Political Ad Spending Hits $6.1 Billion as Broadcast TV Leads the 2026 Midterm Market

Political advertising spending for the 2026 election cycle has surpassed $6.1 billion, marking a $1.3 billion increase from AdImpact’s July 16 estimate of $4.8 billion. The political advertising tracker now projects that total spending will reach $11.6 billion by the end of the cycle, exceeding the $8.9 billion spent during the 2022 midterms and the $11.2 billion recorded in the 2024 presidential election year. (thedesk.net)

Broadcast television remains the largest beneficiary. AdImpact estimated that candidates, campaigns and outside groups had placed $3.12 billion on broadcast stations as of August 26. Connected television and streaming ranked second with $1.14 billion, followed by digital platforms at $937 million and cable television at $770 million. Radio received $124 million, while satellite advertising generated $51 million.

Gray Television led individual station groups with $434 million in political advertising, a result The Desk attributed largely to Gray’s station presence in battleground states. Nexstar Media Group followed with $416 million. Fox received $363 million, TEGNA generated $350 million and Sinclair, Inc. captured $319 million. TEGNA now operates as a Nexstar subsidiary. Each of those four leading station owners individually received more political advertising revenue than the entire AM/FM radio sector.

The spending split also shows Republican-supported candidates and issues ahead of Democratic buyers. Republican-aligned spending totaled $2.69 billion, compared with $2.35 billion for Democratic spending. Independent expenditures accounted for another $1.11 billion, according to AdImpact.

AdImpact expects broadcast television to finish the cycle with $5.6 billion, representing 48% of all political advertising. Connected television and streaming are projected to reach $2.7 billion, or 23%, while digital platforms are forecast to collect $1.6 billion, or 14%.

For television distribution and advertising leaders, the figures show that local broadcast remains the central political medium even as CTV and streaming claim a substantial second-place share. ConsumerEXP analysis: The rapid increase since July indicates that station groups, streaming services and advertising-technology providers should prepare for heavier demand as Election Day approaches. Broadcasters with outlets in competitive states stand to capture the greatest revenue, while cross-platform sellers must manage campaigns that increasingly combine regulated broadcast inventory with audience-targeted streaming and digital placements.