Political advertising spending has already hit a record $6.7 billion,according to estimates from Advertising Analytics, with just a few weeks to go before Election Day.
A vast percentage of that spending has gone to local TV stations and local cable -- $4.1 billion for local broadcast stations and $1 billion to local cable TV platforms.
Just $247 million has been spent on national broadcast and cable TV networks.
Nineteen markets have received over $75 million, while 11 markets have received over $100 million. Two of the biggest markets -- Los Angeles and Phoenix -- have received over $200 million so far.
The highly watched Presidential race has seen more than double the spending versus 2016 -- at $2.63 billion compared to $855 million.
Spending on Senate races is at $1.67 billion versus $989 million in the previous cycle. The House races are slightly lower -- at $950 million versus $1.03 billion.
Digital spending has an 18% share of total political advertising spend -- at $1.2 billion.
Advertising Analytics says 73% of digital spending consists of direct-response advertising for fund-raising and list-building -- compared to 23% of spending for TV-like “persuasion” ads.
Wonder how much to addressable TV?