Guess who is popping the champagne cork over this week's Supreme Court ruling in McCutcheon vs. FEC, which will allow wealthy individuals to donate virtually unlimited dollars to candidates, political parties, and political action groups?
On Thursday, the radio industry newsletter Inside Radio wrote [subscription req'd] that the McCutcheon decision was "likely to boost [ad] spending" in 2014. They explain that the 2010 Citizens United decision "opened the floodgates to more dollars in politics and the result was record campaign spending on radio in 2012." They predict that the Court's ruling this week "could help spur even more spending."
In another piece this week [also subscription req'd] the newsletter trumpets:
More competitive races, combined with a greater number of outside groups that don't qualify for the lowest unit rate, have the potential to make the 2014 mid-term election cycle more ad intensive than first thought. So much so, that the analysts at Kantar Media's Campaign Media Analysis Group (CMAG), have boosted their political spending forecast. Kantar estimates radio could see $180 million in political ad spending by Election Day."
$180 million? That's chump change when it comes to what the television industry stands to make. Bloomberg reports that TV stations will make in excess of $2.5 billion --- with a "B" --- from political ad sales in 2014. And that's nothing compared to what they expect to make in 2016 during a Presidential race.
And of course, many, if not most of those ads mislead or outright lie to the very public in whose interest the broadcasters are licensed to serve.
Am I the only one who sees something wrong with this picture?
Overturning Citizens United and McCutcheon may take years, decades even, if it ever happens at all. But given that We the People have real power as the owners of the airwaves, I see some ways we can reduce at least some of the political ad spending, and perhaps take a lot of money out of politics...