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Ad Age World's Largest Advertisers 2023

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Database of Ad Age World's Largest Advertisers (October 2023)
Ad spending, key agency relationships and marketer profiles for world's 100 biggest advertisers, available exclusively to Ad Age All Access subscribers. Top advertisers by country and data sources for each country.

More from Ad Age World's Largest Advertisers 2023:

Download the top 100 advertisers ranking in Excel.

Big picture: World's Largest Advertisers 2023—what's next after modest spending growth in 2022
Total ad spending for top global marketers rose 2.3% in 2022. Spending shifts varied markedly by company, region and category.
Analysis by Bradley Johnson

Quick take: Links to rankings and charts
Key rankings, stats and analysis from Ad Age's 37th annual global report on marketers.

Introducing Ad Age World's Largest Advertisers 2023
A brief introduction to Ad Age's annual global report on marketers.
Analysis by Bradley Johnson

About Ad Age World's Largest Advertisers 2023

Ad Age All Access subscribers can click tabs and "+" signs to see expanded data. The first record can be viewed for free. To subscribe, go to AdAge.com/getdatacenter.

Top 100 marketers by total worldwide advertising in 2022. Click Ad Age World's 100 Largest Advertisers to see ranking.

Unilever [This record free to all users]

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$8,246$8,1331.4
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Unilever ranked No. 29 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Unilever to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20129,402.514.2
    20139,806.514.8
    20149,525.414.8
    20158,889.615.0
    20168,559.014.7
    20178,557.914.1
    20188,447.714.0
    20198,144.114.0
    20208,093.414.0
    20218,133.213.1
    20228,245.513.0
    Figures converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    Ad costs:

    Stated worldwide "brand and marketing investment" costs (2012 to present); stated worldwide "advertising and promotions" costs (2011 and earlier). Brand and marketing investment include costs related to creating and maintaining brand equity and brand awareness. This includes media, advertising production, promotional materials and engagement with consumers.

    Effective with calendar-year 2014, Unilever renamed "advertising and promotions" as "brand and marketing investment" (BMI) after moving sales equipment costs from cost of sales to BMI and moving cost of merchandisers and consumer engagement centers from overheads to BMI. Unilever restated its 2013 and 2012 ad and promo costs to put them in line with the new definition.

    2022: 7.821 billion euros brand and marketing investment.
    2021: 6.873 billion euros brand and marketing investment.
    2020: 7.091 billion euros brand and marketing investment.
    2019: 7.272 billion euros brand and marketing investment.
    2018: 7.150 billion euros brand and marketing investment (restated from previous disclosure of 7.164 billion euros in advertising and promotions).
    2017: 7.575 billion euros brand and marketing investment (restated from previous disclosure of 7.566 billion euros in advertising and promotions).
    2016: 7.731 billion euros brand and marketing investment.
    2015: 8.003 billion euros brand and marketing investment.
    2014: 7.166 billion euros brand and marketing investment.
    2013: 7.383 billion euros brand and marketing investment (restated from previous disclosure of 6.832 billion euros in advertising and promotions).
    2012: 7.311 billion euros brand and marketing investment (restated from previous disclosure of 6.763 billion euros in advertising and promotions).
    2011: 6.069 billion euros (advertising and promotions).
    2010: 6.069 billion euros(advertising and promotions).
    2009: 5.302 billion euros (advertising and promotions).
    2008: 5.055 billion euros (advertising and promotions).
    2007: 5.289 billion euros (advertising and promotions).

    Ad spending as percent of sales:

    Worldwide brand and marketing investment as percent of turnover (sales) (2012 to present); advertising and promotions spending as percent of turnover (sales) (2011 and earlier).
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa136.4153.9-11.4
    Asia and Pacific2,233.02,073.37.7
    Europe1,380.51,399.9-1.4
    Latin America438.1332.331.8
    Canada0.0NANA
      Subtotal media outside the U.S.4,187.83,959.55.8
      U.S. media spending803.11,010.2-20.5
      Worldwide measured media$4,990.9$4,969.70.4
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Unilever (NYSE: UL)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$63,334$62,0602.1
    Earnings8,7187,83511.3
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Others40,67540,848-0.4
    U.S.12,78011,6739.5
    India7,2456,6489.0
    U.K.2,6342,891-8.9
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Nutrition14,65215,507-5.5
    Personal care14,37613,9203.3
    Home care13,07412,5104.5
    Beauty and wellbeing12,91511,9977.7
    Ice cream8,3168,1262.3
    Connections
    Unilever
    Ticker: NYSE UL
    Unilever House, 100 Victoria Embankment, London, U.K. EC4Y 0DY.
    URL: https://www.unilever.com
    Facebook: https://www.facebook.com/unilever
    X (formerly Twitter): @Unilever
    Divisions, key executives and agencies

AbbVie

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,000$2,100-4.8
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    AbbVie ranked No. 28 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on AbbVie to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2011375.02.1
    2012506.02.8
    2013626.03.3
    2014665.03.3
    2015704.03.1
    2016764.03.0
    2017846.03.0
    20181,100.03.4
    20191,100.03.3
    20201,800.03.9
    20212,100.03.7
    20222,000.03.4
    AbbVie acquired Allergan on May 8, 2020.

    Ad costs:

    Stated worldwide "advertising expenses."

    Ad spending as percent of sales:

    Worldwide "advertising expenses" as percent of "net revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.0.0NANA
      U.S. media spending1,184.91,172.91.0
      Worldwide measured media$1,184.9$1,172.91.0
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    AbbVie (NYSE: ABBV)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$58,054$56,1973.3
    Earnings11,83611,5422.5
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.45,71343,5105.1
    International12,34112,687-2.7
    Connections
    AbbVie
    Ticker: NYSE ABBV
    1 N. Waukegan Road, North Chicago, Ill. 60064/Phone: (847) 932-7900.
    URL: https://www.abbvie.com
    Facebook: https://www.facebook.com/abbvieglobal
    Divisions, key executives and agencies

Adidas

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,913$3,014-3.4
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Adidas ranked No. 78 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Adidas to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20173,077.512.8
    20183,545.713.7
    20193,406.812.9
    20202,708.412.9
    20213,014.012.0
    20222,913.012.3
    Converted to dollars.

    Ad costs:

    Stated worldwide "marketing and point-of-sale expenses."

    2022: 2.763 billion euros.
    2021: 2.547 billion euros.
    2020: 2.373 billion euros. (restated in 2022 from 2.573 billion euros).
    2019: 3.042 billion euros.
    2018: 3.001 billion euros.
    2017:2.724 billion euros.

    Ad spending as percent of sales:

    Worldwide "marketing and point-of-sale expenses" as percent of "net sales."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa1.72.2-22.4
    Asia and Pacific2.20.2982.7
    Europe27.654.1-48.9
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.31.556.5-44.2
      U.S. media spending152.1133.913.5
      Worldwide measured media$183.6$190.5-3.6
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Adidas (ETR: ADS)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$23,733$25,127-5.5
    Earnings6732,554-73.7
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Europe, Middle East, Africa9,0329,333-3.2
    North America6,7456,04711.5
    Greater China3,3685,440-38.1
    Asia-Pacific2,3632,595-9.0
    Latin America2,2231,71129.9
    Connections
    Adidas
    Ticker: ETR ADS
    Adi-Dassler-Strasse 1, Herzogenaurach, Germany 91074/Phone: 49 9132 84 0.
    URL: https://www.adidas-group.com/en
    Facebook: https://www.facebook.com/adidas
    Divisions, key executives and agencies

Alibaba Group Holding

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 3/31/2023Year ended 3/31/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$11,225$14,195-20.9
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2011146.74.7
    2012208.63.8
    2013330.53.9
    2014660.15.4
    2015869.15.5
    20161,308.35.6
    20172,539.46.7
    20183,283.55.8
    20194,444.96.1
    20208,429.78.0
    202114,194.810.7
    202211,224.68.8
    Fiscal years ended March 31.
    2022: Year ended March 31, 2023.

    Ad costs:

    Stated worldwide "advertising and promotional expenses" converted to U.S. dollars by Ad Age Datacenter at average exchange rates.

    2022: 76.818 billion renminbi.
    2021: 91.103 billion renminbi.
    2020:57.073 billion renminbi.
    2019: 30.949 billion renminbi.
    2018: 22.013 billion renminbi.
    2017: 16.814 billion renminbi.
    2016: 8.799 billion renminbi.
    2015: 5.524 billion renminbi.
    2014: 4.090 billion renminbi.
    2013: 2.022 billion renminbi.
    2012: 1.312 billion renminbi.
    2011: 938 million renminbi.

    Ad spending as percent of sales:

    Worldwide "advertising and promotional expenses" as percent of "revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific67.0102.2-34.4
    Europe20.912.270.9
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.87.9114.4-23.1
      U.S. media spending86.573.617.6
      Worldwide measured media$174.4$187.9-7.2
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Alibaba Group Holding (NYSE: BABA)
    WorldwideYear ended 3/31/2023Year ended 3/31/2022% chg
    Sales$126,933$132,916-4.5
    Earnings10,5959,6549.7
    DIVISION SALES (year ended 3/31/2023)
    Division or segment sales ($ in millions)Year ended 3/31/2023Year ended 3/31/2022% chg
    China commerce85,14992,174-7.6
    Cloud computing11,28111,618-2.9
    International commerce10,1129,5176.3
    Cainiao8,1367,18413.3
    Local consumer services7,3226,9525.3
    Digital media and entertainment4,6005,028-8.5
    Innovation initiatives and other332443-24.9
    Connections
    Alibaba Group Holding
    Ticker: NYSE BABA
    26/F Tower One, Times Square, 1 Matheson St., Causeway Bay, Hong Kong, China /Phone: 852 2215 5100.
    URL: https://www.alibabagroup.com
    Facebook: https://www.facebook.com/alibabagroupofficial
    X (formerly Twitter): @AlibabaGroup
    Divisions, key executives and agencies

Alphabet (Google)

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$9,174$7,87416.5
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Alphabet (Google) ranked No. 5 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Alphabet (Google) to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20012.52.9
    20025.61.3
    200320.91.4
    200437.71.2
    2005104.31.7
    2006188.41.8
    2007236.71.4
    2008266.41.2
    2009353.41.5
    2010772.02.6
    20111,544.04.1
    20121,992.04.3
    20132,389.04.3
    20143,004.04.6
    20153,186.04.2
    20163,868.04.3
    20175,134.04.6
    20186,367.04.7
    20196,769.04.2
    20205,374.02.9
    20217,874.03.1
    20229,174.03.2
    Ad costs:

    Worldwide "advertising and promotional expenses."

    2022, 2021, 2020, 2019, 2018 and 2017 figures are implied from 10-K filings. Those filings also showed rounded "advertising and promotional expenses" of:

    2022: $9.2 billion.
    2021: $7.9 billion.
    2020: $5.4 billion.
    2019: $6.8 billion.
    2018: $6.4 billion.
    2017: $5.1 billion.

    2013: Restated from $2.848 billion to exclude Motorola.
    2012: Restated from $2.332 billion to exclude Motorola.

    2001: Advertising expenses excluding warrant amortization expense.

    Ad spending as percent of sales:

    Worldwide "advertising and promotional expenses" as percent of "revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific161.7183.9-12.1
    Europe714.5718.6-0.6
    Latin America0.0NANA
    Canada31.9NANA
      Subtotal media outside the U.S.908.2902.60.6
      U.S. media spending1,385.51,527.2-9.3
      Worldwide measured media$2,293.7$2,429.7-5.6
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Alphabet (Google) (Nasdaq: GOOG)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$282,836$257,6379.8
    Earnings59,97276,033-21.1
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.134,814117,85414.4
    Europe, Middle East, Africa82,06279,1073.7
    Asia, Pacific47,02446,1232.0
    Other Americas16,97614,40417.9
    Hedging gains1,960149NA
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Google253,528237,5296.7
    Google cloud26,28019,20636.8
    Hedging gains (losses)1,960149NA
    Other Bets1,06875341.8
    Connections
    Alphabet (Google)
    Ticker: Nasdaq GOOG
    1600 Amphitheatre Parkway, Mountain View, Calif. 94043/Phone: (650) 253-0000.
    URL: https://www.abc.xyz
    Facebook: https://www.facebook.com/google
    X (formerly Twitter): @Google
    Divisions, key executives and agencies

Amazon

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$20,600$16,90021.9
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Amazon ranked No. 1 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Amazon to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    19950.05.9
    19963.421.6
    199721.214.3
    199854.08.9
    1999166.010.1
    2000172.06.2
    2001125.04.0
    2002114.02.9
    2003109.02.1
    2004141.02.0
    2005168.02.0
    2006226.02.1
    2007306.02.1
    2008420.02.2
    2009593.02.4
    2010890.02.6
    20111,400.02.9
    20122,000.03.3
    20132,400.03.2
    20143,300.03.7
    20153,800.03.6
    20165,000.03.7
    20176,300.03.5
    20188,200.03.5
    201911,000.03.9
    202010,900.02.8
    202116,900.03.6
    202220,600.04.0
    Ad costs:

    Stated worldwide "advertising and other promotional costs." (Figures for 1995 through 1998 are "advertising expense.")

    Ad spending as percent of sales:

    Worldwide "advertising and other promotional costs" as percent of "net sales." (Figures for 1995 through 1998 are "advertising expense" as percent of "net sales.")
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa5.60.7688.3
    Asia and Pacific1,087.8901.420.7
    Europe1,848.82,028.1-8.8
    Latin America119.6114.64.4
    Canada69.469.30.1
      Subtotal media outside the U.S.3,131.33,114.10.6
      U.S. media spending6,912.35,442.127.0
      Worldwide measured media$10,043.7$8,556.317.4
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Amazon (Nasdaq: AMZN)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$513,983$469,8229.4
    Earnings-2,72233,364NA
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.356,113314,00613.4
    Rest of world69,80263,5059.9
    Germany33,59837,326-10.0
    U.K.30,07431,914-5.8
    Japan24,39623,0715.7
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    North America315,880279,83312.9
    International118,007127,787-7.7
    AWS80,09662,20228.8
    Connections
    Amazon
    Ticker: Nasdaq AMZN
    410 Terry Ave. N, Seattle, Wash. 98109/Phone: (206) 266-1000.
    URL: https://www.amazon.com
    Facebook: https://www.facebook.com/amazon
    X (formerly Twitter): @amazon
    Divisions, key executives and agencies

American Express Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$5,458$5,2913.2
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    American Express Co. ranked No. 6 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on American Express Co. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20072,562.09.3
    20082,430.08.6
    20092,010.08.3
    20103,147.011.4
    20112,996.010.0
    20122,890.09.2
    20132,939.08.9
    20143,216.09.4
    20153,109.09.5
    20166,249.017.6
    20175,722.015.5
    20186,477.016.1
    20197,125.016.4
    20203,696.010.2
    20215,291.012.5
    20225,458.010.3
    Ad costs:

    Stated worldwide "marketing" costs (2020 and after). Stated worldwide "marketing and business development" costs (2016 through 2019). Stated worldwide "marketing and promotion" costs (2015 and earlier).

    2014: Restated from $3.320 billion.
    2013: Restated from $3.043 billion.
    2010: Restated.
    2009: Restated.

    Ad spending as percent of sales:

    Worldwide "marketing" costs as percent of "total revenues net of interest expense" (2020 and after). Worldwide "marketing and business development" costs as percent of "total revenues net of interest expense" (2016 through 2019). Worldwide "marketing and promotion" costs as percent of "total revenues net of interest expense" (2015 and earlier).
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa1.00.0NA
    Asia and Pacific8.912.4-27.9
    Europe71.4100.0-28.7
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.81.2112.4-27.7
      U.S. media spending425.7410.73.6
      Worldwide measured media$506.9$523.1-3.1
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    American Express Co. (NYSE: AXP)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$52,862$42,38024.7
    Earnings7,5148,060-6.8
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.41,39633,10325.1
    Europe, Middle East, Africa4,8713,64333.7
    Japan, Asia Pacific, Australia3,8353,41812.2
    Latin America, Canada, Caribbean2,9172,23830.3
    Other/unallocated-157-22NA
    Connections
    American Express Co.
    Ticker: NYSE AXP
    200 Vesey St., New York, N.Y. 10285/Phone: (212) 640-2000.
    URL: https://www.americanexpress.com
    Facebook: https://www.facebook.com/americanexpressus
    X (formerly Twitter): @AmericanExpress
    Divisions, key executives and agencies

Anheuser-Busch InBev

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$5,547$5,973-7.1
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Excludes SABMiller (acquired in October 2016).
    Anheuser-Busch InBev ranked No. 39 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Anheuser-Busch InBev to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20104,712.013.0
    20115,133.013.1
    20125,254.013.2
    20135,958.013.8
    20147,036.015.0
    20156,913.015.9
    20167,745.017.0
    20178,265.015.1
    20187,774.014.7
    20197,348.014.0
    20206,861.014.6
    20217,292.013.4
    20226,752.011.7
    Ad costs:

    Stated worldwide sales and marketing expenses.

    2018: Restated in 2020 from $7.883 billion.
    2017: Restated in 2020 from $8.382 billion.
    2012: Restated in 2014 from $5.258 billion.
    2011: Restated in 2014 from $5.143 billion.

    Ad spending as percent of sales:

    Worldwide "sales and marketing expenses" as percent of "revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa32.126.620.5
    Asia and Pacific12.519.9-37.2
    Europe148.8124.919.2
    Latin America172.0116.348.0
    Canada0.0NANA
      Subtotal media outside the U.S.365.4287.627.0
      U.S. media spending350.7422.1-16.9
      Worldwide measured media$716.1$709.70.9
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Anheuser-Busch InBev (NYSE: BUD)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$57,786$54,3046.4
    Earnings5,9694,67027.8
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    North America16,56616,2571.9
    Middle Americas14,18012,54113.1
    South America11,5999,49422.2
    Europe, Middle East, Africa8,1208,0321.1
    Asia Pacific6,5326,848-4.6
    Global export and holding companies7901,133-30.3
    Connections
    Anheuser-Busch InBev
    Ticker: NYSE BUD
    Brouwerijplein 1, Leuven, Belgium 3000/Phone: 32 16 27 61 11.
    URL: https://www.ab-inbev.com
    Facebook: https://www.facebook.com/abinbev
    X (formerly Twitter): @AnheuserBusch
    Divisions, key executives and agencies

Apple

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 9/24/2022Year ended 9/25/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,916$1,67814.2
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Apple ranked No. 57 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Apple to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    19792.04.2
    19804.53.8
    198118.85.6
    198245.67.8
    198377.87.9
    1984179.711.9
    1985187.59.8
    1986157.88.3
    1987222.48.4
    198897.12.4
    198991.21.7
    199090.91.6
    1991111.31.8
    1992134.11.9
    1993153.41.9
    1994158.21.7
    1995205.01.9
    1996183.01.9
    1997143.02.0
    1998152.02.6
    1999208.03.4
    2000281.03.5
    2001261.04.9
    2002209.03.6
    2003193.03.1
    2004206.02.5
    2005287.02.1
    2006338.01.7
    2007467.01.9
    2008486.01.3
    2009501.01.2
    2010691.01.1
    2011933.00.9
    20121,000.00.6
    20131,100.00.6
    20141,200.00.7
    20151,800.00.8
    20161,522.50.7
    20171,402.20.6
    20181,392.40.5
    20191,448.10.6
    20201,520.50.6
    Fiscal years ended September.

    Sales:

    2009: Restated.
    2008: Restated.
    2007: Restated.

    Ad costs:

    Stated worldwide advertising expenses (1979-2015). Estimated worldwide advertising expenses (starting 2016).

    1988: Restated.

    Ad spending as percent of sales:

    Stated worldwide advertising spending as percent of stated net sales (1979-2015). Estimated worldwide advertising spending as percent of stated net sales (starting 2016).
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.71.3-50.0
    Asia and Pacific316.2276.814.2
    Europe448.1496.9-9.8
    Latin America18.2NANA
    Canada0.0NANA
      Subtotal media outside the U.S.783.1775.01.0
      U.S. media spending1,317.81,405.4-6.2
      Worldwide measured media$2,100.9$2,180.4-3.6
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Apple (Nasdaq: AAPL)
    WorldwideYear ended 9/24/2022Year ended 9/25/2021% chg
    Sales$394,328$365,8177.8
    Earnings99,80394,6805.4
    GEOGRAPHIC SALES (year ended 9/24/2022)
    Region ($ in millions)Year ended 9/24/2022Year ended 9/25/2021% chg
    Other countries172,269163,6485.3
    U.S.147,859133,80310.5
    China74,20068,3668.5
    DIVISION SALES (year ended 9/24/2022)
    Division or segment sales ($ in millions)Year ended 9/24/2022Year ended 9/25/2021% chg
    iPhone205,489191,9737.0
    Services78,12968,42514.2
    Wearables, Home and Accessories41,24138,3677.5
    Mac40,17735,19014.2
    iPad29,29231,862-8.1
    Connections
    Apple
    Ticker: Nasdaq AAPL
    1 Apple Park Way, Cupertino, Calif. 95014/Phone: (408) 996-1010.
    URL: https://www.apple.com
    Divisions, key executives and agencies

AstraZeneca

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,353$1,21011.8
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.0.0NANA
      U.S. media spending250.0185.334.9
      Worldwide measured media$250.0$185.334.9
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    AstraZeneca (NYSE: AZN)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$44,351$37,41718.5
    Earnings3,293115NA
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.17,27812,04743.4
    Asia, Africa and Australia12,70612,3233.1
    Continental Europe8,9097,82713.8
    U.K.3,1173,245-3.9
    Rest of Americas2,3411,97518.5
    Connections
    AstraZeneca
    Ticker: NYSE AZN
    1 Francis Crick Ave., Cambridge Biomedical Campus, Cambridge, U.K. CB2 0AA/Phone: 44 20 3749 5000.
    URL: http://www.astrazeneca.com
    Facebook: https://www.facebook.com/astrazenecauscommunityconnections
    X (formerly Twitter): @AstraZeneca
    Divisions, key executives and agencies

AT&T

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,462$2,662-7.5
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    AT&T ranked No. 18 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on AT&T to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20073,430.02.9
    20083,050.02.5
    20092,787.02.3
    20102,982.02.4
    20113,135.02.5
    20122,910.02.3
    20133,268.02.5
    20143,272.02.5
    20153,632.02.5
    20163,768.02.3
    20173,772.02.3
    20185,100.03.0
    20196,121.03.4
    20202,705.01.9
    20212,732.02.0
    20222,462.02.0
    AT&T on April 8, 2022, spun off its WarnerMedia business segment in a transaction with Discovery (now Warner Bros. Discovery).

    AT&T July 31, 2021, spun off DirecTV into new company controlled by TPG Capital that is called DirecTV Entertainment Holdings.

    Ad costs:

    Stated worldwide"advertising expense."

    2021: Restated in 2023 from $6.316 billion to factor out WarnerMedia.
    2020: Restated in 2023 from $5.253 billion to factor out WarnerMedia.
    2011: Restated.
    2010: Restated.

    In its 10-K for year ended December 2012, AT&T said it had 2011 worldwide ad expense of $3.135 billion. That was $776 million higher than what AT&T had previously disclosed as its 2011 ad expense in its 10-K for year ended December 2011; in that earlier 10-K, AT&T said it had 2011 ad expense of $2.359 billion. A spokeswoman for AT&T offered this explanation: "In Note 14 of our 2012 annual report, we updated our 2011 advertising expense to reflect a correction; this did not impact any of our financial results for 2011." In its 10-Ks for years ended December 2012 and December 2011, AT&T said it had 2010 worldwide ad expenses of $2.982 billion. In its 10-K for year ended December 2010, AT&T said it had 2010 worldwide ad expenses of $2.989 billion.

    Ad spending as percent of sales:

    Worldwide "advertising expense" as percent of "operating revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.0.0NANA
      U.S. media spending1,057.81,064.0-0.6
      Worldwide measured media$1,057.8$1,064.0-0.6
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    AT&T (NYSE: T)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$120,741$134,038-9.9
    Earnings-8,72719,874NA
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.116,006129,157-10.2
    Mexico3,2102,82413.7
    Asia/Pacific Rim592747-20.7
    Europe584907-35.6
    All other Latin America217251-13.5
    Other132152-13.2
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Communications117,067114,7302.0
    Latin America3,1442,74714.5
    Held-for-sale and other reclassificationsNANA
    CorporateNANA
    VideoNANA
    EliminationsNANA
    Connections
    AT&T
    Ticker: NYSE T
    208 S. Akard St., Dallas, Texas 75202/Phone: (210) 821-4105.
    URL: https://www.att.com
    Facebook: https://www.facebook.com/att
    X (formerly Twitter): @ATT
    Divisions, key executives and agencies

Baidu

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,519$1,891-19.6
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    201031.92.7
    201158.42.6
    2012102.92.9
    2013340.96.6
    2014802.610.1
    20151,577.114.8
    20161,165.811.0
    2017680.95.4
    20181,529.59.9
    20191,520.89.8
    20201,217.77.8
    20211,890.89.8
    20221,519.48.2
    Ad costs:

    Stated worldwide "advertising and promotional expenses" converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    2022: 10,200 million renminbi.
    2021: 12,200 million renminbi.
    2020: 8,400 million renminbi.
    2019: 10,500 million renminbi.
    2018: 10,100 million renminbi.
    2017: 4,600 million renminbi.
    2016: 7,740 million renminbi.
    2015: 9,800 million renminbi.
    2014: 4,930 million renminbi.
    2013: 2,110 million renminbi.

    Ad spending as percent of sales:

    Stated worldwide "advertising and promotional expenses" as percent of "total revenues."
    SALES AND EARNINGS ($ in millions from public documents)
    Baidu (Nasdaq: BIDU)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$18,423$19,295-4.5
    Earnings1,1261,585-29.0
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Baidu Core14,21614,749-3.6
    iQIYI4,3204,735-8.8
    Intersegment eliminaitons-112-190NA
    Connections
    Baidu
    Ticker: Nasdaq BIDU
    Baidu Campus, No. 10 Shangdi 10th St., Haidian District, Beijing, China 100085/Phone: 86 10 5992 8888.
    URL: https://ir.baidu.com
    X (formerly Twitter): @Baidu_Inc
    Divisions, key executives and agencies

Bank of America Corp.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,825$1,939-5.9
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Marketing expenses.
    Bank of America Corp. ranked No. 31 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Bank of America Corp. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20072,356.03.5
    20082,368.03.3
    20091,933.01.6
    20101,963.01.8
    20112,203.02.4
    20121,873.02.2
    20131,834.02.1
    20141,829.02.1
    20151,811.02.2
    20161,703.02.0
    20171,746.02.0
    20181,674.01.8
    20191,934.02.1
    20201,701.02.0
    20211,939.02.2
    20221,825.01.9
    Ad costs:

    Stated worldwide "marketing" expense.

    Ad spending as percent of sales:

    Worldwide "marketing" expense as percent of "total revenue, net of interest expense."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.0.0NANA
      U.S. media spending542.4293.784.7
      Worldwide measured media$542.4$293.784.7
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Bank of America Corp. (NYSE: BAC)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$94,950$89,1136.6
    Earnings26,01530,557-14.9
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.82,89078,0126.3
    Europe, Middle East and Africa6,0445,42311.5
    Asia4,5974,4393.6
    Latin America and the Caribbean1,4191,23914.5
    Connections
    Bank of America Corp.
    Ticker: NYSE BAC
    100 N. Tryon St., Charlotte, N.C. 28255/Phone: (800) 432-1000.
    URL: https://www.bankofamerica.com
    Facebook: https://www.facebook.com/bankofamerica
    Divisions, key executives and agencies

Bayer

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,498$1,560-4.0
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa5.39.3-42.7
    Asia and Pacific35.542.7-16.9
    Europe412.2507.7-18.8
    Latin America61.932.590.7
    Canada0.0NANA
      Subtotal media outside the U.S.514.8592.1-13.0
      U.S. media spending323.0285.213.2
      Worldwide measured media$837.8$877.3-4.5
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Bayer (ETR: BAYN)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$53,493$52,1642.5
    Earnings4,3751,183269.7
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    North America18,52517,6944.7
    Europe, Middle East, Africa15,21216,151-5.8
    Asia/Pacific9,96410,472-4.8
    Latin America9,7927,84824.8
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Crop Science26,53523,91211.0
    Pharmaceuticals20,29721,713-6.5
    Consumer health6,4106,2642.3
    Other segments229240-4.8
    Enabling and consolidation2234-35.5
    Connections
    Bayer
    Ticker: ETR BAYN
    Kaiser-Wilhelm-Allee-1, Leverkusen, Germany 51373/Phone: 49 214 30 1.
    URL: https://www.bayer.com
    Facebook: https://www.facebook.com/bayer
    X (formerly Twitter): @Bayer
    Divisions, key executives and agencies

Berkshire Hathaway

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,344$1,723-22.0
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Figures reflect estimated total U.S. ad spending.
    Berkshire Hathaway ranked No. 40 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Berkshire Hathaway to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe70.474.1-5.0
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.70.474.1-5.0
      U.S. media spending2,065.43,123.5-33.9
      Worldwide measured media$2,135.8$3,197.6-33.2
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Berkshire Hathaway (NYSE: BRK.B)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$302,089$276,2039.4
    Earnings-25,38390,011NA
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Insurance groupNA75,140NA
    Service and retailingNA34,832NA
    McLane Co.NA49,450NA
    Berkshire Hathaway EnergyNA24,987NA
    ManufacturingNA68,730NA
    Corporate, eliminations and otherNA-327NA
    BNSFNA23,282NA
    Connections
    Berkshire Hathaway
    Ticker: NYSE BRK.B
    3555 Farnam St., Omaha, Neb. 68131/Phone: (402) 346-1400.
    URL: https://www.berkshirehathaway.com
    Divisions, key executives and agencies

BMW Group

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$3,273$3,1593.6
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa2.33.2-26.6
    Asia and Pacific22.518.819.3
    Europe511.3773.7-33.9
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.536.1795.7-32.6
      U.S. media spending98.980.223.3
      Worldwide measured media$635.0$876.0-27.5
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    BMW Group (ETR: BMW)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$150,351$131,63614.2
    Earnings19,59114,74832.8
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Rest of EuropeNA38,956NA
    Rest of AsiaNA12,869NA
    U.S.NA25,468NA
    Rest of AmericasNA4,522NA
    Other regionsNA3,032NA
    ChinaNA29,978NA
    GermanyNA16,811NA
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Other entitiesNA6NA
    MotorcyclesNA3,252NA
    AutomotiveNA112,983NA
    EliminationsNA-23,498NA
    Financial servicesNA38,894NA
    Connections
    BMW Group
    Ticker: ETR BMW
    Petuelring 130, Munich, Germany 80788/Phone: 49 89 382 0.
    URL: https://www.bmwgroup.com
    Facebook: https://www.facebook.com/bmwgroup
    X (formerly Twitter): @BMWGroup
    Divisions, key executives and agencies

Booking Holdings

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$5,993$3,80157.7
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Booking Holdings ranked No. 26 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Booking Holdings to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20121,309.124.9
    20131,926.128.4
    20142,591.530.7
    20153,011.932.7
    20163,806.335.4
    20174,596.036.2
    20184,956.034.1
    20194,967.033.0
    20202,179.032.1
    20213,801.034.7
    20225,993.035.1
    Ad costs:

    Booking Holdings in first quarter 2018 changed its "performance advertising" bucket to "performance marketing" and changed its "brand advertising" bucket to "brand marketing." The 10-K for year ended December 2018 restated figures for 2017 and 2016 to correspond to the revised buckets.

    2020 and after: Stated worldwide "marketing" expenses.
    2016 through 2019: Stated worldwide "marketing" expenses (consisting of stated "performance marketing" expenses plus stated "brand marketing" expenses).
    2014 and 2015: Stated worldwide "advertising" expenses (consisting of stated "performance advertising" expenses plus stated "brand advertising" expenses).
    Before 2014: Stated worldwide "advertising" expenses (consisting of stated "online advertising" expenses plus stated "offline advertising" expenses).

    Stated ad expenses include OpenTable starting with its July 24, 2014, acquisition; and Kayak starting with its May 21, 2013, acquisition.

    Ad spending as percent of sales:

    2016 and after: Worldwide "marketing" expenses as percent of "total revenues."
    2015 and before: Worldwide "advertising" expenses as percent of "total revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific9.61.0861.7
    Europe136.2109.624.2
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.145.8110.631.8
      U.S. media spending1,749.41,343.030.3
      Worldwide measured media$1,895.2$1,453.630.4
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Booking Holdings (Nasdaq: BKNG)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$17,090$10,95856.0
    Earnings3,0581,165162.5
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Netherlands13,4288,67854.7
    U.S.2,2051,43453.8
    Other1,45784672.2
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Agency revenue9,0036,66335.1
    Merchant revenue7,1933,69694.6
    Advertising and other revenue89459949.2
    Connections
    Booking Holdings
    Ticker: Nasdaq BKNG
    800 Connecticut Ave., Norwalk, Conn. 06854/Phone: (203) 299-8000.
    URL: https://www.bookingholdings.com
    X (formerly Twitter): @BookingHoldings
    Divisions, key executives and agencies

Bristol-Myers Squibb Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,300$1,3000.0
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Bristol-Myers Squibb Co. ranked No. 47 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Bristol-Myers Squibb Co. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20051,464.07.9
    20061,304.08.0
    20071,097.07.0
    20081,181.06.7
    20091,136.06.0
    2010977.05.0
    2011957.04.5
    2012797.04.5
    2013855.05.2
    2014734.04.6
    2015825.05.0
    2016789.04.1
    2017740.03.6
    2018672.03.0
    2019633.02.4
    2020990.02.3
    20211,300.02.8
    20221,300.02.8
    Ad costs:

    Stated worldwide "advertising and product promotion costs."

    2008: Restated.
    2007: Restated.
    2006: Restated

    Ad spending as percent of sales:

    Worldwide "advertising and product promotion costs" as percent of "total revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific65.052.324.3
    Europe0.0NANA
    Latin America2.72.038.4
    Canada0.0NANA
      Subtotal media outside the U.S.67.854.324.8
      U.S. media spending161.9183.0-11.5
      Worldwide measured media$229.7$237.3-3.2
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Bristol-Myers Squibb Co. (NYSE: BMY)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$46,159$46,385-0.5
    Earnings6,3276,994-9.5
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.31,82829,2148.9
    Rest of world13,49716,319-17.3
    Other834852-2.1
    Connections
    Bristol-Myers Squibb Co.
    Ticker: NYSE BMY
    Route 206 and Province Line Road, Princeton, N.J. 08543/Phone: .
    URL: https://www.bms.com
    Facebook: https://www.facebook.com/bristolmyerssquibb
    X (formerly Twitter): @bmsnews
    Divisions, key executives and agencies

Capital One Financial Corp.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$4,017$2,87139.9
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Marketing expenses.
    Capital One Financial Corp. ranked No. 7 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Capital One Financial Corp. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20061,444.311.9
    20071,347.89.2
    20081,118.28.0
    2009588.04.5
    2010958.05.9
    20111,337.08.2
    20121,364.06.4
    20131,373.06.1
    20141,561.07.0
    20151,744.07.4
    20161,811.07.1
    20171,670.06.1
    20182,174.07.7
    20192,274.08.0
    20201,610.05.6
    20212,871.09.4
    20224,017.011.7
    Ad costs:

    Stated worldwide "marketing" expense.

    Ad spending as percent of sales:

    "Marketing" expense as percent of "total net revenue" ("net interest income" plus "non-interest income").
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe17.713.432.4
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.17.713.432.4
      U.S. media spending1,295.11,145.913.0
      Worldwide measured media$1,312.8$1,159.313.2
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Capital One Financial Corp. (NYSE: COF)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$34,250$30,43512.5
    Earnings7,04411,965-41.1
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Credit card22,35518,88018.4
    Commercial banking3,5909,002-60.1
    Consumer banking3,5903,3018.8
    Other-1,129-748NA
    Connections
    Capital One Financial Corp.
    Ticker: NYSE COF
    1680 Capital One Drive, McLean, Va. 22102/Phone: (703) 720-1000.
    URL: https://www.capitalone.com
    Facebook: https://www.facebook.com/capitalone
    X (formerly Twitter): @CapitalOne
    Divisions, key executives and agencies

Chanel

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,052$1,79514.3
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20161,272.014.7
    20171,512.115.3
    20181,652.614.9
    20191,769.614.4
    20201,359.613.5
    20211,795.011.5
    20222,051.611.9
    Ad costs:

    "Advertising, promotion and demonstration" expense.

    Ad spending as percent of sales:

    Worldwide "advertising, promotion and demonstration" expense as percent of "revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific49.419.4155.0
    Europe175.2160.59.2
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.224.6179.924.9
      U.S. media spending188.0166.013.2
      Worldwide measured media$412.6$345.919.3
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$17,224$15,63910.1
    Earnings4,5964,02614.2
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Asia Pacific8,6458,0687.2
    Europe4,7204,04216.8
    Americas3,8593,5299.4
    Connections
    Chanel
    1 Bruton St., London, U.K. W1J6TL.
    URL: https://www.chanel.com
    Facebook: https://www.facebook.com/chanel
    X (formerly Twitter): @CHANEL
    Divisions, key executives and agencies

Charter Communications

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$3,339$3,0718.7
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Pro forma spending including Time Warner Cable and Bright House Networks (acquired in May 2016).
    Charter Communications ranked No. 10 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Charter Communications to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2010396.05.6
    2011387.05.4
    2012431.05.7
    2013557.06.8
    2014617.06.8
    2015629.06.4
    20162,136.07.4
    20173,036.07.3
    20183,042.07.0
    20193,044.06.7
    20203,031.06.3
    20213,071.05.9
    20223,339.06.2
    Ad costs:

    Stated marketing costs; includes Time Warner Cable and Bright House Networks starting May 18, 2016.

    2017: Restated from $2.420 billion.
    2016: Restated from $1.707 billion and $1.699 billion.
    2015: Restated from $628 million.

    Ad spending as percent of sales:

    Stated marketing costs as percent of revenue.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.0.0NANA
      U.S. media spending457.2505.2-9.5
      Worldwide measured media$457.2$505.2-9.5
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Charter Communications (Nasdaq: CHTR)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$54,022$51,6824.5
    Earnings5,0554,6548.6
    Connections
    Charter Communications
    Ticker: Nasdaq CHTR
    400 Washington Blvd., Stamford, Conn. 06902/Phone: (203) 905-7800.
    URL: https://corporate.charter.com
    Facebook: https://www.facebook.com/spectrum
    X (formerly Twitter): @GetSpectrum
    Divisions, key executives and agencies

Citigroup

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,556$1,4904.4
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Advertising and marketing spending.
    Citigroup ranked No. 85 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Citigroup to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20052,533.03.0
    20062,471.02.9
    20072,729.03.5
    20082,188.04.2
    20091,415.01.8
    20101,645.01.9
    20112,268.02.9
    20122,164.03.1
    20131,888.02.5
    20141,844.02.4
    20151,547.02.0
    20161,632.02.3
    20171,608.02.2
    20181,545.02.1
    20191,516.02.0
    20201,217.01.6
    20211,490.02.1
    20221,556.02.1
    Ad costs:

    Stated worldwide "advertising and marketing" expense.

    2012: Restated in 2014 from $2.224 billion.
    2011: Restated in 2014 from $2.346 billion.
    2008: Year of global financial meltdown.

    Ad spending as percent of sales:

    Worldwide "advertising and marketing" expense as percent of "total revenues, net of interest expense."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific9.88.811.7
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.9.88.811.7
      U.S. media spending266.5300.2-11.2
      Worldwide measured media$276.3$309.0-10.6
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Citigroup (NYSE: C)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$75,338$71,8844.8
    Earnings14,84521,952-32.4
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    North America34,40034,4000.0
    Europe, Middle East, Africa14,90013,40011.2
    Asia14,70014,4002.1
    Latin America9,9009,2007.6
    Corporate/otherNA667NA
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Institutional clients group41,20643,887-6.1
    Corporate, otherNA667NA
    Global consumer bankingNA27,330NA
    Connections
    Citigroup
    Ticker: NYSE C
    388 Greenwich St., New York, N.Y. 10013/Phone: (212) 559-1000.
    URL: https://www.citigroup.com/citi
    Facebook: https://www.facebook.com/citi
    X (formerly Twitter): @Citi
    Divisions, key executives and agencies

Coca-Cola Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$4,319$4,0985.4
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Coca-Cola Co. ranked No. 33 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Coca-Cola Co. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20153,976.0NA
    20164,004.0NA
    20173,958.010.9
    20184,113.012.0
    20194,246.011.4
    20202,777.08.4
    20214,098.010.6
    20224,319.010.0
    Ad costs:

    Stated worldwide "advertising expenses."

    Ad spending as percent of sales:

    Worldwide "advertising expenses" as percent of "net operating revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa46.558.7-20.9
    Asia and Pacific585.4739.8-20.9
    Europe1,192.61,236.6-3.6
    Latin America130.3101.927.9
    Canada0.0NANA
      Subtotal media outside the U.S.1,954.72,137.0-8.5
      U.S. media spending645.4602.47.1
      Worldwide measured media$2,600.2$2,739.4-5.1
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Coca-Cola Co. (NYSE: KO)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$43,004$38,65511.3
    Earnings9,5429,771-2.3
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    International27,59125,6457.6
    U.S.15,41313,01018.5
    Connections
    Coca-Cola Co.
    Ticker: NYSE KO
    1 Coca-Cola Plaza, Atlanta, Ga. 30313/Phone: (404) 676-2121.
    URL: https://www.coca-colacompany.com
    Facebook: https://www.facebook.com/thecocacolaco
    X (formerly Twitter): @CocaColaCo
    Divisions, key executives and agencies

Colgate-Palmolive Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,997$2,021-1.2
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Colgate-Palmolive Co. ranked No. 93 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Colgate-Palmolive Co. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20051,194.010.5
    20061,320.010.8
    20071,546.011.2
    20081,650.010.8
    20091,534.010.0
    20101,656.010.6
    20111,734.010.4
    20121,792.010.5
    20131,891.010.9
    20141,784.010.3
    20151,491.09.3
    20161,428.09.4
    20171,573.010.2
    20181,590.010.2
    20191,694.010.8
    20201,948.011.8
    20212,021.011.6
    20221,997.011.1
    Ad costs:

    Stated worldwide advertising costs.

