Political advertising spending and reservations for the 2025–26 election cycle have reached a record $11.21 billion, surpassing the entire 2024 presidential election cycle with a week remaining 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 beneficiary, even as campaigns increasingly turn to streaming and digital platforms to reach voters who have moved away from conventional TV.
The $11.21 billion total narrowly exceeds the $11.20 billion recorded during the 2023–24 cycle, the firm said Monday. The figures are not adjusted for inflation, and the latest tally includes future advertising reservations rather than only commercials that have already aired.
The increase is even more pronounced compared with the previous midterms. Political advertising totaled $8.9 billion during the 2022 cycle, according to AdImpact, meaning the current cycle has already surpassed that benchmark by more than $2.3 billion.
Broadcast television accounted for 51% of the $3 billion in political advertising that aired during the third quarter, compared with 23% for connected TV and 15% for digital platforms, according to AdImpact’s latest quarterly report. Those shares reflect third-quarter spending rather than the final breakdown for the election cycle.
In its June forecast, AdImpact 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, while gubernatorial spending was expected to reach $2.4 billion, up from $1.9 billion.
The spending surge is particularly important for local television stations, where campaigns and outside groups compete for limited commercial inventory in closely contested markets. That demand can drive up advertising rates and provide a valuable revenue boost for broadcasters facing declining traditional TV audiences and pressure on their core advertising businesses.
But the windfall is temporary. Once the political ads disappear after Election Day, local stations will still face the longer-term challenge of attracting advertisers and viewers in an increasingly fragmented television market.
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