Wells Fargo Equity Securities (Marci Ryvicker and Timothy Schlock) are tracking political ad dollars until the 11/2 elections. They also provide a weekly snapshot of those companies with the greatest exposure to each week’s incremental spend (both in terms of absolute dollars and as a percent of overall market revenue). Recall that i) broadcast TV typically receives 60% of all political ad dollars, and ii) generally 75% of political advertising comes in the 7-8 weeks leading up to the elections.
** Year-to-date, through 10/17, political ad spend on broadcast TV totaled $1,417M. This represents a $187 million, or 15% increase, over the prior week (ending 10/10). The pace of incremental spend remained strong, growing 26% over the prior week’s high water mark – the $187 million spent was easily the most year-to-date, surpassing the $148M spent in the prior week.
** TOP MARKETS THIS WEEK IN ABSOLUTE DOLLARS: Los Angeles, CA; New York, NY; Chicago, IL; Philadelphia, PA**; and Orlando, FL.
** TOP MARKETS THIS WEEK AS PERCENT OF MARKET REVENUE: St. Joseph’s, MS**; Youngstown, OH**; Greenville, NC**; Twin Falls, ID**; and Quincy, MA**.
** TV COMPANIES WITH GREATEST EXPOSURE TO ABSOLUTE CHANGE: Multicultural TV, at 100%; NBCU/CMCSA, at 95.1%; DIS, at 91.3%; Tribune, at 87.5%; and CBS, at 81.8%.
** TV COMPANIES WITH GREATEST EXPOSURE TO CHANGE AS % OF MARKET REV: MEG**, at 18.1%; MDP, at 17.0%; BLC**, at 15.6%; Cox**, at 11.3%; and SBGI**, at 11.2%.
** RADIO COMPANIES WITH GREATEST EXPOSURE TO ABSOLUTE CHANGE: SBSA, at 86.9%; ABC/DIS, at 84.5%; CBS, at 78.1%; SALM**, at 75.0%; and Univision, at 74.2%.
** RADIO COMPANIES WITH GREATEST EXPOSURE TO CHANGE AS % OF MARKET REV: ETM**, at 10.2%; BBGI, at 8.1%; ROIAK**, at 7.2%; JRN**, at 6.6%; and SALM**, at 5.2%.
