Gray Television Has Surpassed $400 Million in Net Political Advertising Revenue for 2020

Rhea-AI Summary

Gray Television, Inc. (GTN) announced that its local television stations and digital platforms have run over $400 million in political advertisements since January 1, 2020, net of commissions and fees. Following the November 3rd Election Day, approximately $20 million in political ads have been aired for the Georgia Senate run-off elections, expected to continue through January 5, 2021. This uptick will contribute to exceeding $400 million in total net political revenue for 2020. Gray operates in 94 markets and has the highest rated stations in numerous regions.

Positive

• Total political ad revenue for 2020 expected to exceed $400 million.
• Approximately $20 million in political ads for Georgia Senate run-offs since Election Day.
• Strong market presence with the number-one rated station in 68 markets.

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• None.

Atlanta, Ga, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) today announced that its local television stations and digital platforms have now run more than $400 million in political advertisements since January 1, 2020, net of commissions and agency fees. 

Since Election Day, November 3rd, Gray’s local television stations and digital platforms serving communities in the State of Georgia have run approximately $20 million (net) in political campaign and political issue advertisements related to the two run-off election races for U.S. Senate seats in Georgia.  Gray expects political advertisements for these two races will continue running through January 5, 2021, the date of the special elections.  As a result, Gray’s total net political revenue for the calendar year 2020 will exceed the $400 million level that was crossed yesterday.

Gray owns local television station and leading digital platforms serving the local markets of Savannah, Augusta, Albany, Columbus, and Thomasville, Georgia.  In total, Gray owns and/or operates television stations and leading digital properties across 94 television markets, including the number-one rated television station in 68 markets and the first or second highest rated television station in 86 markets. 

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FAQ

How much political advertisement revenue did Gray Television generate in 2020?

Gray Television generated over $400 million in political advertisement revenue since January 1, 2020.

What is the projected total net political revenue for Gray Television in 2020?

Gray Television expects its total net political revenue for 2020 to exceed $400 million.

How much did Gray Television spend on political ads related to the Georgia Senate run-offs?

Gray Television aired approximately $20 million in political advertisements for the Georgia Senate run-offs since November 3, 2020.

What are the key markets served by Gray Television?

Gray Television serves local markets in Savannah, Augusta, Albany, Columbus, and Thomasville, Georgia, among others.

When do the Georgia Senate run-off elections take place?

The Georgia Senate run-off elections are scheduled for January 5, 2021.