Coca-Cola cuts ad budgets by a third, spends less than PepsiCo | WARC | The Feed
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Coca-Cola cuts ad budgets by a third, spends less than PepsiCo
The steep decline in Coca-Cola advertising spend last year means major competitor PepsiCo invested more for the first time since 2000. This is according to a WARC Data analysis of company reports.
Why it matters
Coca-Cola publicly paused its advertising spend during the worst of the coronavirus pandemic last year and these figures now show by how much. PepsiCo took a different strategy, however, and maintained its ad budget at $3.0bn.
Notably, Coca-Cola saw net revenue decline by 11.3% last year to $33.0bn. PepsiCo grew its net revenue by 4.8% to reach $70.4bn.
Takeaways
- Coca-Cola has since been...
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