2020 election projected to cost $14B -- campaigns spent $8B on ads alone

2020 election costs will be twice as expensive as 2016

The 2020 election cycle has smashed all records for costs.

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Total advertising spending over the two-year campaign cycle has reached a record-shattering $8.395 billion, according to figures provided by Advertising Analytics, a leading national ad tracking firm.

The total overall cost of the 2020 election, which includes spending on staff salaries, events, advertising and more, will reach $14 billion, according to projections from the Center for Responsive Politics, which tracks campaign finance data.

Data analysts there had to revise their initial $11 billion estimate after a wave of political donations over the Supreme Court battle poured in just weeks before the election.

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The 2020 election will be the most expensive election in history and twice as expensive as the 2016 election cycle, the center reports.

Just in the ad wars alone, $3 billion was spent on the presidential campaign for the relentless commercials that blanketed the airwaves, Advertising Analytics found.

In the final week of the election, Biden continued his ad dominance over Trump since August and outspent the president $27.6 million to $11.1 million to run commercials on TV.

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Biden's top two markets were Phoenix and Philadelphia, which seems to have paid off, as Biden held a small lead in Arizona and Pennsylvania. Fox News and The Associated Press have called Arizona for Biden.

Trump's top two markets were Phoenix and Charlotte, N.C. Trump remained in the lead in North Carolina, though the state has not yet been called.

Aside from the presidential contest, the most expensive ad-wars race was the Senate contest in North Carolina between Republican Sen. Thom Tillis and Democrat Cal Cunningham, with $264 million spent.

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The state with the most ad spending was California, the nation's most populous, at $653 million.