S&P: Political ad spending on local TV to reach $4 billion in 2026
April 27, 2026 - Competitive races and early campaign spending are driving strong demand for local TV inventory in key battleground states.
Yes this is when we talk about Congress, Senate and Gubernatorial elections having a factor in ad spending to local TV stations. Yes as expected Sinclair, Nexstar, Gray are mentioned as the ones that will gain the most from the 2026 ad revenue.
- Political ad spending will exceed $4 billion, a record for a non-presidential cycle, according to a new S&P Global Intelligence report.
- Competitive races and early campaign spending are driving strong demand for local TV inventory in key battleground states.
- Station groups like Sinclair, Inc., Nexstar Media Group and Gray Media are positioned to benefit most through their ownership or operation of TV stations in competitive local markets.
Political advertising is expected to eclipse $4 billion this year and account for 16.3 percent of total broadcast revenue, setting a record for a non-presidential election year and reinforcing its role as a key revenue driver for station groups amid softer core advertising trends, S&P Global Intelligence said.
The increase is being driven by a highly competitive election cycle, with 36 gubernatorial elections and a large number of open seats due to term limits and retirements. That dynamic is expected to intensify spending at the local level, particularly in battleground states including Arizona, Georgia, Michigan, Nevada and Wisconsin. Competitive Senate races in Texas, Maine and North Carolina are also contributing to higher ad demand.