    Ad spending as percent of sales:

    Worldwide advertising spending as percent of sales.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa19.727.5-28.5
    Asia and Pacific95.2121.9-21.9
    Europe54.777.8-29.7
    Latin America118.975.956.6
    Canada0.0NANA
      Subtotal media outside the U.S.288.5303.1-4.8
      U.S. media spending137.4176.9-22.3
      Worldwide measured media$425.8$480.0-11.3
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Colgate-Palmolive Co. (NYSE: CL)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$17,967$17,4213.1
    Earnings1,7852,166-17.6
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Oral, personal and home care Latin America3,9823,6638.7
    Oral, personal and home care North America3,8163,6943.3
    Pet nutrition3,7133,31112.1
    Oral, personal and home care Asia2,8262,867-1.4
    Oral, personal and home care Europe/South Pacific2,5482,841-10.3
    Oral, personal and home care Africa/Eurasia1,0821,0453.5
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Oral, personal and home care14,25414,1101.0
    Pet nutrition3,7133,31112.1
    Connections
    Colgate-Palmolive Co.
    Ticker: NYSE CL
    300 Park Ave., New York, N.Y. 10022/Phone: (212) 310-2000.
    URL: https://www.colgatepalmolive.com
    Facebook: https://www.facebook.com/colgate
    X (formerly Twitter): @Colgate
    Divisions, key executives and agencies

Comcast Corp.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$8,506$7,69510.5
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Comcast Corp. ranked No. 2 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Comcast Corp. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20092,056.05.8
    20102,409.06.4
    20114,243.07.6
    20124,831.07.7
    20134,978.07.7
    20145,101.07.4
    20155,957.08.0
    20166,291.07.8
    20176,519.07.7
    20187,036.07.4
    20197,617.07.0
    20206,741.06.5
    20217,695.06.6
    20228,506.07.0
    Ad costs:

    Worldwide "marketing and promotion" costs. (Known as "advertising, marketing and promotion" prior to 2023.)

    2017: Restated from $6.317 billion.
    2016: Restated from $6.107 billion and $6.114 billion.
    2015: Restated from $5.963 billion and $5.943 billion,
    2014: Restated from$5.086 billion and $5.078 billion.
    2013: Restated from $4.969 billion.
    2012: Restated from $4.807 billion.
    2011: Restated from $4.231 billion (including about 11 months of NBC Universal costs; restated from $4.240 billion).
    2010: Not including NBC Universal; restated from $2.415 billion.

    Ad spending as percent of sales:

    Worldwide "marketing and promotion" spending as percent of "revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa1.20.860.7
    Asia and Pacific23.820.118.7
    Europe1,381.31,372.40.6
    Latin America2.03.5-43.1
    Canada0.0NANA
      Subtotal media outside the U.S.1,408.41,396.80.8
      U.S. media spending2,567.42,120.321.1
      Worldwide measured media$3,975.8$3,517.213.0
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Comcast Corp. (Nasdaq: CMCSA)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$121,427$116,3854.3
    Earnings5,37014,159-62.1
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.96,44190,9266.1
    U.K.13,38013,999-4.4
    Other11,60611,4601.3
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Cable communications66,31864,3283.1
    NBCUniversal39,20334,31914.2
    Sky17,94620,285-11.5
    Corporate86346187.2
    Eliminations-2,903-3,008NA
    Connections
    Comcast Corp.
    Ticker: Nasdaq CMCSA
    1 Comcast Center, Philadelphia, Pa. 19103-2838/Phone: (215) 286-1700.
    URL: https://corporate.comcast.com
    Facebook: https://www.facebook.com/comcast
    X (formerly Twitter): @comcast
    Divisions, key executives and agencies

Compagnie Financiere Richemont

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 3/31/2023Year ended 3/31/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,021$1,9245.1
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20161,228.610.5
    20171,294.310.0
    20181,549.79.6
    20191,573.19.9
    20201,202.07.8
    20211,924.09.9
    20222,021.49.7
    Fiscal years ended March 31.

    2022: Year ended March 31, 2023 (fiscal 2023).

    Ad costs:

    Stated "communication expenses" converted to dollars by Ad Age Datacenter at average exchange rates.

    2022: 1.940 billion euros.
    2021: 1.655 billion euros (restated from 1.865 billion euros).
    2020: 1.030 billion euros.
    2019: 1.415 billion euros.
    2018: 1.338 billion euros.
    2017: 1.106 billion euros.
    2016: 1.119 billion euros.

    Ad spending as percent of sales:

    "Communication expenses" as percent of "revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific5.95.310.8
    Europe95.885.811.6
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.101.691.111.5
      U.S. media spending206.4138.149.4
      Worldwide measured media$308.0$229.234.4
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Compagnie Financiere Richemont (SWX: CFR)
    WorldwideYear ended 3/31/2023Year ended 3/31/2022% chg
    Sales$20,790$19,4706.8
    Earnings3142,417-87.0
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 3/31/2023Year ended 3/31/2022% chg
    Asia Pacific8,2708,704-5.0
    Americas4,6544,10113.5
    Europe4,5543,89616.9
    Japan1,6841,30029.6
    Middle East and Africa1,6281,46910.8
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 3/31/2023Year ended 3/31/2022% chg
    OtherNA2,196NA
    Specialist watchmakersNA3,982NA
    Jewellery maisonsNA12,880NA
    Online distributionNANA
    Connections
    Compagnie Financiere Richemont
    Ticker: SWX CFR
    50, chemin de la Chenaie, CP30, Bellevue, Geneva, Switzerland 1293/Phone: 41 22 721 3500.
    URL: https://www.richemont.com
    Divisions, key executives and agencies

Coty

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 6/30/2023Year ended 6/30/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,480$1,4651.0
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Excludes ad spending for Procter & Gamble Co.'s beauty-products business, which merged into Coty in October 2016.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2009795.223.5
    2010806.423.2
    2011974.723.9
    20121,086.023.6
    20131,072.323.1
    20141,070.023.5
    20151,007.722.9
    2016967.622.2
    20171,883.324.6
    20181,836.526.8
    20191,595.525.4
    20201,343.728.5
    20211,029.422.2
    20221,465.127.6
    20231,479.626.6
    Fiscal years ended June 30.

    2023: Year ended June 30, 2023.

    Ad costs:

    Stated worldwide "advertising and promotional costs" (also called "advertising and consumer promotional costs").

    2019: Restated from $1,899,500,000.
    2018: Restated from $2,206,300,000.

    Included in advertising and promotional costs were costs for depreciation of marketing furniture and fixtures, such as product displays, of $103.0 million in fiscal 2023; $119.4 million in fiscal 2022; $130.3 million in fiscal 2021; $127.9 million in fiscal 2020; $120.4 million in fiscal 2019 (restated); $113.0 million in fiscal 2018 (restated); $107.4 million in fiscal 2017; $65.0 million in fiscal 2016; $69.8 million in fiscal 2015; $67.5 million in fiscal 2014; $65.2 million in fiscal 2013; $57.8 million in 2012; $49.3 million in 2011; $46.1 in 2010; and $44.9 million in 2009.

    Ad spending as percent of sales:

    Worldwide "advertising and promotional" spending as percent of "net revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific4.55.9-24.5
    Europe333.6392.4-15.0
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.338.0398.4-15.1
      U.S. media spending182.1134.235.7
      Worldwide measured media$520.1$532.5-2.3
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Coty (NYSE: COTY)
    WorldwideYear ended 6/30/2023Year ended 6/30/2022% chg
    Sales$5,554$5,3044.7
    Earnings50826095.8
    DIVISION SALES (year ended 6/30/2023)
    Division or segment sales ($ in millions)Year ended 6/30/2023Year ended 6/30/2022% chg
    Prestige3,4213,2684.7
    Consumer Beauty2,1342,0374.8
    Connections
    Coty
    Ticker: NYSE COTY
    350 Fifth Ave., New York, N.Y. 10118/Phone: (212) 389-7300.
    URL: https://www.coty.com
    Facebook: https://www.facebook.com/cotyinc
    X (formerly Twitter): @COTYInc
    Divisions, key executives and agencies

Deutsche Telekom (T-Mobile US)

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$3,130$3,157-0.8
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Marketing expenses including spending for majority-owned T-Mobile US.
    Deutsche Telekom (T-Mobile US) ranked No. 20 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Deutsche Telekom (T-Mobile US) to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2010582.02.7
    2010582.02.7
    2011711.03.4
    2011711.03.4
    2012949.04.8
    2012949.04.8
    20131,000.04.1
    20131,000.04.1
    20141,400.04.7
    20141,400.04.7
    20151,600.04.9
    20151,600.04.9
    20161,700.04.5
    20161,700.04.5
    20171,800.04.4
    20171,800.04.4
    20181,700.03.9
    20181,700.03.9
    20191,600.03.6
    20191,600.03.6
    20201,800.02.6
    20201,800.02.6
    20212,200.02.7
    20212,200.02.7
    20222,300.02.9
    20222,300.02.9
    Figures shows are for T-Mobile US.

    T-Mobile on April 1, 2020, acquired Sprint Corp.

    Deutsche Telekom controls T-Mobile US.

    Ad costs:

    Stated "advertising expenses."

    2013: Including MetroPCS starting May 1, 2013.
    2012: Excluding MetroPCS.
    2011: Excluding MetroPCS.
    2010: Excluding MetroPCS.

    Ad spending as percent of sales:

    Stated "advertising expenses" as percent of "total revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe838.5948.7-11.6
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.838.5948.7-11.6
      U.S. media spending1,343.51,503.3-10.6
      Worldwide measured media$2,182.0$2,452.0-11.0
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Deutsche Telekom (T-Mobile US) (Nasdaq: TMUS)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$120,624$127,579-5.5
    Earnings9,5746,93738.0
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.79,53180,221-0.9
    Germany25,83528,460-9.2
    Rest of Europe11,76413,365-12.0
    Systems solutions4,0184,448-9.7
    HQ2,5382,976-14.7
    Group development1,8013,745-51.9
    Intersegment-4,862-5,636NA
    Connections
    Deutsche Telekom (T-Mobile US)
    Ticker: Nasdaq TMUS
    Friedrich-Ebert-Allee 140, Bonn, Germany 53113/Phone: 49 228 181 88880.
    URL: https://www.telekom.com
    Divisions, key executives and agencies

Diageo

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 6/30/2023Year ended 6/30/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$3,674$3,6231.4
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Marketing costs.
    Diageo ranked No. 34 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Diageo to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20082,493.015.4
    20092,123.014.3
    20102,228.014.5
    20112,418.315.5
    20122,648.415.7
    20132,775.715.7
    20142,634.915.8
    20152,567.415.1
    20162,319.214.9
    20172,281.314.9
    20182,535.415.5
    20192,642.815.9
    20202,320.615.7
    20212,913.317.0
    20223,623.317.6
    20233,673.817.8
    Fiscal years ended June. 2023: Year ended June 2023.

    Ad costs:

    Stated "marketing" costs converted to U.S. dollars by Ad Age Datacenter at average exchange rates.

    2023: 3.051 billion pounds.
    2022: 2.721 billion pounds.
    2021: 2.163 billion pounds.
    2020: 1.841 billion pounds.
    2019: 2.042 billion pounds.
    2018: 1.882 billion pounds.
    2017: 1.798 billion pounds.
    2016: 1.562 billion pounds.
    2015: 1.629 billion pounds.
    2014: 1.620 billion pounds.
    2013: 1.769 billion pounds (restated).
    2012: 1.671 billion pounds (restated).
    2011: 1.520 billion pounds (restated).
    2010: 1.419 billion pounds.
    2009: 1.327 billion pounds.
    2008: 1.244 billion pounds (restated).

    Ad spending as percent of sales:

    Worldwide "marketing" costs as percent of "net sales."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa31.843.6-27.1
    Asia and Pacific18.218.3-0.7
    Europe206.9177.216.8
    Latin America37.825.548.5
    Canada0.0NANA
      Subtotal media outside the U.S.294.8264.611.4
      U.S. media spending396.7354.112.0
      Worldwide measured media$691.5$618.711.8
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Diageo (NYSE: DEO)
    WorldwideYear ended 6/30/2023Year ended 6/30/2022% chg
    Sales$20,606$20,5760.1
    Earnings4,4964,4451.2
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 6/30/2023Year ended 6/30/2022% chg
    North America8,1388,1160.3
    Europe and Turkey4,2984,2770.5
    Asia Pacific3,8533,8400.3
    Latin America and Caribbean2,1662,0316.7
    Africa2,0462,240-8.7
    Corporate and other1067247.4
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 6/30/2023Year ended 6/30/2022% chg
    Spirits22,88324,187-5.4
    Beer4,0404,165-3.0
    Ready to drink1,0831,174-7.8
    Other309365-15.2
    Excise duties-7,709-9,316NA
    Connections
    Diageo
    Ticker: NYSE DEO
    16 Great Marlborough St., London, U.K. W1F 7HS/Phone: 44 20 7947 9100.
    URL: https://www.diageo.com
    X (formerly Twitter): @Diageo_News
    Divisions, key executives and agencies

eBay

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,200$1,1009.1
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2009799.99.2
    2010808.48.8
    2011976.98.4
    20121,100.07.8
    2013844.010.2
    20141,000.011.4
    20151,000.011.6
    20161,200.012.9
    20171,300.013.1
    20181,100.012.7
    2019800.010.8
    20201,100.012.4
    20211,100.010.6
    20221,200.012.3
    Ad costs:

    Stated worldwide "advertising expense."

    2020: Restated in 2022 to $1.1 billion (from $1.2 billion).
    2019: Restated in 2022 to $800 million (from $1.0 billion); restated in 2020 to $1.0 billion (from $1.4 billion; following February 2020 sale of StubHub and 2021 sale of classifieds business).
    2019: Restated in 2020 to $1.0 billion (from $1.4 billion; following February 2020 sale of StubHub and 2021 sale of classifieds business).
    2018: Restated in 2020 to $1.1 billion ,(from $1.4 billion; following February 2020 sale of StubHub and 2021 sale of classifieds business).
    2014: Restated in 2016 to $1.0 billion (from$1.3 billion, including $272 million for PayPal Holdings, spun off in July 2015).
    2013: Restated in 2016 to $844 million (from $1.0 billion, including $176 million for PayPal Holdings, spun off in July 2015).
    2012: Stated $1.1 billion included $193 million for PayPal Holdings (spun off in July 2015).

    Ad spending as percent of sales:

    Worldwide "advertising expense" as percent of "net revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific21.624.1-10.3
    Europe252.9227.910.9
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.274.5252.18.9
      U.S. media spending273.6285.9-4.3
      Worldwide measured media$548.1$537.91.9
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    eBay (Nasdaq: EBAY)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$9,795$10,420-6.0
    Earnings-1,26913,608NA
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.4,8425,048-4.1
    Rest of world2,3512,2106.4
    U.K.1,5791,913-17.5
    Germany1,0231,249-18.1
    Connections
    eBay
    Ticker: Nasdaq EBAY
    2025 Hamilton Ave., San Jose, Calif. 95125/Phone: (408) 376-7400.
    URL: https://www.ebayinc.com
    Facebook: https://www.facebook.com/ebay
    X (formerly Twitter): @eBay
    Divisions, key executives and agencies

EssilorLuxottica

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,909$1,955-2.3
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    EssilorLuxottica ranked No. 72 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on EssilorLuxottica to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20171,268.76.9
    20181,317.46.9
    20191,384.27.1
    20201,212.17.4
    20211,815.37.7
    20221,909.37.4
    EssilorLuxottica formed by Oct. 1, 2018, merger of Essilor International and Luxottica Group.

    Ad costs:

    Stated worldwide "advertising and marketing" expenses converted to U.S. dollars at average exchange rates.

    2020: 1.156 billion euros (restated in 2022 from 1.149 billion euros).
    2018:Pro forma.
    2017: Pro forma.

    Ad spending as percent of sales:

    Worldwide "advertising and marketing" expenses as percent of "revenue."

    2018: Pro forma.
    2017: Pro forma.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific1.82.2-17.4
    Europe12.918.8-31.6
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.14.721.0-30.1
      U.S. media spending195.9179.09.4
      Worldwide measured media$210.6$200.05.3
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    EssilorLuxottica (EPA: EL)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$25,824$25,4401.5
    Earnings2,2691,71432.4
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    North America12,11611,6384.1
    Europe, Middle East, Africa9,2247,55722.1
    Asia Pacific2,9963,008-0.4
    Latin America1,4871,25218.7
    Connections
    EssilorLuxottica
    Ticker: EPA EL
    147 rue de Paris, Charenton-le-Pont, France 94220/Phone: 33 1 49 77 42 24.
    URL: https://www.essilorluxottica.com
    Facebook: https://www.facebook.com/essilorluxottica
    X (formerly Twitter): @EssiLux
    Divisions, key executives and agencies

Estee Lauder Cos.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 6/30/2023Year ended 6/30/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$3,711$3,877-4.3
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Estee Lauder Cos. ranked No. 67 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Estee Lauder Cos. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20061,514.023.4
    20071,641.023.3
    20081,836.023.2
    20091,693.023.1
    20101,819.023.3
    20112,161.024.5
    20122,418.024.9
    20132,541.025.0
    20142,618.123.9
    20152,558.623.7
    20162,607.323.2
    20172,689.022.7
    20183,287.024.0
    20193,440.023.1
    20203,398.023.8
    20213,710.022.9
    20223,877.021.9
    20233,711.023.3
    Fiscal years ended June. 2023: Fiscal 2023 ended June 2023.

    Ad costs:

    2017 and after: "Global net advertising, merchandising, sampling, promotion and product development expenses." Figures exclude the impact of purchase with purchase and gift with purchase promotions.

    Before 2017:Stated worldwide "advertising, merchandising, sampling, promotion and product development" expenses "excluding the impact of purchase with purchase and gift with purchase promotions."

    2013: Restated from $2.584 billion.
    2012: Restated from $2.459 billion.

    Ad spending as percent of sales:

    Global net advertising, merchandising, sampling, promotion and product development expenses as percent of "net sales."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe7.15.726.3
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.7.15.726.3
      U.S. media spending175.0189.4-7.6
      Worldwide measured media$182.2$195.1-6.6
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Estee Lauder Cos. (NYSE: EL)
    WorldwideYear ended 6/30/2023Year ended 6/30/2022% chg
    Sales$15,910$17,737-10.3
    Earnings1,0062,390-57.9
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 6/30/2023Year ended 6/30/2022% chg
    Europe, Middle East and Africa6,2257,681-19.0
    Asia Pacific5,1945,437-4.5
    Americas4,5184,623-2.3
    Returns/restructuring-27-4NA
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 6/30/2023Year ended 6/30/2022% chg
    Skin care8,2029,886-17.0
    Makeup4,5164,667-3.2
    Fragrance2,5122,5080.2
    Hair care6536313.5
    Other544910.2
    Returns/restructuring-27-4NA
    Connections
    Estee Lauder Cos.
    Ticker: NYSE EL
    767 Fifth Ave., New York, N.Y. 10153/Phone: (212) 572-4200.
    URL: https://www.elcompanies.com
    Facebook: https://www.facebook.com/esteelaudercompanies
    Divisions, key executives and agencies

Expedia Group

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$3,900$2,70044.4
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Expedia Group ranked No. 15 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Expedia Group to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2009622.022.7
    2010694.022.9
    2011797.023.1
    2012890.022.1
    20131,200.025.2
    20141,600.027.8
    20152,100.031.5
    20162,700.030.8
    20173,300.032.8
    20183,400.030.3
    20193,500.029.0
    20201,200.023.1
    20212,700.031.4
    20223,900.033.4
    Ad costs:

    Stated worldwide "advertising expense." Stated worldwide advertising expense consist of offline costs, including TV and radio advertising, and online advertising. Ad expenses include media and production costs.

    2012: Restated in 2014 from $870 million.
    2011: Restated in 2014 from $796 million.

    Ad spending as percent of sales:

    Stated worldwide "advertising expense" as percent of "revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe265.6238.711.3
    Latin America28.123.221.0
    Canada61.654.513.0
      Subtotal media outside the U.S.355.3316.512.3
      U.S. media spending2,042.11,330.953.4
      Worldwide measured media$2,397.4$1,647.445.5
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Expedia Group (Nasdaq: EXPE)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$11,667$8,59835.7
    Earnings352-269NA
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.7,9396,56920.9
    All other countries3,7282,02983.7
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Merchant7,7625,53740.2
    Agency2,9942,30729.8
    Advertising, media and other91175420.8
    Connections
    Expedia Group
    Ticker: Nasdaq EXPE
    1111 Expedia Group Way W, Seattle, Wash. 98119/Phone: (206) 481-7200.
    URL: https://www.expediagroup.com
    Facebook: https://www.facebook.com/expedia.group
    X (formerly Twitter): @ExpediaGroup
    Divisions, key executives and agencies

Flutter Entertainment

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,293$2,07510.5
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Flutter Entertainment ranked No. 45 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Flutter Entertainment to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2019593.821.7
    20201,271.822.5
    20212,074.525.0
    20222,293.324.1
    Ad costs:

    Stated worldwide "sales and marketing" costs converted to U.S. dollars at average exchange rates.

    Ad spending as percent of sales:

    Stated worldwide "sales and marketing" costs as percent of "total revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific46.445.12.8
    Europe149.2155.0-3.7
    Latin America26.02.01229.9
    Canada0.0NANA
      Subtotal media outside the U.S.221.5202.19.6
      U.S. media spending330.0252.830.5
      Worldwide measured media$551.5$454.921.2
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Flutter Entertainment (LSE: FLTR)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$9,521$8,30414.7
    Earnings-377-567NA
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.3,2231,91468.4
    U.K. and Ireland2,6532,838-6.5
    International2,0821,77217.5
    Australia1,5631,779-12.2
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Sports5,9265,19214.1
    Gaming3,5963,11215.6
    Connections
    Flutter Entertainment
    Ticker: LSE FLTR
    Belfield Office Park, Beech Hill Road, Clonskeagh, Dublin 4, Ireland D04 V972/Phone: 353 1 905 1000.
    URL: https://www.flutter.com
    X (formerly Twitter): @FlutterPLC
    Divisions, key executives and agencies

Ford Motor Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,200$3,100-29.0
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Ford Motor Co. ranked No. 37 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Ford Motor Co. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    19982,100.01.5
    19992,700.01.7
    20003,000.01.8
    20013,100.01.9
    20022,900.01.8
    20034,100.02.5
    20044,700.02.7
    20055,000.02.8
    20065,100.03.2
    20075,400.03.2
    20084,500.03.1
    20093,200.02.8
    20103,900.03.0
    20114,100.03.0
    20124,000.03.0
    20134,400.03.0
    20144,300.03.0
    20154,300.02.9
    20164,300.02.8
    20174,100.02.6
    20184,000.02.5
    20193,600.02.3
    20202,800.02.2
    20213,100.02.3
    20222,200.01.4
    Ad costs:

    Stated worldwide "advertising expenses" ("advertising costs").

    2009: Restated from $3.3 billion.
    2008: Restated from $4.6 billion.
    2004: Restated from $3.2 billion.
    2003: Restated from $2.7 billion.

    Ad spending as percent of sales:

    Worldwide "advertising expenses" as percent of "revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa6.910.4-33.7
    Asia and Pacific29.747.7-37.8
    Europe195.8575.5-66.0
    Latin America0.024.5-100.0
    Canada0.038.6-100.0
      Subtotal media outside the U.S.232.4696.7-66.6
      U.S. media spending378.5800.9-52.7
      Worldwide measured media$611.0$1,497.6-59.2
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Ford Motor Co. (NYSE: F)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$158,057$136,34115.9
    Earnings-1,98117,937NA
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.105,48187,01221.2
    All other23,48222,8922.6
    Canada12,59011,15312.9
    U.K.8,2207,6078.1
    Germany6,4716,2373.8
    Mexico1,8131,44025.9
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Automotive148,980126,15018.1
    Ford Credit8,97810,073-10.9
    Mobility99118-16.1
    Connections
    Ford Motor Co.
    Ticker: NYSE F
    1 American Road, Dearborn, Mich. 48126/Phone: (313) 322-3000.
    URL: https://www.corporate.ford.com
    Facebook: https://www.facebook.com/ford
    X (formerly Twitter): @Ford
    Divisions, key executives and agencies

General Motors Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$4,000$3,30021.2
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    General Motors Co. ranked No. 11 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on General Motors Co. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20104,742.03.5
    20115,209.03.5
    20125,372.03.5
    20135,500.03.5
    20145,200.03.3
    20154,400.03.2
    20164,600.03.1
    20174,300.03.0
    20184,000.02.7
    20193,700.02.7
    20202,700.02.2
    20213,300.02.6
    20224,000.02.6
    Sales:

    Worldwide sales (including automotive sales and GM Financial revenue).

    Ad costs:

    Stated worldwide "advertising and promotion" spending.

    2016: Restated in 2018 from $5.3 billion following 2017 divestiture of GM Europe.
    2015: Restated in 2018 from $5.1 billion following 2017 divestiture of GM Europe.

    Ad spending as percent of sales:

    Worldwide "advertising and promotion" spending as percent of "net sales and revenue" (including automotive sales and GM Financial revenue).
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific31.212.3154.0
    Europe0.0NANA
    Latin America66.242.555.7
    Canada53.446.514.7
      Subtotal media outside the U.S.150.7101.348.8
      U.S. media spending1,371.51,252.29.5
      Worldwide measured media$1,522.2$1,353.512.5
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    General Motors Co. (NYSE: GM)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$156,735$127,00423.4
    Earnings8,9159,837-9.4
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.NA104,483NA
    Non-U.S.NA22,521NA
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    GM North America128,378101,30826.7
    GM International15,42012,17226.7
    GM Financial12,76613,419-4.9
    Corporate17710470.2
    Cruise102106-3.8
    Eliminations-107-105NA
    Connections
    General Motors Co.
    Ticker: NYSE GM
    300 Renaissance Center, P.O. Box 300, Detroit, Mich. 48265/Phone: (313) 556-5000.
    URL: https://www.gm.com
    Facebook: https://www.facebook.com/generalmotors
    X (formerly Twitter): @GM
    Divisions, key executives and agencies

Haleon

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,507$2,670-6.1
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Haleon ranked No. 68 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Haleon to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20212,670.220.3
    20222,507.418.7
    Haleon was formed through a demerger from GSK on July 18, 2022.

    Ad costs:

    Worldwide "advertising and promotion" costs.

    2022: 2.026 billion pounds.
    2021: 1.941 billion pounds.
    2020: 2.013 billion pounds.
    2019: 1.772 billion pounds.

    Ad spending as percent of sales:

    Worldwide "advertising and promotion" expenses as percent of "revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa61.0101.8-40.1
    Asia and Pacific351.3419.1-16.2
    Europe1,273.21,234.43.1
    Latin America191.199.093.0
    Canada0.0NANA
      Subtotal media outside the U.S.1,876.61,854.31.2
      U.S. media spending506.7572.6-11.5
      Worldwide measured media$2,383.3$2,427.0-1.8
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Haleon (LON: HLN)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$13,438$13,1312.3
    Earnings1,3851,980-30.0
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Rest of world7,3157,1951.7
    U.S.4,5694,3844.2
    China1,1231,1021.9
    U.K.431450-4.3
    Connections
    Haleon
    Ticker: LON HLN
    Building 5, Floor 1, The Heights, Weybridge, Surrey, U.K. KT13 0NY.
    URL: https://www.haleon.com
    Facebook: https://www.facebook.com/people/Haleon/100083295823330
    X (formerly Twitter): @Haleon_health
    Divisions, key executives and agencies

Heineken

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,838$2,47414.7
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20153,060.213.4
    20163,139.713.6
    20172,861.711.7
    20182,946.711.1
    20192,947.611.0
    20202,332.910.4
    20212,474.49.5
    20222,838.19.4
    Ad costs:

    Stated worldwide "marketing and selling expenses" (formerly called "marketing, selling and distribution expenses").

    2021: 2.091 billion euros.
    2020: 2.044 billion euros.
    2019: 2.632 billion euros.
    2018: 2.494 billion euros.
    2017: 2.533 billion euros (restated).
    2016: 2.836 billion euros.
    2015: 2.755 billion euros.

    Ad spending as percent of sales:

    2017 and after: Stated worldwide "marketing and selling expenses" as percent of worldwide "net revenue."
    2015 and 2016: Stated worldwide "marketing and selling expenses" as percent of worldwide "revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa13.025.5-49.0
    Asia and Pacific26.322.914.9
    Europe461.5412.911.8
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.500.8461.38.6
      U.S. media spending111.3159.1-30.0
      Worldwide measured media$612.1$620.4-1.3
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Heineken (AMS: HEIO)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$30,278$25,96416.6
    Earnings2,8283,933-28.1
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Europe11,97911,2776.2
    Americas9,9328,55116.2
    Asia Pacific4,9053,27249.9
    Africa, ME, Eastern Europe4,2223,74412.8
    Eliminations-786-880NA
    Connections
    Heineken
    Ticker: AMS HEIO
    Tweede Weteringplantsoen 21, Amsterdam, Netherlands 1017 ZD/Phone: 31 20 523 92 39.
    URL: https://www.theheinekencompany.com
    Divisions, key executives and agencies

Henkel

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,361$2,564-7.9
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20145,517.725.3
    20155,118.525.5
    20165,131.424.8
    20175,508.724.3
    20185,479.823.3
    20195,534.624.6
    20206,137.127.9
    20216,136.925.8
    20226,309.926.7
    Ad costs:

    Worldwide "marketing, selling and distribution expenses" converted to U.S. dollars by Ad Age Datacenter at average exchange rates.

    Henkel's calendar 2022 financials explained this expense line: "In addition to marketing organization and distribution expenses, this item comprises, in particular, advertising, sales promotion and market research expenses. Also included here are the expenses of technical advisory services for customers, valuation allowances on trade accounts receivable, and amortization charges and impairment losses on trademarks and other rights."

    2022: 5.985 billion euros.
    2021: 5.186 billion euros.
    2020: 5.377 billion euros.
    2019: 4.942 billion euros.
    2018: 4.638 billion euros.
    2017: 4.876 billion euros.
    2016: 4.635 billion euros.
    2015: 4.608 billion euros.
    2014: 4.151 billion euros.

    Ad spending as percent of sales:

    Worldwide "marketing, selling and distribution expenses" as percent of worldwide "sales."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific46.654.3-14.2
    Europe1,115.91,007.310.8
    Latin America0.05.1-100.0
    Canada0.0NANA
      Subtotal media outside the U.S.1,162.51,066.79.0
      U.S. media spending78.069.811.7
      Worldwide measured media$1,240.4$1,136.59.1
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Henkel (ETR: HEN)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$23,613$23,745-0.6
    Earnings1,3211,928-31.5
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Western Europe6,3937,088-9.8
    North America6,3095,9506.0
    Asia Pacific4,0353,9931.1
    Eastern Europe3,6633,685-0.6
    Latin America1,6321,43313.9
    Africa/Middle East1,3411,429-6.2
    Corporate24016843.0
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Adhesives technologies11,85211,4093.9
    Laundry & home care7,5407,816-3.5
    Beauty care3,9804,352-8.6
    Corporate24016843.0
    Connections
    Henkel
    Ticker: ETR HEN
    Henkelstrasse 67, Duesseldorf, Germany 40589/Phone: 49 211 797 0.
    URL: https://www.henkel.com
    Facebook: https://www.facebook.com/henkel
    X (formerly Twitter): @Henkel
    Divisions, key executives and agencies

Honda Motor Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 3/31/2023Year ended 3/31/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,089$2,308-9.5
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Honda Motor Co. ranked No. 58 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Honda Motor Co. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.60.7-20.6
    Asia and Pacific470.5499.3-5.8
    Europe79.978.31.9
    Latin America0.70.7-2.3
    Canada0.0NANA
      Subtotal media outside the U.S.551.6579.1-4.8
      U.S. media spending424.2376.912.6
      Worldwide measured media$975.8$956.02.1
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Honda Motor Co. (NYSE: HMC)
    WorldwideYear ended 3/31/2023Year ended 3/31/2022% chg
    Sales$125,117$129,665-3.5
    Earnings5,6336,778-16.9
    GEOGRAPHIC SALES (year ended 3/31/2023)
    Region ($ in millions)Year ended 3/31/2023Year ended 3/31/2022% chg
    North America66,15167,885-2.6
    Asia30,10530,235-0.4
    Japan17,83120,979-15.0
    Other regions6,0305,19616.0
    Europe5,0005,370-6.9
    DIVISION SALES (year ended 3/31/2023)
    Division or segment sales ($ in millions)Year ended 3/31/2023Year ended 3/31/2022% chg
    Automobile78,39281,504-3.8
    Financial services business21,86025,132-13.0
    Motorcycles21,52619,47110.6
    Power product and other business3,3383,558-6.2
    Connections
    Honda Motor Co.
    Ticker: NYSE HMC
    2-1-1, Minami-Aoyama, Minato-ku, Tokyo, Japan 107-8556/Phone: 81 3 3423 1111.
    URL: https://www.honda.com
    URL: https://global.honda
    Facebook: https://www.facebook.com/honda
    X (formerly Twitter): @Honda
    Divisions, key executives and agencies

Hyundai Motor Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,411$2,2825.7
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Advertisements and sales promotion expenses.
    Hyundai Motor Co. ranked No. 75 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Hyundai Motor Co. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20131,920.22.4
    20141,950.42.3
    20151,843.92.3
    20161,920.52.4
    20172,189.72.6
    20182,100.82.4
    20192,194.22.4
    20201,905.22.2
    20212,282.02.2
    20222,411.02.2
    Converted to dollars.

    Ad costs:

    Stated worldwide "advertisements and sales promotion" expenses.

    2022: 3,103 billion won.
    2021: 2,610 billion won.
    2020: 2,241 billion won.
    2019: 2,551 billion won.
    2018: 2,309 billion won.
    2017: 2,460 billion won.
    2016: 2,233 billion won.
    2015: 2,072 billion won.
    2014: 2,053 billion won.
    2013: 2,087 billion won.
    2012: 2,164 billion won.
    2011: 2,205 billion won.
    2010: 2,047 billion won.

    Ad spending as percent of sales:

    Worldwide "advertisements and sales promotion" spending as percent of "sales."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa5.26.6-21.7
    Asia and Pacific336.0332.41.1
    Europe282.4386.9-27.0
    Latin America0.0NANA
    Canada33.738.4-12.5
      Subtotal media outside the U.S.657.2764.3-14.0
      U.S. media spending581.3485.619.7
      Worldwide measured media$1,238.6$1,249.9-0.9
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Hyundai Motor Co. (KRX: 005380)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$110,756$102,8417.7
    Earnings6,2044,97824.6
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    North America43,47135,63322.0
    South Korea34,75636,142-3.8
    Europe17,18718,808-8.6
    Asia12,1189,96021.7
    Other3,2242,29840.3
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Vehicle88,36882,3207.3
    Finance15,57114,6756.1
    Other6,8165,84616.6
    Connections
    Hyundai Motor Co.
    Ticker: KRX 005380
    12 Heolleung-ro, Seocho-gu, Seoul, South Korea 06797/Phone: 82 2 3464 1114.
    URL: https://www.hyundai.com
    Facebook: https://www.facebook.com/hyundaiworldwide
    X (formerly Twitter): @Hyundai_Global
    Divisions, key executives and agencies

IBM Corp.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,330$1,413-5.9
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20121,339.01.3
    20131,294.01.3
    20141,307.01.4
    20151,290.01.6
    20161,327.01.7
    20171,445.01.8
    20181,466.01.8
    20191,591.02.8
    20201,509.02.7
    20211,413.02.5
    20221,330.02.2
    Ad costs:

    Stated worldwide "advertising and promotional expense" (including media, agency and promotional expenses).

    2020: Restated from $1.542 billion in 2022.
    2019: Restated from $1.647 billion in 2022.

    Ad spending as percent of sales:

    Worldwide "advertising and promotional expense" as percent of "revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific119.8139.2-13.9
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.119.8139.2-13.9
      U.S. media spending291.6324.8-10.2
      Worldwide measured media$411.4$464.0-11.3
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    IBM Corp. (NYSE: IBM)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$60,530$57,3505.5
    Earnings1,6395,743-71.5
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Other29,98028,8104.1
    U.S.25,09822,8939.6
    Japan5,4535,648-3.5
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Software25,03723,4266.9
    Consulting19,10717,8447.1
    Infrastructure15,28814,1887.8
    Financing645774-16.7
    Other45340412.1
    Connections
    IBM Corp.
    Ticker: NYSE IBM
    1 New Orchard Road, Armonk, N.Y. 10504/Phone: (914) 499-1900.
    URL: https://www.ibm.com
    Facebook: https://www.facebook.com/ibm
    X (formerly Twitter): @IBM
    Divisions, key executives and agencies

Inner Mongolia Yili Industrial Group Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,189$1,95412.0
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Estimated advertising and promotion expenses.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2014753.28.5
    20151,175.412.1
    20161,149.912.6
    20171,214.712.1
    20181,659.013.8
    20191,599.212.2
    20201,594.411.4
    20211,954.411.4
    20222,189.311.9
    Ad costs:

    2016 and after: Stated "advertising expense" converted to U.S. dollars by Ad Age Datacenter at average exchange rates. 2015, 2014: Estimated worldwide advertising and promotion expenses derived from company's stated "A&P expense ratio" disclosures, converted to U.S. dollars by Ad Age Datacenter at average exchange rates.

    2022: 14.697 billion renminbi (stated).
    2021: 12.610 billion renminbi (stated).
    2020: 10.999 billion renminbi (stated).
    2019: 11.041 billion renminbi (stated).
    2018: 10.955 billion renminbi (stated).
    2017: 8.206 billion renminbi (stated).
    2016: 7.634 billion renminbi(stated).
    2015: 7.304 billion renminbi (estimated).
    2014: 4.627 billion renminbi (estimated).

    Ad spending as percent of sales:

    2016 and after: Stated "advertising expense" as percent of "total revenue." 2015, 2014: Estimated worldwide advertising and promotion expenses as percent of worldwide operating revenue.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific244.2227.37.4
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.244.2227.37.4
      U.S. media spending0.00.0-100.0
      Worldwide measured media$244.2$227.37.4
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Inner Mongolia Yili Industrial Group Co. (SHA: 600887)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$18,348$17,1417.0
    Earnings1,4051,3494.1
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Liquid milk12,65113,160-3.9
    Milk powder and milk products3,9122,51255.7
    Ice cream1,4251,11028.4
    Other products5928108.6
    Connections
    Inner Mongolia Yili Industrial Group Co.
    Ticker: SHA 600887
    No. 8 Jinshan Road, Jinshan Development Zone, Hohhot, China 010110/Phone: 86 400 816 9999.
    URL: http://www.yili.com
    Divisions, key executives and agencies

Inspire Brands

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,388$1,3433.4
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Inspire Brands ranked No. 41 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Inspire Brands to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    201322.45.6
    201422.45.5
    201524.55.6
    201623.45.5
    201715.83.7
    Fiscal years ended Aug. 31.

    Ad costs:

    Stated advertising and promotion spending for company-owned drive-ins.

    Ad spending as percent of sales:

    Advertising and promotion spending for company-owned drive-ins as percent of company drive-in sales.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.0.0NANA
      U.S. media spending935.7921.81.5
      Worldwide measured media$935.7$921.81.5
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    SalesNANANA
    EarningsNANANA
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Sonic Drive-InNA5,835NA
    Buffalo Wind WingsNA3,718NA
    Arby'sNA4,462NA
    Dunkin'NA10,416NA
    Jimmy John'sNA2,301NA
    BaskinNA686NA
    Connections
    Inspire Brands
    3 Glenlake Parkway NE, Atlanta, Ga. 30328/Phone: (678) 514-4100.
    URL: https://www.inspirebrands.com
    Facebook: https://www.facebook.com/inspirebrandsinc
    X (formerly Twitter): @InspireBrands
    Divisions, key executives and agencies

Intel Corp.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/25/2022Year ended 12/25/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,200$1,1009.1
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20002,000.05.9
    20011,600.06.0
    20021,700.06.4
    20031,800.06.0
    20042,100.06.1
    20052,600.06.7
    20062,320.06.6
    20071,900.05.0
    20081,860.04.9
    20091,390.04.0
    20101,800.04.1
    20112,100.03.9
    20122,000.03.7
    20131,900.03.6
    20141,800.03.2
    20151,800.03.3
    20161,800.03.0
    20171,400.02.2
    20181,200.01.7
    2019832.01.2
    2020763.01.0
    20211,100.01.4
    20221,200.01.9
    Fiscal years ended on last Saturday in December.

    Ad costs:

    Stated worldwide "advertising costs" (including direct-marketing costs).

    Ad spending as percent of sales:

    Stated worldwide "advertising costs" (including direct-marketing costs) as percent of "net revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.0.0NANA
      U.S. media spending56.446.920.3
      Worldwide measured media$56.4$46.920.3
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Intel Corp. (Nasdaq: INTC)
    WorldwideYear ended 12/25/2022Year ended 12/25/2021% chg
    Sales$63,054$79,024-20.2
    Earnings8,01419,868-59.7
    GEOGRAPHIC SALES (year ended 12/25/2022)
    Region ($ in millions)Year ended 12/25/2022Year ended 12/25/2021% chg
    TaiwanNANA
    China (including Hong Kong)NANA
    Other countriesNANA
    U.S.NANA
    SingaporeNANA
    DIVISION SALES (year ended 12/25/2022)
    Division or segment sales ($ in millions)Year ended 12/25/2022Year ended 12/25/2021% chg
    Data Center GroupNANA
    Programmable Solutions GroupNANA
    Client Computing GroupNANA
    Internet of ThingsNANA
    All otherNANA
    Non-Volatile Memory Solutions GroupNANA
    Connections
    Intel Corp.
    Ticker: Nasdaq INTC
    2200 Mission College Blvd., Santa Clara, Calif. 95054/Phone: (408) 765-8080.
    URL: http://www.intel.com
    Facebook: https://www.facebook.com/intel
    X (formerly Twitter): @intel
    Divisions, key executives and agencies

Intuit

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 7/31/2022Year ended 7/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,600$1,10045.5
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Intuit ranked No. 36 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Intuit to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2012150.03.9
    2013182.04.6
    2014171.04.0
    2015372.08.9
    2016394.08.4
    2017480.09.2
    2018615.010.2
    2019800.011.8
    2020778.010.1
    20211,100.011.4
    20221,600.012.6
    20231,500.010.4
    Fiscal years ended July 31.

    Ad costs:

    Worldwide "advertising expense."

    Ad spending as percent of sales:

    Worldwide "advertising expense" as percent of worldwide "total net revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific14.03.2339.1
    Europe58.653.110.3
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.72.656.328.9
      U.S. media spending945.1844.911.9
      Worldwide measured media$1,017.7$901.212.9
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Intuit (Nasdaq: INTU)
    WorldwideYear ended 7/31/2022Year ended 7/31/2021% chg
    Sales$12,726$9,63332.1
    Earnings2,0662,0620.2
    GEOGRAPHIC SALES (year ended 7/31/2022)
    Region ($ in millions)Year ended 7/31/2022Year ended 7/31/2021% chg
    U.S.11,7089,15127.9
    International1,018482111.4
    DIVISION SALES (year ended 7/31/2022)
    Division or segment sales ($ in millions)Year ended 7/31/2022Year ended 7/31/2021% chg
    Small Business & Self-Employed6,4604,68837.8
    Consumer3,9153,5639.9
    Credit Karma1,805865108.7
    ProConnect5465175.6
    Connections
    Intuit
    Ticker: Nasdaq INTU
    2700 Coast Ave., Mountain View, Calif. 94043/Phone: (650) 944-6000.
    URL: https://www.intuit.com
    Facebook: https://www.facebook.com/intuit
    X (formerly Twitter): @Intuit
    Divisions, key executives and agencies

JD.com

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$4,454$5,069-12.1
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    201166.32.0
    2012161.22.5
    2013240.92.2
    2014452.72.4
    2015850.12.9
    20161,173.33.0
    20171,831.93.4
    20182,418.63.5
    20192,793.43.3
    20203,346.83.1
    20215,068.63.4
    20224,453.72.9
    Ad costs:

    Stated worldwide "advertising expenditures" converted to U.S. dollars by Ad Age Datacenter at average exchange rates.

