He’s a one-man stimulus package!
Former New York City mayor Michael Bloomberg is spending so much money on television spots across the country that it’s causing ad rates to soar, a new analysis shows.
“The typical [TV] market increased their rates by 22 percent as the political spending poured in,” an Advertising Analytics analysis found.
“Houston was among the markets that responded most actively to the new advertiser,” it added. “This is partially attributable to Bloomberg’s $1 [million] buy increasing the political spending in the market tenfold. This shock spending increase was matched by a 45% increase in rates, which is among the highest of any market.”
That means the massive spending is driving up advertising costs for Bloomberg’s competitors and other advertisers, an Advertising Analytics’ analysis of the billionaire’s first week of ad spending found.
The Houston ad buy is one of dozens made by the billionaire media mogul’s campaign, which is shelling out an average of $25.5 million a week on campaign ads to woo Democrats since he joined the Democratic primary race in late November, records reviewed by The Post show.
Since announcing his candidacy a month ago, billionaire Bloomberg has booked $119 million in TV ads in markets throughout the country through Dec. 31 and another $15.2 million in digital ads, according to Advertising Analytics.
That comes to nearly $135 million.
If the pace continues, New York’s last mayor will blow through $357 million on TV ads by the March 3 primaries and $561 million by the time New Yorkers finally head to the polls on April 28.
And that extraordinary total doesn’t count the campaign’s staff hiring spree to put boots on the ground in states across the country.
Experts say Bloomberg’s will likely spending totals will easily cross the $1 billion if he wins the nomination to challenge President Trump in November.
There’s no historical comparison to Bloomberg’s early ad spending, said John Link, Advertising Analytics vice president of sales and marketing.
“With no end in sight for his ad blitz, we will continue to collect data on the way Bloomberg’s spending affects rates in markets across the country,” the analysis said.
According to the analysis, Bloomberg has spent $20.7 million on national TV ads, nearly $6 million in both the Los Angeles and New York City markets, $4 million in Houston, $3.8 million in Dallas/Ft. Worth, $3.6 million in San Francisco, $3.5 million in Miami, more than $2.6 million in Chicago and Orlando, $2.4 million in Seattle/Tacoma, $2.2 million in District of Columbia and about $2 million each in Philadelphia, Boston and Tampa.
The Bloomberg camp repeated its pledge Friday to spend “whatever it takes” to beat President Trump in 2020.
“Another four years of Trump would be devastating for our country,” said campaign spokesman Michael Frazier.
The post Michael Bloomberg’s massive ad spending greatly affecting TV markets appeared first on New York Post.