Michael Bloomberg is doubling down on campaign ad spending, taking a gamble on Iowa’s uncertainty and disastrous execution.
Betting on Super Tuesday
Monday’s Iowa caucuses were in complete chaos, with no clear results after a technical meltdown that prevented officials from using an app to report results. Uncertainty over which Democratic candidate will face-off Trump seems to be what’s drawn Bloomberg to gamble even more with advertising.
Skipping February’s four early races, which began on Monday in Iowa, Bloomberg’s betting everything on Super Tuesday and beyond, swarming social media with ads and positioning himself as a moderate, highlighting his chances of beating Trump.
Bloomberg entered the 2020 presidential race quite late, but has dwarfed every other competitor when it comes to spending on ads – taking in consideration TV, radio and digital ads, the former mayor of New York City has already spent more than $300 million, and it is said that he plans to invest upwards of 2 billion more on the total effort.
Although many argue that his extremely large investment may be for not, his bet is not totally baseless, as Bloomberg has secured his strongholds and foundations in key states like North Carolina and Pennsylvania, alongside the promise that whoever the Democratic nominee might be, he’ll be backed by the campaign apparatus.
While the increase on ad spending is quite significant, Bloomberg’s campaign said that staff will be doubled as well, making the total number of staff 2,000, as the former mayor’s strategy has less than a month to go before he sees whether the investment was worthwhile.