    2022: 29,898 million RMB
    2021: 32,704 million RMB
    2020: 23,088 million RMB
    2019: 19,286 million RMB
    2018: 15,970 million RMB
    2017: 12,376 million RMB
    2016: 7,790 million RMB
    2015: 5,282 million RMB
    2014: 2,781 million RMB
    2013: 1,491 million RMB
    2012: 1,016 million RMB
    2011: 428 million RMB

    Ad spending as percent of sales:

    Worldwide "advertising expenditures" as percent of "total net revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific45.859.0-22.4
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.45.859.0-22.4
      U.S. media spending0.0NANA
      Worldwide measured media$45.8$59.0-22.4
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    JD.com (Nasdaq: JD)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$155,850$147,4835.7
    Earnings1,546-552NA
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    JD Retail138,524134,2643.2
    JD Logistics20,46816,22626.1
    New Businesses3,2444,039-19.7
    Dada1,1960NA
    Unalloated items089NA
    Intersegment-7,583-7,136NA
    Connections
    JD.com
    Ticker: Nasdaq JD
    Floor 20, Building A, No. 18 Kechuang 11 St., Yizhuang Economic and Technological Development Zone, Daxing District, Beijing, China 101111.
    URL: https://jd.com
    Facebook: https://www.facebook.com/jd.cominc
    X (formerly Twitter): @JD_Corporate
    Divisions, key executives and agencies

JPMorgan Chase & Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$3,911$3,03628.8
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Marketing expenses.
    JPMorgan Chase & Co. ranked No. 13 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on JPMorgan Chase & Co. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20122,577.02.7
    20132,500.02.6
    20142,600.02.7
    20152,708.02.9
    20162,897.03.0
    20172,900.02.9
    20183,044.02.8
    20193,351.02.9
    20202,476.02.1
    20213,036.02.5
    20223,911.03.0
    Ad costs:

    Stated worldwide "marketing" spending.

    2019: Restated in 2021 from $3.579 billion.
    2018: Restated in 2021 from $3.290 billion.

    Ad spending as percent of sales:

    Worldwide "marketing" spending as percent of "total net revenue" (total revenue after subtracting interest expense).
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe39.66.4515.7
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.39.66.4515.7
      U.S. media spending551.0452.221.8
      Worldwide measured media$590.6$458.628.8
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    JPMorgan Chase & Co. (NYSE: JPM)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$128,695$121,6495.8
    Earnings37,67637,6760.0
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    North American (substantially U.S.)96,72792,6784.4
    Europe, Middle East and Africa18,76516,56113.3
    Asia and Pacific10,0259,6543.8
    Latin American and the Caribbean3,1782,75615.3
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Consumer and community banking55,01750,0739.9
    Corporate and investment bank47,89951,749-7.4
    Asset and wealth management17,74816,9574.7
    Commericial banking11,53310,00815.2
    Corporate80-3,483NA
    Reconciling Items-3,582-3,655NA
    Connections
    JPMorgan Chase & Co.
    Ticker: NYSE JPM
    383 Madison Ave., New York, N.Y. 10017/Phone: (212) 270-6000.
    URL: https://www.jpmorganchase.com
    Facebook: https://www.facebook.com/jpmorganchase
    X (formerly Twitter): @jpmorgan
    Divisions, key executives and agencies

Kenvue

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 1/1/2023Year ended 1/2/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,356$1,461-7.2
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20191,257.08.8
    20201,230.08.5
    20211,461.09.7
    20221,356.09.1
    Johnson & Johnson in November 2021 announced plans to separate its Consumer Health business (under the name Kenvue) as a new publicly traded company by the end of 2023.

    Ad costs:

    Stated worldwide "advertising expenses."

    Ad spending as percent of sales:

    Worldwide"advertising expenses" as percent of "net sales."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa7.86.618.6
    Asia and Pacific94.0110.1-14.6
    Europe127.5106.919.3
    Latin America0.0NANA
    Canada34.7NANA
      Subtotal media outside the U.S.264.0223.518.1
      U.S. media spending532.4679.9-21.7
      Worldwide measured media$796.4$903.4-11.8
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Kenvue (NYSE: KVUE)
    WorldwideYear ended 1/1/2023Year ended 1/2/2022% chg
    Sales$14,950NANA
    Earnings1,455NANA
    Connections
    Kenvue
    Ticker: NYSE KVUE
    199 Grandview Road, Skillman, N.J. 08558/Phone: (908) 874-1200.
    URL: https://www.kenvue.com
    Facebook: https://www.facebook.com/kenvue
    X (formerly Twitter): @kenvue
    Divisions, key executives and agencies

Kering

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,489$2,2769.4
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific156.5138.413.1
    Europe26.827.3-1.8
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.183.3165.710.6
      U.S. media spending157.2141.810.8
      Worldwide measured media$340.5$307.510.7
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Kering (EPA: KER)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$21,456$20,8812.8
    Earnings3,9503,978-0.7
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Asia Pacific (excluding Japan)6,9257,923-12.6
    Western Europe5,8684,78722.6
    North America5,8485,5445.5
    Rest of world1,5021,3739.4
    Japan1,3121,2544.6
    Connections
    Kering
    Ticker: EPA KER
    40, rue de Sevres, Paris, France 75007/Phone: 33 1 45 64 61 00.
    URL: https://www.kering.com
    Facebook: https://www.facebook.com/keringgroup
    X (formerly Twitter): @KeringGroup
    Divisions, key executives and agencies

Kia Corp.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,117$2,122-0.2
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2010843.02.7
    20111,096.72.8
    20121,141.72.7
    20131,129.72.6
    20141,034.42.3
    20151,096.92.5
    20161,146.72.5
    20171,153.32.4
    20181,113.22.3
    20191,091.72.2
    20201,105.62.2
    20211,255.82.1
    20221,323.42.0
    Ad costs:

    Stated worldwide "advertising" expenses converted to dollars.

    2022: 1,703 billion won.
    2021: 1,436 billion won.
    2020: 1,301 billion won.
    2019: 1,269 billion won.
    2018: 1,223 billion won.
    2017: 1,296 billion won.
    2016: 1,333 billion won.
    2015: 1,232 billion won.
    2014: 1,089 billion won.
    2013: 1,228 billion won.
    2012: 1,283 billion won.
    2011: 1,205 billion won.
    2010: 970 billion won.

    Ad spending as percent of sales:

    Worldwide "advertising" spending as percent of "sales."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa9.64.994.8
    Asia and Pacific139.1143.2-2.9
    Europe257.8253.81.6
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.406.5401.91.2
      U.S. media spending390.3352.610.7
      Worldwide measured media$796.8$754.55.6
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Kia Corp. (KRX: 000270)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$67,264$61,08910.1
    Earnings4,2034,1621.0
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.22,13717,31227.9
    South Korea19,06618,4563.3
    Europe16,10217,319-7.0
    Other regions6,2554,50139.0
    Rest of Americas3,7033,5005.8
    Connections
    Kia Corp.
    Ticker: KRX 000270
    12 Heolleung-ro, Seocho-gu, Seoul, South Korea 137-938/Phone: 82 2 3464 1114.
    URL: https://www.kia.com
    Facebook: https://www.facebook.com/kiaworldwideofficial
    X (formerly Twitter): @Kia
    Divisions, key executives and agencies

Kirin Holdings Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,272$1,487-14.4
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20161,436.58.4
    20171,411.28.5
    20181,410.38.1
    20191,460.48.2
    20201,408.28.1
    20211,486.59.0
    20221,272.38.3
    Ad costs:

    Stated worldwide "sales promotion and advertising" expenses.

    2022: 166.032 billion yen.
    2021: 163.074 billion yen.
    2020: 150.287 billion yen.
    2019: 159.262 billion yen.
    2018: 155.657 billion yen.
    2017: 158.210 billion yen.
    2016: 155.801 billion yen.

    Ad spending as percent of sales:

    Worldwide "sales promotion and advertising" expenses as percent of "revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific966.11,233.0-21.6
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.966.11,233.0-21.6
      U.S. media spending4.25.4-22.6
      Worldwide measured media$970.3$1,238.5-21.7
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Kirin Holdings Co. (TYO: 2503)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$15,246$16,605-8.2
    Earnings1,10262476.6
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Japan8,88510,642-16.5
    Americas3,5202,90121.3
    Other1,4281,466-2.6
    Oceania1,4131,596-11.5
    Connections
    Kirin Holdings Co.
    Ticker: TYO 2503
    Nakano Central Park South, 10-2, Nakano 4-chome, Nakano-ku, Tokyo, Japan 164-0001/Phone: 81 3 6837 7000.
    URL: https://www.kirinholdings.com/en
    X (formerly Twitter): @Kirin_Company
    Divisions, key executives and agencies

L'Oreal

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$12,714$12,5331.4
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    L'Oreal ranked No. 12 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on L'Oreal to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20138,795.329.9
    20148,718.429.1
    20158,174.929.1
    20168,042.429.2
    20178,643.329.4
    20189,623.030.2
    201910,312.030.8
    20209,870.430.9
    202112,533.032.8
    202212,713.631.5
    Converted to dollars.

    Ad costs:

    Stated worldwide "advertising and promotion" expenses. Company said advertising and promotion expenses "consist mainly of expenses relating to the advertisement and promotion of products to customers and consumers."

    2021: 10.591 billion euros.
    2020: 8.648 billion euros.
    2019: 9.208 billion euros.
    2018: 8.145 billion euros.
    2017: 7.651 billion euros.
    2016: 7.264 billion euros (restated).
    2015: 7.360 billion euros.
    2014: 6.559 billion euros.
    2013: 6.622 billion euros (restated).
    2012: 6.532 billion euros (restated).
    2011: 6.292 billion euros.
    2011: 6.292 billion euros.
    2010: 6.029 billion euros.
    2009: 5.389 billion euros.
    2008: 5.269 billion euros.
    2007: 5.125 billion euros.

    Ad spending as percent of sales:

    Worldwide "advertising and promotion expenses" as percent of "net sales."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa25.515.565.1
    Asia and Pacific141.7223.1-36.5
    Europe2,246.22,453.5-8.4
    Latin America148.1116.027.7
    Canada0.0NANA
      Subtotal media outside the U.S.2,561.52,808.0-8.8
      U.S. media spending813.5876.2-7.2
      Worldwide measured media$3,375.0$3,684.3-8.4
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    L'Oreal (ETR: LOR)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$40,338$38,2085.6
    Earnings6,0235,44610.6
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Europe12,05812,0520.0
    North Asia11,93611,6722.3
    North America10,7169,65111.0
    Rest of world3,1232,73614.2
    Latin America2,5052,09619.5
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    L'Oreal luxe15,43314,6105.6
    Consumer products14,78214,4772.1
    Active cosmetics5,4034,64416.3
    Professional products4,7204,4785.4
    Connections
    L'Oreal
    Ticker: ETR LOR
    41, Rue Martre, Clichy, France 92110/Phone: 33 1 47 56 70 00.
    URL: https://www.loreal.com
    Facebook: https://www.facebook.com/lorealgroupe
    X (formerly Twitter): @LOrealGroupe
    Divisions, key executives and agencies

LG Electronics

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,452$1,729-16.0
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20131,108.22.1
    20141,095.52.0
    2015969.11.9
    20161,137.12.4
    20171,113.42.0
    20181,250.72.2
    20191,039.21.9
    2020884.01.6
    20211,282.22.0
    20221,103.41.7
    Ad costs:

    Stated worldwide advertising expense converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    2022: 1,419,979 million won.
    2021: 1,466,382 million won (restated in 2023 from 1,473,861).
    2020: 1,039,956 million won (restated in 2022 from 1,197,722).
    2019:1,208,385 million won.
    2018: 1,374,365 million won.
    2017: 1,251,010 million won.
    2016: 1,322,215 million won.
    2015: 1,088,882 million won.
    2014: 1,153,182 million won.
    2013: 1,204,590 million won.

    Ad spending as percent of sales:

    Stated worldwide advertising expense as percent of net sales.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific318.0437.6-27.3
    Europe55.4100.9-45.1
    Latin America0.02.0-100.0
    Canada0.0NANA
      Subtotal media outside the U.S.373.4540.4-30.9
      U.S. media spending87.0106.0-17.9
      Worldwide measured media$460.4$646.4-28.8
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    LG Electronics (KRX: 066570)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$65,155$66,905-2.6
    Earnings1,4481,23717.0
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Soiuth Korea25,28823,4817.7
    North America15,33715,0681.8
    Europe9,31910,368-10.1
    Asia6,0895,7755.4
    Middle East & Africa2,6082,4257.5
    South America2,4932,872-13.2
    China2,0512,274-9.8
    Russia and others1,0771,777-39.4
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Home appliance and air solution23,21123,677-2.0
    LG Innotek14,82512,60317.6
    Home entertainment12,21615,048-18.8
    Vehicle component solutions6,7215,85914.7
    Business solutions4,7294,785-1.2
    Other3,1592,65419.0
    Connections
    LG Electronics
    Ticker: KRX 066570
    LG Twin Tower 128, Yeoui-daero, Yeongdeungpo-gu, Seoul, South Korea 07336/Phone: 82 2 3777 1114.
    URL: https://www.lg.com
    URL: https://www.lg.com/global
    Facebook: https://www.facebook.com/lgusa
    Divisions, key executives and agencies

LVMH Moet Hennessy Louis Vuitton

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$10,104$8,62817.1
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    LVMH Moet Hennessy Louis Vuitton ranked No. 14 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on LVMH Moet Hennessy Louis Vuittonto see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20124,181.011.6
    20134,396.511.4
    20144,631.111.4
    20154,462.011.3
    20164,696.311.3
    20175,457.911.3
    20186,519.511.8
    20197,016.311.7
    20205,557.310.9
    20218,627.911.4
    202210,104.312.1
    Converted to dollars.

    Ad costs:

    Stated worldwide "advertising and promotion expenses."

    In its reference document for calendar 2022, LVMH said:

    "Advertising and promotion expenses include the costs of producing advertising media, purchasing media space, manufacturing samples, publishing catalogs and, in general, the cost of all activities designed to promote the Group's brands and products."

    2022: 9.584 billion euros.
    2021: 7.291 billion euros.
    2020: 4.869 billion euros.
    2019: 6.265 billion euros.
    2018: 5.518 billion euros.
    2017: 4.831 billion euros.
    2016: 4.242 billion euros.
    2015:4.017 billion euros.
    2014: 3.484 billion euros.
    2013: 3.310 billion euros (restated).
    2012: 3.251 billion euros (restated).
    2011: 2.711 billion euros.
    2010: 2.267 billion euros.
    2009: 1.809 billion euros.
    2008: 2.031 billion euros.
    2007: 1.953 billion euros.

    Ad spending as percent of sales:

    Worldwide"advertising and promotion expenses" as percent of "total revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific763.0646.218.1
    Europe602.5584.73.0
    Latin America6.54.643.3
    Canada0.0NANA
      Subtotal media outside the U.S.1,372.01,235.511.0
      U.S. media spending812.2663.522.4
      Worldwide measured media$2,184.2$1,899.015.0
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    LVMH Moet Hennessy Louis Vuitton (EPA: MC)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$83,482$75,9909.9
    Earnings14,84914,2434.3
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Asia (excluding Japan)25,07626,466-5.3
    U.S.22,71119,63315.7
    Europe (excluding France)13,40711,66814.9
    Other countries10,1558,17024.3
    France6,4014,86531.6
    Japan5,7315,18810.5
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Fashion and leather goods40,74636,56111.4
    Selective retailing15,65813,90912.6
    Watches and jewelry11,15510,6085.2
    Perfums and cosmetics8,1417,8204.1
    Wine and spirits7,4847,0695.9
    Other and holding companies1,67222NA
    Eliminations-1,375-1,361NA
    Connections
    LVMH Moet Hennessy Louis Vuitton
    Ticker: EPA MC
    22, avenue Montaigne, Paris, France 75008/Phone: 33 1 44 13 22 22.
    URL: https://www.lvmh.com
    Facebook: https://www.facebook.com/lvmh
    X (formerly Twitter): @LVMH
    Divisions, key executives and agencies

Macy's

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 1/28/2023Year ended 1/29/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,265$1,267-0.2
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Macy's ranked No. 42 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Macy's to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20121,554.05.6
    20131,623.05.8
    20141,602.05.7
    20151,587.05.9
    20161,547.06.0
    20171,397.05.6
    20181,358.05.4
    20191,330.05.4
    2020907.05.2
    20211,267.05.2
    20221,265.05.2
    Fiscal years. 2021: Year ended Jan. 29, 2022.

    Ad costs:

    Stated "gross advertising and promotional costs," including cooperative advertising allowances.

    2012: Restated in 2014 from $1.603 billion.
    2011: Restated in 2014 from $1.507 billion.

    Ad spending as percent of sales:

    Stated worldwide "gross advertising and promotional costs" as percent of "net sales."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.0.0NANA
      U.S. media spending898.4734.122.4
      Worldwide measured media$898.4$734.122.4
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Macy's (NYSE: M)
    WorldwideYear ended 1/28/2023Year ended 1/29/2022% chg
    Sales$24,442$24,460-0.1
    Earnings1,2591,668-24.5
    DIVISION SALES (year ended 1/28/2023)
    Division or segment sales ($ in millions)Year ended 1/28/2023Year ended 1/29/2022% chg
    Women's Accessories, Intimate Apparel, Shoes, Cosmetics and Fragrances9,59710,119-5.2
    Women's Apparel5,3494,43320.7
    Men's and Kids5,2975,2520.9
    Home/Other (a)4,1994,656-9.8
    Connections
    Macy's
    Ticker: NYSE M
    151 W. 34th St., New York, N.Y. 10001/Phone: (212) 494-3000.
    URL: https://www.macysinc.com
    Facebook: https://www.facebook.com/macys
    X (formerly Twitter): @Macys
    Divisions, key executives and agencies

Mars Inc.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,913$3,123-6.7
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Mars Inc. ranked No. 60 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Mars Inc. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa5.33.837.4
    Asia and Pacific220.1317.3-30.6
    Europe392.6499.7-21.4
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.618.0820.9-24.7
      U.S. media spending474.6487.5-2.7
      Worldwide measured media$1,092.6$1,308.4-16.5
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$45,000$45,0000.0
    Connections
    Mars Inc.
    6885 Elm St., McLean, Va. 22101/Phone: (703) 821-4900.
    URL: https://www.mars.com
    Facebook: https://www.facebook.com/mars
    X (formerly Twitter): @MarsGlobal
    Divisions, key executives and agencies

Maxingvest (Beiersdorf)

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,985$1,999-0.7
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Beiersdorf's worldwide advertising and trade marketing expenses. Maxingvest owns 51% of Beiersdorf.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20141,975.323.6
    20151,698.422.9
    20161,656.222.2
    20171,719.521.6
    20181,810.121.2
    20191,834.421.4
    20201,773.722.1
    20211,998.722.1
    20221,985.221.4
    Ad costs:

    Beiersdorf's worldwide "advertising and trade marketing" expenses converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    2022: 1.883 billion euros.
    2021: 1.689 billion euros.
    2020: 1.554 billion euros.
    2019: 1.638 billion euros.
    2018: 1.532 billion euros.
    2017: 1.522 billion euros.
    2016: 1.496 billion euros.
    2015: 1.529 billion euros.
    2014: 1.486 billion euros.

    Ad spending as percent of sales:

    Beiersdorf's worldwide "advertising and trade marketing" expenses as Beiersdorf's percent of worldwide "net sales."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa44.745.9-2.6
    Asia and Pacific91.079.814.0
    Europe1,141.51,238.4-7.8
    Latin America44.923.194.8
    Canada0.0NANA
      Subtotal media outside the U.S.1,322.11,387.1-4.7
      U.S. media spending34.072.5-53.2
      Worldwide measured media$1,356.1$1,459.7-7.1
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Maxingvest (Beiersdorf) (ETR: BEI)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$9,277$9,0252.8
    Earnings8137754.9
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Europe3,2723,444-5.0
    Africa/Asia/Australia2,3052,2691.6
    Latin America99277627.8
    North America94976424.1
    Connections
    Maxingvest (Beiersdorf)
    Ticker: ETR BEI
    Alter Wandrahm 17/18, Hamburg, Germany 20457/Phone: 49 40 52 86 86 96.
    URL: http://www.maxingvest.de/index.php?id=1&language=2
    Divisions, key executives and agencies

McDonald's Corp.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$4,729$4,4985.1
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Estimated worldwide systemwide ad spending including spending from franchisees and company-owned restaurants.
    McDonald's Corp. ranked No. 25 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on McDonald's Corp. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2010687.04.2
    2011768.64.2
    2012787.54.2
    2013808.44.3
    2014808.24.4
    2015718.74.4
    2016645.84.2
    2017532.94.2
    2018388.83.9
    2019365.83.9
    2020325.54.0
    2021377.63.9
    2022334.53.8
    Ad costs:

    McDonald's Corp.'s stated worldwide advertising costs, which primarily are contributions to advertising cooperatives for company-owned stores. This spending excludes ad spending by franchisees.

    Ad spending as percent of sales:

    McDonald's Corp.'s stated worldwide advertising costs, which primarily are contributions to advertising cooperatives for company-owned stores, as percentage of "company-operated sales," also known as "sales by company-operated restaurants."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa27.324.113.2
    Asia and Pacific342.1333.52.6
    Europe1,230.61,128.69.0
    Latin America78.268.114.8
    Canada52.060.1-13.5
      Subtotal media outside the U.S.1,730.21,614.47.2
      U.S. media spending637.9741.2-13.9
      Worldwide measured media$2,368.1$2,355.60.5
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    McDonald's Corp. (NYSE: MCD)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$23,223$19,20820.9
    Earnings7,5454,73159.5
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    International Developmental Licensed Markets & CorporateNA2,068NA
    U.S.NA8,711NA
    OtherNA350NA
    International Operated MarketsNA12,094NA
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    OtherNANA
    Sales by company-operated restaurantsNA9,788NA
    Revenue from franchised restaurantsNA13,085NA
    Connections
    McDonald's Corp.
    Ticker: NYSE MCD
    110 N. Carpenter St., Chicago, Ill. 60607/Phone: (630) 623-3000.
    URL: https://corporate.mcdonalds.com/corpmcd/home.html
    Facebook: https://www.facebook.com/mcdonalds
    X (formerly Twitter): @McDonalds
    Divisions, key executives and agencies

Mercedes-Benz Group

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,676$2,711-1.3
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    202010,233.47.4
    202110,879.86.9
    20229,996.76.3
    Ad costs:

    Stated worldwide "selling expenses" converted to dollars at average exchange rates by Ad Age Datacenter.

    2022: 9.482 billion euros.
    2021: 9.194 billion euros.
    2020: 8.966 billion euros.

    Ad spending as percent of sales:

    "Selling expenses" as percent of"revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa1.72.1-19.9
    Asia and Pacific26.416.064.4
    Europe312.6459.9-32.0
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.340.6478.1-28.8
      U.S. media spending216.4207.04.5
      Worldwide measured media$557.0$685.1-18.7
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Mercedes-Benz Group (ETR: MBG)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$158,160$158,444-0.2
    Earnings15,61327,686-43.6
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Europe59,55360,403-1.4
    Asia48,03147,4841.2
    North America42,26739,1757.9
    Other markets8,30911,382-27.0
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Mercedes-Benz Cars117,659114,4452.8
    Mercedes-Benz Mobility28,41733,064-14.1
    Mercedes-Benz Vans18,15217,4374.1
    Other-6,067-6,503NA
    Connections
    Mercedes-Benz Group
    Ticker: ETR MBG
    Mercedesstrasse 120, Stuttgart, Germany 70372/Phone: 49 711 17 0.
    URL: https://group.mercedes-benz.com/en
    Facebook: https://www.facebook.com/mercedesbenz
    X (formerly Twitter): @MercedesBenz
    Divisions, key executives and agencies

Merck & Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,200$2,00010.0
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Merck & Co. ranked No. 30 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Merck & Co. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20122,800.05.9
    20132,500.05.7
    20142,300.05.4
    20152,100.05.3
    20162,100.05.3
    20172,200.05.5
    20182,100.05.0
    20191,900.04.9
    20201,800.04.3
    20212,000.04.1
    20222,200.03.7
    Ad costs:

    Stated worldwide "advertising and promotion" costs.

    2020: Restated in 2022 from $2.0 billion.
    2019: Restated in 2022 from $2.1 billion.

    Ad spending as percent of sales:

    Worldwide "advertising and promotion" costs as percent of "sales."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa7.29.9-26.9
    Asia and Pacific154.1132.416.4
    Europe0.0NANA
    Latin America0.00.3-100.0
    Canada0.0NANA
      Subtotal media outside the U.S.161.3142.513.2
      U.S. media spending293.8318.4-7.7
      Worldwide measured media$455.1$460.9-1.2
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Merck & Co. (NYSE: MRK)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$59,283$48,70421.7
    Earnings14,51912,34517.6
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.27,20622,42521.3
    Europe, Middle East and Africa14,49313,3418.6
    China5,1914,37818.6
    Japan3,6292,72633.1
    Asia Pacific3,6142,40750.1
    Latin America2,5822,20617.0
    Other2,5681,221110.3
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Pharmaceutical52,00542,75421.6
    Animal health5,5505,568-0.3
    Other revenue1,728382352.4
    Connections
    Merck & Co.
    Ticker: NYSE MRK
    126 E. Lincoln Ave., P.O. Box 2000, Rahway, N.J. 07065/Phone: (908) 740-4000.
    URL: https://www.merck.com
    X (formerly Twitter): @Merck
    Divisions, key executives and agencies

Meta Platforms (Facebook)

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,650$2,990-11.4
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Meta Platforms (Facebook) ranked No. 48 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Meta Platforms (Facebook) to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20095.00.6
    20108.00.4
    201128.00.8
    201267.01.3
    2013117.01.5
    2014135.01.1
    2015281.01.6
    2016310.01.1
    2017324.00.8
    20181,100.02.0
    20191,570.02.2
    20202,260.02.6
    20212,990.02.5
    20222,650.02.3
    Ad costs:

    Stated worldwide "advertising expenses."

    Ad spending as percent of sales:

    Worldwide "advertising expenses" as percent of "revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific9.328.4-67.5
    Europe149.5191.0-21.7
    Latin America0.022.3-100.0
    Canada0.0NANA
      Subtotal media outside the U.S.158.8241.8-34.3
      U.S. media spending444.9649.8-31.5
      Worldwide measured media$603.7$891.6-32.3
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Meta Platforms (Facebook) (Nasdaq: META)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$116,609$117,929-1.1
    Earnings23,20039,370-41.1
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    US & Canada50,15051,541-2.7
    Asia-Pacific27,76026,7393.8
    Europe26,68129,057-8.2
    Rest of World12,01810,59213.5
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Advertising113,642114,934-1.1
    Reality Labs2,1592,274-5.1
    Other revenue80872112.1
    Connections
    Meta Platforms (Facebook)
    Ticker: Nasdaq META
    1 Hacker Way, Menlo Park, Calif. 94025/Phone: (650) 543-4800.
    URL: https://www.meta.com
    Facebook: https://www.facebook.com/meta
    X (formerly Twitter): @Meta
    Divisions, key executives and agencies

Mondelez International

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,670$1,5646.8
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20111,860.05.2
    20121,815.05.2
    20131,721.04.9
    20141,552.04.5
    20151,542.05.2
    20161,396.05.4
    20171,248.04.8
    20181,173.04.5
    20191,208.04.7
    20201,376.05.2
    20211,564.05.4
    20221,670.05.3
    Ad costs:

    Stated worldwide "advertising expense."

    Ad spending as percent of sales:

    Worldwide "advertising expense" as percent of "net revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa31.618.670.1
    Asia and Pacific209.4287.4-27.1
    Europe927.6937.0-1.0
    Latin America71.436.595.6
    Canada0.0NANA
      Subtotal media outside the U.S.1,239.91,279.5-3.1
      U.S. media spending314.3341.7-8.0
      Worldwide measured media$1,554.2$1,621.2-4.1
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Mondelez International (Nasdaq: MDLZ)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$31,496$28,7209.7
    Earnings2,7174,300-36.8
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Europe11,42011,1562.4
    North America9,6808,30216.6
    AMEA6,7676,4654.7
    Latin America3,6292,79729.7
    Connections
    Mondelez International
    Ticker: Nasdaq MDLZ
    905 W. Fulton Market, Chicago, Ill. 60607/Phone: (847) 943-4000.
    URL: https://www.mondelezinternational.com
    Facebook: https://www.facebook.com/mondelezinternational
    X (formerly Twitter): @MDLZ
    Divisions, key executives and agencies

Nestle

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$6,786$7,210-5.9
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Nestle ranked No. 17 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Nestle to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20226,786.26.9
    Ad costs:

    Worldwide "advertising and marketing expenses" converted to U.S. dollars by Ad Age Datacenter at average exchange rates.

    2022: 6.474 billion Swiss francs.

    Ad spending as percent of sales:

    Worldwide "advertising and marketing expenses" as percent of worldwide"sales."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa20.824.5-15.0
    Asia and Pacific572.7831.0-31.1
    Europe676.71,101.8-38.6
    Latin America56.667.9-16.7
    Canada0.0NANA
      Subtotal media outside the U.S.1,326.82,025.2-34.5
      U.S. media spending745.8906.6-17.7
      Worldwide measured media$2,072.5$2,931.8-29.3
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Nestle (SWX: NESN)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$98,977$95,2913.9
    Earnings9,71718,497-47.5
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    North America34,591NA
    Europe23,366NA
    Asia, Oceana and Africa21,978NA
    Latin America12,9170NA
    Greater China6,1250NA
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Powdered and liquid beverages26,43426,2330.8
    Petcare18,97417,02111.5
    Nutrition and health science16,43414,39614.2
    Prepared dishes and cooking aids13,08613,290-1.5
    Milk products and ice cream11,83311,7081.1
    Confectionery8,5098,2223.5
    Water3,7074,421-16.2
    Connections
    Nestle
    Ticker: SWX NESN
    Avenue Nestle 55, Vevey, Switzerland 1800/Phone: 41 21 924 1111.
    URL: https://www.nestle.com
    Facebook: https://www.facebook.com/nestle
    X (formerly Twitter): @Nestle
    Divisions, key executives and agencies

Netflix

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,531$2,545-0.6
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Netflix ranked No. 50 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Netflix to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    19982.2368.2
    19993.980.6
    200010.429.0
    200112.016.2
    200232.421.5
    200346.517.2
    200491.818.3
    2005135.919.9
    2006215.321.6
    2007207.917.2
    2008158.711.6
    2009175.010.5
    2010212.49.8
    2011299.19.3
    2012351.09.7
    2013404.09.2
    2014533.19.7
    2015714.310.5
    2016842.49.5
    20171,091.19.3
    20181,808.011.4
    20191,879.09.3
    20201,447.05.8
    20211,669.05.6
    20221,586.05.0
    Ad costs:

    Stated worldwide "advertising expenses."

    2013: Restated from $437.9 million.
    2012: Restated from $377.2 million.

    Ad spending as percent of sales:

    Worldwide "advertising expenses" as percent of "revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa3.02.328.6
    Asia and Pacific16.120.4-21.0
    Europe204.4179.314.0
    Latin America0.026.8-100.0
    Canada0.0NANA
      Subtotal media outside the U.S.223.5228.8-2.3
      U.S. media spending184.9150.323.0
      Worldwide measured media$408.4$379.07.7
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Netflix (Nasdaq: NFLX)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$31,616$29,6986.5
    Earnings4,4925,116-12.2
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Rest of world18,61617,5985.8
    U.S.13,00012,1007.4
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Streaming31,47029,5156.6
    Domestic DVD146182-20.1
    Connections
    Netflix
    Ticker: Nasdaq NFLX
    100 Winchester Circle, Los Gatos, Calif. 95032/Phone: (408) 540-3700.
    URL: https://www.netflix.com
    Facebook: https://www.facebook.com/netflixus
    X (formerly Twitter): @netflix
    Divisions, key executives and agencies

Nike

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 5/31/2023Year ended 5/31/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$4,060$3,8505.5
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Nike ranked No. 38 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Nike to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20071,912.411.7
    20082,308.312.4
    20092,351.312.3
    20102,356.412.4
    20112,344.011.7
    20122,607.011.2
    20132,745.010.8
    20143,031.010.9
    20153,213.010.5
    20163,278.010.1
    20173,341.09.7
    20183,577.09.8
    20193,753.09.6
    20203,592.09.6
    20213,114.07.0
    20223,850.08.2
    20234,060.07.9
    Fiscal years ended May 31.

    2023: Year ended May 2023.

    Ad costs:

    Stated worldwide "demand creation expense" (also known as "advertising and promotion costs").

    2012: Restated from $2.711 billion.
    2011: Restated from $2.448 billion.

    Ad spending as percent of sales:

    Worldwide "demand creation expense" (also known as "advertising and promotion costs") as percent of "revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.52.1-74.0
    Asia and Pacific4.73.341.7
    Europe103.680.528.7
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.108.885.926.7
      U.S. media spending276.8327.5-15.5
      Worldwide measured media$385.6$413.4-6.7
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Nike (NYSE: NKE)
    WorldwideYear ended 5/31/2023Year ended 5/31/2022% chg
    Sales$51,217$46,7109.6
    Earnings5,0706,046-16.1
    GEOGRAPHIC SALES (year ended 5/31/2023)
    Region ($ in millions)Year ended 5/31/2023Year ended 5/31/2022% chg
    North America21,60818,35317.7
    Europe, Middle East, Africa13,41812,4797.5
    Greater China7,2487,547-4.0
    Asia Pacific and Latin America6,4315,9558.0
    Converse2,4272,3463.5
    Global brand divisions58102-43.1
    Corporate27-72NA
    DIVISION SALES (year ended 5/31/2023)
    Division or segment sales ($ in millions)Year ended 5/31/2023Year ended 5/31/2022% chg
    Footwear33,13529,14313.7
    Apparel13,84313,5672.0
    Converse2,4272,3463.5
    Equipment1,7271,6246.3
    Global brand58102-43.1
    Other27-72NA
    Connections
    Nike
    Ticker: NYSE NKE
    1 Bowerman Drive, Beaverton, Ore. 97005/Phone: (503) 671-6453.
    URL: https://www.nike.com
    Facebook: https://www.facebook.com/nike
    X (formerly Twitter): @Nike
    Divisions, key executives and agencies

Nissan Motor Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 3/31/2023Year ended 3/31/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,098$2,206-4.9
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Nissan Motor Co. ranked No. 69 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Nissan Motor Co. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20132,888.12.8
    20143,081.63.0
    20152,850.62.8
    20162,899.02.7
    20172,748.12.5
    20182,728.32.6
    20192,583.42.8
    20202,192.83.0
    20212,205.72.9
    20222,097.92.7
    Fiscal years ended March 31. Figures converted to dollars at average exchange rates by Ad Age Datacenter.

    2022: Year ended March 2023 (fiscal 2023).

    Ad costs:

    Stated worldwide "advertising expenses."

    2022: 283.505 billion yen.
    2021: 247.552 billion yen.
    2020: 232.534 billion yen.
    2019: 280.801 billion yen.
    2018: 302.472 billion yen.
    2017: 304.328 billion yen.
    2016: 313.406 billion yen.
    2015: 342.213 billion yen.
    2014: 336.792 billion yen.
    2013: 289.098 billion yen.
    2012: 214.076 billion yen (restated from 229.067 billion yen or $2.772 billion).
    2011: 203.650 billion yen.
    2010: 187.490 billion yen.
    2009: 158.451 billion yen.
    2008: 223.542 billion yen.
    2007: 275.857 billion yen.
    2006: 274.833 billion yen.

    Ad spending as percent of sales:

    Worldwide "advertising expenses" as percent of "net sales."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa3.73.8-3.6
    Asia and Pacific305.3270.213.0
    Europe248.8295.6-15.8
    Latin America38.322.570.5
    Canada0.0NANA
      Subtotal media outside the U.S.596.1592.10.7
      U.S. media spending556.1683.4-18.6
      Worldwide measured media$1,152.2$1,275.5-9.7
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Nissan Motor Co. (TYO: 7201)
    WorldwideYear ended 3/31/2023Year ended 3/31/2022% chg
    Sales$78,416$75,0634.5
    Earnings1,6421,920-14.5
    GEOGRAPHIC SALES (year ended 3/31/2023)
    Region ($ in millions)Year ended 3/31/2023Year ended 3/31/2022% chg
    North America39,53834,72713.9
    Japan12,79513,620-6.1
    Europe9,7059,4342.9
    Other overseas countries9,6858,70611.2
    Asia (excluding Japan)6,6928,576-22.0
    DIVISION SALES (year ended 3/31/2023)
    Division or segment sales ($ in millions)Year ended 3/31/2023Year ended 3/31/2022% chg
    Automobile70,98066,1207.3
    Sales financing7,4368,943-16.9
    Connections
    Nissan Motor Co.
    Ticker: TYO 7201
    1-1, Takashima 1-chome, Nishi-ku, Yokohama-shi, Kanagawa, Japan 220-8686/Phone: 81 45 523 5523.
    URL: https://www.nissan-global.com
    Facebook: https://www.facebook.com/nissan
    Divisions, key executives and agencies

Paramount Global

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,690$2,14025.7
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Paramount Global ranked No. 21 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Paramount Global to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20171,580.06.0
    20181,390.05.3
    20191,670.06.2
    20201,310.05.2
    20212,140.07.5
    20222,690.08.9
    CBS Corp. acquired Viacom on Dec. 4, 2019. Immediately after the deal closed, CBS Corp. changed its name to ViacomCBS. ViacomCBS changed its name to Paramount Global on Feb. 16, 2022.

    Figures here are calendar year figures for the combined company including (prior to the merger) the operates of the old CBS Corp. and old Viacom.

    Ad costs:

    Stated worldwide "advertising expenses."

    2018: Restated in 2021 from $1.410 billion.

    Ad spending as percent of sales:

    Worldwide "advertising expenses" as percent of total "revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa4.24.5-7.4
    Asia and Pacific54.311.0392.7
    Europe134.220.1568.3
    Latin America20.61.1NA
    Canada51.2NANA
      Subtotal media outside the U.S.264.536.7621.0
      U.S. media spending1,228.0927.032.5
      Worldwide measured media$1,492.5$963.654.9
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Paramount Global (Nasdaq: PARA)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$30,154$28,5865.5
    Earnings7254,381-83.5
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.24,41223,3204.7
    International5,7425,2669.0
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    TV media21,73222,734-4.4
    Direct-to-consumer4,9043,32747.4
    Filmed entertainment3,7062,68737.9
    Eliminations-188-162NA
    Connections
    Paramount Global
    Ticker: Nasdaq PARA
    1515 Broadway, New York, N.Y. 10036/Phone: (212) 258-6000.
    URL: https://www.paramount.com
    Facebook: https://www.facebook.com/paramountcompany
    X (formerly Twitter): @paramountco
    Divisions, key executives and agencies

PDD Holdings (Pinduoduo, Temu)

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$7,444$6,42515.9
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    201617.122.5
    2017186.472.2
    20181,948.798.1
    20193,746.785.8
    20205,696.666.1
    20216,425.244.1
    20227,443.938.3
    Ad costs:

    Stated worldwide "advertising expenditures and incentive programs" converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    2022: 49,971 million renminbi.
    2021: 41,457 million renminbi.
    2020: 39,298 million renminbi.
    2019: 25,868 million renminbi.
    2018:12,868 million renminbi.
    2017: 1,260 million renminbi.
    2016: 114 million renminbi.

    Ad spending as percent of sales:

    Stated worldwide "advertising expenditures and incentive programs" as percent of "total revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
      U.S. media spending34..0NA
      Worldwide measured media34.0NA
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    PDD Holdings (Pinduoduo, Temu) (Nasdaq: PDD)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$19,448$14,56133.6
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Online marketing services and others15,30211,24636.1
    Transaction services4,1152,19287.8
    Merchandise sales311,123-97.2
    Connections
    PDD Holdings (Pinduoduo, Temu)
    Ticker: Nasdaq PDD
    First Floor, 25 St. Stephen's Green, Dublin 2, Ireland D02 XF99.
    URL: https://investor.pddholdings.com
    Divisions, key executives and agencies

PepsiCo

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/25/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$3,500$3,5000.0
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    PepsiCo ranked No. 24 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on PepsiCo to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20111,900.03.3
    20122,200.03.4
    20132,400.03.6
    20142,300.03.4
    20152,400.03.8
    20162,500.04.0
    20172,400.03.8
    20182,600.04.0
    20193,000.04.5
    20203,000.04.3
    20213,500.04.4
    20223,500.04.1
    Ad costs:

    Stated worldwide "advertising expenses." These stated worldwide ad expenses include media, talent, production and promotional materials.

    Ad spending as percent of sales:

    Worldwide "advertising expenses" as percent of "net revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa42.323.679.4
    Asia and Pacific117.8159.4-26.1
    Europe508.9479.56.1
    Latin America24.619.526.6
    Canada0.035.1-100.0
      Subtotal media outside the U.S.693.6717.0-3.3
      U.S. media spending1,006.11,069.6-5.9
      Worldwide measured media$1,699.7$1,786.6-4.9
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    PepsiCo (Nasdaq: PEP)
    WorldwideYear ended 12/31/2022Year ended 12/25/2021% chg
    Sales$86,392$79,4748.7
    Earnings8,9107,61817.0
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/25/2021% chg
    U.S.49,39044,54510.9
    All other countries17,44316,7294.3
    Mexico5,4724,58019.5
    Russia4,1183,42620.2
    Canada3,5363,4053.8
    China2,7522,6792.7
    U.K.1,8442,102-12.3
    South Africa1,8372,008-8.5
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/25/2021% chg
    PB North American26,21325,2763.7
    Frito-Lay North America23,29119,60818.8
    Europe12,72413,038-2.4
    Latin America9,7798,10820.6
    Asia, Middle East and North Africa6,4386,0785.9
    APAC4,7874,6153.7
    Quaker Foods North America (QFNA)3,1602,75114.9
    Connections
    PepsiCo
    Ticker: Nasdaq PEP
    700 Anderson Hill Road, Purchase, N.Y. 10577/Phone: (914) 253-2000.
    URL: https://www.pepsico.com
    Facebook: https://www.facebook.com/pepsico
    X (formerly Twitter): @PepsiCo
    Divisions, key executives and agencies

Pernod Ricard

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 6/30/2023Year ended 6/30/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,032$1,9156.1
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Advertising and promotion.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20122,106.019.1
    20132,126.719.2
    20142,039.518.9
    20151,955.519.0
    20161,827.519.0
    20171,843.718.8
    20181,705.816.4
    20191,725.216.5
    20201,467.815.7
    20211,661.615.8
    20221,915.115.9
    20232,032.116.0
    Fiscal years.

