Procter & Gamble's advertising spend rose 12% to $8.2bn in the 12 months to the end of June 2021, according to the latest company reports. This is the highest level spent since at least FY2014.

Why it matters

One of the largest advertisers in the world is spending more on advertising, reiterating the post-pandemic advertising recovery.

P&G's outgoing CEO, David Taylor, added: "We’re improving the efficiency and effectiveness of our advertising investments, bringing some media planning work in-house to achieve greater cost efficiency, while also enabling us to place ads with greater precision based on more granular analytics to reduce...