Tonight's final presidential debate brings into focus this infographic on the the division of cost of the US election. Campaigning has always been a huge expenditure for any President of the United States of America, however this year brings in a 7 percent increase from the last election with $5.8 billion in money spent on President Obama and Mitt Romney's campaigns.
President Obama has an estimated $432 million in raised funds and has spent 75 percent of it already. Mitt Romney has an estimated $279 million in raised funds and has almost exhausted the entire amount to date. From the majority of money going straight to media endeavors, the cash flow seems to be dwindling before their eyes.
Why This Trend Is Growing
- Increasing Campaign Expenditure
- The US election campaigns are becoming increasingly expensive, creating opportunities for innovative fundraising and cost management solutions.
- Growing Influence of Media in Campaigns
- More money is being directed towards media endeavors in election campaigns, opening up possibilities for disruptive innovations in media advertising and messaging.
- Rising Election Costs
- The cost of the US election has seen a 7 percent increase compared to the previous election, indicating potential opportunities for cost-saving measures and efficiency improvements.
Industries Being Reshaped
- Political Fundraising
- The increasing cost of campaigns presents opportunities for businesses that specialize in innovative political fundraising strategies and platforms.
- Media Advertising
- The growing influence of media in campaigns creates potential for disruptive innovations in media advertising technologies and strategies.
- Political Consulting
- The rising election costs indicate a need for disruptive innovations in political consulting, such as cost-saving measures and more efficient campaign management strategies.