    2023: Year ended June 30, 2023.

    Ad costs:

    Worldwide "advertising and promotion expenses" converted to dollars by Ad Age Datacenter at average exchange rates.

    2023: 1.939 billion euros.
    2022: 1.698 billion euros.
    2021: 1.393 billion euros.
    2020: 1.327 billion euros.
    2019: 1.512 billion euros.
    2018: 1.429 billion euros (restated from 1.720 billion euros due to IFRS 15).
    2017: 1.691 billion euros.
    2016: 1.646 billion euros.
    2015: 1.625 billion euros.
    2014: 1.503 billion euros.
    2013: 1.644 billion euros.
    2012: 1.571 billion euros.

    Ad spending as percent of sales:

    Worldwide "advertising and promotion expenses" as percent of "net sales."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa20.520.02.6
    Asia and Pacific2.03.0-33.2
    Europe98.6103.5-4.8
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.121.1126.5-4.3
      U.S. media spending80.850.958.6
      Worldwide measured media$201.9$177.413.8
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Pernod Ricard (EPA: RI)
    WorldwideYear ended 6/30/2023Year ended 6/30/2022% chg
    Sales$12,720$12,0695.4
    Earnings2,3932,2914.5
    GEOGRAPHIC SALES (year ended 6/30/2023)
    Region ($ in millions)Year ended 6/30/2023Year ended 6/30/2022% chg
    Asia/Rest of world5,4405,0058.7
    Americas3,6483,5333.2
    Europe3,6313,5302.9
    Connections
    Pernod Ricard
    Ticker: EPA RI
    5 Cours Paul Ricard, Paris, France 75380/Phone: 33 1 70 93 16 00.
    URL: https://pernod-ricard.com
    X (formerly Twitter): @Pernod_Ricard
    Divisions, key executives and agencies

Pfizer

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,800$2,00040.0
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Pfizer ranked No. 22 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Pfizer to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20122,800.05.1
    20133,000.05.8
    20143,100.06.2
    20153,100.06.3
    20163,200.06.1
    20173,100.05.9
    20182,700.06.6
    20192,300.05.6
    20201,800.04.3
    20212,000.02.5
    20222,800.02.8
    Ad costs:

    Stated worldwide "advertising expenses."

    2019: Restated in 2022 from $2.4 billion; restated in 2021 from $2.6 billion.
    2018: Restated in 2021 from $3.1 billion.
    2012: Restated in 2014 from $2.9 billion.
    2011: Restated in 2013 from $3.9 billion.
    2010: Including 12 months of Wyeth advertising; restated in 2013 from $4.0 billion.
    2009: Including 2.5 months of Wyeth advertising.

    Ad spending as percent of sales:

    Worldwide "advertising expenses" as percent of "revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa6.14.437.7
    Asia and Pacific201.9214.7-5.9
    Europe5.57.7-27.7
    Latin America0.025.7-100.0
    Canada0.0NANA
      Subtotal media outside the U.S.213.5252.5-15.4
      U.S. media spending1,005.3539.786.3
      Worldwide measured media$1,218.8$792.153.9
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Pfizer (NYSE: PFE)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$100,330$81,28823.4
    Earnings31,37221,97942.7
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.42,47329,74642.8
    Developed Europe21,98218,33619.9
    Emerging Markets20,09720,701-2.9
    Developed Rest of World15,77812,50626.2
    Connections
    Pfizer
    Ticker: NYSE PFE
    66 Hudson Blvd. E, New York, N.Y. 10001/Phone: (212) 733-2323.
    URL: https://www.pfizer.com
    Facebook: https://www.facebook.com/pfizer
    X (formerly Twitter): @pfizer
    Divisions, key executives and agencies

Procter & Gamble Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 6/30/2023Year ended 6/30/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$11,046$11,122-0.7
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Procter & Gamble Co. ranked No. 3 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Procter & Gamble Co. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    19871,386.08.2
    19881,594.08.2
    19891,660.07.8
    19902,059.08.6
    19912,511.09.3
    19922,693.09.2
    19932,973.09.7
    19942,996.09.9
    19953,284.09.8
    19963,374.09.6
    19973,414.09.5
    19983,638.09.8
    19993,471.09.5
    20003,828.09.9
    20013,654.09.7
    20023,696.09.5
    20034,406.010.5
    20045,401.010.8
    20055,804.010.9
    20067,010.010.9
    20077,714.010.9
    20088,426.010.8
    20097,330.010.0
    20108,162.011.1
    20117,713.010.9
    20127,839.010.7
    20138,188.011.1
    20147,867.010.6
    20157,180.010.1
    20167,243.011.1
    20177,118.010.9
    20187,103.010.6
    20196,751.010.0
    20207,326.010.3
    20218,176.010.7
    20227,900.09.9
    20238,000.09.8
    Fiscal years ended June 30.

    2023: Year ended June 30, 2023.

    Sales and ad costs from 10-Ks, annual reports and company disclosures. Some data reflect P&G's restated figures.

    Sales:

    Worldwide sales.

    2011-2015 restated in 2016.
    2010-2014 restated in 2015.
    2009-2013 restated in 2014.

    Ad costs:

    Worldwide "advertising expense." Advertising expense includes worldwide TV, print, radio, internet and in-store advertising expenses.

    2011-2015 restated in 2016.
    2015: Restated in 2016 from $8.290 billion.
    2014: Restated in 2016 from $8.979 billion.
    2013: Restated in 2016 from $9.364 billion.
    2012: Restated in 2016 from $8.981 billion.
    2011: Restated in 2016 from $8.868 billion.

    2010-2014 restated in 2015.
    2014 restated in 2015 from $9.236 billion.
    2013 restated in 2015 from $9.612 billion.
    2012 restated in 2015 from $9.222 billion.
    2011 restated in 2015 from $9.086 billion.
    2010 restated in 2015 from $8.338 billion.

    2009-2013 restated in 2014.
    2013 restated in 2014 from $9.729 billion.
    2012 restated in 2014 from $9.345 billion.
    2011 restated in 2014 from $9.210 billion.
    2010 restated in 2014 from $8.475 billion.
    2009 Restated in 2014 from $7.453 billion.

    Ad spending as percent of sales:

    Worldwide "advertising expense" as percent of net sales.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa20.130.3-33.7
    Asia and Pacific1,464.51,964.3-25.4
    Europe4,746.25,208.6-8.9
    Latin America169.0136.523.8
    Canada109.595.514.7
      Subtotal media outside the U.S.6,509.47,435.2-12.5
      U.S. media spending3,238.13,104.94.3
      Worldwide measured media$9,747.5$10,540.1-7.5
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Procter & Gamble Co. (NYSE: PG)
    WorldwideYear ended 6/30/2023Year ended 6/30/2022% chg
    Sales$82,006$80,1872.3
    Earnings14,73814,793-0.4
    GEOGRAPHIC SALES (year ended 6/30/2023)
    Region ($ in millions)Year ended 6/30/2023Year ended 6/30/2022% chg
    International43,30043,700-0.9
    U.S.38,70036,5006.0
    DIVISION SALES (year ended 6/30/2023)
    Division or segment sales ($ in millions)Year ended 6/30/2023Year ended 6/30/2022% chg
    Fabric and home care28,37127,5563.0
    Baby, feminine and family care20,21719,7362.4
    Beauty15,00814,7401.8
    Health care11,22610,8243.7
    Grooming6,4196,587-2.6
    Corporate7657442.8
    Connections
    Procter & Gamble Co.
    Ticker: NYSE PG
    1 Procter & Gamble Plaza, Cincinnati, Ohio 45202/Phone: (513) 983-1100.
    URL: https://us.pg.com
    Facebook: https://www.facebook.com/proctergamble
    X (formerly Twitter): @ProcterGamble
    Divisions, key executives and agencies

Progressive Corp.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,033$2,140-5.0
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Progressive Corp. ranked No. 23 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Progressive Corp. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2011543.03.4
    2012546.83.2
    2013619.33.4
    2014681.83.5
    2015748.33.6
    2016756.23.2
    20171,005.43.7
    20181,422.44.4
    20191,837.34.7
    20202,175.75.1
    20212,139.54.5
    20222,032.54.1
    Ad costs:

    Stated "total advertising costs" from 10-K filings.

    Ad spending as percent of sales:

    Stated "total advertising costs" as percent of "total revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.0.0NANA
      U.S. media spending1,369.81,590.0-13.8
      Worldwide measured media$1,369.8$1,590.0-13.8
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Progressive Corp. (NYSE: PGR)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$49,611$47,7024.0
    Earnings6953,324-79.1
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Personal insurance lines (direct)20,13618,4928.9
    Personal insurance lines (agency)17,74516,8815.1
    Commercial lines9,0886,94530.9
    Property2,2702,04311.1
    Fees and other revenue7227003.2
    Service businesses29927110.3
    Investments-6522,370NA
    Connections
    Progressive Corp.
    Ticker: NYSE PGR
    6300 Wilson Mills Road, Mayfield Village, Ohio 44143/Phone: (440) 461-5000.
    URL: https://www.progressive.com
    Facebook: https://www.facebook.com/progressive
    X (formerly Twitter): @progressive
    Divisions, key executives and agencies

Rakuten Group

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,797$3,172-11.8
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2014795.214.0
    2015831.614.1
    20161,118.315.5
    20171,359.316.1
    20181,751.117.5
    20192,116.818.3
    20202,474.318.1
    20213,171.920.7
    20222,796.718.9
    Ad costs:

    Stated worldwide "advertising and promotion expenditures" converted to U.S. dollars by Ad Age Datacenter at average exchange rates.

    2022: 364.948 billion yen.
    2021: 347.959 billion yen.
    2020: 264.063 billion yen.
    2019: 230.842 billion yen.
    2018: 193.279 billion yen.
    2017: 152.383 billion yen.
    2016: 121.286 billion yen.
    2015: 100.554 billion yen.
    2014: 83.884 billion yen.

    Ad spending as percent of sales:

    Worldwide "advertising and promotion expenditures" as percent of "revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific2,357.22,638.5-10.7
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.2,357.22,638.5-10.7
      U.S. media spending85.961.839.0
      Worldwide measured media$2,443.1$2,700.3-9.5
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Rakuten Group (TYO: 4755)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$14,774$15,330-3.6
    Earnings-2,881-1,238NA
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Japan12,45212,746-2.3
    Americas1,6271,657-1.8
    Asia377566-33.4
    Europe304348-12.8
    Others151315.9
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Other7,0917,192-1.4
    Rakuten Ichiba and Rakuten Travel3,3843,552-4.7
    Rakuten Card1,5051,746-13.8
    Rekuten mobile1,4451,3378.1
    Rakuten Bank710715-0.7
    Rakuten securities638787-18.9
    Connections
    Rakuten Group
    Ticker: TYO 4755
    Rakuten Crimson House, 1-14-1 Tamagawa, Setagaya-ku, Tokyo, Japan 158-0094/Phone: 81 50 5581 6910.
    URL: https://global.rakuten.com/corp
    Facebook: https://www.facebook.com/rakutengroup
    X (formerly Twitter): @RakutenGroup
    Divisions, key executives and agencies

Reckitt

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,111$2,228-5.2
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Reckitt ranked No. 91 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Reckitt to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20141,878.612.9
    20151,723.412.7
    20161,748.713.6
    20172,050.813.9
    20182,321.513.8
    20192,362.114.4
    20202,496.113.9
    20212,227.512.2
    20222,110.711.8
    Converted to dollars at average exchange rates.

    Figures include Mead Johnson Nutrition Co. starting June 2017. Figures exclude RB Pharmaceuticals, which RB in 2014 spun off as a separate company.

    Ad costs:

    Implied worldwide spending on "brand equity investment." Ad Age Datacenter calculated Reckitt's worldwide brand equity investment based on Reckitt disclosures, translating figures into dollars at average exchange rates.

    2022: 1.705 billion pounds.
    2021: 1.619 billion pounds.
    2020: 1.945 billion pounds.
    2019: 1.850 billion pounds.
    2018: 1.738 billion pounds.
    2017: 1.591 billion pounds.
    2016: 1.289 billion pounds (restated).
    2015: 1.127 billion pounds.
    2014: 1.140 billion pounds.
    2013: 1.205 billion pounds.
    2012: 1.109 billion pounds.
    2011: 1.047 billion pounds.

    Ad spending as percent of sales:

    Implied worldwide "brand equity investment" as percent of "net revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa50.773.1-30.6
    Asia and Pacific264.2328.7-19.6
    Europe1,613.51,479.69.1
    Latin America142.6135.25.5
    Canada0.0NANA
      Subtotal media outside the U.S.2,071.02,016.62.7
      U.S. media spending376.7403.6-6.6
      Worldwide measured media$2,447.8$2,420.11.1
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Reckitt (LON: RKT)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$17,887$18,206-1.7
    EarningsNA-29NA
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    All other countries11,22811,861-5.3
    U.S.5,6975,3286.9
    U.K.9631,017-5.3
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Health7,4166,39116.0
    Hygiene7,3768,132-9.3
    Nutrition3,0953,683-16.0
    Connections
    Reckitt
    Ticker: LON RKT
    Turner House, 103-105 Bath Road, Slough, Berkshire, U.K. SL1 3UH/Phone: 44 1753 217800.
    URL: https://www.reckitt.com
    Facebook: https://www.facebook.com/reckittus
    X (formerly Twitter): @ThisIsReckitt
    Divisions, key executives and agencies

Recruit Holdings Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 3/31/2023Year ended 3/31/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,543$2,578-1.3
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Recruit Holdings Co. ranked No. 80 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Recruit Holdings Co. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2011566.35.5
    2012688.85.5
    2013718.36.0
    2014720.16.1
    2015817.26.2
    20161,005.55.6
    20171,247.06.4
    20181,435.76.9
    20191,593.67.2
    20201,337.06.2
    20212,060.58.1
    20221,960.37.7
    Years ended March 31.

    2022: Year ended March 31, 2023.

    Recruit changed its accounting to International Financial Reporting Standards from Japanese generally accepted accounting principles effective for year ended March 2018.

    Ad costs:

    Worldwide "advertising expenses"converted to U.S. dollars by Ad Age Datacenter at average exchange rates.

    2022: 264.9 billion yen (IFRS).
    2021: 231.3 billion yen (IFRS).
    2020: 141.8 billion yen (IFRS).
    2019: 173.2 billion yen (IFRS).
    2018: 159.2 billion yen (IFRS).
    2017: 138.1 billion yen (IFRS).
    2016: 108.7 billion yen (IFRS); 104.1 billion yen (Japanese GAAP)
    2015: 98.1 billion yen (Japanese GAAP).
    2014: 78.7 billion yen (Japanese GAAP).
    2013: 71.9 billion yen (Japanese GAAP).
    2012: 57.4 billion yen (Japanese GAAP).
    2011: 44.7 billion yen (Japanese GAAP).

    Ad spending as percent of sales:

    Worldwide "advertising expenses" as percent of "revenue" (2016 and after); worldwide "advertising expenses" as percent of "net sales" (2011-2015).
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific1,087.21,146.5-5.2
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.1,087.21,146.5-5.2
      U.S. media spending411.9412.6-0.2
      Worldwide measured media$1,499.2$1,559.1-3.8
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Recruit Holdings Co. (TYO: 6098)
    WorldwideYear ended 3/31/2023Year ended 3/31/2022% chg
    Sales$25,378$25,587-0.8
    Earnings1,9972,645-24.5
    GEOGRAPHIC SALES (year ended 3/31/2023)
    Region ($ in millions)Year ended 3/31/2023Year ended 3/31/2022% chg
    Japan10,84911,385-4.7
    U.S.8,0057,5456.1
    Other6,5256,657-2.0
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 3/31/2023Year ended 3/31/2022% chg
    StaffingNANA
    HR TechnologyNANA
    Media & SolutionsNANA
    Connections
    Recruit Holdings Co.
    Ticker: TYO 6098
    1-9-2 Marunouchi, Chiyoda-ku, Floors 22-41, Tokyo, Japan 100-6640/Phone: 81 3 6835 1111.
    URL: https://www.recruit-holdings.com
    X (formerly Twitter): @Recruit_hd
    Divisions, key executives and agencies

Restaurant Brands International

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,566$1,4428.6
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Restaurant Brands International ranked No. 87 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Restaurant Brands International to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa5.05.4-8.8
    Asia and Pacific45.436.225.5
    Europe321.9255.226.1
    Latin America16.00.3NA
    Canada60.262.3-3.5
      Subtotal media outside the U.S.448.3359.424.7
      U.S. media spending736.4555.032.7
      Worldwide measured media$1,184.8$914.429.6
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Restaurant Brands International (NYSE: QSR)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$6,505$5,73913.3
    Earnings1,4821,25318.3
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Canada3,4583,03513.9
    U.S.2,2732,00513.4
    Other77469910.7
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Tim Hortons3,8233,34214.4
    Burger King1,8971,8134.6
    Popeyes Louisiana Kitchens64757911.7
    Firehouse Subs1385NA
    Connections
    Restaurant Brands International
    Ticker: NYSE QSR
    Exchange Tower, 130 King St. W, Toronto, Ontario, Canada M5X 2A2/Phone: (905) 339-6011.
    URL: https://www.rbi.com
    Facebook: https://www.facebook.com/burgerking
    X (formerly Twitter): @BurgerKing
    Divisions, key executives and agencies

Rewe Group

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,256$1,264-0.6
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20141,143.22.0
    20151,025.42.1
    20161,100.62.2
    20171,172.02.1
    20181,202.51.9
    20191,183.51.9
    20201,155.71.5
    20211,264.11.5
    20221,256.01.5
    Ad costs:

    Worldwide "advertising expenses." Ad Age Datacenter translated figures into dollars at average exchange rates.

    2022: 1.191 billion euros.
    2021: 1.068 billion euros.
    2020: 1.013 billion euros (restated).
    2019: 1.057 billion euros.
    2018: 1.018 billion euros (restated).
    2017:1.037 billion euros.
    2016: 994 million euros.
    2015: 923 million euros (restated).
    2014: 860 million euros.

    Ad spending as percent of sales:

    Worldwide "advertising expenses" as percent of "revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe797.2849.1-6.1
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.797.2849.1-6.1
      U.S. media spending0.10.0108.3
      Worldwide measured media$797.2$849.1-6.1
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$81,401$82,073-0.8
    Earnings531894-40.6
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Retail Germany39,45741,453-4.8
    Retail International18,23218,523-1.6
    Convenience15,00916,165-7.2
    Travel and Tourism5,2032,416115.3
    DIY Stores2,6972,784-3.1
    Other8047329.8
    Connections
    Rewe Group
    Domstrasse 20, Cologne, Germany 50668/Phone: 49 221 149 0.
    URL: https://www.rewe-group.com/en
    Facebook: https://www.facebook.com/rewegroup
    X (formerly Twitter): @rewe_group
    Divisions, key executives and agencies

SAIC Motor Corp.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,962$2,031-3.4
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2010806.91.5
    2011985.31.5
    20121,077.01.4
    20131,357.41.5
    20141,634.31.6
    20151,565.41.5
    20161,630.01.4
    20172,009.01.6
    20182,047.91.5
    20191,946.91.6
    20201,512.71.4
    20212,031.11.7
    20221,962.51.8
    Ad costs:

    Stated worldwide "advertising expenses" converted to dollars at average exchange rates by Ad Age Datacenter.

    Stated "advertising expenses" in RMB:

    2022: 13,174,417,699 RMB.
    2021: 13,105,390,077 RMB.
    2020: 10,435,505,680 RMB.
    2019: 13,441,494,239 RMB.
    2018: 13,523,103,089 RMB.
    2017: 13,572,320,163 RMB.
    2016: 10,821,718,109 RMB.
    2015: 9,726,993,437 RMB.
    2014: 10,039,144,659 RMB.
    2013: 8,402,066,316 RMB.
    2012: 6,788,821,826 RMB.
    2011: 6,358,710,653 RMB.
    2010: 5,454,217,737 RMB.

    Ad spending as percent of sales:

    Worldwide "advertising expenses" as percent of "total operating income" (revenue).
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific13.75.0172.9
    Europe0.1NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.13.85.0174.4
      U.S. media spending0.10.1-52.2
      Worldwide measured media$13.8$5.1168.5
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    SAIC Motor Corp. (SHA: 600104)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$110,837$120,865-8.3
    Earnings2,4013,802-36.9
    Connections
    SAIC Motor Corp.
    Ticker: SHA 600104
    489 Weihai Road, Jing'an District, Shanghai, China 200041/Phone: 86 21 22011888.
    URL: https://www.saicmotor.com
    Divisions, key executives and agencies

Samsung Electronics Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$10,276$10,1980.8
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Samsung Electronics Co. ranked No. 16 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Samsung Electronics Co. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20092,135.32.0
    20102,856.02.1
    20112,713.91.8
    20124,349.52.4
    20133,832.11.8
    20143,585.01.8
    20153,428.71.9
    20163,811.62.2
    20174,762.22.2
    20183,638.61.6
    20193,968.52.0
    20203,628.71.8
    20214,700.91.9
    20224,750.32.0
    Ad costs:

    Stated worldwide "advertising" expenses converted to dollars at average exchange rates by Ad Age Datacenter.

    2022: 6,112,951 million won.
    2021: 5,376,015 million won.
    2020: 4,269,043 million won.
    2019: 4,614,525 million won.
    2018: 3,998,491 million won.
    2017:5,350,839 million won.
    2016: 4,432,109 million won.
    2015: 3,852,478 million won.
    2014: 3,773,649 million won.
    2013: 4,165,290 million won.
    2012: 4,887,089 million won.
    2011: 2,982,270 million won.
    2010: 3,282,798 million won.
    2009: 2,702,874 million won.

    Ad spending as percent of sales:

    Worldwide "advertising" spending as percent of "revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa27.028.5-5.4
    Asia and Pacific774.1812.9-4.8
    Europe1,003.61,150.4-12.8
    Latin America105.068.653.0
    Canada0.0NANA
      Subtotal media outside the U.S.1,909.82,060.5-7.3
      U.S. media spending964.51,039.3-7.2
      Worldwide measured media$2,874.3$3,099.7-7.3
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Samsung Electronics Co. (KRX: 005930)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$234,859$244,491-3.9
    Earnings43,24834,89623.9
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    AmericasNA85,609NA
    South KoreaNA38,450NA
    ChinaNA39,848NA
    Asia and AfricaNA36,581NA
    EuropeNA44,004NA
    Connections
    Samsung Electronics Co.
    Ticker: KRX 005930
    129 Samsung-ro, Yeongtong-gu, Gyeonggi-do, Suwon, South Korea 443-472/Phone: 82 2 2255 0114.
    URL: https://www.samsung.com
    Facebook: https://www.facebook.com/samsungus
    X (formerly Twitter): @SamsungUS
    Divisions, key executives and agencies

Sanofi

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,718$1,787-3.9
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Sanofi ranked No. 46 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Sanofi to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.91.7-46.0
    Asia and Pacific30.620.847.3
    Europe996.2966.23.1
    Latin America22.298.8-77.5
    Canada0.0NANA
      Subtotal media outside the U.S.1,049.91,087.4-3.4
      U.S. media spending798.1878.7-9.2
      Worldwide measured media$1,848.0$1,966.1-6.0
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Sanofi (EPA: SAN)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$45,331$44,6851.4
    Earnings8,9457,43020.4
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.19,26717,02313.2
    Rest of world15,52216,114-3.7
    Europe10,54211,548-8.7
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Pharmaceuticals32,35431,9151.4
    Vaccines7,6217,4821.9
    Consumer health care5,3565,2871.3
    Connections
    Sanofi
    Ticker: EPA SAN
    46 Avenue de la Grande Armee, Paris, France 75017/Phone: 33 1 53 77 40 00.
    URL: https://www.sanofi.com
    Facebook: https://www.facebook.com/sanofi
    X (formerly Twitter): @sanofi
    Divisions, key executives and agencies

Schwarz Gruppe (Lidl)

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 2/28/2023Year ended 2/28/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,304$1,407-7.3
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe2,934.93,111.5-5.7
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.2,934.93,111.5-5.7
      U.S. media spending18.013.730.6
      Worldwide measured media$2,952.8$3,125.2-5.5
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    WorldwideYear ended 2/28/2023Year ended 2/28/2022% chg
    Sales$160,957$156,3163.0
    EarningsNANANA
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 2/28/2023Year ended 2/28/2022% chg
    Lidl119,909117,9391.7
    Kaufland33,21531,9424.0
    Connections
    Schwarz Gruppe (Lidl)
    Stiftsbergstrasse 1, Neckarsulm, Germany 74127/Phone: 49 7132 94 2000.
    URL: https://gruppe.schwarz/en
    Facebook: https://www.facebook.com/lidlus
    X (formerly Twitter): @LidlUS
    Divisions, key executives and agencies

Shiseido Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,037$2,513-19.0
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20213,368.336.6
    20222,812.434.4
    Ad costs:

    Stated worldwide "marketing costs" (including point-of-sale personnel costs) under IFRS.

    2022: 367.0 billion yen
    2021: 369.5 billion yen.

    Ad spending as percent of sales:

    Worldwide "marketing costs" (including point-of-sale personnel costs) as percent of "net sales"under IFRS.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific455.7739.8-38.4
    Europe91.883.110.5
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.547.5822.9-33.5
      U.S. media spending40.334.118.4
      Worldwide measured media$587.8$857.0-31.4
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Shiseido Co. (TYO: 4911)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$8,179$9,207-11.2
    Earnings262428-38.7
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    China1,9792,504-21.0
    Japan1,8212,359-22.8
    Travel retail1,2541,09914.1
    Americas1,0571,107-4.5
    EMEA9841,067-7.7
    Asia Pacific521580-10.1
    Other49235239.8
    Professional71139-48.9
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    JapanNANA
    Connections
    Shiseido Co.
    Ticker: TYO 4911
    5-5, Ginza 7-chome, Chuo-ku, Tokyo, Japan 104-0061/Phone: 81 3 3572 5111.
    URL: https://corp.shiseido.com/en
    Facebook: https://www.facebook.com/shiseidousa
    Divisions, key executives and agencies

Sony Group Corp.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 3/31/2023Year ended 3/31/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,894$3,098-6.6
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Sony Group Corp. ranked No. 70 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Sony Group Corp. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20074,115.05.3
    20084,364.05.7
    20094,135.05.3
    20104,638.05.5
    20114,525.05.5
    20124,260.05.2
    20134,739.06.1
    20144,066.75.4
    20153,259.74.8
    20163,365.34.8
    20173,676.24.8
    20183,477.24.4
    20193,307.04.4
    20202,464.92.9
    20213,098.13.5
    20222,894.43.4
    Fiscal years ended March. Converted to dollars.

    2022: Year ended March 2023.

    Ad costs:

    Stated worldwide "advertising costs" (included in "selling, general and administrative expenses").

    2022: 391.131 billion yen.
    2021: 347.709 billion yen.
    2020: 261.391 billion yen (restated in 2022 from 260.068 billion yen).
    2019: 359.458 billion yen.
    2018: 385.500 billion yen.
    2017: 407.106 billion yen.
    2016: 363.815 billion yen.
    2015: 391.326 billion yen.
    2014: 444.444 billion yen.
    2013: 474.372 billion yen.
    2012: 354.981 billion yen.
    2011: 357.106 billion yen.
    2010: 396.425 billion yen.
    2009: 383.540 billion yen.
    2008: 436.412 billion yen.
    2007: 468.674 billion yen.

    Ad spending as percent of sales:

    Worldwide "advertising costs" as percent of "sales and operating revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific704.1884.0-20.4
    Europe178.3120.947.5
    Latin America2.62.8-7.2
    Canada0.0NANA
      Subtotal media outside the U.S.884.91,007.7-12.2
      U.S. media spending492.3503.6-2.3
      Worldwide measured media$1,377.2$1,511.3-8.9
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Sony Group Corp. (NYSE: SONY)
    WorldwideYear ended 3/31/2023Year ended 3/31/2022% chg
    Sales$85,395$88,401-3.4
    Earnings6,9357,860-11.8
    GEOGRAPHIC SALES (year ended 3/31/2023)
    Region ($ in millions)Year ended 3/31/2023Year ended 3/31/2022% chg
    U.S.25,17024,6452.1
    Japan19,92124,630-19.1
    Europe16,20816,663-2.7
    Asia Pacific11,56910,24013.0
    China6,3306,870-7.9
    Other areas6,1965,35315.7
    DIVISION SALES (year ended 3/31/2023)
    Division or segment sales ($ in millions)Year ended 3/31/2023Year ended 3/31/2022% chg
    Game and network services26,97024,41110.5
    ET&S18,32320,842-12.1
    Financial services10,76413,666-21.2
    Imaging and sensing solutions10,3769,5918.2
    Music10,2179,9522.7
    Pictures10,13411,039-8.2
    Other648880-26.3
    Corporate-2,036-1,981NA
    Connections
    Sony Group Corp.
    Ticker: NYSE SONY
    1-7-1 Konan, Minato-Ku, Tokyo, Japan 108-0075/Phone: 81 3 6748 2111.
    URL: https://www.sony.net
    Facebook: https://www.facebook.com/sony
    X (formerly Twitter): @Sony
    Divisions, key executives and agencies

Stellantis

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$3,676$4,282-14.1
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Stellantis ranked No. 27 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Stellantis to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa1.90.1NA
    Asia and Pacific20.011.969.1
    Europe1,627.81,788.8-9.0
    Latin America66.547.340.6
    Canada34.341.6-17.6
      Subtotal media outside the U.S.1,750.61,889.7-7.4
      U.S. media spending700.6569.023.1
      Worldwide measured media$2,451.2$2,458.6-0.3
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Stellantis (EPA: STLA)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$189,341$180,0125.2
    Earnings20,28916,97419.5
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    North America90,11582,5239.2
    Enlarged Europe66,74869,889-4.5
    South America16,46812,63930.3
    Middle East and Africa6,8036,15510.5
    China, India and Asia Pacific4,7504,7100.8
    Other3,3413,2283.5
    Maserati2,4462,3922.3
    Unallocated and eliminaions-1,329-1,524NA
    Connections
    Stellantis
    Ticker: EPA STLA
    Singaporestraat 92-100, Lijnden, Netherlands P7 1175 RA/Phone: 31 20 3421 707.
    URL: https://www.stellantis.com
    Facebook: https://www.facebook.com/stellantis
    X (formerly Twitter): @stellantis
    Divisions, key executives and agencies

Suntory Holdings (Beam Suntory)

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$3,178$3,452-7.9
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Suntory Holdings including Beam Suntory.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20163,297.717.0
    20173,295.217.1
    20183,443.916.9
    20193,538.316.8
    20203,295.516.7
    20213,452.016.6
    20223,178.415.6
    Ad costs:

    Suntory Holdings' stated worldwide "advertising and sales promotion expenses" converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    2022: 414.763 billion yen.
    2021: 378.682 billion yen.
    2020: 351.704 billion yen.
    2019: 385.853 billion yen.
    2018:380.118 billion yen.
    2017: 369.414 billion yen.
    2016: 357.663 billion yen.

    Ad spending as percent of sales:

    Suntory Holdings' worldwide "advertising and sales promotion expenses" as percent of expenses as percent of "revenue (excluding excise taxes)."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.01.3-97.9
    Asia and Pacific1,710.91,975.6-13.4
    Europe147.5168.6-12.5
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.1,858.42,145.5-13.4
      U.S. media spending77.477.10.4
      Worldwide measured media$1,935.7$2,222.6-12.9
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Suntory Holdings (Beam Suntory) (TYO: 2587)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$20,375$20,836-2.2
    Earnings1,4451,4172.0
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Japan9,95811,032-9.7
    Asia and Oceana3,8343,6146.1
    Americas3,6173,3079.4
    Europe2,9662,8832.9
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Beverages and food11,07211,521-3.9
    Alcoholic beverages7,1709,641-25.6
    Other2,1332,168-1.6
    Connections
    Suntory Holdings (Beam Suntory)
    Ticker: TYO 2587
    2-3-3 Daiba, Minato-ku, Tokyo, Japan 135-8631/Phone: 81 3 5579 1000.
    URL: https://www.suntory.com
    Facebook: https://www.facebook.com/suntoryglobal
    X (formerly Twitter): @SuntoryGlobal
    Divisions, key executives and agencies

Take-Two Interactive Software

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 3/31/2023Year ended 3/31/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,325$1,13117.1
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Take-Two Interactive Software ranked No. 73 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Take-Two Interactive Software to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2016173.99.8
    2017140.67.8
    2018249.39.3
    2019285.69.2
    2020241.17.1
    2021297.38.5
    20221,212.522.7
    Fiscal years.

    Take-Two bought Zynga, a developer of mobile games, on May 23, 2022.

    Ad costs:

    Stated "advertising, marketing and other promotional expenses."

    Ad spending as percent of sales:

    "Advertising, marketing and other promotional expenses" as percent of "net revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.0.0NANA
      U.S. media spending93.574.126.2
      Worldwide measured media$93.5$74.126.2
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Take-Two Interactive Software (Nasdaq: TTWO)
    WorldwideYear ended 3/31/2023Year ended 3/31/2022% chg
    Sales$5,728$6,313-9.3
    Earnings76762223.4
    Connections
    Take-Two Interactive Software
    Ticker: Nasdaq TTWO
    110 W. 44th St., New York, N.Y. 10036/Phone: .
    URL: https://www.take2games.com
    Divisions, key executives and agencies

Target Corp.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 1/28/2023Year ended 1/30/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,500$1,5000.0
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Target Corp. ranked No. 35 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Target Corp. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20071,195.01.9
    20081,233.02.0
    20091,167.01.8
    20101,292.02.0
    20111,360.02.0
    20121,389.01.9
    20131,548.02.2
    20141,600.02.2
    20151,434.01.9
    20161,465.02.1
    20171,457.02.0
    20181,494.02.0
    20191,647.02.1
    20201,500.01.6
    20211,500.01.4
    20221,500.01.4
    Fiscal years. 2022: Year ended Jan. 28, 2023.

    Ad costs:

    Worldwide "net advertising costs."

    Ad spending as percent of sales:

    Worldwide "net advertising costs" as percent of "sales."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.0.0NANA
      U.S. media spending1,531.01,329.115.2
      Worldwide measured media$1,531.0$1,329.115.2
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Target Corp. (NYSE: TGT)
    WorldwideYear ended 1/28/2023Year ended 1/30/2022% chg
    Sales$109,120$106,0052.9
    Earnings2,7806,946-60.0
    Connections
    Target Corp.
    Ticker: NYSE TGT
    1000 Nicollet Mall, Minneapolis, Minn. 55403/Phone: (612) 304-6073.
    URL: https://www.target.com
    Divisions, key executives and agencies

Tencent Holdings

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,795$4,856-42.4
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Promotion and advertising expenses.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    201082.52.8
    2011217.54.9
    2012317.04.6
    2013629.16.4
    2014949.67.4
    2015935.65.7
    20161,388.66.1
    20172,022.15.7
    20182,999.46.3
    20192,376.14.3
    20203,855.45.5
    20214,856.55.6
    20222,795.13.4
    Ad costs:

    Stated worldwide "promotion and advertising expenses" converted to U.S. dollars by Ad Age Datacenter at average exchange rates.

    2022: 18.764 billion renminbi.
    2021: 31.335 billion renminbi.
    2020: 26.596 billion renminbi.
    2019: 16.405 billion renminbi.
    2018: 19.806 billion renminbi.
    2017: 13.661 billion renminbi.
    2016: 9.219 billion renminbi.
    2015: 5.814 billion renminbi.
    2014: 5.833 billion renminbi.
    2013: 3.894 billion renminbi.
    2012: 1.998 billion renminbi.
    2011: 1.404 billion renminbi.
    2010: 558 million renminbi.

    Ad spending as percent of sales:

    Worldwide"promotion and advertising expenses" as percent of worldwide "revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific42.242.6-0.8
    Europe16.419.8-17.3
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.58.662.4-6.1
      U.S. media spending33.129.512.4
      Worldwide measured media$91.8$91.9-0.1
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Tencent Holdings (HKG: 0700)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$82,607$86,810-4.8
    Earnings17,22719,185-10.2
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Mainland China74,85979,614-6.0
    Others7,7497,1967.7
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Value-added services42,83645,189-5.2
    Fin tech and business services26,37626,688-1.2
    Online advertising12,32313,742-10.3
    Others1,0721,191-10.0
    Connections
    Tencent Holdings
    Ticker: HKG 0700
    Tencent Binhai Building, No.33 Haitian Second Road, Nanshan District, Shenzhen, China 518054/Phone: 86 755 8601 3388.
    URL: https://www.tencent.com
    X (formerly Twitter): @TencentGlobal
    Divisions, key executives and agencies

Toyota Motor Corp.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 3/31/2023Year ended 3/31/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$4,334$4,408-1.7
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Toyota Motor Corp. ranked No. 32 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Toyota Motor Corp. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20103,614.21.6
    20113,860.71.6
    20124,003.51.5
    20134,189.91.6
    20143,981.61.6
    20154,073.71.7
    20164,151.21.6
    20174,602.21.7
    20184,420.61.6
    20194,331.81.6
    Figures are for fiscal years ended March 31. Figures converted to dollars at average exchange rates by Ad Age Datacenter.

    2020: Year ended March 2021; advertising costs not available.
    2019: Year ended March 2020.
    2018: Year ended March 2019.
    2017: Year ended March 2018.
    2016: Year ended March 2017.
    2015: Year ended March 2016.
    2014: Year ended March 2015.
    2013: Year ended March 2014.
    2012: Year ended March 2013.
    2011: Year ended March 2012.
    2010: Year ended March 2011.
    2009: Year ended March 2010.
    2008: Year ended March 2009.
    2007: Year ended March 2008.
    2006: Year ended March 2007.

    Sales:

    Total net revenue.

    Ad costs:

    Stated worldwide "advertising costs." Advertising costs exclude Toyota's spending on sales incentives. Toyota's sales incentive programs principally consist of cash payments to dealers based on vehicle volume or a model sold by a dealer during a given period of time. Sales incentives are an integral part of Toyota's sales-promotion spending.

    Stated worldwide advertising costs in yen:

    2020: Advertising costs not available.
    2019: 470.849 billion yen.
    2018: 490.093 billion yen.
    2017: 509.653 billion yen.
    2016: 448.780 billion yen.
    2015: 489.036 billion yen.
    2014: 435.150 billion yen.
    2013: 419.409 billion yen.
    2012: 330.870 billion yen.
    2011: 304.713 billion yen.
    2010: 308.903 billion yen.
    2009: 304.375 billion yen.
    2008: 389.242 billion yen.
    2007: 484.508 billion yen.
    2006: 451.182 billion yen.

    Ad spending as percent of sales:

    Worldwide "advertising costs" as percent of worldwide "total net revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa16.025.4-37.1
    Asia and Pacific1,125.81,170.6-3.8
    Europe563.8796.9-29.2
    Latin America0.0NANA
    Canada0.034.8-100.0
      Subtotal media outside the U.S.1,705.52,027.6-15.9
      U.S. media spending1,127.31,138.6-1.0
      Worldwide measured media$2,832.8$3,166.2-10.5
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Toyota Motor Corp. (NYSE: TM)
    WorldwideYear ended 3/31/2023Year ended 3/31/2022% chg
    Sales$274,942$279,591-1.7
    Earnings18,44825,613-28.0
    GEOGRAPHIC SALES (year ended 3/31/2023)
    Region ($ in millions)Year ended 3/31/2023Year ended 3/31/2022% chg
    North America99,96797,1013.0
    Japan67,50573,193-7.8
    Asia52,36951,4831.7
    Europe30,32232,898-7.8
    Other24,77924,917-0.6
    DIVISION SALES (year ended 3/31/2023)
    Division or segment sales ($ in millions)Year ended 3/31/2023Year ended 3/31/2022% chg
    Automotive249,949254,220-1.7
    Financial services20,62120,5470.4
    Other4,3724,824-9.4
    Connections
    Toyota Motor Corp.
    Ticker: NYSE TM
    1 Toyota-Cho, Toyota City, Aichi Prefecture, Japan 471-8571/Phone: 81 565 28 2121.
    URL: https://www.global.toyota/en
    Facebook: https://www.facebook.com/toyota.global
    X (formerly Twitter): @ToyotaMotorCorp
    Divisions, key executives and agencies

Uber Technologies

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,700$1,7000.0
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Uber Technologies ranked No. 59 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Uber Technologies to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2016693.020.8
    20171,100.014.9
    20181,300.012.5
    20191,300.010.0
    2020992.08.9
    20211,700.09.7
    20221,700.05.3
    Ad costs:

    Worldwide "advertising expenses."

    Ad spending as percent of sales:

    Worldwide "advertising expenses" as percent of "revenue."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa2.78.0-66.4
    Asia and Pacific27.932.5-14.1
    Europe103.496.17.6
    Latin America0.033.9-100.0
    Canada0.0NANA
      Subtotal media outside the U.S.134.0170.4-21.4
      U.S. media spending263.5468.0-43.7
      Worldwide measured media$397.5$638.4-37.7
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Uber Technologies (NYSE: UBER)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$31,877$17,45582.6
    Earnings-9,141-496NA
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.17,9539,05898.2
    Rest of world9,7097,84623.7
    U.K.4,215551665.0
    Connections
    Uber Technologies
    Ticker: NYSE UBER
    1455 Third St., Floor 4, San Francisco, Calif. 94158/Phone: (415) 612-8582.
    URL: https://www.uber.com
    Facebook: https://www.facebook.com/uber
    X (formerly Twitter): @Uber
    Divisions, key executives and agencies

Verizon Communications

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$3,556$3,3944.8
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Verizon Communications ranked No. 8 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Verizon Communications to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20112,523.02.3
    20122,381.02.1
    20132,438.02.0
    20142,526.02.0
    20152,749.02.1
    20162,744.02.2
    20172,643.02.1
    20182,682.02.0
    20193,071.02.3
    20203,107.02.4
    20213,394.02.5
    20223,556.02.6
    Ad costs:

    Stated worldwide "advertising expense."

    2004: Restated.
    2003: Restated.
    2002: Restated.
    2001: Restated.

