Bloomberg Ad Buys Up to $58 Million as He and Steyer Dominate Spending Among 2020 Field

Former New York Mayor Michael Bloomberg arrives to speak with Virginia House Delegate-elect Nancy Guy after launching his presidential campaign in the D'Egg cafe in Norfolk, Virginia on Nov. 25, 2019. Joshua Roberts/Reuters

Michael Bloomberg’s spending on ads is up to $58 million as he and fellow billionaire Tom Steyer permeate television markets and dominate spending among the Democratic presidential candidates.

Bloomberg spent more than $37 million on ads scheduled to run on television, mostly local networks, through the next week.

About $12 million of the latest purchases are targeting voters in Democratic states while the rest was split between Republican and toss-up states and national television spots, according to Kantar Media.

The biggest buys were in California ($4.1 million), Florida ($3.8 million), and New York ($2.3 million).

Bloomberg’s spending was more than all candidates combined had spent through Nov. 1, with the exception of Steyer, who has dropped $54.1 million, Kantar Media said. The group estimates $10 billion will be spent in the 2020 cycle.

“Our plan is twofold: compete aggressively in primary states like Florida where other campaigns have not focused as much, while simultaneously taking the fight to Donald Trump—right now—in those states, which are also key battleground states in the general election,” Bloomberg campaign spokesperson Marc LaVorgna told the Tampa Bay Times.

“In a state like Florida or other crucial swing states, Trump effectively has had the field to himself, running ads and starting his reelection effort. Mike has begun challenging him in those states already, and is the only candidate doing so.”

Bloomberg had already spent about $34 million for ads across 46 states as of Nov. 22, according to Advertising Analytics. It appears some of the data overlapped; Bloomberg had spent $58 million on television ads through the week of Dec. 3, according to David Wright of CNN, citing Kantar.

Lavorgna wouldn’t say how much Bloomberg plans to spend overall for his self-funded campaign.

“Whatever it takes to ensure that Donald Trump is not re-elected,” he told the New York Post.

Bloomberg also planned a $100 million digital ad buy focused on President Donald Trump even before he officially announced his bid for president.

Bloomberg tested his candidacy before officially announcing on Nov. 24.

Rivals have denounced Bloomberg’s massive spending. “I’m disgusted by the idea that Michael Bloomberg or any other billionaire thinks they can circumvent the political process and spend tens of millions of dollars to buy our elections,” he said in a statement.

David Axelrod, a political analyst who was part of President Barack Obama’s administration, said that the ad buys were “shock and awe.”

“He’s late to the party. He doesn’t have a ready base. But he has $$, and he’s going to spend it!” he said on Twitter.