Majority PAC raised $10.2 million.
Most of the Senate Leadership Fund’s money comes from megadonors, including $15 million from the CEO of the private equity firm Blackstone, $10 million from the CEO of the hedge fund Citadel and $5 million from the former head of Wynn Resorts Steve Wynn, according to the AP.
Stacey Abrams’ organization Fair Fight reported on Thursday it had raised $34.5 million between Oct. 15 and Nov. 23.
Both of the state's Senate races were sent to the runoff after none of the candidates obtained 50 percent of the vote. These candidates are not required to publish their finances until Christmas Eve.
If either Republican is elected, the GOP will maintain a slight majority in the U.S. Senate, but if both lose the Senate will be split 50-50, with Vice President-elect Kamala HarrisKamala HarrisDemocrats' reconciliation bill breaks Biden's middle class tax pledge We have a presidential leadership crisis — and it's only going to get worse Blinken pressed to fill empty post overseeing 'Havana syndrome' MORE breaking the tie.
President-elect Joe BidenJoe BidenMcAuliffe holds slim lead over Youngkin in Fox News poll Biden signs bill to raise debt ceiling On The Money — Progressives play hard ball on Biden budget plan MORE became the first Democratic presidential candidate to win Georgia since 1992. President TrumpDonald TrumpMcCabe wins back full FBI pension after being fired under Trump Biden's Supreme Court reform study panel notes 'considerable' risks to court expansion Bennie Thompson not ruling out subpoenaing Trump MORE though has refused to concede the overall race and has spread false allegations that voter fraud led to his loss in the Peach State.