    Ad spending as percent of sales:

    Worldwide "advertising expense" as percent of "total operating revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe0.0NANA
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.0.0NANA
      U.S. media spending1,740.61,786.3-2.6
      Worldwide measured media$1,740.6$1,786.3-2.6
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Verizon Communications (NYSE: VZ)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$136,835$133,6132.4
    Earnings21,74822,618-3.8
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Service revenue and other109,625110,449-0.7
    Wireless equipment revenue27,21023,16417.5
    Connections
    Verizon Communications
    Ticker: NYSE VZ
    1095 Avenue of the Americas, New York, N.Y. 10036/Phone: (212) 395-1000.
    URL: https://www.verizon.com
    Facebook: https://www.facebook.com/verizon
    X (formerly Twitter): @verizon
    Divisions, key executives and agencies

Visa

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 9/30/2022Year ended 9/30/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,336$1,13617.6
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Marketing expenses.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20081,016.016.2
    2009918.013.3
    2010964.012.0
    2011870.09.5
    2012873.08.4
    2013876.07.4
    2014900.07.1
    2015872.06.3
    2016869.05.8
    2017922.05.0
    2018988.04.8
    20191,105.04.8
    2020971.04.4
    20211,136.04.7
    20221,336.04.6
    Fiscal years ended September.

    Ad costs:

    Stated worldwide "marketing" expenses (formerly "advertising, marketing and promotion").

    Ad spending as percent of sales:

    Worldwide marketing expenses as percent of net operating revenues.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.81.0-17.9
    Asia and Pacific6.93.4104.5
    Europe89.4109.4-18.3
    Latin America12.514.1-11.7
    Canada0.0NANA
      Subtotal media outside the U.S.109.6127.9-14.3
      U.S. media spending75.8135.5-44.1
      Worldwide measured media$185.4$263.4-29.6
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Visa (NYSE: V)
    WorldwideYear ended 9/30/2022Year ended 9/30/2021% chg
    Sales$29,310$24,10521.6
    Earnings14,95712,31121.5
    GEOGRAPHIC SALES (year ended 9/30/2022)
    Region ($ in millions)Year ended 9/30/2022Year ended 9/30/2021% chg
    International16,45912,94527.1
    U.S.12,85111,16015.2
    DIVISION SALES
    Division or segment sales ($ in millions)Year ended 9/30/2022Year ended 9/30/2021% chg
    Service revenueNA11,475NA
    Client incentivesNA-8,367NA
    International transaction revenueNA6,530NA
    Other revenueNA1,675NA
    Data processing revenueNA12,792NA
    Connections
    Visa
    Ticker: NYSE V
    1 Market Street, Suite 600, San Francisco, Calif. 94105/Phone: (415) 805-4000.
    URL: http://www.visa.com
    Facebook: https://www.facebook.com/visaunitedstates
    X (formerly Twitter): @Visa
    Divisions, key executives and agencies

Volkswagen

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$4,581$4,999-8.4
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Volkswagen ranked No. 89 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Volkswagen to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa17.826.8-33.6
    Asia and Pacific108.2109.6-1.3
    Europe1,306.62,297.8-43.1
    Latin America20.85.6273.1
    Canada0.0NANA
      Subtotal media outside the U.S.1,453.42,439.8-40.4
      U.S. media spending327.5370.1-11.5
      Worldwide measured media$1,780.9$2,809.9-36.6
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Volkswagen (ETR: VOW)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$294,390$296,077-0.6
    Earnings16,69618,257-8.6
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Europe/other markets162,917172,262-5.4
    North America63,33853,61218.1
    Asia Pacific54,23757,597-5.8
    South American16,31613,06324.9
    Other-2,419-457NA
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    Passenger cars199,580204,565-2.4
    Financial services49,39052,024-5.1
    Commercial vehicles41,66135,61017.0
    Power engineering3,7593,879-3.1
    Connections
    Volkswagen
    Ticker: ETR VOW
    Brieffach 1849, Wolfsburg, Germany 38436/Phone: 49 5361 9 0.
    URL: https://www.volkswagenag.com
    Facebook: https://www.facebook.com/vw
    X (formerly Twitter): @VW
    Divisions, key executives and agencies

Walmart

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 1/31/2023Year ended 1/31/2022% chg
    Total worldwide advertising spending (U.S. dollars in millions)$4,100$3,9005.1
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Walmart ranked No. 9 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Walmart to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2000574.00.3
    2001618.00.3
    2002676.00.3
    2003966.00.4
    20041,400.00.5
    20051,600.00.5
    20061,900.00.6
    20071,800.00.5
    20082,100.00.5
    20092,400.00.6
    20102,500.00.6
    20112,300.00.5
    20122,300.00.5
    20132,400.00.5
    20142,400.00.5
    20152,500.00.5
    20162,900.00.6
    20173,100.00.6
    20183,500.00.7
    20193,700.00.7
    20203,200.00.6
    20213,900.00.7
    20224,100.00.7
    Fiscal years. 2022: Fiscal year ended Jan. 31, 2023 (Walmart's fiscal 2023). Walmart's fiscal years end Jan. 31.

    Ad costs:

    Stated worldwide "advertising costs."

    2008 (fiscal 2009): Restated from $2.3 billion.
    2007 (fiscal 2008): Restated from $2.0 billion.

    Ad spending as percent of sales:

    Worldwide "advertising costs" as percent of worldwide "net sales."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe0.0NANA
    Latin America10.520.7-49.2
    Canada0.0NANA
      Subtotal media outside the U.S.10.520.7-49.2
      U.S. media spending2,490.72,040.922.0
      Worldwide measured media$2,501.2$2,061.621.3
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Walmart (NYSE: WMT)
    WorldwideYear ended 1/31/2023Year ended 1/31/2022% chg
    Sales$611,289$572,7546.7
    Earnings11,68013,673-14.6
    GEOGRAPHIC SALES (year ended 1/31/2023)
    Region ($ in millions)Year ended 1/31/2023Year ended 1/31/2022% chg
    U.S.508,685470,2958.2
    Non-U.S. operations102,604102,4590.1
    DIVISION SALES (year ended 1/31/2023)
    Division or segment sales ($ in millions)Year ended 1/31/2023Year ended 1/31/2022% chg
    Walmart U.S.420,553393,2476.9
    Walmart International100,983100,9590.0
    Sam's Club84,34573,55614.7
    Connections
    Walmart
    Ticker: NYSE WMT
    702 S.W. Eighth St., Bentonville, Ark. 72716/Phone: (479) 273-4000.
    URL: https://corporate.walmart.com
    Facebook: https://www.facebook.com/walmart
    X (formerly Twitter): @Walmart
    Divisions, key executives and agencies

Walt Disney Co.

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 10/1/2022Year ended 10/2/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$7,200$5,50030.9
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Walt Disney Co. ranked No. 4 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Walt Disney Co. to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    20002,000.07.9
    20012,200.08.7
    20022,300.09.1
    20032,500.09.2
    20043,000.09.8
    20052,900.09.2
    20062,500.07.4
    20072,600.07.3
    20082,900.07.7
    20092,700.07.5
    20102,600.06.8
    20112,800.06.8
    20122,500.05.9
    20132,600.05.8
    20142,800.05.7
    20152,600.05.0
    20162,900.05.2
    20172,600.04.7
    20182,800.04.7
    20194,300.06.2
    20204,700.07.2
    20215,500.08.2
    20227,200.08.7
    Fiscal years. 2022: Year ended Oct. 1, 2022.

    Disney's fiscal year ends on the Saturday closest to Sept. 30.

    Walt Disney Co. acquired 21st Century Fox on March 20, 2019.

    Ad costs:

    Stated worldwide "advertising expense."

    Ad spending as percent of sales:

    Stated worldwide "advertising expense" as percent of "revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa9.37.228.5
    Asia and Pacific199.2162.222.8
    Europe856.2793.67.9
    Latin America94.4140.3-32.7
    Canada43.747.2-7.3
      Subtotal media outside the U.S.1,202.71,150.44.5
      U.S. media spending3,018.62,593.016.4
      Worldwide measured media$4,221.3$3,743.412.8
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Walt Disney Co. (NYSE: DIS)
    WorldwideYear ended 10/1/2022Year ended 10/2/2021% chg
    Sales$82,722$67,41822.7
    Earnings3,1451,99557.6
    GEOGRAPHIC SALES (year ended 10/1/2022)
    Region ($ in millions)Year ended 10/1/2022Year ended 10/2/2021% chg
    Americas68,21854,15726.0
    Europe8,6806,69029.7
    Asia Pacific6,8476,5714.2
    DIVISION SALES (year ended 10/1/2022)
    Division or segment sales ($ in millions)Year ended 10/1/2022Year ended 10/2/2021% chg
    Media and Entertainment Distribution55,04050,8668.2
    Parks, Experiences and Products28,70516,55273.4
    Connections
    Walt Disney Co.
    Ticker: NYSE DIS
    500 S. Buena Vista St., Burbank, Calif. 91521/Phone: (818) 560-1000.
    URL: https://www.thewaltdisneycompany.com
    Facebook: https://www.facebook.com/disney
    X (formerly Twitter): @WaltDisneyCo
    Divisions, key executives and agencies

Warner Bros. Discovery

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$3,395$4,831-29.7
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Warner Bros. Discovery ranked No. 19 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Warner Bros. Discovery to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    2018355.03.4
    2019390.03.5
    2020412.03.9
    20211,247.010.2
    20222,519.07.4
    Discovery on April 8, 2022, changed its name to Warner Bros. Discovery after merging with WarnerMedia, formerly a business segment of AT&T.

    Ad costs:

    Stated worldwide "advertising costs."

    Ad spending as percent of sales:

    Stated worldwide "advertising costs" as percent of "total revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa15.226.0-41.5
    Asia and Pacific35.035.9-2.6
    Europe400.5349.214.7
    Latin America16.210.653.5
    Canada0.0NANA
      Subtotal media outside the U.S.466.9421.710.7
      U.S. media spending1,584.42,319.3-31.7
      Worldwide measured media$2,051.3$2,741.0-25.2
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Warner Bros. Discovery (Nasdaq: WBD)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$45,533$38,72617.6
    Earnings-2,983NANA
    GEOGRAPHIC SALES
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S. WBNA24,769NA
    U.S. DiscoveryNA7,728NA
    DIVISION SALES (year ended 12/31/2022)
    Division or segment sales ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    OtherNA993NA
    ContentNA13,138NA
    AdvertisingNA10,601NA
    DistributionNA20,801NA
    Connections
    Warner Bros. Discovery
    Ticker: Nasdaq WBD
    230 Park Avenue South, New York, N.Y. 10003.
    URL: https://wbd.com
    Facebook: https://www.facebook.com/wbd
    X (formerly Twitter): @wbd
    Divisions, key executives and agencies

Wayfair

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$1,473$1,3786.9
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter.
    Wayfair ranked No. 43 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Wayfair to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    WORLDWIDE AD SPENDING AS PERCENT OF SALES
    YearAd costs ($ in millions)Worldwide ad spending as percent of sales
    201265.510.9
    2013108.511.8
    2014191.314.5
    2015278.212.4
    2016409.112.1
    2017550.011.6
    2018774.211.4
    20191,095.812.0
    20201,412.210.0
    20211,378.010.1
    20221,473.012.1
    Ad costs:

    Stated worldwide "advertising costs," also called "advertising expense."

    Ad costs as percent of sales:

    Worldwide "advertising costs" as percent of worldwide "net revenues."
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa0.0NANA
    Asia and Pacific0.0NANA
    Europe76.567.014.1
    Latin America0.0NANA
    Canada0.0NANA
      Subtotal media outside the U.S.76.567.014.1
      U.S. media spending862.2766.212.5
      Worldwide measured media$938.7$833.212.7
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Wayfair (NYSE: W)
    WorldwideYear ended 12/31/2022Year ended 12/31/2021% chg
    Sales$12,218$13,708-10.9
    Earnings-1,331-131NA
    GEOGRAPHIC SALES (year ended 12/31/2022)
    Region ($ in millions)Year ended 12/31/2022Year ended 12/31/2021% chg
    U.S.10,46411,249-7.0
    International1,7542,459-28.7
    Connections
    Wayfair
    Ticker: NYSE W
    4 Copley Place, Floor 7, Boston, Mass. 02116/Phone: (617) 532-6100.
    URL: https://www.wayfair.com
    Facebook: https://www.facebook.com/wayfair
    X (formerly Twitter): @Wayfair
    Divisions, key executives and agencies

Yum Brands

  • TOTAL WORLDWIDE AD SPENDING
    WorldwideYear ended 12/30/2022Year ended 12/30/2021% chg
    Total worldwide advertising spending (U.S. dollars in millions)$2,964$2,9091.9
    Click the Profiles tab at the top of this page to read more about this marketer. Source: Ad Age Datacenter. Total worldwide advertising spending: Estimated worldwide systemwide ad spending including spending from franchisees and company-owned restaurants. Yum Brands in November 2016 spun off China operations as Yum China Holdings.
    Yum Brands ranked No. 44 in 2022 total U.S. ad spending in Ad Age's Leading National Advertisers report. Click on Yum Brands to see U.S. ad spending, brands and agencies from Ad Age's Marketer Trees 2023.
    MEASURED-MEDIA SPENDING BY REGION IN 2022
    By region ($ in millions)20222021% chg
    Africa31.331.7-1.0
    Asia and Pacific101.885.718.7
    Europe187.3183.91.8
    Latin America2.52.5-1.5
    Canada0.0NANA
      Subtotal media outside the U.S.322.9303.96.3
      U.S. media spending875.7992.2-11.7
      Worldwide measured media$1,198.5$1,296.1-7.5
    For data sources by country, click Sources tab at top of page. U.S. measured media from Vivvix.
    SALES AND EARNINGS ($ in millions from public documents)
    Yum Brands (NYSE: YUM)
    WorldwideYear ended 12/30/2022Year ended 12/30/2021% chg
    Sales$6,842$6,5843.9
    Earnings1,3251,575-15.9
    GEOGRAPHIC SALES (year ended 12/30/2022)
    Region ($ in millions)Year ended 12/30/2022Year ended 12/30/2021% chg
    U.S.3,8793,6466.4
    Rest of world2,6872,6411.7
    China276297-7.1
    Connections
    Yum Brands
    Ticker: NYSE YUM
    1441 Gardiner Lane, Louisville, Ky. 40213/Phone: (502) 874-8300.
    URL: https://www.yum.com
    Facebook: https://www.facebook.com/yumbrands
    X (formerly Twitter): @yumbrands
    Divisions, key executives and agencies

Marketer profiles for Ad Age World's 100 Largest Advertisers in 2022.

Unilever [This record free to all users]

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Unilever is a personal care, household and food products marketer with headquarters in London.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of the company's "brand and marketing investment."

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Unilever's stated worldwide "brand and marketing investment" costs converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    Deals and strategic moves:

    Tea business:

    Unilever in June 2022 sold its global tea business, Ekaterra, to buyout firm CVC Capital Partners for 4.6 billion euros ($4.8 billion). The business had 2020 revenue of about 2 billion euros ($2.3 billion). Brands included Lipton, Brooke Bond, PG Tips, Pukka, Tazo and T2.

    The sale excluded Unilever's tea business in India, Nepal and Indonesia as well as Unilever's interests in the Pepsi Lipton ready-to-drink tea joint ventures.

    Unilever in January 2020 had announced a strategic review of its global tea business. In announcing the move, the company said: "Unilever has a long-established position as the biggest tea business in the world with brands such as Lipton, Brooke Bond and PG Tips; and has expanded into the premium, fruit and herbal market in recent years. However, sales of traditional black tea, the largest segment of the category, have been in decline in developed markets for several years due to changing consumer preferences."

    The company said the strategic review would "consider all options for Unilever's tea business."

    Unilever acquired control of Lipton's U.S. tea business in 1938 and then bought Lipton International in 1971, giving Unilever full ownership of the Lipton brand. Unilever expanded its tea portfolio in 1984 by acquiring Brooke Bond Group, marketer of PG Tips, the U.K.'s top-selling tea brand.

    Unilever's GSK Consumer Healthcare takeover proposal:

    GSK in January 2022 said it had received three "unsolicited, conditional and non-binding proposals" from Unilever to buy GSK Consumer Healthcare business, a joint venture of GSK (68% ownership) and Pfizer (32%).

    GSK said the latest proposal, on Dec. 20, 2021, had a total acquisition value of 50 billion pounds ($66 billion) in cash and Unilever stock. GSK said it rejected all three proposals because "they fundamentally undervalued the Consumer Healthcare business and its future prospects." Unilever in January 2022 said it would not increase its offer.

    GSK in July 2022 spun off its Consumer Healthcare business as a standalone public company, Haleon.

    Elida Beauty:

    Unilever in April 2021 put a number of smaller beauty and personal care brands under a dedicated management team operating as Elida Beauty. Brands included Q-Tips, Caress, Tigi, Timotei, Impulse and Monsavon with combined 2020 revenue of about 600 million euros ($685 million) in 2020.

    Unilever in July 2021 said: "We are exploring options for these brands with a focus on maximising value creation."

    Unilever in February 2022 said: "After reviewing options for Elida Beauty, we concluded that this business will create the most value managed as an independent unit within Unilever, with dedicated focus under our new operating model."

    Kraft Heinz Co. takeover proposal:

    U.S. food marketer Kraft Heinz Co. on Feb. 17, 2017, disclosed a $143 billion offer to buy Unilever.

    Kraft Heinz withdrew its offer just two days later, on Feb. 19, 2017, after Unilever rejected its takeover overtures.

    Spreads business:

    Unilever in July 2018 sold its global spreads business to buyout firm KKR & Co. (Upfield Holdings) for 6.825 billion euros ($7.971 billion). At the same time, Unilever sold its spreads business in Southern Africa to Remgro.

    Unilever announced the KKR deal in December 2017.

    Unilever's spreads business included brands such as Becel, Blue Band, Country Crock, Flora, I Can't Believe It's Not Butter, ProActiv and Rama. It operated across 66 countries and had 2016 turnover of 3.032 billion ($3.357 billion).

    Unilever in April 2017 put the worldwide spreads (margarine) business on the block. In announcing its intent to exit that business, Unilever said: "The underlying category remains challenged in developed markets, and we have now taken the decision to launch a process to either sell or demerge spreads."

    Spreads was essentially the first name of Unilever. The company was formed in 1930 by the merger of Dutch food marketer Margarine Unie and U.K. soap marketer Lever Brothers.

    Other deals and strategic moves:

    Unilever in June 2023 signed a deal to buy Yasso Holdings, a premium frozen Greek yogurt brand marketed in the U.S. The deal was to close in third-quarter 2023.

    Unilever in May 2023 sold its Suave brand in North America to buyout firm Yellow Wood Partners for an undisclosed price. The Suave beauty and personal care brand included hair care, skin care, skin cleansing and deodorant products. Suave continued to be owned and operated by Unilever outside of the U.S. and Canada. Unilever acquired Suave in 1996 as part of the purchase of Helene Curtis Industries.

    Unilever in July 2022 bought an additional 67% stake in Nutrafol, a marketer of hair wellness products, for 811 million euros ($828 million), increasing its ownership to 80%. Unilever previously held a minority stake (13.2%) in Nutrafol through Unilever Ventures. Nutrafol, backed by buyout firm L Catterton, is based in New York and was founded in 2016.

    The company in August 2021 purchased Paula's Choice, a skin-care brand, from buyout firm TA Associates. The brand was started in 1995 by Paula Begoun.

    Unilever in April 2021 agreed to buy Onnit, a holistic wellness and lifestyle products marketer based in Austin, Texas, and founded in 2010.

    The company in 2020 bought SmartyPants Vitamins, a U.S.-based vitamin, mineral and supplement company based in Los Angeles and founded in 2011.

    Unilever in 2020 bought Liquid I.V., a health-science nutrition and wellness company based in El Segundo, California, and founded in 2012.

    Unilever in April 2020 bought the health food drinks portfolio of GSK in India and 20 other predominantly Asian markets for about 3.3 billion euros ($3.7 billion). The business had 2018 turnover of about 500 million euros ($591 million) primarily from products under the Horlicks and Boost brands.

    The company in October 2019 acquired 75% of FruFru, a healthy food business in Romania.

    Unilever in October 2019 acquired 70% of Lenor, a premium skin care business based in Japan.

    Unilever in August 2019 bought Astrix, a Bolivian manufacturer of home and personal care brands. Astrix was founded in 1993.

    Unilever in July 2019 bought Tatcha, a skin care brand founded in San Francisco in 2009.

    The company in June 2019 bought Fluocaril and Parogencyl, oral care businesses in France and Spain.

    Unilever in May 2019 bought Olly Nutrition, a U.S.-based marketer of vitamins, minerals and supplements. San Francisco-based Olly was founded in 2014.

    The company in April 2019 bought Garancia, a French brand of facial and body skin care products founded in 2004.

    Unilever in March 2019 sold its Alsa baking and dessert business to Dr. Oetker, a food marketer based in Germany.

    The company in February 2019 bought Graze, a healthy snacking business in the U.K.

    Unilever in January 2019 bought The Laundress, a premium eco-friendly line of detergent, fabric care, and home cleaning products in the U.S.

    Unilever in December 2018 acquired Vegetarian Butcher, a vegetarian meat replacement foods business in the Netherlands. Unilever said: "The acquisition fits with Unilever's strategy to expand its portfolio into plant-based foods responding to the growing trend of vegetarian and vegan meals."

    The company in December 2018 bought Denny Ice, an ice cream business in Bulgaria.

    Unilever in November 2018 bought Betty Ice, an ice cream business in Romania.

    Unilever in October 2018 bought 75% of Equilibra, an Italian personal care and nutritional supplements brand. Equilibra was founded in 1987.

    The company in September 2018 bought Adityaa Milk, an ice cream business in India.

    Unilever in February 2018 purchased the personal care and home care brands of Quala, a Latin American consumer goods company. Unilever said the acquired brands had combined turnover of more than $400 million in 2016.

    Unilever in December 2017 bought Schmidt's Naturals, a U.S. personal care products marketer.

    The company in December 2017 bought Sundial Brands, a hair care and skin care company.

    Unilever in December 2017 bought Tazo, a tea brand, from Starbucks Corp. for $384 million. Tazo was sold primarily in grocery, mass and convenience channels and offered in formats including packaged teas, K-Cup pods, and bottled ready-to-drink teas. Tazo was founded in 1994; Starbucks bought it in 1999 for $8.1 million. Starbucks said it sold Tazo so Starbucks could focus its tea business on its super premium tea brand, Teavana.

    Unilever in December 2017 bought Mae Terra, a Brazilian natural and organic food business.

    Unilever in November 2017 bought 98% of Carver Korea, a skin care business in North Asia, for 2.27 billion euros ($2.71 billion) from Bain Capital Private Equity and Goldman Sachs. Unilever bought the remaining 2% in January 2018.

    Unilever in September 2017 bought Weis, an Australian ice cream business.

    Unilever in September 2017 bought Pukka Herbs, an organic herbal tea business based in the U.K. and founded in 2001.

    The company in August 2017 bought Hourglass, a luxury color cosmetics brand launched in 2004.

    Unilever in August 2017 bought 60% of EAC Myanmar, a home care business, to form Unilever EAC Myanmar Co.

    Unilever in October 2016 bought Seventh Generation, a Vermont-based marketer of green-friendly home and personal care products. Price tag wasn't disclosed.

    Unilever in August 2016 bought Dollar Shave Club, a U.S. direct marketer of razor blades, for an undisclosed price. Unilever said Dollar Shave Club had 2015 turnover of $152 million with expected 2016 turnover above $200 million. Venice, California-based Dollar Shave Club was founded in 2012.

    Unilever in September 2015 bought Murad, a clinical skin-care brand founded in Los Angeles in 1989 by Howard Murad, a dermatologist, pharmacist and UCLA professor. Price tag wasn't disclosed. This followed Unilever's 2015 acquisitions of three other "prestige" personal care brands, Dermalogica, Kate Somerville and REN.

    Alberto Culver acquisition (2011):

    Unilever completed its acquisition of personal care products marketer Alberto Culver Co. for $3.7 billion cash on May 10, 2011. With the acquisition, Unilever said it became "the world's leading company in hair conditioning, the second largest in shampoo," behind P&G, "and the third largest in styling."

    Management and employees:

    Hein Schumacher joined Unilever as CEO designate on June 1, 2023, and became CEO on July 1, 2023.

    Schumacher succeeded Alan Jope, who retired after five years in the role.

    Schumacher was age 51 at the time of Unilever's hiring announcement in January 2023.

    Before joining Unilever, Schumacher was CEO of Royal FrieslandCampina, a global dairy cooperative based in the Netherlands.

    Prior to joining Royal FrieslandCampina as chief financial officer in 2014, Hein worked for H.J. Heinz Co. for more than a decade in the U.S., Europe and Asia, including four years in China.

    Schumacher began his career in finance at Unilever before joining retailer Royal Ahold.

    Schumacher holds a master's degree in political science and international relations from the University of Amsterdam.

    Stock:

    Unilever shares are listed in London, Amsterdam and New York.

    History:

    Unilever was formed Jan. 1, 1930, by the merger of Dutch food marketer Margarine Unie and U.K. soap marketer Lever Brothers.

    Unilever operated under a dual-headed legal structure with two parent companies, U.K.-based Unilever Plc and Netherlands-based Unilever NV, from its formation in 1930 until Nov. 29, 2020. At that point, Unilever unified its legal structure under a single parent company, Unilever Plc. The company implemented the plan through a merger of Unilever Plc and Unilever NV. Unilever NV shareholders received one new Unilever Plc share in exchange for each Unilever NV share.

    https://www.unilever.com

AbbVie

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    AbbVie is a prescription-drug marketer.

    AbbVie launched as an independent company Jan. 1, 2013, when Abbott Laboratories spun off Abbott's research-based global pharmaceuticals business.

    AbbVie in May 2020 bought Allergan, a pharmaceutical marketer based in Dublin.

    Business segments and operations:

    AbbVie in recent years was heavily reliant on one drug, Humira.

    AbbVie launched in 2013 with Abbott's portfolio of proprietary pharmaceuticals and biologics including brands such as Humira, AndroGel, TriCor/Trilipix, Niaspan, Lupron and Synthroid.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Ad Age Datacenter estimates.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are AbbVie's stated "advertising expenses."

    Deals and strategic moves:

    Allergan acquisition:

    AbbVie on May 8, 2020, bought Allergan Plc, a pharmaceutical marketer based in Dublin, for total consideration of about $64.1 billion.

    Allergan Plc and Pfizer on April 6, 2016, terminated a plan to merge. That merger, announced Nov. 23, 2015, would have created the world's biggest pharma marketer.

    Other deals and strategic moves:

    AbbVie in October 2014 terminated a $54 billion deal to buy Dublin-based pharma firm Shire. Japan's Takeda Pharmaceutical Co. in January 2019 acquired Shire.

    Corporate restructuring:

    Abbott in October 2011 announced a plan to split into two publicly traded companies, one in diversified medical products and the other in research-based pharmaceuticals.

    Abbott in March 2012 said the research-based pharma firm would be named AbbVie (pronounced abb-vee).

    Abbott completed the spinoff Jan. 1, 2013. Abbott, excluding AbbVie, had 2012 pro forma revenue of about $21.5 billion. AbbVie reported 2012 pro forma revenue of about $18.4 billion.

    Abbott's operations, after the AbbVie spinoff, included diagnostic products; adult and pediatric nutritional products; vascular products; as well as branded generic drugs marketed outside the U.S.

    History:

    Abbott Laboratories was founded in 1900.

    Abbott Laboratories spun off AbbVie as an independent company Jan. 1, 2013.

    AbbVie in May 2020 bought Allergan Plc.

    Allergan history:

    The company was founded in the U.S. in 1983 as Watson Pharmaceuticals.

    Watson Pharmaceuticals expanded through acquisitions, including the October 2012 purchase of Switzerland-based Actavis Group. Watson Pharmaceuticals changed its name to Actavis Inc. in January 2013.

    Actavis Inc. in October 2013 bought Warner Chilcott, a pharmaceutical company in Ireland. Under a so-called corporate inversion that cut its tax rate, Actavis Inc. moved its corporate headquarters to Ireland from New Jersey and became Actavis Plc.

    Actavis Plc bought Allergan Inc. in March 2015. Actavis Plc in June 2015 changed its name to Allergan Plc.

    Allergan Inc.:

    Allergan Pharmaceuticals Inc. was founded in 1950 to market eye drops and other products.

    Allergan became a public company in 1970; merged in 1980 with SmithKline Beckman (now GSK); and again became an independent company in 1989. Allergan in 2002 spun off its ophthalmic surgical and contact lens care businesses as Advanced Medical Optics. Abbott Laboratories in 2009 bought Advanced Medical Optics, which was renamed Abbott Medical Optics.

    Abbott sold Abbott Medical Optics to Johnson & Johnson in 2017.

    https://www.abbvie.com

Adidas

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Adidas is a sports products marketer based in Germany.

    The company in recent years has focused on its Adidas brand.

    Adidas in February 2022 sold its Reebok brand to Authentic Brands Group.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Leading National Advertisers report and Marketer Trees database is Ad Age Datacenter's estimate of the U.S. portion of the company's stated worldwide "marketing and point-of-sale expenses."

    Ad Age modeled spending on "marketing and point-of-sale expenses" beginning in the June 2019 report.

    Ad Age previously modeled spending on the company's "marketing investments" (formerly called "marketing working budget").

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the World's Largest Advertisers report and related database are stated worldwide "marketing and point-of-sale expenses" for Adidas converted to dollars at average exchange rates by Ad Age Datacenter.

    The company reported 2022 worldwide marketing and point-of-sale expenses of 2.763 billion euros ($2.913 billion).

    Ad Age began modeling spending on "marketing and point-of-sale expenses" in the December 2019 report.

    Ad Age previously modeled spending on the company's "marketing investments" (formerly called "marketing working budget").

    Adidas began reporting rolled up worldwide "marketing and point-of-sale expenses" in its annual report for year ended December 2018. This includes promotion and communication spending such as promotion contracts, advertising, events and other communication activities. The point-of-sale component of this expense line includes advertising and promotion at the point of sale as well as store fittings and furniture.

    Adidas previously broke out "marketing investments" and "point-of-sale investments" separately.

    "Marketing investments" was the company's phrase for promotion and communication spending including sponsorship contracts with teams and individual athletes; advertising; public relations; events; and other communications activities.

    Marketing investments excluded "point-of-sale investments" (expenses to support the company's sell-through development at point of sale; formerly called "sales working budget") and "marketing overhead."

    "Marketing investments" in 2017 accounted for 78.3% of worldwide combined spending on "marketing investments" and "point-of-sale investments."

    Historic combined spending on "marketing investments" and "point-of -sale investments" for Adidas:

    2016: 2.410 billion euros (restated) ($2.668 billion). 2015: 2.348 billion euros ($2.608 billion). 2014: 1.923 billion euros ($2.556 billion). 2013: 1.787 billion euros ($2.374 billion)

    In earlier reports, the company broke out marketing investments and point of sale spending by brand as follows:

    Combined spending on marketing investments and point of sale for Adidas brand (not shown in annual report starting with calendar 2017 results):

    2016: 2.102 billion euros ($2.327 billion). 2015: 1.897 billion euros ($2.107 billion). 2014: 1.533 billion euros ($2.038 billion). 2013: 1.400 billion euros ($1.860 billion)

    Combined spending on marketing investments and point of sale for Reebok brand (not shown in annual report starting with calendar 2017 results):

    2016: 265 million euros ($293 million). 2015: 267 million euros ($297 million). 2014: 220 million euros ($292 million). 2013: 203 million euros ($270 million)

    Marketing working budget for the Adidas brand (not shown in annual report starting with calendar 2015 results):

    2014: 1.245 billion euros ($1.655 billion). 2013: 1.147 billion euros ($1.524 billion)

    Marketing working budget for the Reebok brand (not shown in annual report starting with calendar 2015 results):

    2014: 160 million euros ($213 million). 2013: 150 million euros ($199 million)

    Deals and strategic moves:

    Reebok:

    Adidas in February 2022 sold its Reebok brand to Authentic Brands Group for a total purchase price of 1.686 billion euros ($1.9 billion).

    Adidas in February 2021 announced a "formal process aimed at divesting Reebok." The company in December 2020 said it had "begun to assess strategic alternatives for Reebok. These strategic alternatives include both a potential sale of Reebok as well as Reebok remaining a part of the company."Adidas bought Reebok International in January 2006 for $3.6 billion. In addition to the Reebok brand, the acquisition included the Rockport, CCM Hockey and Greg Norman brands, which Adidas later divested for total consideration of about 400 million euros (about $440 million).

    Other deals and strategic moves:

    Adidas in October 2017 sold TaylorMade, a California-based golf equipment brand, and Adams and Ashworth, two smaller golf brands, to a newly formed affiliate of buyout firm KPS Capital Partners for $425 million. Adidas in May 2016, following a strategic review, had said it planned to sell the brands. Adidas continues to market golf apparel and footwear with its Adidas Golf label.

    Adidas in September 2017 sold CCM Hockey, an ice hockey business based in Canada, to a newly formed affiliate of buyout venture Birch Hill Equity Partners for $110 million. Adidas had previously announced it was seeking a buyer.

    Adidas in June 2016 sold its Mitchell & Ness business to Juggernaut Capital Partners, a buyout firm, for $75 million. Mitchell & Ness is a Philadelphia-based marketer of nostalgia headwear and apparel with longstanding licensing agreements with the National Basketball Association, National Hockey League, Major League Baseball and National Football League. Adidas bought Mitchell & Ness in November 2007.

    Adidas in August 2015 bought Runtastic, a European producer of health and fitness apps founded in 2009, for 213 million euros ($233 million).

    Adidas July 31, 2015, sold its Rockport business for $280 million to a new company, Rockport Group, formed by buyout firm Berkshire Partners and athletic shoe marketer New Balance. New Balance contributed its Drydock Footwear business to the new venture, which owns footwear brands Rockport and Drydock's Aravon, Dunham and Cobb Hill. (Drydock was formed in 2011 and assumed control of New Balance's men's and women's casual shoe brands, Dunham and Aravon. Drydock in 2012 launched Cobb Hill, a women's shoe brand.) Rockport Group in May 2018 filed for Chapter 11 bankruptcy reorganization. Rockport Group emerged from bankruptcy in July 2018 under a deal in which buyout firm Charlesbank Capital Partners acquired Rockport Group's assets.

    Adidas in May 2014 had disclosed it was putting its Rockport brand up for sale. Rockport had 2014 net sales of 283 million euros ($376 million). Rockport was founded in 1971 and purchased in 1986 by Reebok International, which Adidas bought in 2006.

    Nike in June 2015 secured rights to outfit the National Basketball Association starting in the 2017-2018 season, replacing Adidas. Nike's NBA contract will run for eight years.

    The company in 2005 sold Salomon Group (including Salomon, Mavic, Bonfire, Cliche and Arc'Teryx) to Amer Sports. Adidas-Salomon then shortened its legal name to Adidas in 2006. Adidas in 1997 had purchased Salomon Group (including the Salomon, TaylorMade, Mavic and Bonfire brands); Adidas at that point took the name Adidas-Salomon.

    The company in November 2011 acquired Stone Age Equipment, the Redlands, California-based marketer of Five Ten, an outdoor action-sports brand, for $25 million cash plus $13 million in contingency payments based on performance.

    History:

    Adidas was founded in 1949 by Adolf Dassler. The company is named after the founder: "Adi" from Adolf and "Das" from Dassler.

    https://www.adidas-group.com/en

Alibaba Group Holding

  • Marketer profile
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    Overview:

    Alibaba Group Holding is an e-commerce company in China.

    Alibaba ranked as the world's third-biggest advertiser in the Ad Age World's Largest Advertisers 2023 report, based on Alibaba spending for the fiscal year ended March 2023, behind global e-commerce rival Amazon and personal care products marketer L'Oreal.

    Alibaba is based in Hong Kong and registered in the Cayman Islands.

    Business segments and operations:

    Alibaba primarily gets its revenue from commerce-related businesses (including online marketing services, commissions from transactions on its marketplaces and fees from sale of memberships on its wholesale marketplaces).

    Alibaba also generates revenue from digital media and entertainment, cloud computing and other operations.

    Alibaba owns a minority stake in China-based Ant Group Co. Ant operates Alipay, a platform in China for digital payment, digital finance and digital services. Alibaba held a 33% equity interest in Ant as of March 31, 2023. Ant Group Co. formerly was known as Ant Small and Micro Financial Services Group Co.

    Alibaba has a significant focus on business-to-business e-commerce, offering a marketplace for buyers and sellers. In contrast, Chinese e-commerce rival JD.com is primarily focused on business-to-consumer online retailing.

    Alibaba ranked as the world's No. 29 retailer in the Top 250 ranking in Deloitte's Global Powers of Retailing 2023 report based on fiscal 2021 sales for what Deloitte classifies as "new retail and direct sales."Sales and earnings:

    Worldwide figures shown are for stated revenue (sales) and net income (earnings) converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    "Substantially all of the company's revenue is derived from within" China, according to Alibaba's 20-F filing for year ended March 2023.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the World's Largest Advertisers report and related database are Alibaba's stated worldwide "advertising and promotional expenses" converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    Alibaba ranked as the world's third-biggest advertiser in the Ad Age World's Largest Advertisers 2023 report, based on Alibaba spending for the fiscal year ended March 2023, behind global e-commerce rival Amazon and personal care products marketer L'Oreal.

    Alibaba ranked as the world's second-biggest advertiser in the Ad Age World's Largest Advertisers 2022 report, based on Alibaba spending for the fiscal year ended March 2022, behind Amazon.

    Alibaba ranked No. 5 in the Ad Age World's Largest Advertisers 2021 report, based on Alibaba spending for the fiscal year ended March 2021.

    Stated worldwide advertising and promotional expenses:

    2022 (year ended March 2023; fiscal 2023): 76.818 billion renminbi ($11.225 billion).
    2021 (year ended March 2022; fiscal 2022): 91.103 billion renminbi ($14.195 billion).
    2020 (year ended March 2021; fiscal 2021): 57.073 billion renminbi ($8.430 billion).
    2019 (year ended March 2020 ; fiscal 2020): 30.949 billion renminbi ($4.445 billion).
    2018 (year ended March 2019; fiscal 2019): 22.013 billion renminbi ($3.283 billion).
    2017 (year ended March 2018; fiscal 2018): 16.814 billion renminbi ($2.539 billion).
    2016 (year ended March 2017; fiscal 2017): 8.799 billion renminbi ($1.308 billion).
    2015 (year ended March 2016; fiscal 2016): 5.524 billion renminbi ($869 million).
    2014 (year ended March 2015; fiscal 2015): 4.090 billion renminbi ($660 million).
    2013 (year ended March 2014; fiscal 2014): 2.022 billion renminbi ($330 million).
    2012 (year ended March 2013; fiscal 2013): 1.312 billion renminbi ($209 million).
    2011 (year ended March 2012; fiscal 2012): 938 million renminbi ($147 million).

    History:

    Alibaba was founded in 1999.

    https://www.alibabagroup.com

Alphabet (Google)

  • Marketer profile
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    Overview:

    Alphabet is an internet and technology holding company. It is the parent company of Google.

    Google in October 2015 reorganized under a holding company. Under the new structure, Alphabet (Alphabet Inc.) replaced Google Inc. as the publicly traded stock, keeping the ticker symbol GOOG.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Ad Age Datacenter's estimate of U.S. advertising and promotional expenses.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Alphabet's worldwide "advertising and promotional expenses."

    Deals and strategic moves:

    Alphabet holding company:

    Google in August 2015 announced plans to reorganize later in 2015 under a holding company, Alphabet. The reorganization took effect Oct. 2, 2015. Under the new structure, Alphabet Inc. replaced Google Inc. as the publicly traded stock (ticker: GOOG).

    Alphabet is the holding company for Google (Google Services, Google Cloud) and a group of non-Google businesses and holdings that Alphabet collectively refers to as Other Bets.

    Mandiant:

    Alphabet in September 2022 bought Mandiant, a cyber defense venture, for a total purchase price of $6.1 billion. Mandiant became part of Google Cloud and kept the Mandiant brand name.

    Fitbit:

    Alphabet's Google in January 2021 bought Fitbit for about $2.1 billion cash, completing a deal announced in November 2019. Fitbit is a San Francisco-based marketer of wearable connected health and fitness devices.

    Looker:

    Google in 2019 bought Looker, a platform for business intelligence, data applications and embedded analytics, for $2.4 billion. Looker joined Alphabet's Google Cloud business.

    HTC smartphone acquisition:

    Alphabet's Google in January 2018 completed a deal with Taiwan-based mobile phone maker HTC Corp. to buy part of HTC's smartphone team for $1.1 billion cash. Many of the employees that moved to Google already were working on Google's HTC-assembled Pixel smartphones. As part of the deal, Google received a non-exclusive license for HTC intellectual property.

    Motorola acquisition and divestiture:

    Alphabet (formerly Google) on Oct. 30, 2014, completed the sale of Motorola Mobility to Chinese computer firm Lenovo for $2.91 billion. Google announced its deal to sell to Lenovo Jan. 29, 2014. In that announcement, Google said it would retain ownership of "the vast majority of the Motorola Mobility patent portfolio, including current patent applications and invention disclosures." The sale announcement said: "As part of its ongoing relationship with Google, Lenovo will receive a license to this rich portfolio of patents and other intellectual property. Additionally Lenovo will receive over 2,000 patent assets, as well as the Motorola Mobility brand and trademark portfolio."

    The sale came just two years after Google acquired Motorola Mobility Holdings, a marketer of wireless phone and broadband networking products, for about $12.4 billion cash on May 22, 2012. The acquisition, announced in August 2011, included Motorola's valuable cache of patents and was intended to boost Android, Google's mobile operating-system platform. This was Google's largest acquisition to date.

    In announcing the Motorola acquisition, Google said the deal would "enable Google to supercharge the Android ecosystem and will enhance competition in mobile computing. Motorola Mobility will remain a licensee of Android and Android will remain open. Google will run Motorola Mobility as a separate business."

    Motorola Mobility Holdings had become an independent, publicly traded company on Jan. 4, 2011, when Motorola Inc. spun off Motorola Mobility to Motorola Inc. shareholders. The name of Motorola Inc. changed that day to Motorola Solutions Inc. Motorola Solutions sells communication infrastructure, devices, software and services focused on government and enterprise, or large-business, customers.

    Motorola Mobility products included mobile devices (including smartphones and media tablets), wireless accessories, set-top boxes and video-distribution systems and broadband-access infrastructure products.

    Motorola Mobility's largest customer before the sale to Google was Verizon Communications. Motorola Mobility generated 19% of 2011 revenue from Verizon Communications (including Verizon Wireless); 28% in 2010; 17% in 2009; and 13% in 2008.

    Motorola Mobility owned the Motorola and Moto trademarks. Motorola Mobility licensed the Motorola name to Motorola Solutions.

    Google in April 2013 sold Motorola Mobility's Motorola Home business to Arris Group, a telecom technology firm, for about $2.412 billion cash plus $175 million in shares representing a 7.8% stake in Arris. Motorola Home makes cable-TV set-top boxes and other equipment for home entertainment. Google referred to the remaining portion of Motorola Mobility as Motorola Mobile.

