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Political ad spending and reservations for the 2025–26 election cycle have reached $11.21 billion, surpassing the entire 2024 presidential election cycle with a week to go before Election Day, according to new figures from ad tracking firm AdImpact.
The milestone represents a major influx of political advertising dollars for broadcasters and digital platforms. Traditional television remains the biggest gainer, even as campaigns turn to streaming and digital platforms to reach voters who have drifted away from traditional TV.
The total of $11.21 billion is somewhat higher than the $11.20 billion recorded in the 2023-24 cycle, the company said on Monday. The figures are not adjusted for inflation, and the latest count includes future ad bookings rather than just ads that have already aired.
The increase is even more pronounced compared to the previous midterms. Political advertising totaled $8.9 billion in the 2022 cycle, according to AdImpact, meaning the current cycle has surpassed that benchmark by more than $2.3 billion.
Broadcast television accounted for 51% of the $3 billion in political advertising broadcast in the third quarter, compared to 23% for connected TV and 15% for digital platforms, according to AdImpact’s latest quarterly report. These shares reflect spending in the third quarter rather than the final break for the election cycle.
In its June forecast, AdImpact’s projected total spending would reach $11.6 billion by the end of the cycle. Broadcast television was expected to capture $5.6 billion, or 48% of the total, followed by connected TV at $2.7 billion, or 23%, and digital advertising at $1.6 billion.
Competitive Senate and gubernatorial races have helped fuel the increase. The firm’s June projections put Senate advertising at $3.4 billion, up from an earlier estimate of $2.8 billion, and gubernatorial spending was expected to reach $2.4 billion, up from $1.9 billion.
The cost increase is particularly significant for local television stations, where outside companies and organizations compete for limited commercial schedule in highly competitive markets. That demand can increase ad ratings and provide a valuable revenue boost to broadcasters facing shrinking traditional TV audiences and pressure on their core advertising businesses.
But the loss is temporary. Once the political ads disappear after Election Day, local stations will still have the long-term challenge of attracting advertisers and viewers in an increasingly fragmented television market.
