While early voting continues and the presidential election is now fewer than 10 days away, both campaigns are hitting the home stretch, which means it’s time to spend. So far, Democrat Joe Biden has been pouring out cash at a historic rate; in fact, he is now the highest-spending candidate on TV ads in campaign history. Keep in mind, there are still nine days left to spend more, but up to this point Biden has dished out more than $582 million to run TV commercials since his campaign launched.
According to Advertising Analytics, Biden spent nearly $50 million in the last week alone, surpassing New York City Mayor Michael Bloomberg, who spent heavily during the Democratic presidential primary in a bid to become the Democratic nominee.
So how does Biden’s TV spending compare with Trump’s? The gap is almost $250 million. The Trump campaign has spent $342 million in TV ads for his run for the White House.
The total for the 2020 campaign as a whole is expected to be in the range of $11 billion in total expenditures. The Center for Responsive Politics said that candidates for president, the Senate and the House will have accounted for about $10.8 billion of that amount by the time election season draws to a close.
Looking at the beneficiaries of all the spending, digital political advertising slid past cable for the first time ever, while advertising on broadcast television is still the king of the political spending circus.