    Other deals:

    Google in February 2014 bought Nest Labs for $2.6 billion. Nest Labs markets advanced home thermostats and smoke alarms.

    Stock:

    Google Inc. went public in August 2004.

    Google in October 2015 reorganized under a holding company, Alphabet. Under the new structure, Alphabet Inc. replaced Google Inc. as the publicly traded company.

    Alphabet has three classes of shares:

    Class A: Nasdaq: GOOGL, with voting rights.

    Class B: Not publicly traded; owned by founders and insiders; has extra voting rights.

    Class C: Nasdaq: GOOG, with no voting rights.

    Class A and Class C shares were created when Google split its stock in April 2014.

    History:

    Larry Page and Sergey Brin founded Google in September 1998.

    Google was incorporated in 1998 and went public in August 2004.

    Google in October 2015 reorganized under a holding company, Alphabet. Under the new structure, Alphabet Inc. replaced Google Inc. as the publicly traded stock. Alphabet became the holding company for Google businesses and for other ventures and holdings.

    https://www.abc.xyz

Amazon

  • Marketer profile
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    Overview:

    Amazon is a retailer based in Seattle.

    Ad Age Datacenter ranked Amazon as the world’s biggest advertiser in the Ad Age World’s Largest Advertisers 2023 report, based on 2022 spending.

    Ad Age ranked Amazon as the biggest U.S. advertiser in the Ad Age Leading National Advertisers 2023 report, based on 2022 spending.

    Amazon’s Amazon brand scored No. 1 on Ad Age’s ranking of the nation’s most-advertised brands based on 2022 U.S. measured-media ad spending. The Amazon brand in 2022 had U.S. measured-media ad spending of $6.1 billion, according to figures from Vivvix.

    Amazon began as an online retailer and over time expanded offline.

    The company in March 2022 bought MGM Holdings for $6.1 billion, Amazon’s second-biggest acquisition after its 2017 purchase of Whole Foods.

    Amazon first appeared in the Ad Age 100 Leading National Advertisers report in June 2011, ranking No. 70 based on 2010 estimated U.S. ad spending of $487 million.

    Business segments and operations:

    Amazon operates through three segments:

    North America

    International

    Amazon Web Services (also referred to as AWS)

    Rankings:

    Amazon ranked as the world’s second-largest retailer (behind Walmart) in the Top 250 ranking based on fiscal 2021 sales in Deloitte’s Global Powers of Retailing 2023 report.

    Advertising revenue:

    Amazon has become a major media company with surging advertising revenue.

    The company’s Amazon Media Group uses intelligence from Amazon’s search results as a way to sell advertisers targeted ads on Amazon-owned sites (including Amazon.com and IMDb.com) as well as ads delivered through Amazon Advertising Platform, an ad network that includes Amazon-owned sites and third-party sites.

    Other ad-supported Amazon media properties include streaming service Amazon Freevee (formerly IMDb TV).

    Amazon began to break out “advertising services” revenue effective with its fourth-quarter 2021 earnings release and 2021 10-K filing.

    Amazon disclosed the following “advertising services” net sales:

    2022: $37.739 billion

    2021: $31.160 billion

    2020: $19.773 billion

    2019: $12.625 billion

    Amazon previously reported advertising services net sales within its “Other” sales bucket.  Amazon reported worldwide “Other” net sales of:

    2020: $21.453 billion

    2019: $14.085 billion

    2018: $10.108 billion

    2017: $4.653 billion

    2016: $2.950 billion

    2015: $1.710 billion

    2014: $1.322 billion

    Amazon in April 2015 began disclosing revenue of Amazon Web Services. The company disclosed worldwide revenue from Amazon Web Services of:

    2022: $80.096 billion

    2021: $62.202 billion

    2020: $45.370 billion

    2019: $35.026 billion

    2018: $25.655 billion

    2017: $17.459 billion

    2016: $12.219 billion

    2015: $7.880 billion

    2014: $4.644 billion

    2013: $3.108 billion

    Marketing spending:

    U.S. ad spending:

    U.S. ad spending figures shown are Ad Age Datacenter’s estimate of Amazon’s U.S. “advertising and other promotional costs.”

    Amazon displaced Comcast Corp. as the biggest advertiser in the June 2020 ranking of Ad Age Leading National Advertisers based on calendar 2019 spending. Amazon kept the top spot based on estimated spending in calendar 2020, 2021 and 2022.

    Amazon made its debut on Ad Age’s 100 Leading National Advertisers ranking in June 2011 based on estimated U.S. ad and promotion spending in 2010. Amazon ranked as the nation’s 70th-largest U.S. spender in that report.

    Worldwide ad spending:

    Worldwide ad spending figures shown are Amazon’s stated worldwide “advertising and other promotional costs.”

    Amazon reported worldwide advertising and other promotional costs of $20.6 billion in 2022, up from $16.9 billion in 2021.

    Ad Age Datacenter ranked Amazon as the world’s biggest advertiser in the Ad Age World’s Largest Advertisers 2023 report, based on 2022 spending.

    Amazon also ranked as the world’s top advertiser based on 2021 spending.

    Amazon ranked as the world’s second-biggest advertiser based on 2020 spending, behind Procter & Gamble Co.

    Amazon ranked as the world’s biggest advertiser based on 2019 spending, which marked its first time in the top spot.

    Amazon’s stated worldwide advertising and promotion spending rose 21.9% in 2022.

    Amazon’s worldwide advertising and promotion spending surged 55.0% in 2021.

    That came after Amazon reduced worldwide advertising and promotion spending by 0.9% in 2020. That was its first ad and promotion spending decrease since 2003.

    Amazon boosted stated worldwide advertising and promotion spending by 34.1% in 2019; 30.2% in 2018; 26.0% in 2017; 31.6% in 2016; 15.2% in 2015; 37.5% in 2014; 20.0% in 2013: 42.9% in 2012; 57.3% in 2011; 50.1% in 2010; and 41.2% in 2009.

    Amazon disclosed the following worldwide “sales and marketing costs” (referred to as “marketing costs” in filings prior to 2023):

    2022: $42.238 billion (8.22% of net sales)

    2021: $32.551 billion (6.93% of net sales)

    2020: $22.008 billion (5.70% of net sales)

    2019: $18.878 billion (6.73% of net sales)

    2018: $13.814 billion (5.93% of net sales)

    2017: $10.069 billion (5.66% of net sales)

    2016: $7.233 billion (5.32% of net sales)

    2015: $5.254 billion (4.91% of net sales)

    2014: $4.332 billion (4.87% of net sales)

    2013: $3.133 billion (4.21% of net sales)

    2012: $2.408 billion (3.94% of net sales)

    2011: $1.630 billion (3.39% of net sales)

    2010: $1.029 billion (3.01% of net sales)

    2009: $680 million (2.77% of net sales)

    2008: $482 million (2.51% of net sales)

    The 10-K for year ended December 2022 said:

    “The increase in sales and marketing costs in absolute dollars in 2022, compared to the prior year, is primarily due to increased payroll and related expenses for personnel engaged in marketing and selling activities and higher marketing spend.”

    The 10-K for year ended December 2021 said:

    “The increase in marketing costs in absolute dollars in 2021, compared to the prior year, is primarily due to higher marketing spend, which was constrained in 2020 in response to COVID-19, and increased payroll and related expenses for personnel engaged in marketing and selling activities.”

    The 10-K for year ended December 2020 said:

    “The increase in marketing costs in absolute dollars in 2020, compared to the prior year, is primarily due to increased payroll and related expenses for personnel engaged in marketing and selling activities, partially offset by lower spending on marketing channels as a result of COVID-19.”

    The 10-K for year ended December 2019 said:

    “The increase in marketing costs in absolute dollars in 2019, compared to the prior year, is primarily due to increased spending on marketing channels, as well as payroll and related expenses for personnel engaged in marketing and selling activities.”

    The 10-K for year ended December 2018 said:

    “The increase in marketing costs in absolute dollars in 2017 and 2018, compared to the comparable prior years, is primarily due to payroll and related expenses for personnel engaged in marketing and selling activities, as well as increased spending on online marketing channels.”

    The 10-K for year ended December 2017 said:

    “The increase in marketing costs in absolute dollars in 2016 and 2017, compared to the comparable prior year periods, is primarily due to payroll and related expenses, as well as increased spending on online marketing channels.

    The 10-K for year ended December 2016 said:

    “The increase in marketing costs in absolute dollars in 2014, 2015, and 2016, compared to the comparable prior year periods, is primarily due to increased spending on online marketing channels and television advertising, as well as payroll and related expenses.”

    The 10-K for year ended December 2015 said:

    “The increase in marketing costs in absolute dollars in 2015, 2014, and 2013, compared to the comparable prior year periods, is primarily due to increased spending on online marketing channels, as well as payroll and related expenses.”

    The 10-K for year ended December 2014 said:

    “The increase in marketing costs in absolute dollars in 2014, 2013, and 2012, compared to the comparable prior year periods, is primarily due to increased spending on online marketing channels, such as our sponsored search programs, payroll and related expenses, and television advertising.”

    The 10-K for year ended December 2013 said:

    “The increase in marketing costs in absolute dollars in 2013, 2012, and 2011, compared to the comparable prior year periods, is primarily due to increased spending on online marketing channels, such as our sponsored search programs and our Associates program, payroll and related expenses, and television advertising.”

    The 10-K for year ended December 2012 said:

    “The increase in marketing costs in absolute dollars in 2012, 2011, and 2010, compared to the comparable prior year periods, is primarily due to increased spending on online marketing channels, such as sponsored search programs and our Associates program, payroll and related expenses, and television advertising.”

    Worldwide advertising and promotional costs as percentage of worldwide sales and marketing costs (formerly known as marketing costs):

    2022: 48.8%

    2021: 51.9%

    2020: 49.5%

    2019: 58.3%

    2018: 59.4%

    2017: 62.6%

    2016: 69.1%

    2015: 72.3%

    2014: 76.2%

    2013: 76.6%

    2012: 83.1%

    2011: 85.9%

    2010: 86.5%

    2009: 87.2%

    2008: 87.1%

    The 10-K for year ended December 2022 said:

    “Sales and marketing costs include advertising and payroll and related expenses for personnel engaged in marketing and selling activities, including sales commissions related to AWS. We pay commissions to third parties when their customer referrals result in sales. We also participate in cooperative advertising arrangements with certain of our vendors, and other third parties.”

    IRobot Corp. historic ad spending:

    Amazon in August 2022 signed a deal to buy iRobot Corp., marketer of Roomba vacuums.

    IRobot disclosed the following worldwide “advertising expense”:

    2022: $146.6 million (12.4% of revenue of $1.2 billion)
    2021: $147.2 million (9.4% of revenue of $1.6 billion)
    2020: $145.2 million (10.2% of revenue of $1.4 billion)
    2019: $125 million (10.3% of revenue of $1.2 billion)
    2018: $114 million (10.4% of revenue of $1.1 billion)
    2017: $91.8 million (10.4% of revenue of $0.9 billion)

    Whole Foods Market historic ad spending:

    Amazon in August 2017 completed a deal to buy Whole Foods Market.

    Whole Foods disclosed the following ad costs:

    Year ended Sept. 25, 2016: $96.0 million (0.6% of sales of $15.7 billion)
    Year ended Sept. 27, 2015: $89.0 million (0.6% of sales of $15.4 billion)
    Year ended Sept. 28, 2014: $63.0 million (0.4% of sales of $14.2 billion)
    Year ended Sept. 29, 2013: $56.0 million (0.4% of sales of $12.9 billion)
    Year ended Sept. 30, 2012: $51.3 million (0.4% of sales of $11.7 billion)
    Year ended Sept. 25, 2011: $43.2 million (0.4% of sales of $10.1 billion)
    Year ended Sept. 26, 2010: $37.9 million (0.4% of sales of $9.0 billion)
    Year ended Sept. 27, 2009: $32.9 million (0.4% of sales of $8.0 billion)
    Year ended Sept. 28, 2008: $39.7 million (0.5% of sales of $8.0 billion)
    Year ended Sept. 30, 2007: $33.0 million (0.5% of sales of $6.6 billion)
    Year ended Sept. 24, 2006: $24.0 million (0.4% of sales of $5.6 billion)
    Year ended Sept. 25, 2005: $20.1 million (0.4% of sales of $4.7 billion)

    Whole Foods’ ad costs shown for 2013 through 2016 are stated “advertising expense.” Ad costs shown for 2005 through 2012 are stated “advertising and marketing expense.” All figures are net after subtracting cooperative advertising money that Whole Foods received from suppliers.

    Deals and strategic moves:

    One Medical (1Life Healthcare):

    Amazon in February 2023 bought 1Life Healthcare, which provided primary-care medical services online and through local offices under the One Medical brand. Amazon bought the venture for about $3.5 billion, net of cash acquired.

    San Francisco-based 1Life Healthcare reported 2021 total net revenue of $623.3 million. It disclosed “advertising costs” of $32,166,000 in 2021; $15,871,000 in 2020; $23,368,000 in 2019; $11,641,000 in 2018; and $7,654,000 in 2017.

    1Life Healthcare held its initial public offering in January 2020.

    IRobot Corp.:

    Amazon in August 2022 signed a deal to buy iRobot Corp., marketer of Roomba vacuums, in a deal valued at $1.7 billion including assumption of iRobot debt.

    Prior to closing of the deal, Amazon was iRobot’s largest retailer, accounting for this percentage of iRobot’s worldwide revenue:

    2022: 22.6%
    2021: 21.8%
    2020: 22.7%
    2019: 21.3%
    2018: 17.3%
    2017: 13.5%

    IRobot also sells directly to consumers. That business accounted for this percentage of iRobot’s worldwide revenue:

    2022: 16.4%
    2021: 12.0%
    2020: 10.5%
    2019: 5.8%
    2018: 4.4%

    Prior to its acquisition by Amazon, iRobot used cloud infrastructure from Amazon Web Services as part of iRobot’s “Home Knowledge Cloud,” a system that allowed iRobot to provide over-the-air delivery of new digital features for its customers globally.

    MGM Holdings:

    Amazon in March 2022 bought MGM Holdings for cash consideration of about $6.1 billion, net of cash acquired, the company’s second-biggest acquisition after its 2017 purchase of Whole Foods.

    In its May 2021 announcement that it was buying MGM, Amazon said: “MGM has nearly a century of filmmaking history and complements the work of Amazon Studios, which has primarily focused on producing TV show programming. Amazon will help preserve MGM’s heritage and catalog of films, and provide customers with greater access to these existing works. Through this acquisition, Amazon would empower MGM to continue to do what they do best: great storytelling.”

    MGM disclosed worldwide “advertising and marketing costs” of $46.4 million in 2020; $99.3 million in 2019 (before the pandemic); and $75.0 million in 2018. MGM said that spending primarily was for its Epix channel. MGM reported worldwide total revenue of $1.497 billion in 2020; $1.543 billion in 2019; and $1.574 billion in 2018.

    MGM (Metro-Goldwyn-Mayer) no longer owns a studio lot. Its old backlot in Culver City, California, is now home to Sony/Columbia.

    Whole Foods Market:

    Amazon on Aug. 28, 2017, completed a deal announced June 16, 2017, to buy Whole Foods Market, a grocery store chain, in an all-cash transaction valued at about $13.2 billion, net of cash acquired. This was Amazon’s largest-ever acquisition.

    Amazon planned to keep operating the stores under the Whole Foods name.

    At the time of the June 2017 announcement, Whole Foods operated more than 460 stores in U.S., Canada and the U.K.

    As of April 9, 2017, Whole Foods operated 461 stores: 440 stores in 42 U.S. states and the District of Columbia; 12 stores in Canada; and nine stores in the U.K.

    Whole Foods was incorporated in 1978 and opened the first Whole Foods Market store
    in 1980 in Austin, Texas.

    Quidsi:

    Amazon in March 2017 said it was closing Quidsi, a unit that included Diapers.com and Soap.com.

    Amazon in April 2011 completed its acquisition of Quidsi, parent of e-commerce sites Diapers.com, Soap.com and BeautyBar.com. Amazon in November 2010 had announced an agreement to buy Quidsi for about $500 million in cash plus assumption of about $45 million in debt. Quidsi founder Marc Lore later launched Jet.com, an online retailer that he sold to Walmart in 2016. Walmart shuttered Jet.com in 2020.

    Amazon in early 2012 bought the casa.com domain name. Amazon’s Quidsi later in 2012 launched Casa.com as a housewares e-commerce site.

    Other deals and strategic moves:

    Amazon in July 2022 signed a deal with Just Eat Takeaway.com, a multinational online food delivery venture, to give Amazon Prime members in the U.S. access to Just Eat Takeaway’s Grubhub delivery service. As part of the agreement, Amazon received warrants to buy up to 15% of Grubhub. The deal came as Just Eat Takeaway continued to explore the partial or full sale of Grubhub, which Just Eat Takeaway bought in June 2021.

    Amazon has a deal with U.S. retailer Kohl’s Corp. allowing Amazon customers to return purchases to Kohl’s stores. Amazon and Kohl’s first worked together in 2017 to pilot the returns program. The program in July 2019 expanded to all Kohl’s stores across 48 states.

    Amazon in September 2018 bought PillPack, an online pharmacy, for about $753 million, net of cash acquired. PillPack sells pre-sorted doses of medications delivered to a consumer’s home.

    Amazon in April 2018 bought Ring, a marketer of video doorbells and other products, for about $839 million, net of cash acquired.

    In addition to PillPack and Ring, Amazon in 2018 bought “certain other companies” for an aggregate price tag of $57 million. Amazon said: “The primary reason for our other 2018 acquisitions was to acquire technologies and know-how to enable Amazon to serve customers more effectively.”

    Amazon in May 2017 bought Souq Group, an e-commerce company based in Dubai, United Arab Emirates, for about $583 million, net of cash acquired. Amazon in April 2019 rebranded Souq as Amazon.ae.

    In addition to buying Whole Foods and Souq, Amazon in 2017 bought “certain other companies” for an aggregate price tag of $204 million. Amazon said: “The primary reason for our other 2017 acquisitions was to acquire technologies and know-how to enable Amazon to serve customers more effectively.”

    Amazon bought Zappos.com, an online shoe retailer, in fourth-quarter 2009.

    Amazon acquired Audible Inc. in 2008.

    Management and employees:

    Jeff Bezos, who ran Amazon since its founding in 1994, moved to executive chair from chairman-CEO in July 2021.

    Andrew (Andy) Jassy succeeded Bezos as CEO of Amazon. Before taking that post, Jassy was CEO of Amazon Web Services, which he led since its inception. Jassy joined Amazon in 1997.

    History:

    Amazon.com Inc. was incorporated in 1994, opened its web store in July 1995 and staged its initial public offering in May 1997.

    https://www.amazon.com

American Express Co.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    American Express Co., founded in 1850, is a bank holding company focused on global-payment services and travel-related services.

    American Express became a bank holding company in November 2008, changing its organizational structure in the wake of the financial markets' fall 2008 meltdown.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Ad Age Datacenter estimates of U.S. marketing spending.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are stated "marketing" costs.

    The company's 10-K filing for calendar 2022 said:

    "Marketing expense increased, primarily due to business investments to drive growth momentum and accelerate new card acquisitions."

    Deals and strategic moves:

    American Express in 2020 bought Kabbage , a financial technology company providing cash flow management solutions to small businesses in the U.S.

    American Express in 2019 bought Resy, a digital restaurant reservation booking and management platform.

    American Express in 2019 bought LoungeBuddy, a digital platform that lets travelers find, book and access airport lounges worldwide.

    American Express in 2019 bought Pocket Concierge, a restaurant reservation platform for high-end restaurants in Japan.

    Citigroup in 2016 replaced American Express as the exclusive U.S. provider of credit cards for Costco Wholesale Corp.

    Divestitures:

    American Express Co. on June 30, 2014, completed a deal to turn its wholly owned Global Business Travel division into a joint venture with Certares, a New York-based investment firm. American Express and Certares each own a 50% stake in the business travel agency, which will continue to operate under the "American Express Global Business Travel" brand under a trademark license with American Express. Certares paid American Express $900 million for a 50% stake using money from Qatar Investment Authority, BlackRock, Certares itself and Macquarie Capital. The Global Business Travel division was part of the company's Global Commercial Services segment before the spinoff.

    American Express Global Business Travel in 2021 acquired Egencia, a corporate travel management operation, from Expedia Group. As part of the transaction, Expedia Group became a shareholder in and entered a long-term strategic commercial agreement with Global Business Travel.

    American Express Global Business Travel in May 2022 went public through a merger with a special purpose acquisition company. Upon closing of the deal, the combined company took the name Global Business Travel Group. It continued to conduct business under the brand American Express Global Business Travel.

    Time Inc. on Oct. 1, 2013, acquired American Express Publishing Corp. from American Express, which said banking regulations limited its ability to engage in non-financial activities. (Time Warner spun off Time Inc. as a standalone public company in 2014. Meredith Corp. in 2017 bought Time Inc. IAC in 2021 bought Meredith's National Media Group. IAC operates the business as Dotdash Meredith.)

    American Express in September 2005 spun off its financial-planning and financial-services business, the former American Express Financial Corp., as Ameriprise Financial.

    Management and employees:

    American Express in October 2017 named Stephen J. Squeri chairman-CEO effective Feb. 1, 2018. Squeri, who had been vice chairman, succeeded Kenneth I. Chenault, who retired.

    Squeri, age 58 at the time of the October 2017 announcement, joined American Express in 1985 as a manager in the traveler's check group.

    https://www.americanexpress.com

Anheuser-Busch InBev

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Anheuser-Busch InBev, based in Belgium, is the largest marketer of beer in the U.S. and in the world.

    Anheuser-Busch InBev Oct. 10, 2016, bought rival SABMiller. As part of this deal, Anheuser-Busch InBev Oct. 11, 2016, sold SABMiller's 58% stake in MillerCoors to Molson Coors Brewing Co. for $12 billion.

    MillerCoors formerly was the U.S. joint venture of SABMiller and Molson Coors Brewing Co. Molson Coors Brewing Co. (now Molson Coors Beverage Co.) ended up as 100% owner of MillerCoors. See "Deals and strategic moves."

    Rankings:

    According to data from Plato Logic, a beer-industry market-research firm, as quoted in a 20-F filing of Anheuser-Busch InBev, the world's 10 largest brewers based on volume in calendar 2021 were:

    Anheuser-Busch InBev (515 million hectoliters)

    Heineken (262 million)

    Carlsberg (129 million)

    CR Snow (111 million)

    Molson Coors Beverage Co. (81 million)

    Tsingtao (Group) (79 million)

    Asahi (69 million)

    EFES (37 million)

    Beijing Yanjing (36 million)

    Castel (34 million)

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of advertising and marketing expenses.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is an Ad Age Datacenter estimate of advertising and marketing expenses.

    Deals and strategic moves:

    Anheuser-Busch InBev deal to buy SABMiller:

    Anheuser-Busch InBev on Oct. 10, 2016, completed its acquisition of SABMiller.

    Anheuser-Busch InBev and SABMiller on Nov. 11, 2015, announced an agreement for Belgium-based Anheuser-Busch InBev, the world's largest beer marketer, to buy London-based SABMiller, the world's second-largest beer marketer, for 44 pounds a share or about 71 billion pounds (about $107 billion). The formal agreement followed an October 2015 agreement in principle, which came after SABMiller rejected earlier takeover proposals from Anheuser-Busch InBev.

    How the deal worked: "Newbelco SA/NV" (a Belgian company to be formed for the purposes of the deal) bought SABMiller; Anheuser-Busch InBev merged into Newbelco (also referred to as Newco). Upon completion of the deal, Newbelco became the new holding company for the combined group. Newbelco then was renamed Anheuser-Busch InBev; the former Anheuser-Busch InBev was dissolved.

    Anheuser-Busch InBev agreed to pay SABMiller a breakup fee of $3 billion if the deal failed to get regulatory clearances or the approval of Anheuser-Busch InBev shareholders.

    In a move to anticipate and address antitrust concerns, Anheuser-Busch InBev on Nov. 11, 2015, also announced a side deal to sell SABMiller's 50% voting interest and 58% stake in MillerCoors and the Miller global brand business to minority owner Molson Coors Brewing Co. for $12 billion. That transaction closed Oct. 11, 2016. Molson Coors, based in Denver and Montreal, ended up as 100% owner of Chicago-based MillerCoors.

    In that transaction, Molson Coors acquired full ownership of the Miller brand portfolio outside of the U.S. and perpetual licenses to the U.S. rights to all of the brands in the MillerCoors portfolio for the U.S. market, including import brands such as Peroni and Pilsner Urquell. The sale also included the global Miller brand, sold as of 2016 in more than 50 countries (including Australia, Argentina, Canada, Colombia, Ecuador, Mexico, Panama, Russia, South Africa and the United Kingdom), as well as related trademarks and other intellectual property rights.

    SABMiller was created by the combination of South African Breweries (SAB) and Miller Brewing Co. following SAB's 2002 purchase of Miller from Altria Group.

    SAB was founded in 1895.

    Frederick J. Miller founded Miller Brewing Co. in 1855. Philip Morris (predecessor to Altria) bought a 53% stake in Miller Brewing Co. in 1969 and acquired the rest in 1970.

    Molson Coors Brewing Co. was created by the February 2005 merger of Canada's Molson and U.S. brewer Adolph Coors Co. Molson Coors' non-U.S. operations (Canada, U.K., Europe, Asia) have operated separately from the MillerCoors joint venture. Molson was founded in 1786. Coors started in 1873.

    SABMiller and Molson Coors formed MillerCoors in June 2008 as a joint venture in the U.S. and Puerto Rico. SABMiller has had a 58% economic stake in MillerCoors; Molson Coors owned 42%. Each partner has had a 50% voting interest in MillerCoors.

    Anheuser-Busch InBev is the largest beer marketer in the U.S. Molson Coors' MillerCoors is the second largest.

    SABMiller on Dec. 3, 2015, said Anheuser-Busch InBev was exploring the sale of "a number of SABMiller's European premium brands and related businesses." SABMiller's December 2015 announcement said: "AB InBev will contact potential purchasers in the coming weeks to assess their interest in the Peroni and Grolsch brand families and their associated businesses in Italy, the Netherlands and the U.K. and, given the brand's premium positioning, U.K.-based Meantime." Meantime is a U.K. craft brewer that SABMiller bought earlier in 2015. SABMiller said Anheuser-Busch InBev was taking these steps "in line with its commitment to promptly and proactively address potential regulatory considerations."

    Anheuser-Busch Oct. 11, 2016, completed the sale of SABMiller's interest in Peroni, Grolsch and Meantime in Italy, the Netherlands, the U.K. and other international markets (excluding certain rights in the U.S.). (Anheuser-Busch in 2008 sold U.S. distribution rights for Dutch beer brand Grolsch to SABMiller. Anheuser-Busch had distributed Grolsch since February 2006; SABMiller bought brewer Royal Grolsch NV in February 2008.)

    Grupo Modelo deal:

    Anheuser-Busch InBev in June 2013 completed the acquisition of Mexican brewer Grupo Modelo.

    Anheuser-Busch InBev in June 2012 agreed to buy full ownership of Grupo Modelo, marketer of Corona Extra, for $20.1 billion cash. (Before that transaction, Anheuser-Busch InBev at year-end 2011 already owned a 50.35% direct and indirect equity interest in Modelo, Mexico's largest and the world's No. 7 brewer.)

    In the U.S., Modelo's beers were marketed by Crown Imports, which had been a 50/50 venture of Modelo and Constellation Brands. At the same time that Anheuser-Busch InBev announced its deal to buy 100% of Modelo, the Mexican brewer announced that Modelo would sell its 50% stake in Crown Imports to Constellation Brands for $1.85 billion. That meant Crown would continue to control marketing, distribution and pricing decisions stateside for Corona, as well as the other Modelo beers in its stable including Corona Light, Modelo Especial, Pacifico, Negra Modelo and Victoria.

    Under the original 2012 deal with Constellation, Anheuser-Busch InBev would have the right every 10 years, but not the obligation, to terminate Crown's U.S. distribution rights.

    The U.S. Justice Department Jan. 31, 2013, sued to block the deal, saying consumers would be harmed by the merger.

    Anheuser-Busch InBev, hoping to get its Modelo deal back on track with regulators, announced a revised pact with Constellation in February 2013: Constellation still would pay $1.85 billion for Modelo's 50% stake in Crown. But Constellation also would pay $2.9 billion for exclusive perpetual U.S. rights (specifically, rights to import and distribute Corona and all the Modelo brands that Crown distributed as of 2013; plus rights to develop brand extensions and innovations in the U.S.); as well as ownership of a modern Mexican brewery. In total, Constellation would pay $4.75 billion.

    The Justice Department in April 2013 agreed to those broad revised terms (along with some small changes), clearing the way for the deal.

    Anheuser-Busch InBev in June 2013 completed the $21.1 billion acquisition of Modelo; and the sale of Modelo's 50% stake in Crown for what Constellation later said was a final price of $5.226 billion after closing adjustments to the agreed upon $4.75 billion.

    Constellation's 100% ownership of Crown further moved Constellation into the beer business. Constellation's core operations had been wine and liquor, with brands such as Robert Mondavi, Clos du Bois, Kim Crawford and Svedka vodka.

    Kirin:

    Anheuser-Busch InBev, the world's biggest beer marketer, has a license agreement with Japan-based Kirin Holdings to brew, market and sell Kirin beer in the U.S.

    Other deals:

    Anheuser-Busch InBev in September 2020 bought the remaining stake in Craft Brew Alliance, a Portland, Oregon, craft-beer marketer. The company previously had a 31.2% stake. Background on InBev's acquisition of Anheuser-Busch:

    InBev in November 2008 bought Anheuser-Busch Cos. for $52 billion and changed InBev's name to Anheuser-Busch InBev. InBev had been the world's No. 2 brewer (behind SABMiller); Anheuser-Busch had been No. 1 in the U.S. and No. 3 worldwide.

    InBev in June 2008 made its unsolicited takeover bid for Anheuser-Busch Cos. The two firms were complementary: A-B was big in the U.S. but a comparatively small factor elsewhere; InBev was a small player in the U.S. The companies had ties; in 2007, Anheuser-Busch became exclusive U.S. importer of a number of InBev's premium European brands including Stella Artois, Beck's, Bass Pale Ale, Hoegaarden and Leffe.

    To resolve antitrust issues in conjunction with the 2008 merger, Anheuser-Busch InBev had to find another firm to handle U.S. sales of Labatt, an InBev-owned Canadian brand. In March 2009, Anheuser-Busch InBev sold Labatt USA, the brand's importer, to KPS Capital Partners, a buyout firm. KPS obtained the right to import Labatt and to brew Labatt branded beer in the U.S. or Canada solely for sale in the U.S. KPS in 2009 formed North American Breweries, based in Rochester, New York, to market Labatt and KPS-owned brands including Genesee.

    SABMiller deals (historic):

    MillerCoors in February 2012 bought Minnesota-based Crispin Cider Co., giving it a play in the fast-growing U.S. cider category. MillerCoors folded Crispin into its Tenth and Blake division, which handles craft beer and imported brands.

    MillerCoors has an agreement to brew, package and ship products for Pabst Brewing Co. through June 2020.

    History:

    InBev traces its roots to the Den Horen brewery in Belgium, dating back to 1366. Anheuser-Busch's roots date to 1860. South African Breweries (SAB) was founded in 1895.

    https://www.ab-inbev.com

Apple

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Apple is a marketer and retailer of wireless phones, computers, consumer electronics and consumer services.

    Business segments and operations:

    Products and services:

    Apple in September 2020 announced Apple Fitness+, a personalized fitness service built for the Apple Watch.

    The company started Apple TV+, a video-on-demand streaming TV service, in November 2019.

    Apple began selling HomePod, a voice-activated speaker, in February 2018.

    Apple began sales of Apple Watch (personal-electronic device) in April 2015; it unveiled the product in September 2014.

    Apple introduced Apple Pay (a mobile-payment service) in the U.S. in October 2014.

    Apple in July 2014 bought Beats Electronics (Beats headphones) and Beats Music (subscription streaming-music service). (See "Deals and strategic moves.")

    Apple unveiled iCloud (online-storage service) in June 2011.

    Apple introduced iPad (tablet computer) in 2010.

    The company introduced its iPhone in the U.S. in June 2007 under an exclusive deal with AT&T. Apple rolled iPhone into Europe in late calendar 2007 through deals with other wireless services.

    Apple in January 2011 added Verizon Wireless as its second U.S. distributor of iPhones. Apple in October 2011 added Sprint as its third major U.S. iPhone distributor. T-Mobile, the No. 4 U.S. wireless firm, began offering the iPhone in April 2013. (T-Mobile US bought Sprint in 2020.)

    Apple introduced iPod (portable music device) in 2001. Apple discontinued iPod in 2022.

    Stores:

    The company said direct-distribution channels--Apple's retail and online stores and its direct sales force--accounted for 38% of net sales in year ended September 2022; 36% in year ended September 2021; 34% of net sales in year ended September 2020; 31% of net sales in year ended September 2019; 29% of net sales in year ended September 2018; 28% in year ended September 2017; and 25% in year ended September 2016.

    As of Sept. 26, 2015, Apple operated 463 stores worldwide with 5.3 million square feet of retail store space. Apple in year ended September 2015 changed its operating-segment structure and stopped disclosing detailed information about its store count and average revenue per store. The company did disclose that direct-distribution channels--its retail and online stores and its direct sales force--accounted for 26% of net sales in year ended September 2015.

    As of Sept. 27, 2014, Apple operated 259 U.S. retail stores and 178 international retail stores, or 437 stores worldwide. With an average of 424 and 403 open stores during 2014 and 2013, respectively, average revenue per store increased to $50.6 million in 2014 from $50.2 million in 2013.

    As of Sept. 28, 2013, Apple operated 254 U.S. retail stores and 162 international retail stores, or 416 stores worldwide. With an average of 403 and 365 open stores during fiscal 2013 and 2012, respectively, average revenue per store decreased to $50.2 million in 2013 compared to $51.5 million in 2012.

    As of Sept. 29, 2012, the company had 250 U.S. retail stores and 140 international retail stores, or 390 stores worldwide. With an average of 365 stores and 326 stores during fiscal 2012 and 2011, respectively, average revenue per store increased 19% to $51.5 million in 2012 compared to $43.3 million in 2011.

    Apple opened 40 new retail stores during fiscal 2011, 28 of which were outside the U.S., ending the fiscal year with 357 stores. As of Sept. 24, 2011, the company had a total of 245 U.S. retail stores and 112 international retail stores.

    Apple operated 317 stores worldwide as of September 2010, up from 273 stores as of September 2009.

    As of September 2011, the company operated 19 of its stores as "high-profile" venues to promote brand awareness and serve as vehicles for corporate sales and marketing activities. The company's 10-K for years ended September 2013 and September 2012 did not break out how many stores are "high-profile" venues. Apple reported 15 high-profile stores as of September 2010 and 11 as of September 2009.

    The 10-K filings for years ended September 2017, September 2016, September 2015, September 2014, September 2013 and September 2012 said:

    "Certain stores have been designed and built to serve as high-profile venues to promote brand awareness and serve as vehicles for corporate sales and marketing activities. Because of their unique design elements, locations and size, these stores require substantially more investment than the company's more typical retail stores."

    The 10-K for year ended September 2011 said: "The company has certain retail stores that have been designed and built to serve as high-profile venues to promote brand awareness and serve as vehicles for corporate sales and marketing activities. Because of their unique design elements, locations and size, these stores require substantially more investment than the company's more typical retail stores. The company allocates certain operating expenses associated with its high-profile stores to corporate expense to reflect the estimated company-wide benefit. The allocation of these operating costs to corporate expense is based on the amount incurred for a high-profile store in excess of that incurred by a more typical company retail location. The company had opened a total of 19 high-profile stores as of September 24, 2011. Amounts allocated to corporate expense resulting from the operations of high-profile stores were $102 million, $75 million and $65 million for 2011, 2010 and 2009, respectively." The comparable allocations were $53 million in fiscal 2008; and $39 million in fiscal 2007.

    Put another way, for every dollar Apple spent on worldwide advertising, it spent 11 cents on high-profile stores in fiscal 2011 and fiscal 2010; and 13 cents on high-profile stores in fiscal 2009.

    Apple changed its account for high-profiles stores in the year ended September 2012, stating: "Prior to 2012, the company allocated to corporate expenses certain costs associated with its high-profile retail stores that have been designed and built to promote brand awareness and serve as vehicles for corporate sales and marketing activities. Beginning in 2012, the company no longer allocates these costs to corporate expenses and reclassified $102 million and $75 million of such costs from corporate to Retail segment expenses for 2011 and 2010, respectively."

    Sales and earnings:

    Net sales:

    Apple disclosed the following worldwide net sales for fiscal years ended:

    September 2022: $394.3 billion.

    September 2021: $365.8 billion.

    September 2020: $274.5 billion.

    September 2019: $260.2 billion

    September 2018: $265.6 billion

    September 2017: $229.2 billion

    September 2016: $215.6 billion

    September 2015: $233.7 billion

    September 2014: $182.8 billion

    September 2013: $170.9 billion

    September 2012: $156.5 billion

    September 2011: $108.2 billion

    September 2010: $65.2 billion

    September 2009: $42.9 billion

    September 2008: $37.5 billion

    September 2007: $24.6 billion

    September 2006: $19.3 billion

    September 2005: $13.9 billion

    September 2004: $8.3 billion

    September 2003: $6.2 billion

    September 2002: $5.7 billion

    September 2001: $5.4 billion

    September 2000: $8.0 billion

    September 1999: $6.1 billion

    September 1998: $5.9 billion

    September 1997: $7.1 billion

    September 1996: $9.8 billion

    September 1995: $11.1 billion

    September 1994: $9.2 billion

    September 1993: $8.0 billion

    September 1992: $7.1 billion

    September 1991: $6.3 billion

    September 1990: $5.6 billion

    September 1989: $5.3 billion

    September 1988: $4.1 billion

    September 1987: $2.7 billion

    September 1986: $1.9 billion

    September 1985: $1.9 billion

    September 1984: $1.5 billion

    September 1983: $982.8 million

    September 1982: $583.1 million

    September 1981: $334.8 million

    September 1980: $117.1 million

    September 1979: $47.9 million

    September 1978 $7.9 million

    September 1977: $774,000

    Net sales by region:

    Apple generated this portion of worldwide net sales from the U.S. for fiscal years ended:

    September 2022: 37.5%.

    September 2021: 36.6%.

    September 2020: 39.8%

    September 2019: 39.3%

    September 2018: 36.9%

    September 2017: 36.8%

    September 2016: 35.1%

    September 2015: 35.0%

    September 2014: 37.7%

    September 2013: 38.7%

    September 2012: 38.9%

    September 2011: 38.6%

    September 2010: 43.9%

    September 2009: 52.0%

    September 2008: 55.7%

    September 2007: 59.7%

    September 2006: 59.5%

    September 2005: 58.8%

    September 2004: 59.1%

    September 2003: 58.4%

    September 2002: 57.0%

    September 2001: 54.7%

    September 2000: 51.9%

    September 1999: 55.3%

    September 1998: 55.3%

    September 1997: 49.5%

    September 1996: 48.2%

    September 1995: 52.4%

    September 1994: 54.2%

    September 1993: 55.0%

    September 1992: 54.8%

    September 1991: 55.2%

    September 1990: 58.3%

    September 1989: 64.4%

    September 1988:67.9%

    September 1987: 72.9%

    September 1986: 74.2%

    September 1985: 77.7%

    September 1984: 78.4%

    September 1983: 77.8%

    September 1982: 75.6%

    September 1981: 72.9%

    September 1980: 75.0%

    September 1979: 76.0%

    Apple's second-largest country by sales is China.

    Apple generated this amount of worldwide net sales from "Greater China" (including China, Hong Kong and Taiwan, starting in year ended September 2017; including China and Hong Kong but excluding Taiwan in earlier years) in years ended:

    September 2022: 18.8% (including China, Hong Kong and Taiwan)

    September 2021: 18.7% (including China, Hong Kong and Taiwan)

    September 2020: 14.7% (including China, Hong Kong and Taiwan)

    September 2019: 16.8% (including China, Hong Kong and Taiwan)

    September 2018: 19.6% (including China, Hong Kong and Taiwan)

    September 2017: 19.5% (including China, Hong Kong and Taiwan)

    September 2016: 21.5% (including China, Hong Kong, excluding Taiwan; 22.5% including China, Hong Kong and Taiwan)

    September 2015: 24.2% (including China, Hong Kong, excluding Taiwan; 25.1% including China, Hong Kong and Taiwan)

    September 2014: 16.8% (including China, Hong Kong, excluding Taiwan)

    September 2013: 15.2%

    September 2012: 14.6%

    September 2011: 11.5%

    September 2010: 4.2%

    September 2009: 1.8%

    Apple did not report China sales for years prior to fiscal 2009.

    The U.S. and China were the only countries that accounted for more than 10% of Apple's net sales in years ended September 2011 through September 2022.

    Customers:

    No single customer accounted for more than 10% of net sales in fiscal years 2010 through 2022.

    One Apple customer accounted for 11% of sales in fiscal 2009. No single customer accounted for more than 10% of net sales in fiscal 2008 or 2007.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database for year ended Sept. 24, 2016 (fiscal 2016), and later years are Ad Age estimates.

    Apple stopped disclosing worldwide "advertising expense" in 10-K filings starting in year ended Sept. 24, 2016 (fiscal 2016).

    Apple said in its 10-K for year ended Sept. 24, 2022:

    "The year-over-year growth in selling, general and administrative expense in 2022 was driven primarily by increases in headcount-related expenses, advertising and professional services." SG&A expenses in 2022 rose $3.1 billion or 14.2%.

    Apple said in its 10-K for year ended Sept. 25, 2021:

    "The year-over-year growth in selling, general and administrative expense in 2021 was driven primarily by increases in headcount-related expenses, variable selling expenses and professional services." SG&A expenses in 2021 rose $2.1 billion or 10.3%.

    Apple said in its 10-K for year ended Sept. 28, 2020:

    "The year-over-year growth in selling, general and administrative expense in 2020 was driven primarily by increases in headcount-related expenses, higher spending on marketing and advertising, and higher variable selling expenses." SG&A expenses in 2020 rose $1.7 billion or 9.2%.

    Apple said in its 10-K for year ended Sept. 28, 2019:

    "The year-over-year growth in selling, general and administrative expense in 2019 was driven primarily by increases in headcount-related expenses and higher spending on marketing and advertising and infrastructure-related costs." SG&A expenses in 2019 rose $1.5 billion or 9.2%.

    Apple said in its 10-K for year ended Sept. 29, 2018:

    "The year-over-year growth in selling, general and administrative expense in 2018 was driven primarily by increases in in headcount-related expenses, professional services and infrastructure-related costs. The increase in selling, general and administrative expense in 2017 compared to 2016 was driven primarily by an increase in headcount-related expenses, variable selling expenses and infrastructure-related costs." SG&A expenses in 2018 rose $1.4 billion or 9.5%.

