There’s a big wave of political ad money about to hit. Stagwell’s projecting around $10.1B in spending for the 2025–2026 cycle — about 15% higher than the last midterms. That’s enough to move entire corners of the media market.


Agencies like IPG look set to benefit. They just picked up Bayer’s global marketing account and have the scale to soak up big ad budgets. Local broadcasters like Nexstar and TEGNA usually get a nice bump during election cycles as inventory tightens and CPMs rise.


Then there’s Netflix. They’re pushing harder into ads with new brand deals, but at the same time, they’re dealing with social media backlash that’s adding volatility. Disney has some key content and pricing events coming up too.


On a different note, AMC quietly retired $40M in debt without issuing equity. Not a hype move, but it improves their balance sheet and lowers some risk.


So the question is: Who do you think benefits the most from this ad surge — big agencies, broadcasters, or the streamers? Are you positioning for this early, or waiting until closer to the election cycle?