DETROIT — In the wake of an Iowa caucus debacle that has so far produced no winner, former New York mayor Mike Bloomberg authorized his advisers Tuesday morning to double television spending for his own presidential campaign, as his advisers have become more bullish on his odds of success.
The increase, from 1,200 gross ratings points in all targeted markets to 2,400 gross ratings points, represents a massive escalation of what is already the most costly campaign for the Democratic nomination in U.S. history.
Bloomberg’s presidential strategy is dependent on a chaotic result in the first four Democratic nominating states, where he is not competing, a result Bloomberg advisers believe they achieved in Iowa on Monday. Technical problems have so far prevented the state from declaring a winner, and former vice president Joe Biden, the polling leader, is unlikely to win first place, according to data tracked by multiple campaigns.
The Iowa Democratic Party plans to announce the results of the caucuses at 5 p.m. on Tuesday.
“This is the best-case scenario,” Bloomberg senior adviser Howard Wolfson said of the confusing Iowa caucuses results. “After a year of running, the field is as unsettled as ever. No one has made the sale or even come close to it. Meanwhile, we are taking the fight to Trump every day.”
Since entering the race in November, Bloomberg has spent more than $300 million on television and digital advertising, according to Ad Analytics, an ad tracking firm.
By comparison, Sanders spent $11 million on television and radio ads in Iowa during the entire caucus campaign, while Buttigieg spent $10.3 million.
Bloomberg’s advisers have also been cheered in recent days by President Trump’s continued desire to engage directly with Bloomberg, a businessman worth more than $50 billion.
Both men ran ads during Sunday’s Super Bowl, and in a pregame interview Trump made light of Bloomberg’s physical stature, suggesting that he would want to stand on a box at a debate.
“I stand twice as tall as he does on the stage, the stage that matters,” Bloomberg responded to Trump.
Bloomberg told a noontime crowd in Detroit Tuesday that he was sleeping on a plane last night when he awoke and asked an aide about the results in Iowa.
“The guy said, ‘Nothing.’ ”
“I still can’t figure out what happened,” he said to laughter, before adding: “More than any other candidate, we have the momentum.”