The price of (un)regulation: Tracing the flow of political advertising budgets and voter targeting across online platforms in Romanian elections

Abstract In the ongoing 2024 elections, European democracies are facing multiple challenges, including declining voter turnout, extremist factions gaining electoral ground, and various risks posed by technology platforms. This article explores the characteristics of online political advertising in Romania, focusing on the advertising budgets allocated by mainstream and extremist parties and their specific targeting strategies based on voter segmentation. The study examines multiple electoral cycles in Romania, employing a longitudinal approach to analyze the online political advertising of the mainstream and extremist Romanian parties with a significant electoral impact. Utilizing data from the Meta Ad Library Reports, the study aims to explore the scale of online political advertising expenditure, and discuss voter segmentation and its potential impact on voter mobilization. Through this lens, the paper highlights the significant role of political advertising leveraged by online platforms in modern politics and the consequent challenges to the integrity of the electoral processes. It discusses gaps in existing national and EU regulations, and argues for regulatory measures to enhance transparency and accountability in political advertising.