Bloomberg’s ad-spending spree
February 11, 2020 - Billionaire Mike Bloomberg has spent around $58m on digital advertisements alone since joining the U.S. presidential race last November, compared with $40m spent by President Donald Trump since January 2019.
Bloomberg, the former mayor of New York City, has spent more than $250 million on TV and radio ads and around $58 million on digital.
Bloomberg is worth about $60 billion and is self-funding his campaign to be president.
Following the Iowa caucuses, in which former Pete Buttigieg and Bernie Sanders finished ahead after a counting process riddled with inconsistencies, Bloomberg’s campaign announced plans to double its spending.
However, when it comes to online presence via ad variations, Trump still dwarfs his Democratic rivals. According to The Guardian, the Trump campaign spent $19.4m on 218,100 different Facebook ads in 2019, which were seen between 633 million and 1.3 billion times.
The campaign did not come up with 218,100 completely different messages. Instead, as with the “official approval poll” ad, it ran hundreds of minor variations of a smaller number of distinct ads.
Web designer Brad Parscale, the architect of Trump’s 2016 digital campaign, has been promoted to lead his re-election campaign and is once again experimenting heavily with online advertising.
Bloomberg is running an unconventional campaign that hinges on performing well in contests that come later. He has flooded TV, Facebook and Google with advertising that has improved his standing, even though he has not appeared in a single debate.
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