Mike Bloomberg To Double His $300M Advertising Budget After Iowa Snafu
Democratic candidate and billionaire businessman Mike Bloomberg seized the chaos from the Iowa caucuses as an opportunity to double his advertising campaign and capitalize on the disappointing results of Tuesday’s caucuses.
“I think where there is no one clear winner it gives us the opportunity to get the message out, and we’re going to take the opportunity,” Bloomberg told Reuters on Tuesday.
The results from the Iowa caucuses have still not yet fully been reported, due to a glitch in the new reporting system. Currently, with 86% of precincts reporting, former South Bend Mayor Pete Buttigieg leads with 26.7%, followed closely by Sen. Bernie Sanders (I-Vermont) at 25.4%. Bloomberg is at 0%, according to the Associated Press.
Bloomberg has been a big spender on digital and broadcast advertising, buying $310 million worth of ads. He plans to double his budget to $600 million.
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An aide told the New York Post that the campaign will also expand its staff to more than 2,100 people nationwide.
The former New York City mayor said he will skip other early voting states, including New Hampshire, instead opting to travel to California and important swing states.
“It’s much more efficient to go to the big states, to go to the swing states,” Bloomberg said. “The others chose to compete in the first four. And nobody makes them do it, they wanted to do it. I think part of it is because the conventional wisdom is ‘Oh you can’t possibly win without them.’”
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