Coca-Cola cuts ad budgets by a third, spends less than PepsiCo | WARC | The Feed

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.