Report: Political TV ad spending hits $1 billion

Political spending on spot TV is approaching the $1 billion mark.
 
Year to date through Sept. 9 political ad spending on local TV was at $887.7 million, according to TVB data analyzed by Wells Fargo Securities, with 45 percent of that coming from the presidential race.
 
Another 34 percent of political spending on local TV has been for congressional races, with 17 percent from ballot initiatives and just under 4 percent from local races.
 
Adding in national spot spending, total political spending on broadcast TV has crossed the $1 billion mark, coming in at $1.04 billion through Sept. 9.
 
With the November elections less than two months away, the bulk of spending is still to come. Wells Fargo forecasts local TV spending will hit $2.80 billion by election day, making up 54 percent of all political ad spending.
 
Washington, D.C., has seen the most political spending so far this year, $39.04 million, with Cleveland a close second at $38.72 million. Tampa-St. Petersburg ($32.24 million), Las Vegas ($32.11 million) and Orlando ($26.23 million) round out the top five.
 

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