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The political video ad boom is growing by billions

Data: Advertising Analytics and Cross Screen Media; Chart: Harry Stevens/Axios

The video ad market for politics is expected to grow by $2 billion between 2018 and 2020, a 50% year-over-year increase, according to new estimates from Cross Screen Media and Advertising Analytics.

Why it matters: In total, political ad spend is expected to approach roughly $6 billion during the 2020 cycle accounting, according to Kantar. That means that political video ads will make up roughly 4.5% of the total U.S. video ad market and 17% of its entire growth, per Cross Screen Media CEO Michael Beach.

Go deeper: Political ad spending hits new record for 2018 midterm elections