Why broadcast TV still dominates political ad spending

Key Points:

• Broadcast television is expected to capture the largest share of political ad spending ahead of the 2024 midterm elections, with an estimated $5.6 billion or 48% of the total $11.6 billion forecasted for the 2025-26 election cycle, making it the most expensive on record.
• Political ads remain a stronghold for broadcast due to its ability to reach local voters effectively, especially through trusted news and live sports programming, which tend to attract politically active audiences.
• Despite the rise of streaming and digital platforms, broadcast TV maintains a significant influence on voter behavior, with studies showing a large percentage of voters find broadcast and cable ads most impactful in shaping their vote.
• Broadcasters like Nexstar, Gray Media, Sinclair, and E.W. Scripps are already benefiting from increased political ad revenue, which helps bolster their financial performance and manage debt, with Nexstar reporting record quarterly revenue partly driven by political ads.
• Connected TV (CTV) is the fastest-growing segment of political ad spending, predicted to capture 23% ($2.7 billion) this cycle, as political strategists begin to leverage its advanced audience targeting capabilities alongside traditional broadcast to diversify their advertising strategies.