Updated Jan 7, 2020

Bloomberg, Trump each secure $10 million Super Bowl ad slots

Left photo: Melissa Sue Gerrits/Getty Images. Right photo: JEFF KOWALSKY/AFP via Getty Images.

Michael Bloomberg and President Trump's 2020 campaigns have both secured 60-second advertising spots during the Super Bowl on Feb. 2 at a likely cost of at least $10 million each, Politico reports.

Why it matters: The buy highlights Bloomberg's massive spending power, as the billionaire continues to pump millions of his own money into his campaign. And it's just the start of what's likely to be a huge spending year for Trump.

  • Bloomberg has already spent $170 million on ads this election cycle, according to Advertising Analytics.
  • The Republican National Committee last week announced that it raised $463 million in 2019 and has nearly $200 million cash on hand.
  • The Super Bowl is just one day before the Iowa caucuses.

What we know: A campaign spokesperson says Bloomberg's ad's "biggest point is getting under [President] Trump's skin."

  • "The ad is part of Mike’s strategy of running a national campaign that focuses on states where the general election will be decided, parts of the country that are often overlooked," said Michael Frazier.
  • The Bloomberg campaign says the slot will be filled with a never-before-aired commercial.

Meanwhile, the Trump campaign says they're still working out the details of their Super Bowl ad, but that it will be texted to supporters days before the event.

Go deeper: Billionaires dominate 2020 ad spend

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Trump campaign previews Super Bowl ad

President Trump's 2020 campaign previewed its Super Bowl ad on Thursday, touting Trump's economic accomplishments.

The state of play: In a press release, the campaign stated the ad is one of two 30-second ads the campaign will air. The second one will debut during the game. Trump's campaign claims this is the first time that a presidential campaign purchased national Super Bowl advertising.

Super Bowl ads have become more about brand values than the brands themselves

Data: Axios research, Ad Age; Chart: Danielle Alberti/Axios

More advertisers are buying pricey Super Bowl ads this year to sell you on their values, rather than their products.

Why it matters: It's a reflection of a broader trend of companies investing more in marketing efforts that expand their corporate reputations long-term, rather than their bottom lines in the short-term.

Bloomberg: "I’m spending all my money to get rid of Trump"

Photo: Bastiaan Slabbers/NurPhoto via Getty Images

Former New York City Mayor Michael Bloomberg shot back at criticisms that he's running a self-aggrandizing campaign for the Democratic nomination, telling Reuters in an interview: "Number one priority is to get rid of Donald Trump. I’m spending all my money to get rid of Trump."

Why it matters: The campaign finance debate has taken on new significance in 2020, creating a clear divide within the Democratic Party. Progressive candidates like Sens. Bernie Sanders and Elizabeth Warren have turned away big-dollar donations in favor of grassroots fundraising, rebuking moderates like Pete Buttigieg and Joe Biden for soliciting donations from the wealthy.

Go deeperArrowJan 12, 2020