The midterm elections are here, and according to one television executive, it’s the best time considering the amount of political advertisement money pouring into stations at the local and national.
One key beneficiary of that cash inflow is Sinclair Broadcast Group, the No. 2 owner of local TV stations in the U.S. The company’s CEO, Chris Ripley, offered his perspective on political ads at the MoffettNathanson 9th Annual Media and Communications Summit.
“Some of these primary races are crazy,” Ripley said, per Deadline. “On the one hand, I lament that we’re in the political environment that we are. On the other hand, it’s very good for our business.”
Ripley used an example to make a point with his claim, citing U.S. Senate candidate J.D. Vance who won his primary race after spending a heavy amount ont television ads.
Furthermore, the television executive adds that the $75 million spent on TV ads for the primary was 40 times more than what was spent on the primary in the last election. Ripley also added that spending on ballots is also up and should continue to increase as issues like abortion and legal gambling arise.
“More and more issues are going on direct ballots,” he said. “With what’s going on with abortion rights, that’s going to just even add to that category.” Legalizing sports betting or cannabis are other issues generating significant ad spending.
Eduardo Razo is the Assistant Content Editor for BNM, which includes writing daily news stories on the news media industry. He can be found on Twitter @eddierazo_ or you can reach him by email at eddie1991razo@gmail.com.
