2026 Midterm Ad Spending Set to Top the 2024 Presidential Race at a Record $11.6B
Updated: 6 days ago
TL;DR: AdImpact projects 2026 US midterm ad spending will hit a record $11.6 billion — roughly $400 million more than the entire 2024 presidential cycle — with broadcast still dominant but connected TV surging.
A record-breaking cycle
US political ad spending in the 2026 midterms is projected to reach a record $11.6 billion, according to AdImpact figures reported in Digiday's Media Buying Briefing on 5 October and covered by CNBC. That tops the $11.2 billion spent during the entire 2024 presidential cycle.
In other words, a midterm election is set to outspend a presidential race by roughly $400 million — an unusual inversion that underlines just how much money now flows through political advertising. The AdImpact projections were first issued in June 2026 and have been reported in the latest briefing.
Where the money is going
Broadcast remains the single largest channel at $5.6 billion, close to half of all spend — proof that local television still anchors political campaigns. But the growth story is elsewhere. Connected TV is projected at $2.6 billion, digital at $1.6 billion and cable at $1.4 billion.
The long tail fills out the picture: radio at $273 million and satellite at $88 million, according to Barrett Media on 28 September. The fastest-growing corner is audio — political podcast ad spend is up 42% year on year, a sign of how campaigns are chasing attention into on-demand formats.
The headline for commercial marketers is the shift of serious political money into connected TV, digital and podcasts — the very channels many brands now treat as their growth engines.
Why this matters beyond politics
Here is Marketing Minute's read, kept strictly to the ad market. A record flood of political money does not stay in its own lane. It crowds out commercial advertisers and drives up inventory prices, especially in battleground markets, in the run-up to November.
When demand spikes against largely fixed supply, prices rise and availability tightens for everyone bidding on the same impressions. A retailer running local connected-TV ads in a contested state this autumn is, in effect, competing with campaigns that have enormous budgets and hard deadlines — a bidder you do not want to meet unprepared.
How to plan your Q4 around it
The practical response is to plan Q4 buys around the political price-surge and blackout windows rather than through them. Lock connected-TV and local inventory early, before rates climb, and secure commitments ahead of the heaviest demand in the final weeks.
It is also worth shifting weight toward channels political buyers under-use. Retail media, certain social placements and non-political podcast inventory can offer steadier pricing while broadcast and battleground CTV overheat. The brands that treat this cycle as a known pricing event, not a surprise, will protect both their reach and their budgets into Election Day.
Quick FAQ
How much will 2026 US midterm advertising cost?
AdImpact projects a record $11.6 billion in political ad spending for the 2026 midterms, roughly $400 million more than the $11.2 billion spent during the entire 2024 presidential cycle.
Which channels get the most political ad spend?
Broadcast leads at $5.6 billion, nearly half the total, followed by connected TV at $2.6 billion, digital at $1.6 billion and cable at $1.4 billion. Political podcast ad spend is up 42% year on year.
How does political ad spending affect other advertisers?
A record political cycle crowds out commercial advertisers and pushes up inventory prices, especially in battleground markets. Brands should book local and connected-TV inventory early to avoid the price surge into Election Day.
A record political cycle is not just a politics story; it is a pricing event for every advertiser in the market. When billions pour into local inventory, prices climb and availability tightens for everyone else. The commercial brands that plan around that surge, rather than get surprised by it, protect both their reach and their margins. — Daniel Nikolla, Founder of Merx Marketing
If you advertise locally this autumn, book inventory now and lock connected TV early — record political spend will push prices up and squeeze availability through Election Day.
Has your Q4 media plan accounted for the price surge that a record political ad cycle will push into local and connected-TV inventory?
If you would like to know more about this topic, please contact us on danieln@merxmarketing.co.uk
Sources: Digiday, CNBC, Barrett Media.
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Written by Daniel Nikolla, Founder of Merx Marketing Ltd and Marketing Minute
