Bloomberg: “Spending on political advertising is estimated to reach a record $10.2 billion in the 2024 cycle, according to new projections from AdImpact, which tracks and analyzes spending. Local television stations are projected to rake in half — $5.1 billion — of that amount, maintaining their advertising dominance in an increasingly competitive media landscape.”
“Television consumption has changed drastically in recent years as more consumers are opting to ditch costly cable subscriptions in favor of a la carte streaming services, depriving local stations of revenue. Still, local broadcast station owners, including Nexstar Media Group Inc. and Hearst Television Inc., remain the biggest beneficiaries of political group spending.”
