Political candidates and campaigns have increased their spending across media formats in the months leading up to the midterm election, with revenue generated from political spots reaching more than $6 billion, according to new estimates from AdImpact.
The political ad tracker projects total spending for the 2026 cycle will now reach $11.6 billion, fully surpassing the $8.9 billion spent during the 2022 midterm season and the $11.2 billion spent during the 2024 presidential election year.
Spending has increased by $1.3 billion since July 16, when AdImpact estimated total political ad spending at $4.8 billion.
Broadcast television continues to capture the largest share of political advertising dollars. AdImpact said broadcast spending has reached $3.12 billion so far this cycle, followed by connected television and streaming at $1.14 billion. Digital platforms have drawn $937 million, while cable television has captured $770 million.
Radio has received $124 million in political advertising spending, while satellite has generated $51 million.
Among television station groups, Gray Television has received the most political ad spending so far at $434 million, owed largely to the prominence of its stations in battleground states. Nexstar Media Group, the largest independent owner of local TV stations in the country, follows with $416 million, ahead of Fox at $363 million, TEGNA — which now operates as a Nexstar subsidiary — at $350 million and Sinclair, Inc. at $319 million.
Republican-supported candidates and issues have accounted for $2.69 billion in spending, while Democratic spending has reached $2.35 billion. Independent spending totals $1.11 billion, according to AdImpact.
For the full 2026 cycle, AdImpact expects broadcast television to capture $5.6 billion, or 48 percent of total political ad spending. Connected television and streaming are projected to receive $2.7 billion (23 percent), while digital platforms are expected to draw $1.6 billion (14 percent).
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