    Apple said in its 10-K for year ended Sept. 30, 2017:

    "The year-over-year growth in selling, general and administrative expense in 2017 compared to 2016 was driven primarily by an increase in headcount-related expenses, variable selling expenses and infrastructure-related costs. The decrease in selling, general and administrative expense in 2016 compared to 2015 was due primarily to lower discretionary expenditures and advertising costs, partially offset by an increase in headcount-related expenses." SG&A expenses in 2017 rose $1.1 billion or 7.5%.

    Apple said in its 10-K for year ended Sept. 24, 2016:

    "The decrease in selling, general and administrative expense in 2016 compared to 2015 was due primarily to lower discretionary expenditures and advertising costs, partially offset by an increase in headcount and related expenses. The year-over-year growth in selling, general and administrative expense in 2015 was primarily due to increased headcount and related expenses, and higher spending on marketing and advertising." SG&A expenses in 2016 fell $135 million or 0.94%. SG&A expenses surged $2.4 billion or 19.5% in 2015.

    In its 10-K filings for years ended September 2018 and September 2017, Apple said:

    "The company believes ongoing investment in research and development, marketing and advertising is critical to the development and sale of innovative products, services and technologies."

    In its 10-K filing for year ended September 2016, Apple said:

    "The company believes ongoing investment in research and development, marketing and advertising is critical to the development and sale of innovative products and technologies."

    Apple reported (from a 10-K filing) fiscal 2015 worldwide "advertising expense" of $1.8 billion; ad spending as a share of sales rose to 0.770%.

    Apple reported fiscal 2014 worldwide "advertising expense" of $1.2 billion; ad spending as a share of sales rose slightly to 0.656%.

    Apple reported fiscal 2013 worldwide ad spending of $1.1 billion; ad spending as a share of sales was up fractionally to 0.644%.

    Apple's worldwide ad spending reached $1 billion in fiscal 2012 for the first time. But advertising as a share of net sales dropped to 0.639% in fiscal 2012, the lowest level on record for the company.

    Agencies:

    Apple has had long relationships with TBWA/Media Arts Lab and predecessors TBWA/Chiat/Day and Chiat/Day.

    Chiat/Day entered the Apple core in 1981 by purchasing the advertising operations of Apple PR and ad agency Regis McKenna. Chiat/Day went on to create the groundbreaking "1984" Super Bowl commercial introducing Macintosh in January 1984.

    Apple stumbled badly in 1985, beginning with its follow-up Super Bowl commercial, "Lemmings," a controversial spot that showed a line of executives plunging off a cliff one by one because they didn't question the way business had always been done. The macabre spot prematurely introduced "Macintosh Office," a series of office automation products that Apple hadn't finished developing, and it ushered in a disastrous year when Apple closed three of six factories, terminated 20% of employees and parted ways with co-founder Steve Jobs. Those moves presaged the 1986 firing of Chiat/Day and hiring of BBDO Worldwide; John Sculley, who joined Apple as president-CEO in 1983, knew BBDO from his previous posts at PepsiCo.

    Sculley left Apple in 1993.

    Apple went through dramatic changes in 1997. Early that year, Apple brought Jobs back as an adviser. The company put its U.S. advertising account in review in June 1997, prompting Omnicom Group's BBDO to quit the global account. Jobs became de facto chief after then-CEO Gil Amelio was ousted in July 1997. TBWA/Chiat/Day (successor to Chiat/Day), which initially declined an invitation to pitch the account, entered the review in mid-July at Jobs' request. TBWA/Chiat/Day won the account in August 1997 following a truncated review that came down to that agency and Arnold Communications. Apple formally named Jobs interim chief executive in September 1997.

    Jobs went on medical leave in January 2011. He resigned as Apple's CEO in August 2011 and was succeeded as CEO by Tim Cook, previously Apple's chief operating officer.

    An early 2013 email from Apple Senior VP-Global Marketing Phil Schiller to Cook said the company "may need to start a search for a new agency. ... We are not getting what we need from them and haven't been in a while."

    Apple in April 2014 added four digital agencies to its roster: WPP's AKQA, Interpublic Group of Cos.' Huge and independents Area 17 and Kettle.

    Apple in 2013 and 2014 built a large in-house group to produce some Apple advertising; Apple in 2014 was telling recruits the in-house agency will eventually number 1,000 people.

    Apple has used in-house resources before. Apple in the 1980s had a prominent in-house group that worked on such functions as graphic design, a key discipline at the time for a company that prided itself on the simple design of its brochures, operating manuals and other print collateral materials.

    Up through 1987, Apple defined the advertising costs in its 10-K regulatory filings as including "salaries and other costs of in-house advertising, graphic design, and public relations departments, as well as costs of advertising in various media and outside advertising agencies." Starting in 1988, Apple changed its definition of ad costs, shrinking the figure to include "all direct costs of advertising in various media and outside advertising agencies."

    Awards:

    Ad Age in October 2010 named Apple the Marketer of the Decade.

    Deals and strategic moves:

    Apple made payments for acquisitions of $306 million in fiscal 2022.

    Apple made payments for acquisitions of $33 million in fiscal 2021.

    Apple made payments for acquisitions of $1.524 billion in fiscal 2020.

    Apple made payments for acquisitions of $624 million in fiscal 2019.

    Apple made payments for acquisitions of $721 million in fiscal 2018. Its largest acquisition that year was Shazam.

    Apple in September 2018 bought Shazam, a U.K-based developer of music recognition applications used for smartphones, tablets and computers. Shazam generates its revenue largely by selling online ads and on commissions from music streaming and download services such as Apple Music, Spotify and Deezer.

    Apple made payments for acquisitions of $329 million in fiscal 2017.

    Apple made payments for acquisitions of $297 million in fiscal 2016.

    Apple made payments for acquisitions of $343 million in fiscal 2015.

    Apple made payments for acquisitions of $3.765 billion in fiscal 2014. Its largest acquisition that year was Beats Electronics.

    Apple in July 2014 bought Beats Electronics (marketer of Beats headphones, speakers and audio software) and Beats Music (a subscription streaming-music service) for $2.6 billion, mostly cash. In conjunction with the acquisitions, Apple issued Apple shares valued at about $485 million (of which shares valued at about $417 million will vest over time based on recipients' continued employment with Apple). As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Dre joined Apple. Beats was started in 2008 by Iovine, chairman of Interscope Geffen A&M Records, and rap star Dr. Dre.

    Apple in January 2010 bought Quattro Wireless, a mobile ad network, for $250 million. In August 2010, Apple revealed it would close Quattro (effective Sept. 30, 2010) to focus on its proprietary iAd mobile ad platform for its own devices.

    Management and employees:

    As of Sept. 24, 2022, the company had approximately 164,000 full-time equivalent employees.

    Stock:

    Apple went public with an initial public offering Dec. 12, 1980, at $22.00 a share. The stock has split five times since the IPO. On a split-adjusted basis, the IPO share price was 10 cents a share. (Apple did a four-for-one split Aug. 28, 2020; seven-for-one stock split June 9, 2014; and two-for-one stock splits Feb. 28, 2005, June 21, 2000, and June 16, 1987.)

    R&D:

    Apple disclosed the following worldwide research and development expenses, and R&D expenses as a share of worldwide net sales, for fiscal years ended:

    September 2022: $26.3 billion (6.7%).

    September 2021: $21.9 billion (6.0%).

    September 2020: $18.8 billion (6.8%).

    September 2019: $16.2 billion (6.2%)

    September 2018: $14.2 billion (5.4%)

    September 2017: $11.6 billion (5.1%)

    September 2016: $10.0 billion (4.7%)

    September 2015: $8.1 billion (3.5%)

    September 2014: $6.0 billion(3.3%)

    September 2013: $4.5 billion (2.6%)

    September 2012: $3.4 billion (2.2%)

    September 2011: $2.4 billion (2.2%)

    September 2010: $1.8 billion (2.7%)

    September 2009: $1.3 billion (3.1%)

    September 2008: $1.1 billion (3.0%)

    September 2007: $782.0 million (3.2%)

    September 2006: $712.0 million (3.7%)

    September 2005: $535.0 million (3.8%)

    September 2004: $491.0 million (5.9%)

    September 2003: $471.0 million (7.6%)

    September 2002: $446.0 million (7.8%)

    September 2001: $430.0 million (8.0%)

    September 2000: $380.0 million (4.8%)

    September 1999: $314.0 million (5.1%)

    September 1998: $303.0 million (5.1%)

    September 1997: $485.0 million (6.8%)

    September 1996: $604.0 million (6.1%)

    September 1995: $614.0 million (5.6%)

    September 1994: $564.0 million (6.1%)

    September 1993: $665.0 million (8.3%)

    September 1992: $602.0 million (8.5%)

    September 1991: $583.0 million (9.2%)

    September 1990: $478.0 million (8.6%)

    September 1989: $420.0 million (7.9%)

    September 1988: $273.0 million(6.7%)

    September 1987: $192.0 million (7.2%)

    September 1986: $127.8 million (6.7%)

    September 1985: $72.5 million (3.8%)

    September 1984: $71.1 million (4.7%)

    September 1983: $60.0 million (6.1%)

    September 1982: $38.0 million (6.5%)

    September 1981: $21.0 million (6.3%)

    September 1980: $7.3 million (6.2%)

    September 1979: $3.6 million (7.5%)

    Apple's 10-K for year ended September 2022 said: "The year-over-year growth in R&D expense in 2022 was driven primarily by increases in headcount-related expenses and engineering program costs."

    Apple's 10-K for year ended September 2021 said: "The year-over-year growth in R&D expense in 2021 was driven primarily by increases in headcount-related expenses, R&D-related professional services and infrastructure-related costs. The company continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace, and to the development of new and updated products and services that are central to the company's core business strategy."

    Apple's 10-K for year ended September 2020 said: "The year-over-year growth in R&D expense in 2020 was driven primarily by increases in headcount-related expenses. The company continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace, and to the development of new and updated products and services that are central to the company's core business strategy."

    Apple's 10-K for year ended September 2019 said: "The year-over-year growth in R&D expense in 2019 was driven primarily by increases in headcount-related expenses. The company continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace, and to the development of new and updated products and services that are central to the company's core business strategy."

    Apple's 10-K for year ended September 2018 said: "The year-over-year growth in R&D expense in 2018 was driven primarily by increases in headcount-related expenses, infrastructure-related costs and material costs to support expanded R&D activities. R&D expense increased during 2017 compared to 2016 due primarily to increases in headcount-related expenses and material costs to support expanded R&D activities. The company continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace, and to the development of new and updated products and services that are central to the Company's core business strategy."

    Apple's 10-K for year ended September 2017 said: "The year-over-year growth in R&D expense in 2017 and 2016 was driven primarily by increases in headcount-related expenses and material costs to support expanded R&D activities. The company continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace, and to the development of new and updated products and services that are central to the company's core business strategy."

    Apple's 10-K for year ended September 2016 said: "The year-over-year growth in R&D expense in 2016 and 2015 was driven primarily by an increase in headcount and related expenses, and material costs to support expanded R&D activities. The Company continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace, and to the development of new and updated products that are central to the Company's core business strategy."

    Apple's 10-K for year ended September 2015 said: "The year-over-year growth in R&D expense in 2015 and 2014 was driven primarily by an increase in headcount and related expenses, including share-based compensation costs, and material costs to support expanded R&D activities. The Company continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and updated products that are central to the Company's core business strategy."

    Apple's 10-K for year ended September 2014 said: "The year-over-year growth in 2014 and 2013 R&D expense was driven primarily by an increase in headcount and related expenses, including share-based compensation costs and machinery and equipment to support expanded R&D activities. The company continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the Company's core business strategy. As such, the company expects to make further investments in R&D to remain competitive."

    History:

    Apple was founded in 1976 and incorporated Jan. 3, 1977.

    Apple unveiled the Macintosh computer in 1984 with its game-changing Super Bowl commercial, "1984."

    Co-founder Steve Jobs resigned in 1985. Jobs rejoined Apple (initially as "interim CEO") in September 1997, when the company was struggling with losses and declining sales.

    Jobs went on medical leave in January 2011. He resigned as Apple's CEO on Aug. 24, 2011, and was succeeded as CEO by Tim Cook, previously Apple's chief operating officer.

    Jobs died Oct. 5, 2011, at age 56 after a battle with pancreatic cancer.

    https://www.apple.com

AstraZeneca

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    AstraZeneca is a pharmaceutical marketer based in the U.K.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is an Ad Age Datacenter estimate.

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Deals and strategic moves:

    Alexion:

    AstraZeneca in July 2021 bought Alexion, a Boston-based biopharmaceutical company focused on rare diseases, for cash and stock in a transaction valued at $39 billion. Alexion shareholders ended up with about a 15% stake in the combined company.

    Acquisition proposals from Pfizer:

    Pfizer in January 2014 privately approached rival AstraZeneca with an offer to buy the company. AstraZeneca rejected the proposal.

    Pfizer in April 2014 publicly disclosed its interest in AstraZeneca and then publicly announced higher takeover offers in May 2014, including an offer valuing AstraZeneca at about $120 billion that Pfizer said was its "final proposal." AstraZeneca rejected those offers.

    Pfizer on May 26, 2014, said: "On 18 May 2014, Pfizer announced that it had made a final proposal to AstraZeneca to make an offer to combine the two companies. Following the AstraZeneca board's rejection of the proposal, Pfizer announces that it does not intend to make an offer for AstraZeneca."

    History:

    The company was formed as Zeneca Group in 1993 when Imperial Chemical Industries split off its pharmaceutical, agrochemical and specialty chemical businesses. In 1999, Zeneca merged with Sweden's Astra to form AstraZeneca.

    In 2000, AstraZeneca split off its agrochemical business and merged it with the similar agribusiness of pharma marketer Novartis to form a new company, Syngenta.

    http://www.astrazeneca.com

AT&T

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    AT&T is a telecommunications company based in Dallas. Marketing spending:

    U.S. ad spending:

    Total U.S. ad spending figures shown in the Ad Age Leading National Advertisers report and related database are Ad Age Datacenter pro forma estimates excluding WarnerMedia and DirecTV.

    Worldwide ad spending:

    Total worldwide ad spending shown for AT&T for 2022 in the Ad Age World's Largest Advertisers report and related database is AT&T's stated ad spending.

    AT&T disclosed worldwide "advertising expense" of $2.462 billion for 2022 (excluding WarnerMedia and DirecTV) and $2.732 billion for 2021 (excluding WarnerMedia; including seven months of DirecTV).

    Deals and strategic moves:

    Spin-off of WarnerMedia (2022):

    Discovery Inc. on April 8, 2022, completed its merger with the WarnerMedia business of AT&T and changed its name to Warner Bros. Discovery Inc. Shares on April 11, 2022, started trading on Nasdaq under the trading symbol WBD.

    AT&T received about $40.4 billion (including $38.8 billion of cash and $1.6 billion of debt retained by WarnerMedia). AT&T shareholders ended up with about a 71% stake in Warner Bros. Discovery; Discovery shareholders owned 29%.

    Discovery was deemed to be the accounting acquirer of WarnerMedia. So for accounting purposes, Discovery is considered Warner Bros. Discovery's predecessor.

    AT&T and Discovery announced the deal in May 2021.

    AT&T offloaded WarnerMedia less than four years after buying the company.

    AT&T's transaction with Discovery excluded WarnerMedia's Xandr, an ad tech unit that provides advertising services (primarily the AppNexus business) using data for targeted advertising. AT&T in June 2022 sold Xandr to Microsoft Corp.

    WarnerMedia in September 2021 sold entertainment platform TMZ and its related media properties to Fox Corp.'s Fox Entertainment. Fox-owned TV stations already were carrying TMZ syndicated TV programs. Under terms of the agreement, Fox now owns and operates all TMZ-branded linear, digital and experiential assets. TMZ was founded in 2005.

    AT&T's purchase of WarnerMedia (2018):

    AT&T June 14, 2018, completed its acquisition of Time Warner for total consideration of $79.4 billion (excluding Time Warner's net debt at acquisition). An AT&T filing said the company completed the deal "at 5:57 p.m. Eastern time." When the deal closed, AT&T changed Time Warner's name to "Warner Media, LLC" (branded as WarnerMedia.

    The deal closed following a ruling by a federal judge June 12, 2018, that AT&T could proceed with its takeover of Time Warner after the U.S. Justice Department in November 2017 filed a civil antitrust lawsuit to block the deal. In the lawsuit, the Justice Department said the acquisition "would substantially lessen competition, resulting in higher prices and less innovation for millions of Americans." The U.S. Court of Appeals for the District of Columbia Circuit in February 2019 rejected the Justice Department's antitrust appeal. Following that ruling, the Justice Department said it had no plans to seek further review, meaning it would not attempt an appeal to the Supreme Court.

    AT&T Oct. 22, 2016, announced the deal to buy Time Warner in a stock-and-cash transaction. valued at $85.4 billion ($107.50 a share), or $108.7 billion including Time Warner's net debt.

    Split off of DirecTV (2021):

    AT&T on July 31, 2021, completed a deal to split off its U.S. video business into a new company, DirecTV Entertainment Holdings. The deal was announced in February 2021.

    The new DirecTV owns and operates AT&T's former U.S. video business unit, consisting of the DirecTV, AT&T TV and U-verse video services.

    Following closing of the deal, AT&T deconsolidated the U.S. video operations from its consolidated results.

    The new company is jointly owned by AT&T (70% stake) and buyout firm TPG Capital (30% stake). AT&T said the transaction implied an enterprise value for the new company of $16.25 billion.

    The split off excluded AT&T's WarnerMedia HBO Max streaming platform (now Max); Vrio (AT&T's Latin American video operations, formerly part of DirecTV); AT&T's regional sports networks; U-verse network assets; and a 41% stake in Sky Mexico, which AT&T picked up in its 2015 acquisition of DirecTV. (AT&T in November 2021 sold Vrio to Grupo Werthein, a holding company in Argentina.)

    AT&T bought the old DirecTV July 24, 2015. DirecTV launched its satellite TV service in 1994.

    Other moves:

    SBC Communications in November 2005 bought AT&T Corp., the one-time parent of AT&T Wireless (before AT&T Corp. spun off AT&T Wireless in July 2001); SBC then adopted a new name, AT&T Inc.

    AT&T Inc. then bought BellSouth Corp., completing the acquisition in December 2006.

    Almost immediately after buying BellSouth, AT&T began to phase out the brand of Cingular Wireless (owned 60% by AT&T Inc. and 40% by BellSouth) in favor of AT&T. Cingular Wireless LLC became AT&T Mobility LLC.

    Cingular began in October 2000 as a joint venture of SBC and BellSouth. In October 2004, Cingular paid about $41 billion cash for standalone firm AT&T Wireless Services, which Cingular rebranded as Cingular.

    History:

    AT&T Inc. now owns four of the seven Baby Bells that on Jan. 1, 1984, broke off from American Telephone & Telegraph Co. (which became AT&T Corp.): Ameritech, BellSouth, Pacific Bell and Southwestern Bell (which became SBC).

    Rival Verizon Communications (majority owner of Verizon Wireless) is a rollup of two Baby Bells--Nynex and Bell Atlantic--and GTE.

    Qwest Communications in 2000 acquired the seventh Baby Bell, U S West. Telecom rollup CenturyLink (formerly CenturyTel) in April 2011 acquired Qwest. CenturyLink in January 2021 changed its name to Lumen Technologies. Lumen in October 2022 sold its local phone business (operating under the CenturyLink brand) in 20 Midwest and Southeast states to buyout firm Apollo Global Management.

    https://www.att.com

Baidu

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Baidu is a Chinese technology company offering a range of internet services and products.

    Baidu is based in Beijing and incorporated in the Cayman Islands.

    Business segments and operations:

    Baidu operates the dominant search engine in China.

    The company operates through two business segments:

    Baidu Core, including Baidu App (the company's flagship app), Baidu Search and other services and offerings. Baidu Core offers online marketing services and other services including cloud services, intelligent driving and Xiaodu smart devices.

    iQIYI, an online entertainment service provider in China.

    Sales and earnings:

    Baidu said revenue from operations in China accounted for more than 97% of total revenue in 2022, 2021 and 2020; and about 98% in 2019, 2018, 2017 and 2016.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending shown in the World's Largest Advertisers report and related database is Baidu's state "advertising and promotional expenses" converted to U.S. dollars at average annual exchange rates by Ad Age Datacenter.

    Advertising and promotional expenses include advertising through various forms of media and various kinds of marketing and promotional activities.

    Baidu first appeared in the Ad Age World's Largest Advertisers ranking in the December 2019 report, based on 2018 spending.

    Stock:

    Baidu in August 2005 completed an initial public offering of American depositary shares, which trade on Nasdaq.

    History:

    Baidu was incorporated in the Cayman Islands in January 2000.

    https://ir.baidu.com

Bank of America Corp.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Bank of America Corp. is a bank holding company and financial holding company based in Charlotte, North Carolina.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is Ad Age Datacenter's estimate of Bank of America's U.S. marketing spending.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is Bank of America's stated worldwide marketing spending.

    Deals and strategic moves:

    Bank of America on Jan. 1, 2009, completed a deal to buy Merrill Lynch & Co. for stock valued at $29.1 billion, adding expansive investment banking and brokerage services to the bank's product and service portfolio. Bank of America in September 2008 struck a deal to buy the investment firm amid Wall Street's financial meltdown. (Rival Citigroup, meanwhile, in May 2009 spun off Citi's brokerage business, Smith Barney.)

    Bank of America on July 1, 2008, completed a $4.2 billion stock deal to buy Countrywide Financial Corp., absorbing the troubled marketer of home mortgages. Bank of America in spring 2009 rebranded Countrywide as Bank of America Home Loans.

    Bank of America completed its acquisition of LaSalle Bank Corp. in October 2007, acquiring the Chicago-based bank from Dutch bank ABN AMRO for $21 billion cash.

    Bank of America in July 2007 completed its acquisition of U.S. Trust for $3.3 billion in cash from Charles Schwab Corp. U.S. Trust is a money manager for affluent families. Schwab bought it in May 2000. (Schwab, coincidentally, was owned by a Bank of America predecessor, San Francisco-based BankAmerica Corp., from 1983 to 1987.)

    Bank of America bought credit card issuer MBNA Corp. Jan. 1, 2006, for $34.6 billion.

    Management and employees:

    Bank of America named Brian T. Moynihan as president-CEO, effective Dec. 31, 2009. Moynihan had been president of consumer and small business banking. Moynihan joined Bank of America in 2004 when it bought FleetBoston Financial, where he had worked since 1993.

    Moynihan succeeded President-CEO Ken Lewis, who retired after 40 years with the bank. Lewis started in 1969 at Bank of America predecessor North Carolina National Bank.

    History:

    Bank of America Corp. grew out of a series of mergers cobbled together since the 1980s by what was originally North Carolina National Bank. Over the years, the company morphed its name and brand from NCNB to NationsBank to Bank of America.

    https://www.bankofamerica.com

Bayer

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Bayer is a marketer of pharmaceuticals, consumer health-care products and agricultural chemicals. The company is based in Germany.

    Business segments and operations:

    Bayer's operations are organized as:

    Pharmaceuticals: Prescription drugs.

    Consumer Health: Brands including Afrin, Aleve/Flanax, Alka-Seltzer, Bayer Aspirin, Bepanthen/Bepanthol, Canesten, Claritin, Miralax, One A Day and Supradyn.

    Crop Science: Agricultural chemicals and non-agricultural pest control products. (Bayer in June 2018 completed a deal to buy Monsanto Co., a U.S.-based agricultural products company.)

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Ad Age Datacenter revised its ad spending model for Bayer in its June 2019 report.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Ad Age Datacenter's estimate of worldwide "advertising and customer advice" expenses.

    Ad Age Datacenter revised its ad spending model for Bayer in its December 2019 report.

    Bayer stopped disclosing "advertising and customer advice" expenses in its annual report for year ended December 2017. Bayer had disclosed figures in previous annual reports.

    Deals and strategic moves:

    Animal Health sale:

    Bayer in August 2020 sold its Animal Health business to U.S.-based Elanco Animal Health. Bayer received $5.17 billion cash and shares representing a 15.5% stake in Elanco. Bayer intended to exit its stake in Elanco over time. Elanco formerly was part of Eli Lilly & Co., which spun off Elanco through an initial public offering in 2018 and an exchange offer in 2019.

    Monsanto deal:

    Bayer June 7, 2018, completed a deal to buy Monsanto Co., a Missouri-based agricultural products company, for a purchase price of 48.0 billion euros ($56.5 billion) in a move to expand Bayer's agricultural business. The Monsanto price tag, including assumed debt, was $63 billion.

    Bayer announced the deal in September 2016.

    To address potential regulatory issues, Bayer in October 2017 signed an agreement to sell selected Crop Science businesses to BASF.

    European and U.S. regulators approved the deal in 2018. To satisfy regulators, Bayer agreed to divest businesses that generated 2017 revenue of 2.2 billion euros ($2.5 billion) for a sale price of 7.6 billion euros ($8.9 billion).

    Including Monsanto and taking divestitures into account, Bayer said, the health and agriculture businesses would have been roughly equal in size in 2017, with total pro forma sales of about 45 billion euros ($50.8 billion) including combined Crop Science sales of about 20 billion euros ($22.6 billion).

    Bayer said the acquisition doubled the size of its agriculture business.

    Following closing of the deal, Bayer grappled with lawsuits regarding alleged health issues related to the weed killer Roundup, acquired in the Monsanto transaction.

    Merck deal:

    Bayer on Oct. 1, 2014, completed the acquisition of Merck & Co.'s Merck Consumer Care business for $14.2 billion (less contingent amounts held back that would be payable upon antitrust approvals in Mexico and South Korea).

    Under terms of the agreement, announced in May 2014, Bayer purchased Merck's over-the-counter business. At the same time, the two companies agreed to collaborate on developing some prescription drugs and therapies.

    Merck Consumer Care in 2013 had worldwide sales of $1.9 billion (about 70% from the U.S.), accounting for 4.3% of Merck's total worldwide sales. The deal also included prescription versions of Afrin and Claritin in countries where those products are still prescription-only. In total, Bayer said, the acquired business had 2013 pro forma revenue of about $2.2 billion ($1.5 billion from North America).

    Bayer said the acquisition of the Merck brands would give Bayer the global No. 2 position in non-prescription (over-the-counter) products. The deal included such brands as Claritin (allergy), Coppertone (sun care), Dr. Scholl's (foot health products in the Americas), Miralax (gastrointestinal) and Afrin (cold).

    Merck gained its over-the-counter portfolio in Merck's $41 billion acquisition of Schering-Plough, another major global pharmaceutical company, in 2009.

    Other deals:

    Bayer in October 2022 sold its environmental science professional business to buyout firm Cinven for about $2.3 billion (2.3 billion euros). The Cary, North Carolina-based business had about 800 employees and marketed products in more than 100 countries. It marketed environmental solutions to control pests, diseases and weeds in non-agricultural areas such as vector control, professional pest management, vegetation management, forestry and turf and ornamentals. The deal was expected to close in the second half of 2022.

    Bayer in August 2021 bought Vividion Therapeutics, a San Diego-based biopharmaceutical company, for an upfront payment of $1.5 billion and potential success-based milestone payments of up to $500 million.

    Bayer in June 2021 bought Noria Therapeutics and Noria's PSMA Therapeutics subsidiary, expanding Bayer's portfolio of prostate cancer drugs. Price tag wasn't disclosed.

    Bayer in December 2020 bought Asklepios BioPharmaceutical, a North Carolina-based biopharmaceutical company specializing in gene therapies. Price tag was an upfront payment of $2 billion and potential milestone payments of up to $2 billion based on performance.

    Bayer, in discussing plans to address the "challenging market environment," in September 2020 said it was "reviewing options to exit non-strategic businesses or brands below the divisional level."

    The company in September 2020 bought Kandy Therapeutics, a U.K.-based biotech firm, for $425 million plus potential milestone payments of up to $450 million and potential additional milestone payments.

    Bayer in August 2019 sold its Coppertone sun-care brand to Germany's Beiersdorf for $555 million. Coppertone was introduced in 1944 and had 2018 sales of about $213 million. At the time of its sale to Beiersdorf, the brand was marketed in the U.S., Canada and China.

    Bayer in November 2019 sold its 60% stake in Currenta, a German chemical plant services business, to Macquarie Infrastructure and Real Assets, an infrastructure investor.

    Bayer in November 2019 sold its Dr. Scholl's foot-care brand in the Americas for $576 million to Yellow Wood Partners, a Boston-based buyout firm. Dr. Scholl's had 2018 sales of $234 million.

    Bayer in November 2018 had said it would "review its strategic options in the coming months with a view to exiting the sun care (Coppertone) and foot care (Dr. Scholl's) product lines." Bayer acquired those brands with its October 2014 purchase of Merck's Merck Consumer Care business.

    (U.K.-based Reckitt previously owned and marketed the Scholl foot-care brand outside North America and Latin America. Reckitt in June 2021 sold its Scholl business to Yellow Wood, giving Yellow Wood global control of the Scholl brand.)

    Bayer in September 2014 announced plans to make its MaterialScience business a separate company. MaterialScience changed its name to Covestro effective Sept. 1, 2015. Covestro in October 2015 held its initial public offering, becoming a publicly traded independent company. In the IPO, Bayer reduced its stake in Covestro to 69% from 100%. Bayer as of year-end 2017 owned a 24.6% stake in Covestro. Bayer stopped consolidating Covestro financials in 2017. Covestro markets polycarbonates, polyurethanes and coatings.

    Bayer's Bayer HealthCare unit in August 2014 sold its Interventional device business to Boston Scientific for about $416 million (315 million euros). The sale included the AngioJet (thrombectomy) and Jetstream (atherectomy) systems and the Fetch2 Aspiration Catheter used in cardiology, radiology and vascular procedures. Bayer's Interventional business had 2013 worldwide sales of about $120 million. Closing of the sale was expected in second-half 2014.

    Bayer bought German drug marketer Schering for $17 billion in 2006.

    https://www.bayer.com

Berkshire Hathaway

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Berkshire Hathaway is a conglomerate assembled by renowned investor Warren Buffett. The company markets everything from Duracell and Dairy Queen to Geico insurance and Ginsu knives.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is Ad Age Datacenter's estimate of total U.S. ad spending for Berkshire Hathaway including acquisitions and including systemwide ad spending for Dairy Queen (including ad money contributed by franchisees).

    Ad Age Datacenter changed its spending model for Berkshire Hathaway's total U.S. ad spending effective with the June 2023 Leading National Advertisers report.

    Berkshire appears in Ad Age's Leading National Advertisers ranking and in this profile based mainly on Geico's ad spending.

    Geico scored No. 3 on Ad Age's ranking of the nation's most-advertised brands (behind Amazon and Walmart) based on 2022 U.S. measured-media ad spending. Geico in 2022 had U.S. measured-media ad spending of $1.5 billion, according to figures from Vivvix.

    Geico ranked No. 1 among U.S. most-advertised brands in 2021 (excluding social media data); No. 2 in 2020; No. 1 in 2019, 2018, 2017 and 2016; No. 2 in 2015; No. 3 in 2014 and 2013; No. 5 in ad spending in 2012; No. 7 in 2011; No. 10 in 2010 and 2009; No. 12 in 2008; No. 14 in 2007; No. 18 in 2006; No. 27 in 2005; No. 49 in 2004; No. 87 in 2003; No. 85 in 2002; No. 64 in 2001; No. 35 in 2000; No. 55 in 1999; and No. 140 in 1998. Measured spending totaled $77.1 million in 1998. Measured spending in 1997 ($30.4 million) was too low to make Ad Age's ranking of the 200 most-advertised brands.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is Ad Age Datacenter's estimate of total U.S. ad spending for Berkshire Hathaway including acquisitions and including systemwide ad spending for Dairy Queen and Orange Julius (including ad money contributed by franchisees). Berkshire's operations and revenue are heavily U.S.-centric.

    Deals and strategic moves:

    Selected deals:

    2022:

    Berkshire in October 2022 bought Alleghany Corp. for about $11.5 billion. Alleghany holdings included insurance and a mix of non-financial businesses including Jazwares, a toy marketer.

    2020:

    Berkshire in March 2020 sold its newspaper operations (BH Media Group; Buffalo News) to Lee Enterprises. 2016:

    Berkshire on Feb. 29, 2016, completed a deal to buy Duracell from Procter & Gamble Co. The companies had announced the deal Nov. 13, 2014. That came after P&G Oct. 24, 2014, disclosed its intent to divest the battery business as a separate company, though the October announcement said P&G would consider "any alternative exit scenario--including a spin-off, divestiture or other offer--that generates equal or better value." The Berkshire deal worked this way: P&G contributed about $1.9 billion cash to a recapitalized Duracell Co.; Berkshire then traded all the shares it owned in P&G--worth about $4.7 billion as of November 2014 (and $4.2 billion as of Dec. 31, 2015)--for Duracell Co. As part of the exit of the battery business, P&G in November 2014 also sold its interest in a China-based battery joint venture. P&G acquired Duracell in P&G's 2005 purchase of Gillette Co. In the deal announcement, Berkshire Chairman-CEO Warren Buffett said: "I have always been impressed by Duracell, as a consumer and as a long-term investor in P&G and Gillette. Duracell is a leading global brand with top quality products, and it will fit well within Berkshire Hathaway."

    2012:

    Berkshire's HomeServices of America in October 2012 announced a partnership with Brookfield Asset Management, an investment firm, to launch Berkshire Hathaway HomeServices, a real-estate brokerage franchise brand. HomeServices of America already was a major real-estate brokerage firm owned by Berkshire's MidAmerican Energy Holdings. Under the deal with Brookfield, HomeServices of America bought a majority stake in two Brookfield-owned real-estate franchising businesses, Prudential Real Estate and Real Living Real Estate. HomeServices of America ended up as the 66.7% owner of the Irvine, California-based joint venture, HSF Affiliates, which planned to rebrand the Prudential and Real Living franchise networks as Berkshire Hathaway HomeServices.

    2010:

    Berkshire in February 2010 bought Burlington Northern Santa Fe Corp., a railroad based in Fort Worth, Texas, in a deal valued at $44 billion (including $10 billion of the railroad's outstanding debt). BNSF was Berkshire's largest-ever acquisition.

    2008:

    Berkshire in April 2007 acquired VF Corp.'s women's intimate apparel (Vanity Fair, Lily of France, Vassarette, Bestform, Curvation and licensed Ilusion brands) for $350 million cash.

    2006:

    In August 2006, Berkshire bought Russell Corp., a marketer of athletic apparel and sporting goods, for about $600 million.

    History:

    Berkshire Hathaway's name comes from a now-defunct New England textile business. Buffett began investing in the textile mill in the early 1960s and took control in the mid-'60s. The company's final textile factory closed in the 1980s.

    https://www.berkshirehathaway.com

BMW Group

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    BMW Group is an auto and motorcycle marketer based in Germany.

    Business segments and operations:

    BMW's brands include BMW, Mini and Rolls-Royce.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Leading National Advertisers report is an Ad Age Datacenter estimate.

    Ad Age Datacenter changed its spending model for BMW's total U.S. ad spending effective with the June 2023 Leading National Advertisers report.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the World's Largest Advertisers report and related database is an Ad Age Datacenter estimate.

    BMW Group disclosed the following worldwide "selling expenses":

    2022: 6.191 billion euros ($6.527 billion).

    2021: 5.324 billion euros ($6.300 billion).

    2020: 5.300 billion euros ($6.049 billion).

    2019: 5.656 billion euros ($6.334 billion).

    2018: 5.848 billion euros ($6.909 billion).

    2017: 6.167 billion euros ($6.967 billion).

    2016: 6.030 billion euros ($6.676 billion).

    2015: 5.758 billion euros ($6.396 billion).

    Selling expenses are mainly marketing, advertising and sales personnel costs.

    Deals and strategic moves:

    BMW in 1994 bought the U.K.'s Rover Group, whose brands included Land Rover, Rover, MG, Triumph and Mini. BMW in 2000 divested Rover Group, except for Mini. (Ford Motor Co. in 2000 bought Land Rover from BMW; Ford in 2008 sold Land Rover to India's Tata Motors. MG now is owned by China's SAIC Motor Corp.) BMW relaunched the Mini brand in 2001.

    BMW in 1998 bought brand and naming rights for Rolls-Royce automobiles from Rolls-Royce Plc, which sells jet engines.

    History:

    Bayerische Flugzeugwerke AG began in 1916; became Bayerische Motoren Werke GmbH in 1917; and became Bayerische Motoren Werke Aktiengesellschaft (BMW AG) in 1918.

    Today's BMW Group comprises BMW AG and subsidiaries.

    https://www.bmwgroup.com

Booking Holdings

  • Marketer profile
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    Overview:

    Booking Holdings is a global online travel-services marketer based in Norwalk, Connecticut.

    The company in February 2018 changed its name to Booking Holdings from The Priceline Group. Booking.com, acquired in 2005, is the company's biggest brand.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of the company's U.S. marketing spending.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Booking Holdings' stated worldwide "marketing expenses."

    Deals and strategic moves:

    Selected deals:

    Getaroom:

    Booking Holdings in December 2021 bought Getaroom, a Dallas-based business-to-business distributor of hotel rooms, for about $1.2 billion, net of cash acquired. The company rolled Getaroom into its Priceline brand.

    Etraveli Group:

    Booking Holdings in November 2021 agreed to buy Etraveli Group, a flight booking provider based in Sweden, for about $1.7 billion.

    OpenTable:

    Booking Holdings July 24, 2014, bought OpenTable, a provider of online restaurant reservations, for about $2.5 billion (about $2.4 billion net of cash acquired).

    Kayak:

    Booking Holdings May 21, 2013, bought Kayak Software Corp., which operated the Kayak travel-reservation comparison site, for $2.1 billion ($1.9 billion net of cash acquired).

    Booking.com:

    Booking Holdings in 2005 bought Booking.com, a Europe-based hotel booking website.

    History:

    The company launched its business in the United States in 1998 under the Priceline.com brand.

    The company April 1, 2014, changed its name to The Priceline Group from priceline.com.

    The Priceline Group Feb. 21, 2018, changed its name to Booking Holdings.

    https://www.bookingholdings.com

Bristol-Myers Squibb Co.

  • Marketer profile
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    Overview:

    Bristol-Myers Squibb Co. is a pharmaceutical marketer formed in 1887.

    Bristol-Myers Squibb Co. in March 2020 changed its corporate brand to Bristol Myers Squibb from Bristol-Myers Squibb, removing the hyphen. The hyphen remains in the official name, Bristol-Myers Squibb Co.

    Business segments and operations:

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of advertising and product promotion expenses.

    Worldwide ad spending:

    Total worldwide ad spending figures shown in the Ad Age World's Largest Advertisers report and related database are Bristol Myers Squibb's stated worldwide "advertising and product promotion costs."

    Bristol Myers Squibb disclosed 2022 worldwide advertising and product promotion expenses of $1.3 billion.

    Celgene Corp. (historic):

    Bristol Myers Squibb in November 2019 bought drug maker Celgene Corp. Stated worldwide "advertising costs" for Celgene:

    2018: $174 million (1.7% of revenue)

    2017: $119 million (1.2%)

    2016: $95 million (1.4%)

    In its 10-K for year ended December 2018, Celgene said: "Advertising costs consist of direct-to-consumer advertising."

    Deals and strategic moves:

    Bristol Myers Squibb in August 2022 bought Turning Point Therapeutics, a San Diego-based clinical-stage oncology company, for $4.1 billion cash ($3.3 billion net of cash acquired).

    Bristol Myers Squibb in November 2020 bought MyoKardia, a clinical-stage biopharmaceutical company focused on cardiovascular diseases, for about $13.1 billion.

    Bristol Myers Squibb in November 2019 bought drug firm Celgene Corp. for total consideration of about $80.3 billion. In connection with that deal, Celgene on Nov. 21, 2019, sold global rights for Otezla to Amgen for $13.4 billion in cash. Otezla is a treatment for moderate-to-severe plaque psoriasis and psoriatic arthritis

    Bristol Myers Squibb in August 2012 bought Amylin Pharmaceuticals, a San Diego-based developer of diabetes drugs, for about $5.3 billion.

    Bristol Myers Squibb in February 2009 staged an initial public offering of stock for Mead Johnson Nutrition Co., a subsidiary that marketed infant formulas and other nutritional products. Mead Johnson was founded in 1905 and became a Bristol Myers Squibb subsidiary in 1967.

    After the IPO, Bristol Myers Squibb retained an 83.1% stake in Mead Johnson. On Nov. 15, 2009, Bristol Myers Squibb announced an exchange offer allowing Bristol Myers Squibb shareholders to exchange Bristol Myers Squibb shares for Mead Johnson shares. The exchange offer was completed on Dec. 23, 2009, resulting in the split-off of Mead Johnson and the disposal of Bristol Myers Squibb's entire ownership and voting interest in Mead Johnson. (Reckitt in June 2017 bought Mead Johnson Nutrition Co.)

    Bristol Myers Squibb in January 2008 sold its Medical Imaging unit. The company in August 2008 sold ConvaTec, its ostomy, wound and skin-care business.

    Bristol Myers Squibb in July 2005 sold its U.S. and Canadian over-the-counter drug business, including such brands as Excedrin, to Novartis for $661 million in cash. (Novartis and GSK in March 2015 completed a complex transaction in which the companies, among other moves, merged Novartis' Novartis OTC unit and GSK's Consumer Healthcare unit into a worldwide joint venture; GSK has a 63.5% stake and Novartis a 36.5% in that venture. GSK in 2022 spun off its Consumer Healthcare business as a standalone public company, Haleon.)

    The company in 2001 sold Clairol, its hair care business, to Procter & Gamble Co. for $4.95 billion. P&G sold Clairol to Coty in 2016.

    Joint ventures:

    Eliquis:

    Bristol Myers Squibb and Pfizer co-market Eliquis, a drug approved to reduce the risk of stroke and systemic embolism. Bristol Myers Squibb discovered Eliquis; Pfizer has paid for between 50% and 60% of development costs. The two companies share global commercialization expenses and profits/losses equally. Eliquis was launched in the U.S., Europe, Japan and Canada in first-quarter 2013. For this report, Ad Age attaches all Eliquis U.S. ad costs to Bristol Myers Squibb.

    Eliquis in 2014 accounted for nearly all of Bristol Myers Squibb's U.S. measured-media spending.

    History:

    The company was founded in 1887. Bristol-Myers Co. in 1989 changed its name to Bristol-Myers Squibb Co. after a merger with Squibb Corp.

    Bristol-Myers Squibb Co. in March 2020 changed its corporate brand to Bristol Myers Squibb from Bristol-Myers Squibb, removing the hyphen. The hyphen remains in the official name, Bristol-Myers Squibb Co.

    https://www.bms.com

Capital One Financial Corp.

