Procter & Gamble is making good on its pledge to cut media costs after last year's acquisition of Gillette.
The Cincinnati-headquartered consumer goods giant is slicing its upfront US television advertising budget by 10% - following last year's 5% reduction in spend on broadcast TV commercials [WAMN: 13-Jun-05].
P&G's cfo Clayton Daley cited media spend as an area where savings could be made and profits boosted when the $57 billion (€44.47bn; £30.65bn) merger was first mooted.
The company - owner of such brands as Pampers and Oral-B - also faces pressure on its media budgets from rising raw materials costs and slower top-line growth.
And it is not the only big spender to be taking a stance at the annual upfront airtime sales. Telcos and movie studios are reported to be holding back, as are beleaguered US automakers and some pharmaceuticals advertisers.
Media agencies say, however, that retailers, overseas automakers and fast food companies have been strongly in evidence at the presentations.
Data sourced from AdAge.com; additional content by WARC staff