Angered by the soaring cost of TV ad time, the UK arm of fmcg heavyweight Procter & Gamble, is to switch a significant proportion of its advertising budget from television to the internet and other new media.
According to Chris de Lapuente, P&G’s managing director in the UK, television ad campaigns will no longer account for the bulk of P&G’s adspend. "[TV] advertising costs have been excessive and are bad for the industry and the consumer,” he complained. “Consumers are forced to pay as advertisers pass on the costs. We want healthy competition in the marketplace for TV airtime.”
Calling for a halt to the inexorable consolidation within Britain’s TV market, Lapuente claimed that it could lead to one company [a merged Carlton/Granada] holding sixty per cent of the TV ad market.
News Source: CampaignLive (UK)