According to a new report from Wells Fargo Senior Analyst Marci Ryvicker, radio's political ad revenue could reach $256 million in this Presidential election year. Radio World reports that Ryvicker told clients this week that this $256 million figure is essentially flat from the last Presidential campaign year, in 2008.

That year, radio would up with $272 million in political ad spending in 2008, but also had 6.5 percent of the total political advertising dollars. In the 2004 Presidential election year, radio ended up with approximately $175 million in political ad money, making up 6.6 percent of the total ad buy. In 2012, Ryvicker predicts radio will wind up with 5.2 percent of the total political ad dollars.

Local TV is projected to be #1, with 54 percent of the ad dollars, totaling $2.6 billion. Internet political ad buying is expected to be just ahead of radio, with $295 million adding up to six percent.

Ryvicker added that these figures are conservative and projected through the end of July.