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Bloomberg spent more than $1 million on that barrage of #Instagram memes. #Forbes

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Saturday, 15 February, 2020, 13:40
Bloomberg spent more than $1 million on that barrage of #Instagram memes. #Forbes

The much-discussed Bloomberg political ad campaign that employed around 30 different influencers to create Instagram memes delivered a lot of hype for little money, according to experts who spoke with Forbes, who estimate that it cost between $1 million and $1.5 million.

For the ads, Bloomberg hired Meme 2020, a new company created by some of the biggest names behind Instagram’s most followed meme accounts, including @tank.sinatra, Doing Things Media and Jerry Media, the company behind @FuckJerry.
A typical Instagram influencer with 1 million followers charges at least $10,000 per post, according to influencer marketing agency Mediakix, while outfits with bigger followings like Jerry Media have a starting rate of $50,000 per post.
But “sponsored political posts bring higher risk, since there’s a chance that people could unfollow their favorite meme pages if they disagree with political content,” says Vickie Segar, founder of Village Marketing.