Wednesday, October 21, 2020

Biden has 'sizable cash advantage', Bloomberg investing $100M in Florida

Kerry Eleveld, Daily Kos Staff, reports that Trump’s final ad buy shows just how broke his campaign really is.

On a call Monday, Trump campaign manager Bill Stepien revealed the campaign’s total ad buy for the last two weeks of the presidential race would be a whopping a paltry $55 million … split between no fewer than 11 states.

Um, just wow. And that’s not only the Trump campaign, it represents coordinated spending with the Republican National Committee (RNC) too. Far from being a muscular way to close out the race, it feels more like a cry for help. By comparison, Biden campaign manager Jen O’Malley Dillon said last week that she still anticipates raising another $234 million through the election.

What is perhaps most interesting in these final weeks is just how small Trump is playing even as Team Biden has played very big—and not just in terms of overall spending. As this Politico piece explains, the Biden campaign has seen so many paths to 270 open up that in some cases they realized it would be more cost effective to make national buys rather than spending astronomical amounts in smaller battleground markets. It’s a worth a read.

Under normal circumstances, most campaigns at this point would be making buys to leverage their position in 10 or even fewer states. But the Biden campaign realized that making some national buys through the networks would actually cost only slightly more, for instance, than purchasing air time in states with major Senate races like Arizona, North Carolina, and Georgia, where pricing had gone through the roof. The big upside of the national buys was that they had the advantage of not only reaching the desired markets in key battlegrounds but also establishing a Biden presence in states that were newly on the radar, like Texas.

“We are looking at a very wide map right now,” Becca Siegel, the Biden campaign’s chief analytics officer, said. “Normally at this stage of the campaign, we would be narrowing in. But at this stage of the campaign, we have a lot of pathways that have opened up.”

So as Trump closes out with a whimper, Biden is heading out with a roar, and his sizable cash advantage has made all that possible.

Bloomberg Says He’ll Spend $100 Million in Florida to Help Biden. The move came as polls show a tight race in Florida, and after criticism that the New York billionaire had not delivered on his promise to put his fortune behind defeating President Trump. (Updated Sept. 18, 2020)

That distribution of funds will free up Biden campaign funds for investing in other critical states. For example:

… Mr. Bloomberg’s campaign manager, Kevin Sheekey, had told Democrats privately that if Mr. Bloomberg were not the nominee he would form a new super PAC and mount an enormous effort against Mr. Trump in the country’s biggest swing states.

The new $100 million commitment in Florida will be routed through one of Mr. Bloomberg’s super PACs, Independence USA, as well as other Democratic groups, according to a spokeswoman. The effort is expected to emphasize communications with Hispanic voters, the spokeswoman said.

In a statement issued Sunday, Mr. Sheekey said Mr. Bloomberg’s latest commitments “will mean Democrats and the Biden campaign can invest even more heavily in other key states like Pennsylvania, which will be critical to a Biden victory.”

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