Jeb Bush's campaign and his Right to Rise Super PAC have spent more than $10 million in TV ads since September -- more than any other candidate or 2016 entity.
And they have little to show for it so far.
Related: Bush Campaign Slashes Staff and Limits Spending in Major Restructuring
Two new polls (Des Moines Register/Bloomberg, Quinnipiac) show him at just 5 percent in Iowa. And another poll (Bloomberg) had him at 10 percent in New Hampshire.
Yet Bush and his Super PAC are outspending everyone else over the airwaves, according to ad-spending numbers from NBC News ad-tracking partner SMG Delta.
Top overall spenders
Team Bush: $10.7 million ($10.3 million from Right to Rise Super PAC, $400K from campaign)
Team Kasich: $5.8 million (from two different outside groups)
Team Clinton: $5.6 million (all from campaign)
Team Rubio: $5.5 million (all from the dark-money 501c4 Conservative Solutions Project)
Team Christie: $4.2 million ($3.8 million from Super PAC, $400K from campaign)
Team Jindal: $3.1 million (all from Super PACs)
Top spenders in Iowa
Team Jindal: $3.1 million
Team Bush: $2.8 million
Team Clinton: $2.1 million
Team Rubio: $933,000
Top spenders in New Hampshire
Team Bush: $6 million
Team Kasich: $5.8 million
Team Christie: $4.2 million
Team Clinton: $3.5 million
Team Rubio: $1.2 million
Top spenders in South Carolina
Team Bush: $1.9 million
Team Rubio: $715,000
SOURCE: SMG Delta as of Oct. 20, 2015