The 2026 U.S. midterm elections are approaching with political advertising spending reaching unprecedented levels as campaigns make their final push before Election Day on November 3. On Market Movers at the New York Stock Exchange, Remy Blaire speaks with Tyler Goldberg, Senior Director and Head of Political at Assembly Global, part of Stagwell, about the record political advertising market, the final allocation of campaign resources and why affordability and cost of living concerns are dominating political messaging across the country.
Goldberg examines the extraordinary scale of political advertising during the 2026 election cycle, with spending projected to reach approximately $11.6 billion and potentially approach $12 billion. The projected total exceeds the previous record set during the 2024 presidential election cycle, making the midterms a significant event for the advertising industry. He explains how spending accelerates dramatically in the final months of the campaign as political organizations, major donors and competing campaigns increase their investments in voter outreach.
The conversation explores how the final surge in political advertising develops as Republican and Democratic organizations respond to one another’s spending. Goldberg discusses how organizations associated with President Donald Trump and Elon Musk increase their activity toward the end of the election cycle, prompting additional spending from Democratic groups. He explains why competitive political advertising often creates a chain reaction in which increased spending by one organization encourages rivals to commit additional resources.