GOP hopefuls spend big in Iowa

Republican presidential campaigns have poured an unprecedented $124 million-plus into video and TV advertising in Iowa, according to estimates from AdImpact.

Why it matters: The Iowa caucuses not only kick off the 2024 presidential primary, but they set the tone for the remainder of the campaign.

"Everything is nationalized now," said Matt Gorman, former senior adviser for Tim Scott's campaign.

"How you do in Iowa forms a narrative that leads you into New Hampshire. Thinking you can generate momentum out of thin air, with just a week between the two, is a fallacy."