Despite the ongoing shift towards digital platforms, broadcast television is poised to capture a substantial portion of political advertising expenditure leading up to the upcoming midterm elections. Projections indicate that the 2025-26 election cycle will be the most expensive on record, with an estimated $11.6 billion in total spending. Of this colossal sum, approximately $5.6 billion, or 48%, is expected to flow into broadcast companies, according to data from advertising intelligence firm AdImpact.

Industry experts attribute broadcast’s enduring appeal to its unique advantages in political campaigning. Analysts, such as Daniel Kurnos, an equity research analyst, emphasize that politics remains a “local game,” where winning counties necessitates reaching voters directly within those communities. Broadcast audiences, often tuning into major networks like NBC, ABC, CBS, Fox, and their local affiliates, tend to be more politically engaged. Furthermore, veteran political strategists like Terry Nelson of Plus Communications highlight broadcast spots’ efficiency in reaching large voter segments cost-effectively. The medium’s broad accessibility, being free and widely available despite cord-cutting trends, along with its strong viewership during live events like sports, reinforces its value.

This significant influx of political advertising revenue is set to benefit publicly traded broadcasting companies. Firms including Nexstar Media Group, Gray Media, Sinclair, and E.W. Scripps have already reported robust political advertising revenue in their most recent fiscal quarters, with forecasts for continued growth. For these companies, political advertising represents a high-margin revenue stream, requiring minimal additional infrastructure or creative investment. Nexstar, for instance, reported $75 million in political advertising revenue driving growth in its legacy operations, while Gray Media is strategically positioned in markets with highly competitive races, making it a key beneficiary.

While broadcast maintains its stronghold, the landscape is evolving. Connected TV (CTV), encompassing internet-connected devices like Apple TV and Roku, represents the fastest-growing segment of political advertising spend. AdImpact forecasts CTV to capture 23%, or $2.7 billion, of this cycle’s ad spending, with continued growth anticipated. Pia Carusone, who manages the political advertising department at SKDK, notes that streaming and CTV platforms offer more nuanced audience targeting capabilities compared to traditional broad market buys. Ultimately, successful political advertising strategies are increasingly adopting a diverse portfolio approach, integrating both traditional and digital channels to maximize reach and impact.

Key Takeaways

• Broadcast TV is projected to capture nearly half ($5.6 billion) of the record $11.6 billion political ad spending for the 2025-26 election cycle.
• Its continued dominance is attributed to local reach, voter trust, cost-efficiency in reaching politically active demographics, and strong viewership during live events like sports.
• Publicly traded broadcasters such as Nexstar, Gray Media, Sinclair, and E.W. Scripps are experiencing significant revenue boosts from political advertising, which offers high-margin returns.

Editor’s Analysis & Impact

The enduring strength of broadcast television in political advertising, despite the broader shift to digital, underscores its unique and irreplaceable value for campaigns. This trend provides a critical revenue lifeline for traditional media companies, allowing them to leverage existing infrastructure for high-margin political ad dollars. Looking ahead, while Connected TV (CTV) is rapidly gaining ground due to its precise targeting capabilities, a hybrid advertising strategy combining the broad reach and perceived trustworthiness of broadcast with the granular targeting of digital platforms will likely become the standard. This dynamic highlights that for high-stakes communications like political campaigns, the ‘local game’ and voter trust remain paramount, influencing how other industries might approach sensitive or highly regulated advertising in the future.

Frequently Asked Questions

Q: Why do political campaigns still heavily rely on broadcast TV?
A: Political campaigns continue to prioritize broadcast TV due to its unparalleled local reach, broad accessibility (being free), and its perception as a trustworthy source by many voters. These factors make it highly effective for influencing local elections and engaging politically active demographics.

Q: How much is projected to be spent on political advertising in the upcoming election cycle?
A: The 2025-26 election cycle is forecast to be the most expensive on record, with an estimated $11.6 billion in total advertising spending across all platforms.

Q: Are digital platforms like Connected TV (CTV) gaining traction in political advertising?
A: Yes, Connected TV (CTV) is the fastest-growing category in political ad spending, projected to capture 23% or $2.7 billion of this cycle's ad spending. Its advanced audience targeting capabilities are increasingly appealing to campaigns.