Election Tally: $3.1B Spent on TV Ads

Local broadcast Tallied $2.9 billion, up 86% from 2008
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Election year spending poured $3.1 billion into the broadcast TV business, according to a new report.

About $2.9 billion was spent on local TV ads, according to an analysis of Kantar Media's CMAG data by Marci Ryvicker, senior analyst at Wells Fargo. The rest went to network and national spots.

The local TV spending was 38% higher than in 2010 and 86% more than was spent in the previous presidential election year of 2008. In October alone, there was $1.27 billion spent.

The biggest contributor to spending was the presidential race, which contributed 41.8% of the ad dollars. Another 21.9% was spent in support of ballot initiatives. The "others" category accounted for 5.1%.

The markets that got the most political ad dollars were Los Angeles, Washington, Cleveland, Las Vegas and Denver.

The media companies with the most exposure in those markets are News Corp., CBS, NBC, Gannett and Disney.