CINCINATTI: The world's number one marketer, Procter & Gamble, is upping its advertising spend on print, while cutting the amount of ad dollars it pumps into television.
The consumer goods giant, maker of brands such as Pampers diapers and Crest toothpaste, trimmed TV spend to 69.3% of its total advertising budget in the first half of 2006 - below 70% for the first time since 2001, according to TNS Media Intelligence figures.
Print now commands 28.2% of P&G's $1.6 billion (€1.25bn; £843m) first-half outlay, up 3.5% from a year ago. The shift to print has focused heavily on big-spending beauty brands Olay and Pantene.
Speaking after the company unveiled robust third quarter profits last week [WARC News: 02-Nov-06], chairman/ceo AG Lafley said the business was "reallocating investments from parts of the communication plan that aren't working as hard for us to parts ... that are".
However, PG has made it clear it is not giving up on TV. Adspend on the medium is up 4% in the first half. The company has also increased online spend, but the internet still only claims 1.4% of its ad dollars.
A P&G spokeswoman declined to comment on media allocation, save to say: "It really depends on the needs of the brands and where their consumers' interests are."
Rival Unilever cut TV in favor of print last year. TV's share of the marketer's media budget fell below 50% (to 45.1%) for the first time in decades, while print rose 12% to 37.7%.
But Unilever has reversed the trend in the first half of this year. Print has fallen to 32.7% of the budget as TV has risen more than 18 points to 63.5%.
Data sourced from AdAge.com; additional content by WARC staff