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While advertising dollars increasingly shift toward streaming and digital platforms, the political ad war is still being fought over the free airwaves.
Broadcast television companies are set to capture the greatest portion of political ad spend ahead of the midterm elections, according to advertising intelligence company AdImpact.
The 2025-26 election cycle is forecast to be the most expensive on record, with a predicted $11.6 billion in total spending. That’s higher than the $11.2 billion spent on advertising during the 2024 presidential election cycle and the $8.9 billion spent during the 2022 midterms.
An estimated $5.6 billion of advertising spend ahead of the midterms, or 48%, is expected to go to broadcast companies, AdImpact found.
“It’s still a local game,” said StoneX Equity Research Analyst Daniel Kurnos in an interview. “Yes, there are national elections, but you have to win…
