The ‘Bloomberg Effect’ Has Upended the 2020 Campaign

Wall Street Journal: “The flow of cash—dubbed the Bloomberg effect by media-measurement firm Advertising Analytics LLC—has upended the financial dynamics of the election. Television ad rates jumped 45% in Houston after the Bloomberg campaign bought $1 million worth of ads in November, Advertising Analytics said. The campaign paid as much as double the going rate for staff and promised jobs to workers through November, whether or not Mr. Bloomberg stays in the race. The candidate now has 1,000 campaign staffers.”

“It’s a big part of the reason roughly $20 billion is expected to be spent on political advertising this election cycle, dwarfing the previous record of $12 billion in 2016.”