NewsReady.com) – As a late entry to the Democratic presidential field, billionaire Michael Bloomberg has always had an uphill battle going into the 2020 elections. He has yet to make it to the stage of any DNC debate, though he has partially qualified for them. Still, Bloomberg continues to spend hundreds of millions of dollars on his campaign.
Will his strategy of throwing money at a presidential bid work?
So far, Bloomberg has spent around $217 million on his presidential campaign, which is about 75% of the total spent by every other presidential campaign combined. That includes Trump, too. The money has been largely spent on both TV and digital advertisements to speak directly to Americans.
The direct result of Bloomberg’s massive influx of money into the 2020 presidential election advertisement industry has inflated ad costs for everyone. For example, TV ad prices jumped 45% in Houston, Texas after his campaign purchased $1 million in ads last November. To accommodate the demand to complete the workload, his campaign now has about 1,000 staff members.
The cost for political ads for the 2020 election cycle is estimated to be a record-breaking $20 billion compared to the $12 billion spent in 2016.
As for Bloomberg, he has risen in recent polling, an indication that the ad blitz is paying off.
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