Political Advertising is a billion-dollar business. And that’s already true of next year’s cycle, as more than $1 billion has been spent in the arena, according to AdImpact data.
As the company has updated its forecasting for the 2026 cycle, AdImpact projects $10.8 billion will be spent in total on the mid-term elections.
It also reports that spending is approaching $1.1 billion in 2025, with more than $460 million earmarked for races this year, and an additional $605 million expected to be spent on 2026 elections.
Some of the top spending races include the New Jersey governor’s election ($118 million), Wisconsin’s Supreme Court race ($80 million), and the New York mayoral race ($39 million), among others.
Broadcast television is the largest earner of the millions being spent. $334 million is earmarked for terrestrial television, while digital channels will account for $280 million of the spending. Cable TV is forecast to earn $228 million, with connected television not far behind at $190 million. Radio ($29 million) and satellite ($4 million) round out the spending projections.
The top markets for political advertising include New York ($136 million), Washington, D.C. ($108 million), Philadelphia ($35 million), and Los Angeles ($18 million).
The AdImpact data shows that Democrats are the largest spenders, with $450 million spent in 2025. Republican candidates have spent $298 million, while independent and politically unaffiliated candidates and issues have spent $319 million in during the beginning of the 2026 cycle.
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