Bloomberg’s expensive bid for President
On Sunday, November 24, former New York mayor Michael Bloomberg officially announced his late-entry Democratic presidential bid, adding one more candidate to the roster in what is expected to be a record year for political advertising.
Last Friday, Bloomberg wasted no time with the launch his of his campaign, booking more than $37 million in TV ad buys over the next two weeks, according to Kantar data.
Excluding national network spots, which account for $7.6 million of ad bookings, Bloomberg is concentrating the majority of his initial campaign budget in Democratic states, allocating 43% of spend ($12.7 million) targeting the voters he may have an easier time winning over. The remainder of his money was split among Republican (30%) and toss up states (27%).
His creative executions take on President Trump with a focus on “rebuilding America,” discussing his past successes in business and during his three terms as Mayor of New York City, while also hitting on hot button topics like health care, gun control and climate change.
Bloomberg has already spent more on bookings to be aired in his first two weeks than any other candidate or supporting group in the race. The exception is Democratic hopeful Tom Steyer, who invested $54.1 million through November 18, 2019.
With the election now less than a year away, these numbers are growing daily, with totals for all political spending expected to reach an estimated $6 billion by the end of the 2020 election cycle. We will be continuing to monitor how much and where the candidates and their supporters are spending throughout the year to keep you informed on where things stand.
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