• by Wayne Friedman , September 2, 2022

U.S. TV station advertising revenues are expected to rise near 18% to $24.15 billion in 2022 versus the year before -- largely due to growth in political advertising, according to the S&P Global Market Intelligence Radio & TV Annual Outlook.

S&P Kagan estimates that 2023 will sink back 10% to around $22 billion in total U.S. TV station advertising.

As has been the trend for decades, authors expect every other year's ups and downs in ad revenue to continue -- mostly due to political advertising gains every other year around the midterm and Presidential elections.

But the report suggests the advertising gains will trend lower -- around 15% in 2024 and 12% in 2026, with total U.S. station advertising hovering between $20 billion and $25 billion.

S&P Kagan estimates the compound annual growth rate (CAGR) to be basically flat from 2022-2027, ticking down slightly at 0.32%.

For the entire broadcasting industry, TV and radio ad revenue is estimated to grow 15% over 2018 to $3.49 billion for the 2022 midterm elections.

When including radio, U.S. broadcasting is projected to grow 12.9% this year to land at $36.47 billion in total advertising revenue.