  • Marketer profile
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    Overview:

    Capital One Financial Corp. is a credit card and bank company based in McLean, Virginia.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is Ad Age Datacenter's estimate of U.S. marketing expenses including spending on advertising and on direct marketing for credit cards.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Capital One's stated worldwide marketing expenses.

    History:

    Richard D. Fairbank, the company's chairman-CEO, founded Capital One in 1988.

    https://www.capitalone.com

Chanel

  • Marketer profile
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    Overview:

    Chanel is a luxury-goods marketer based in London.

    Sales and earnings:

    Chanel reported the following worldwide revenue:

    2022: $17.224 billion

    2021: $15.639 billion

    2020: $10.108 billion

    2019: $12.273 billion

    2018: $11.119 billion

    2017: $9.881 billion

    2016: $8.630 billion

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending shown in the World's Largest Advertisers report and related database is Chanel's stated worldwide "advertising, promotion and demonstration" expense.

    Chanel reported worldwide advertising, promotion and demonstration expense for 2022 of $2.052 billion.

    U.S. ad spending:

    Total U.S. advertising spending shown in the Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of Chanel's U.S. advertising, promotion and demonstration expense.

    Agencies:

    Chanel effective January 2022 moved its global media account to Omnicom Group's Omnicom Media Group from WPP's GroupM following a review.

    WPP had handled the account for more than 20 years.

    Deals and strategic moves:

    Coty on April 1, 2015, bought the Bourjois cosmetics brand from Chanel, a luxury-goods marketer based in Paris, for $376.8 million in Coty stock. Bourjois was founded in 1863.

    https://www.chanel.com

Charter Communications

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Charter Communications is the nation's second-largest cable-systems operator.

    Charter on May 18, 2016, completed its acquisitions of cable-systems operators Time Warner Cable and Bright House Networks. Charter announced the deals in May 2015 after Comcast Corp. and Time Warner Cable scrapped an earlier merger.

    The combination of Charter, Time Warner Cable and Bright House created a cable and broadband services powerhouse with more than 25 million customers in 41 states at the time of the deals' closing.

    The acquisitions made Charter the nation's No. 2 cable-systems player, behind Comcast.

    Charter in 2014 rolled out Spectrum as its new, national brand. Charter dropped the Time Warner Cable and Bright House brands in favor of the Spectrum brand (including Charter Spectrum, Spectrum TV, Spectrum Internet and Spectrum Voice).

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Charter's stated "marketing" costs.

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Charter's stated "marketing" costs.

    Stock:

    Charter became a publicly traded company on Nasdaq in 1999.

    History:

    Charter was founded in 1993.

    Charter filed for Chapter 11 bankruptcy reorganization March 27, 2009. Charter emerged from bankruptcy Nov. 30, 2009.

    The company in May 2016 acquired cable-systems operators Time Warner Cable and Bright House Network, making Charter the nation's second-largest cable-systems player, behind Comcast.

    https://corporate.charter.com

Citigroup

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Citigroup is a financial-services company based in New York.

    Citigroup has about 200 million customer accounts and does business in nearly 160 countries and jurisdictions, according to its 10-K for the year ended December 2022.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of Citigroup's spending on advertising and marketing.

    Ad Age Datacenter's estimate of U.S. spending for Citigroup includes spending on direct marketing for credit cards.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is Citigroup's stated worldwide spending on "advertising and marketing."

    Citigroup disclosed 2022 worldwide advertising and marketing spending of $1.556 billion.

    Percent change in stated worldwide advertising and marketing spending:

    2022: 4.4%
    2021: 22.4%
    2020: -19.7%
    2019: -1.9%
    2018: -3.9%
    2017: -1.5%
    2016: 5.5%
    2015: -16.1%

    Deals and strategic moves:

    Citigroup in November 2015 sold OneMain Financial Holdings, its consumer subprime-lending unit, to Springleaf Holdings. Springleaf was a publicly traded lender backed by buyout firm Fortress Investment Group. With that deal, Citigroup abandoned a plan for a OneMain initial public offering. Citigroup in October 2014 had filed for that IPO, a step toward a spinoff of the business. OneMain operated as CitiFinancial before a 2011 name change. In IPO filings, OneMain reported "advertising and marketing" expenses of $55 million in the first nine months of 2014; $46 million in the first half of 2013; $66 million in 2013; $67 million in 2012; and $83 million in 2011.

    Smith Barney sale:

    Citigroup in 2009 sold Smith Barney, its brokerage business, to a joint venture formed with Morgan Stanley in exchange for a 49% stake in the joint venture and an upfront cash payment of $2.7 billion from Morgan Stanley. The joint venture was called Morgan Stanley Smith Barney.

    Morgan Stanley in 2012 changed the name of Morgan Stanley Smith Barney to Morgan Stanley Wealth Management.

    Morgan Stanley bought an additional stake in the joint venture in 2012. Morgan Stanley in June 2013 bought the remaining stake from Citigroup, giving Morgan Stanley 100% ownership.

    Other deals:

    Amid the deep global financial crisis, Citigroup in fall 2008 agreed to buy troubled Wachovia Corp. in a deal facilitated by the Federal Deposit Insurance Corp. But rival Wells Fargo jumped in with a higher bid without FDIC aid, landing the North Carolina bank in a deal that closed Dec. 31, 2008.

    Citigroup in June 2008 sold Diners Club International, a credit card payments network, to Discover Financial Services for $168 million. Citigroup continues to issue Diners Club cards, though it no longer owns the brand.

    Government bailout:

    The U.S. government rescued Citigroup with $45 billion in TARP money in the wake of the 2008 implosion in financial markets. The government and Citigroup in June 2009 proceeded with a swap of preferred stock into common stock; as a result, the government ended up with a 34% equity stake in Citigroup.

    Citigroup in December 2009 repaid $20 billion in TARP money. As of year-end 2009, the government owned 27% of Citigroup common stock. The government in May 2010 sold about one-fifth of its Citigroup common shares and said it "expects to continue selling its shares in the market in an orderly fashion." The government completed the sale of all of its Citigroup shares in December 2010.

    Management and employees:

    Jane Fraser was named CEO effective February 2021. Fraser succeeded Michael Corbat, who had been CEO since October 2012.

    Before becoming CEO, Fraser was Citigroup president and the CEO of Global Consumer Banking.

    Stock:

    Citigroup in May 2011 executed a reverse stock split, converting 10 shares into one share; the move increased the price per share by shrinking the number of shares outstanding.

    Dow Jones & Co. removed Citigroup from the Dow Jones Industrial Average in June 2009, replacing it with Travelers Cos., successor to an insurance company that Citi spun off in 2002.

    https://www.citigroup.com/citi

Coca-Cola Co.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Coca-Cola Co. is a beverage marketer based in Atlanta.

    The company said in its 10-K for year ended December 2022:

    "The Coca-Cola Company is a total beverage company, and beverage products bearing our trademarks, sold in the United States since 1886, are now sold in more than 200 countries and territories. We own or license and market numerous beverage brands, which we group into the following categories: Trademark Coca-Cola; sparkling flavors; water, sports, coffee and tea; juice, value-added dairy and plant-based beverages; and emerging beverages. We own and market five of the world's top six nonalcoholic sparkling soft drink brands: Coca-Cola, Sprite, Fanta, Coca-Cola Zero Sugar and Diet Coke/Coca-Cola Light.

    "We make our branded beverage products available to consumers throughout the world through our network of independent bottling partners, distributors, wholesalers and retailers as well as our consolidated bottling and distribution operations. Beverages bearing trademarks owned by or licensed to the company account for 2.2 billion of the estimated 64 billion servings of all beverages consumed worldwide every day."

    Business segments and operations:

    Coca-Cola said this about competitors in its 10-K filing for calendar 2022:

    "In many of the countries in which we do business, PepsiCo, Inc. is a primary competitor. Other significant competitors include, but are not limited to, Nestle S.A., Keurig Dr Pepper Inc., Danone S.A., Suntory Beverage & Food Limited, Unilever, AB InBev, Kirin Holdings, Heineken N.V., Diageo and Red Bull GmbH. We also compete against numerous regional and local companies and, increasingly, against smaller companies that are developing microbrands and selling them directly to consumers through e-commerce retailers and other e-commerce platforms. In addition, in some markets, we compete against retailers that have developed their own store or private-label beverage brands."

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Ad Age Datacenter changed its spending model for Coca-Cola's total U.S. ad spending effective with the June 2023 Leading National Advertisers report.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Coca-Cola's stated worldwide "advertising expenses" (including media and production).

    Coca-Cola reported worldwide advertising expenses of $4.319 billion in 2022, topping its previous peak of $4.246 billion in pre-pandemic 2019 to reach an all-time high.

    Promotional and marketing programs:

    The company said in its 10-K for calendar 2022:

    "In addition to conducting our own independent advertising and marketing activities, we may provide promotional and marketing support and/or funds to our bottlers. In most cases, we do this on a discretionary basis under the terms of commitment letters or agreements, even though we are not obligated to do so under the terms of the bottler's agreements between our company and the bottlers. Also, on a discretionary basis in most cases, our company may develop and introduce new products, packages and equipment to assist the bottlers. Likewise, in many instances, we provide promotional and marketing support and/or funds and/or dispensing equipment and repair services to fountain and bottle/can retailers, typically pursuant to marketing agreements. The aggregate amount provided by our company to bottlers, resellers and other customers of our company's products, principally for participation in promotional and marketing programs, was $4.8 billion in 2022."

    That compared to spending of $4.7 billion in 2021; $4.1 billion in 2020; $4.4 billion in 2019; $4.3 billion in 2018; $6.2 billion in 2017; $6.6 billion in 2016; $6.8 billion in 2015; $7.0 billion in 2014; $6.9 billion in 2013; $6.1 billion in 2012; $5.8 billion in 2011; $5.0 billion in 2010; and $4.5 billion in 2009.

    Selling, general and administrative expenses:

    The company said in its 10-K for calendar 2022: "Selling, general and administrative expenses increased $736 million, or 6%, in 2022. This increase was primarily due to increased marketing spending, higher selling and distribution expenses, and higher annual incentive and stock-based compensation expense. The increase in selling and distribution expenses was due to the continued recovery from the COVID-19 pandemic. The increase in stock-based compensation expense was primarily due to our strong financial performance in 2022 and a more favorable outlook of our future financial performance, which resulted in higher payout assumptions as compared to 2021. In 2022, foreign currency exchange rate fluctuations decreased selling, general and administrative expenses by 6%."

    The company said in its 10-K for calendar 2021: "Selling, general and administrative expenses increased $2,413 million, or 25%, in 2021. This increase was primarily due to higher annual incentive and stock-based compensation expense, increased charitable donations and increased marketing spending, which was reduced in 2020 as a result of uncertainties associated with the COVID-19 pandemic. The increase in annual incentive and stock-based compensation expense was primarily due to improved financial performance in 2021 and a more favorable outlook of our future financial performance, which resulted in higher payout assumptions as compared to 2020. In 2021, foreign currency exchange rate fluctuations increased selling, general and administrative expenses by 2%."

    The company said in its 10-K for calendar 2020: "Selling, general and administrative expenses decreased $2,372 million, or 20%, in 2020. This decrease was primarily due to effective cost management and a reduction in marketing spending as a result of uncertainties related to the impact of the COVID-19 pandemic, the impact of savings from our productivity initiatives, the impact of a reduction in stock-based compensation expense resulting from a change in estimated payout, and a foreign currency exchange rate impact of 1%."

    Coca-Cola said in its 10-K for calendar 2019: "Selling, general and administrative expenses increased $1,101 million, or 10%. This increase was primarily the result of acquisitions, partially offset by the impact of divestitures and a foreign currency exchange rate impact of 4%. The increase in advertising costs also reflects the company's increased investments to strengthen our brands. Other operating expenses also reflect the impact of savings from our productivity initiatives."

    The company said in its 10-K for calendar 2018: "Selling, general and administrative expenses decreased $2,347 million, or 19%. The decrease in selling and distribution expenses during 2018 reflects the impact of refranchising activities throughout 2018 and the full year effect of refranchising activities that occurred during 2017. The decrease in other operating expenses during 2018 reflects savings from our productivity and reinvestment initiatives and the impact of refranchising activities throughout 2018 and the full year effect of refranchising activities that occurred during 2017."

    The company said in its 10-K for calendar 2017: "The decrease in selling and distribution expenses and advertising expenses during 2017 reflects the impact of divestitures. Additionally, advertising expenses during 2017 decreased 1% as a result of foreign currency exchange rate fluctuations. ... Foreign currency exchange rate fluctuations have a more significant impact on both advertising and other operating expenses as compared to our selling and distribution expenses since they are generally transacted in local currency."

    The company said in its 10-K for calendar 2016: "The increase in advertising expenses reflects the company's increased investments to strengthen our brands, partially offset by a foreign currency exchange impact of 3%. ... The decrease in other operating expenses reflects the shift of the company's marketing spending to more consumer-facing advertising expenses as well as savings from our productivity and reinvestment initiatives."

    The company said in its 10-K for calendar 2015: "The increase in advertising expenses reflects the company's increased investments to strengthen our brands, partially offset by a foreign currency exchange impact of 13%. ... The decrease in other operating expenses reflects the shift of the company's marketing spending to more consumer-facing advertising expenses as well as savings from our productivity and reinvestment initiatives."

    In its 10-Ks for calendar 2014 and 2013, Coca-Cola noted a move toward non-media forms of marketing: "Advertising expenses were impacted by shifts in our marketing and media spend strategies, primarily due to spending more marketing dollars toward in-store activations, loyalty points programs and point-of-sale marketing. Many of these strategies impact net operating revenues instead of marketing expenses."

    In its 10-K for calendar 2012, the company said: "Advertising expenses increased during the year and reflect the company's continued investment in the health and strength of our brands and building market execution capabilities while simultaneously capturing incremental marketing efficiencies."

    In its 10-K for calendar 2011, the company said: "Advertising expenses increased during the year and reflect the company's continued investment in the health and strength of our brands and building market execution capabilities."

    In its 10-K for calendar 2010, the company said: "The increase in advertising expenses [in 2010] reflected the company's continued investment in our brands and building market execution capabilities."

    In its 10-K for calendar 2009, the company said: "Advertising expenses [in 2009] were impacted by shifts in our marketing and media spend strategies, primarily due to spending more marketing dollars toward in-store activations, loyalty points programs and point-of-sale marketing. Many of these strategies impact net operating revenues instead of marketing expenses."

    Deals and strategic moves:

    Coca-Cola in May 2022 said it was discontinuing Honest Tea as part of a decision to focus its ready-to-drink tea portfolio on brands "with the greatest potential for scale and profitable growth" (namely, its Gold Peak and Peace Tea brands). The company said it would continue to market the associated Honest Kids product lines. Coca-Cola in February 2008 bought 40% of premium tea marketer Honest Tea with an option to buy the rest after three years. Coca-Cola in March 2011 bought the remaining 60% stake. Honest Tea had 2010 sales of $72 million.

    Coca-Cola in November 2021 bought the remaining 70% stake in BodyArmor (BA Sports Nutrition), a U.S.-based marketer of a premium sports drink, for $5.6 billion cash. The company manages BodyArmor as a separate business within Coca-Cola's North America operating unit. Coca-Cola bought a minority stake in 2018.

    Coca-Cola in October 2020 revealed plans to discontinue Zico, its coconut water brand, by the end of 2020. The company in November 2013 had purchased the remaining ownership stake in Zico Beverages, marketer of Zico Pure Premium Coconut Water. Coca-Cola Co. made its first investment in Zico in 2009 and bought a majority stake in 2012. El Segundo, California-based Zico was founded in 2004.

    Coca-Cola in July 2020 discontinued its Odwalla brand. The company in December 2001 bought Odwalla, a U.S. marketer of juices, smoothies, dairy-free shakes, spring water and food bars, in a deal Coca-Cola valued at about $190 million.

    The company in January 2020 bought the remaining 57.5% stake in Fairlife from its joint venture partner, Select Milk Producers, for $979 million in cash (net of cash acquired), increasing Coca-Cola's ownership to 100% from 42.5%. Fairlife launched in 2012 with a high-protein milk shake called Core Power and over time expanded into other dairy products.

    Coca-Cola in January 2019 bought coffee marketer Costa Ltd. from Whitbread, a U.K.-based hotel and restaurant company, for $4.9 billion cash. Costa, founded in London in 1971, as of 2018 operated 4,000 retail outlets in more than 30 countries, a coffee vending business, for-home coffee formats and a roastery. At the time of the acquisition, Costa operated in Europe, Asia Pacific, the Middle East and Africa. In its 10-K filing in February 2020, Coca-Cola said: "We believe this acquisition will allow us to increase our presence in the hot beverage market as Costa has a scalable platform across multiple formats and channels, including opportunities to introduce ready-to-drink products."

    Unilever in March 2017 sold AdeS, a soy beverage business in Latin America, to Coca-Cola Co. and Coca-Cola Femsa for $575 million.

    Coca-Cola in 2016 bought Xiamen Culiangwang Beverage Technology Co., Ltd. (China Green). Coca-Cola in April 2015 had signed a deal to buy the company for about $400 million including debt. China Culiangwang was founded in 1998 and markets plant-based protein drinks in China.

    Coca-Cola Co. in May 2016 completed a deal to merge Coca-Cola Erfrischungsgetranke (the largest German bottler and a wholly owned subsidiary of Coca-Cola Co. ) with Coca-Cola Enterprises (a U.S.-based independent bottling company operating in Western Europe) and Coca-Cola Iberian Partners (an independent bottling company operating in Spain, Portugal and Andorra) into Coca-Cola European Partners, a new London-based company that became the world's largest independent Coca-Cola bottler based on net revenue. Coca-Cola Enterprises' shareowners ended up with a 48% stake in Coca-Cola European Partners; Coca-Cola Iberian Partners' shareowners own 34%; Coca-Cola Co. owns 18%.

    The company in June 2015 bought a 16.7% stake in Monster Beverage Corp. as part of a new long-term strategic partnership with the energy-drink marketer. The deal expanded an existing distribution agreement between Coca-Cola and Monster that dated to 2008. In announcing the deal, Coca-Cola said: "The partnership strategically aligns both companies for the long-term by combining the strength of The Coca-Cola Company's worldwide bottling system with Monster's dedicated focus and expertise as a leading energy player globally." Under the deal, Coca-Cola paid $2.15 billion cash to Monster. In addition, Coca-Cola transferred ownership of its worldwide energy business, including NOS, Full Throttle, Burn, Mother, BU, Gladiator, Samurai, Nalu, BPM, Play and Power Play, to Monster; Monster transferred its non-energy business, including Hansen's Natural Sodas, Peace Tea, Hubert's Lemonade and Hansen's Juice Products, to Coca-Cola.

    The company in October 2010 bought the North American operations of Coca-Cola Enterprises, the world's largest bottler of Coca-Cola products. Coca-Cola Enterprises accounted for about 47% of the company's U.S. concentrate sales in 2009. The two firms already were closely aligned; as of year-end 2009, Coca-Cola Co. owned a 34% stake in Coca-Cola Enterprises. (Rival PepsiCo also acquired key Pepsi bottling operations in 2010.)

    Coca-Cola in June 2007 paid $4.1 billion for Energy Brands, also known as Glaceau, the marketer of "enhanced" water brands including Vitaminwater, Fruitwater and Smartwater.

    Coca-Cola in first-quarter 2007 bought Fuze Beverage, a U.S.-based marketer of Fuze enhanced juices and teas, and Leao Junior, a Brazilian herbal beverage company.

    Management and employees:

    CEO:

    James Quincey, Coca-Cola's president and chief operating officer, succeeded Muhtar Kent as CEO May 1, 2017. Kent continued as chairman until April 2019, when Quincey became chairman-CEO.

    Quincey joined Coca-Cola in Atlanta in 1996 as director, learning strategy, for the Latin America Group.

    Prior to joining Coca-Cola, Quincey was a partner in strategy consulting at Kalchas Group, a spinoff from Bain & Co. and McKinsey. Quincey, who is bilingual in English and Spanish, received a bachelor's degree in electronic engineering from the University of Liverpool.

    History:

    Coca-Cola was founded in 1886.

    https://www.coca-colacompany.com

Colgate-Palmolive Co.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Colgate-Palmolive Co. is a consumer products marketer that sells its goods in more than 200 countries and territories.

    Business segments and operations:

    New York-based Colgate splits its business into two product segments: oral, personal and home care; and pet nutrition.

    Colgate's oral care brands include Colgate, Darlie, Elmex, Hello, Meridol, Sorriso and Tom's of Maine.

    Personal care brands include EltaMD, Filorga, Irish Spring, Lady Speed Stick, Palmolive, PCA Skin, Protex, Sanex, Speed Stick, Softsoap and Tom's of Maine.

    Home care brands include Ajax, Axion, Cuddly, Fabuloso, Murphy, Palmolive, Soupline and Suavitel.

    Colgate, through its Hill's Pet Nutrition unit, sells premium pet food in more than 80 countries and territories worldwide. Hill's markets pet foods primarily under two brands: Hill's Science Diet, sold by pet supply retailers and veterinarians for everyday nutritional needs, and Hill's Prescription Diet, sold by veterinarians. (Rival Procter & Gamble Co. in 2014 sold most of its pet food business, including Iams, to Mars Inc.)

    Sales and earnings:

    Sales to Walmart (Walmart, Sam's Club) accounted for about 11% of the company's net sales in 2022; 12% in 2021 and 2020; and 11% in 2019, 2018, 2017, 2016 and 2015.

    No other customer represented more than 10% of the company's net sales in the years from 2009 through 2022.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Colgate's stated worldwide advertising costs.

    Colgate reported 2022 worldwide advertising costs of $1.997 billion. In its 10-K for calendar 2022, the company said: "We support our products with advertising, promotion and other marketing (with increasing emphasis on digital) to build awareness and trial of our products."

    Colgate said in its 10-K for calendar 2022: "In 2022, advertising investment decreased as a percentage of net sales to 11.1% from 11.6% in 2021 and decreased by 1.2% in absolute terms to $1,997 (million) as compared with $2,021 (million) in 2021."

    Colgate said in its 10-K for calendar 2021: "In 2021, advertising investment decreased as a percentage of net sales to 11.6% from 11.9% in 2020, while it increased in absolute terms by 3.7% to $2,021 (million) as compared with $1,948 (million) in 2020."

    Colgate said in its 10-K for calendar 2020: "In 2020, advertising investment increased as a percentage of net sales to 11.9% from 10.8% in 2019 or 15.0% in absolute terms to $1,948 (million) as compared with $1,694 (million) in 2019."

    Colgate said in its 10-K for calendar 2019: "In 2019, advertising investment increased as a percentage of net sales to 10.8% from 10.2% in 2018 or 6.5% in absolute terms to $1,694 (million) as compared with $1,590 (million) in 2018."

    Colgate said in its 10-K for calendar 2018: "In 2018, advertising investment increased 1% to $1,590 (million) as compared with $1,573 (million) in 2017, while as a percentage of net sales it was 10.2%, even with 2017."

    Colgate said in its 10-K for calendar 2017: "In 2017, advertising investment increased 10.2% to $1,573 (million) as compared with $1,428 (million) in 2016, and increased as a percentage of net sales to 10.2% from 9.4% in 2016."

    Colgate said in its 10-K for calendar 2016: "In 2016, advertising investment decreased 4.2% to $1,428 (million) as compared with $1,491 (million) in 2015, while as a percentage of net sales, it increased to 9.4% from 9.3% in 2015."

    Colgate said in its 10-K for calendar 2015: "In 2015 , advertising investment decreased 16.4% to $1,491 (million) as compared with $1,784 (million) in 2014 , largely reflecting the impact of negative foreign exchange, and decreased as a percentage of net sales to 9.3% from 10.3% in 2014, in part reflecting a shift from advertising investment to in-store promotional activity."

    Colgate markets its products through advertising and other promotional activities. The company includes advertising costs in selling, general and administrative expenses.

    Stated advertising costs exclude money that Colgate gives to retailers for cooperative advertising.

    The company's net sales reflect sales after deducting the following costs: coop advertising; product listing allowances; volume-based sales incentives given to trade customers; consumer coupons.

    Deals and strategic moves:

    Colgate in January 2020 bought Hello Products, a U.S. oral care brand, for $351 million. Hello had been a portfolio company of Tenth Avenue Holdings, a New York-based private, diversified holding company.

    Colgate in September 2019 bought Filorga (Laboratoires Filorga Cosmetiques), an anti-aging skin care brand founded in France in 1978. Price tag was $1.712 billion.

    (In fourth-quarter 2022, Colgate took a non-cash charge of $721 million pretax ($620 million after tax) to adjust the carrying values of goodwill and intangible assets related to Filorga. The 10-K filing for calendar 2022 said: "The impairment was due primarily to the continued impact of the COVID-19 pandemic on the Filorga business, particularly in China, as a result of government restrictions and reduced consumer mobility, which negatively impacted consumption in the duty-free, travel retail and pharmacy channels, and the impact of significantly higher interest rates.")

    Colgate in January 2018 bought two professional skin care businesses--Physicians Care Alliance, marketer of the PCA Skin brand, and Elta MD Holdings, marketer of the EltaMD brand--for about $730 million. Colgate said estimated 2017 worldwide net sales (including U.S., China and certain other international markets) for the two brands was about $100 million. In its deal announcement, Colgate said: "These acquisitions will enable Colgate to enter the highly attractive professional skin care category while complementing its existing global personal care businesses. PCA Skin is a leader in medical-grade in-office and take-home skin care products, and has strong support from dermatologists, plastic surgeons and aestheticians. EltaMD is a leading physician-dispensed sun care brand with a unique positioning around broad-spectrum, everyday use, physician-dispensed sunscreen."

    The company in August 2015 sold its laundry detergent business in the South Pacific to Henkel for about 310 Australian dollars (U.S. $221 million).

    Colgate in October 2014 bought an oral care business in Myanmar for $62 million plus additional payments based on performance targets.

    Colgate in June 2011 bought Sanex, a European personal care brand, from Unilever for $966 million cash. As part of that agreement, Unilever then in July 2011 acquired Colgate's laundry detergent operation in Colombia for $215 million, expanding Unilever's detergent sales in that country. Unilever acquired Sanex in December 2010 as part of Unilever's acquisition of Sara Lee Corp.'s body-care and European detergents businesses; European Commission regulators had required Unilever to sell Sanex as part of the terms for approving the Sara Lee deal.

    Colgate in May 2006 bought 84% of Tom's of Maine for about $100 million. Colgate in 2012 bought the remaining 16% stake for $18 million. Tom's of Maine markets toothpaste and deodorant in health-food stores and other outlets.

    Earlier acquisitions included Mennen Co., marketer of Speed Stick (1992); Murphy-Phoenix Co., marketer of Murphy's Oil Soap (1991); Softsoap (1987); and Hill's (1976).

    History:

    Colgate was founded in 1806 and incorporated in 1923.

    https://www.colgatepalmolive.com

Comcast Corp.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Comcast Corp. is a global media and entertainment company.

    Comcast has three primary businesses: Comcast Cable, the largest U.S. cable-systems business; NBCUniversal, a TV, film and theme parks business; and Sky, a pay TV service in Europe.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are stated worldwide expenses for "marketing and promotion" (known as "advertising, marketing and promotion" prior to 2023).

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Ad Age Datacenter's estimate of Comcast's U.S. expenses for marketing and promotion.

    Amazon displaced Comcast as the biggest advertiser in the June 2020 ranking of Ad Age Leading National Advertisers based on calendar 2019 spending. Amazon kept the top spot based on estimated spending in calendar 2020, 2021 and 2022. Ad Age ranks Amazon based on estimated U.S. "advertising and other promotional costs."

    Deals and strategic moves:

    Sky:

    Comcast in 2018 bought Sky, a U.K.-based satellite TV firm.

    Comcast in September 2018 beat rival 21st Century Fox in an auction to acquire Sky. British Sky Broadcasting Group Plc (BSkyB) changed its name to Sky Plc in 2014.

    21st Century Fox:

    The Sky acquisition came after Comcast in July 2018 abandoned a short-lived attempt to acquire 21st Century Fox. Comcast's exit cleared the way for Walt Disney Co. to proceed with a deal to acquire 21st Century Fox. Disney completed its acquisition of 21st Century Fox on March 20, 2019.

    Termination of Time Warner Cable acquisition:

    Comcast and Time Warner Cable on April 24, 2015, terminated a deal for Comcast to buy Time Warner Cable, the nation's No. 2 cable-systems operator and No. 4 multichannel video programming distributor (behind Comcast, DirecTV and Dish Network Corp.). The companies in February 2014 had announced the deal, valued at about $45.2 billion, but the merger faced strong pushback from the Federal Communications Commission and the Justice Department.

    Just a month after Comcast and Time Warner Cable scrapped their transaction, smaller cable player Charter Communications on May 26, 2015, announced its own deal to buy Time Warner Cable and a revised deal to buy cable-systems operator Bright House Networks. (Charter in March 2015 had reached an initial agreement to buy Bright House.) Charter on May 18, 2016, completed its acquisitions of Time Warner Cable and Bright House Networks.

    These moves played into a rapidly consolidating market for U.S. pay TV. AT&T, which operated the U-verse TV service, in July 2015 completed a deal (announced in May 2014) to buy satellite firm DirecTV. AT&T in July 2021 split off its U.S. video business into a new company named DirecTV Entertainment Holdings. The new DirecTV owns and operates AT&T's former U.S. video business unit, consisting of the DirecTV, AT&T TV and U-verse video services. (AT&T Corp., predecessor to today's AT&T Inc., had been the No. 1 cable-systems operator until selling that business, AT&T Broadband, to Comcast in 2002.)

    Time Warner spun off Time Warner Cable as a separate public company in March 2009.

    AT&T acquired Time Warner in June 2018 and changed Time Warner's name to WarnerMedia.

    AT&T offloaded WarnerMedia less than four years later when Discovery on April 8, 2022, completed a merger with WarnerMedia and changed Discovery's name to Warner Bros. Discovery.

    Hulu:

    NBCUniversal owns an approximately 33% stake in Hulu, a streaming service. Disney owns the rest and has full operational control of Hulu.

    Disney acquired 21st Century Fox on March 20, 2019, giving Disney a two-thirds stake and controlling interest. Disney at that point began to consolidate Hulu results.

    Disney and Comcast in May 2019 reached an agreement giving Disney full operational control of Hulu.

    Under that pact, the companies entered a "put/call" agreement regarding NBCUniversal's one-third ownership stake. Under the put/call agreement, as early as January 2024, Comcast can require Disney to buy NBCUniversal's interest in Hulu and Disney can require NBCUniversal to sell that interest to Disney for its fair market value at that future time. Disney guaranteed a sale price for Comcast that represents a minimum total equity value of Hulu at that time of $27.5 billion.

    Acquisition of NBCUniversal:

    Comcast on March 19, 2013, bought General Electric Co.'s remaining 49% stake in NBCUniversal for about $16.7 billion, giving Comcast 100% ownership of NBCUniversal. At the same time, Comcast purchased from GE the properties used by NBCUniversal at 30 Rockefeller Plaza in New York and CNBC's headquarters in Englewood Cliffs, N.J., for about $1.4 billion.

    Comcast acquired its initial 51% stake from GE on Jan. 28, 2011, allowing Comcast to consolidate NBCUniversal's financials with Comcast's financials. At that time, NBCUniversal changed its legal name to NBCUniversal Media LLC, which became a wholly owned subsidiary of NBCUniversal Holdings. Comcast calculated the purchase price at $24.1 billion. GE retained a 49% stake until the March 2013 sale.

    Olympics broadcast rights:

    The International Olympic Committee in May 2014 awarded NBCUniversal U.S. broadcast rights for the Olympic Games through 2032. The broadcast rights cover all media platforms, including free-to-air TV, subscription TV, internet and mobile. The IOC valued the agreement for 2021-2032 rights at $7.65 billion (plus an additional $100 million "signing bonus").

    NBCUniversal already owned broadcast rights through 2020. The IOC in June 2011 awarded NBCUniversal the U.S. media rights to the 2014 Sochi Olympic Games, 2016 Rio de Janeiro Olympic Games, 2018 Pyeongchang Olympic Games and 2020 Tokyo Olympic Games for $4.38 billion, extending NBC's Olympic run. (Amid the COVID-19 pandemic, the 2020 games were postponed until 2021.) NBCUniversal's previous broadcast contract had been set to end after the 2012 London Summer Olympics, NBC's 13th Olympic Games broadcast and seventh consecutive Olympics broadcast.

    Following the conclusion of the Winter Olympics in 2022, NBC has broadcast 18 Olympic Games, including 12 consecutive Olympic Games.

    By 2032, NBCUniversal will have covered 23 Olympic Games since the network's first Games broadcast in Tokyo in 1964.

    Other deals:

    NBCUniversal, through its Fandango unit, in April 2020 purchased Vudu from Walmart. Vudu, acquired by Walmart in 2010, lets consumers watch movies delivered over broadband.

    Comcast in February 2020 bought Xumo, a free, ad-supported content streaming service, from Panasonic Corp. and Meredith Corp. In announcing the deal, Comcast said Xumo would operate as an independent business inside of Comcast Cable.

    NBCUniversal in September 2019 announced Peacock as the name of a content streaming service. Peacock, which generates revenue from advertising and subscriptions, launched in 2020.

    Comcast in 2018 entered a deal with a group of Chinese state-owned companies to develop a Universal theme park and resort in Beijing. Comcast owns a 30% stake in the venture.

    NBCUniversal and two buyout firms, Blackstone Group and Bain Capital, previous owned Weather Co., parent of the Weather Channel. NBCUniversal bought its stake in 2008 and owned a 25% interest as of 2013. IBM Corp. in January 2016 bought Weather Co.'s business-to-business, mobile and cloud-based web properties, including WSI, weather.com, Weather Underground and The Weather Company brand, for $2.278 billion cash. IBM didn't buy the cable TV segment (The Weather Channel); the cable channel licenses weather forecast data and analytics from IBM under a long-term contract. Entertainment Studios, an independent TV and movie producer and distributor, in March 2018 acquired the Weather Channel cable channel from NBCUniversal, Blackstone and Bain. Entertainment Studios is owned by former comedian Byron Allen.

    NBCUniversal in April 2017 bought the remaining 49% stake in Universal Studios Japan for about $2.3 billion, giving it 100% ownership. It had purchased a 51% stake for $1.5 billion in November 2015.

    Time Warner's Warner Bros. in April 2016 sold its Flixster business (including Rotten Tomatoes, a movie-review analysis website) to Comcast's NBCUniversal in exchange for a 25% stake in NBCUniversal's Fandango.

    Stock:

    Comcast on April 1, 1969, filed with the SEC for an initial public offering. Comcast completed its IPO in 1972.

    History:

    Comcast traces its roots to 1963 when Ralph Roberts (father of current CEO Brian Roberts), through International Equity Corp., bought American Cable Systems, a 1,200-subscriber cable system in Tupelo, Miss.

    Ralph Roberts had formed International Equity Corp. to invest in new businesses after he sold Pennsylvania-based Pioneer Suspender Co., which made belts and suspenders.

    American Cable Systems in 1969 was renamed Comcast (short for "communications" and "broadcasting") and incorporated in Pennsylvania; at the time Comcast continued to do business through the American Cable Systems division.

    Ralph Roberts died June 18, 2015, at age 95.

    Comcast displaced Time Warner as the nation's largest media company after Time Warner completed its spinoff of Time Warner Cable in March 2009. Time Warner had held the top spot in Advertising Age's 100 Leading Media Companies report since 1995.

    Comcast, GE and NBC have historical connections.

    In 1919, GE led a consortium--consisting of GE, American Telephone & Telegraph Co., Westinghouse Electric & Manufacturing Co. (GE's longtime rival) and United Fruit Co. (an early investor in radio technology)--to form a radio manufacturer, Radio Corporation of America (RCA), as a reorganization of Marconi Wireless Telegraph Co. of America.

    In 1926, RCA formed National Broadcasting Co., or NBC, which operated multiple radio broadcast networks. NBC delivered content to affiliates over AT&T long-distance lines. To avoid antitrust issues, AT&T sold New York station WEAF to RCA and dropped out of the RCA owners' consortium.

    NBC (originally 50% owned by RCA, 30% by GE and 20% by Westinghouse) served affiliates of WEAF (now WFAN-AM, owned by Entercom), over Red Network, and WJZ (now WABC-AM, owned by Cumulus Media), over Blue Network.

    In 1930, the Justice Department brought antitrust action against RCA, GE and Westinghouse. Under a consent decree in 1932, GE and Westinghouse agreed to sell their stakes in RCA.

    To resolve antitrust issues, RCA in 1943 sold Blue Network, which became American Broadcasting Co. (Disney in 1996 bought Capital Cities/ABC, bringing ABC into the Disney fold. Disney spun off the ABC radio network and radio stations in 2007 to Citadel Broadcasting Corp., which was acquired by Cumulus Media in 2011.)

    In 1986, GE bought RCA Corp., parent of NBC. The next year, GE sold RCA's consumer electronics business. The RCA brand now is owned by French firm Technicolor, which licenses it to marketers in various categories.

    Westinghouse evolved into today's Paramount Global.

    In December 2001, Comcast signed a deal to buy AT&T Broadband, the cable-systems business of AT&T Corp. (successor to American Telephone & Telegraph Co.), making Comcast No. 1 in cable systems. The press release announcement issued by AT&T Corp. and Comcast said: "The new company, to be called AT&T Comcast Corporation, will be one of the leading and most powerful communications, media and entertainment companies in the world." While Comcast initially planned to use the name "AT&T Comcast" it ditched "AT&T" and kept the name "Comcast Corp." when the deal closed in November 2002.

    Today's AT&T Inc., a successor to AT&T Corp., competed against Comcast and other cable-systems companies with DirecTV, a satellite TV service, and U-verse, a video, broadband and voice service. AT&T in July 2015 acquired DirecTV, the nation's largest satellite TV service. AT&T on July 31, 2021, split off its U.S. video business into a new company, DirecTV Entertainment Holdings. The new DirecTV owns and operates AT&T's former U.S. video business unit, consisting of the DirecTV, AT&T TV and U-verse video services.

    AT&T in June 2018 bought Time Warner (renamed WarnerMedia), the parent of Warner Bros., Turner and Home Box Office. AT&T offloaded WarnerMedia less than four years after buying the company. AT&T and Discovery in May 2021 signed a deal to merge AT&T's WarnerMedia with Discovery. Discovery on April 8, 2022, completed its merger with WarnerMedia and changed Discovery's name to Warner Bros. Discovery.

    https://corporate.comcast.com

Compagnie Financiere Richemont

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Compagnie Financiere Richemont is a luxury-goods marketer based in Geneva.

    Business segments and operations:

    Richemont's activities and products include jewelry, expensive watches and premium accessories.

    The businesses operate in four areas:

    Jewellery Maisons: Buccellati, Cartier, Van Cleef & Arpels.

    Specialist watchmakers: A. Lange & Sohne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture.

    Online distributors: Watchfinder, Yoox Net-A-Porter.

    Other: Alaia, AZ Factory, Chloe, Alfred Dunhill, Montblanc, Peter Millar, Purdey.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is Richemont's stated "communication expenses" converted to dollars by Ad Age Datacenter at average exchange rates.

    The company disclosed the following communication expenses:

    2022 (year ended March 31, 2023; fiscal 2023): 1.940 billion euros ($2.021 billion).
    2021 (year ended March 31, 2022; fiscal 2022): 1.655 billion euros ($1.924 billion) (restated).
    2020 (year ended March 31, 2021; fiscal 2021): 1.030 billion euros ($1.202 billion).
    2019 (year ended March 31, 2020; fiscal 2020): 1.415 billion euros ($1.573 billion).
    2018 (year ended March 31, 2019; fiscal 2019): 1.338 billion euros ($1.550 billion).
    2017 (year ended March 31, 2018; fiscal 2018): 1.106 billion euros ($1.294 billion).
    2016 (year ended March 31, 2017; fiscal 2017): 1.119 billion euros ($1.229 billion).

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Deals and strategic moves:

    Yoox Net-A-Porter:

    Richemont in August 2022 agreed to sell a controlling stake in e-commerce venture Yoox Net-A-Porter.

    Under the agreement, e-commerce firm Farfetch will buy a 47.5% stake and Symphony Global will buy a 3.2% stake.

    Farfetch is a global e-commerce platform for the luxury fashion industry. Symphony Global is an investment arm of Mohamed Alabbar, an investor in the United Arab Emirates. Richemont expected to complete the deal before the end of calendar year 2023.

    Richemont in March 2018 began a tender offer for all shares of Yoox Net-A-Porter Group. Richemont in June 2018 took control of untendered shares following the tender offer.

    Richemont from 2015 until the tender offer had been an investor in Yoox Net-A-Porter Group.

    Specifically, Richemont in October 2015 completed a deal to merge an e-commerce subsidiary, Net-A-Porter Group, with Italy-based Yoox, a publicly traded global internet retailing partner for fashion brands. Richemont received a 50% stake in the merged venture, Yoox Net-A-Porter Group; Richemont's voting rights were limited to 25%. Richemont had been controlling shareholder of Net-A-Porter since 2010 and was a minority shareholder before that.

    History:

    Richemont was created in 1988 by the spinoff of the international assets owned by Rembrandt Group of South Africa (now known as Remgro). Rembrandt Group, established in the 1940s, owned interests in tobacco, financial services, wines and spirits, gold and diamond mining industries as well as luxury goods investments that, along with an investment in tobacco marketer Rothmans International, would form Richemont.

    https://www.richemont.com

Coty

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Coty is a beauty products marketer that markets, sells and distributes its products in about 126 countries and territories.

    Coty in November 2020 sold a majority stake in Coty’s professional and retail hair business to buyout firm KKR. The deal included the Wella, Clairol, OPI and GHD brands.

    Business segments and operations:

    Coty operates through two business segments:

    Prestige
    Consumer Beauty (mass beauty brands)

    Customers:

    Coty said Walmart, its top retailer, accounted for about 5% of net revenue from continuing operations in year ended June 2023; 6% in year ended June 2022; 7% in years ended June 2021 and June 2020; 6% in years ended June 2019 and June 2018; 7% in years ended June 2017, June 2016 and June 2015; 6% in year ended June 2014; and 7% in years ended June 2013 and June 2012.

    Coty said no customer or group of affiliated customers accounted for more than 10% of worldwide net revenue in fiscal years 2009 through 2023.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Ad Age Datacenter estimates of Coty’s U.S. “advertising and promotional costs.”

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World’s Largest Advertisers report and related database are Coty’s worldwide “advertising and promotional costs.”

    Coty disclosed worldwide advertising and promotional costs of about $1.480 billion in year ended June 2023; $1.465 billion in year ended June 2022; $1.029 billion in year ended June 2021; $1.344 billion in year ended June 2020; $1.596 billion in year ended June 2019 (restated); and $1.837 billion in year ended June 2018 (restated).

    Included in stated advertising and promotional costs were depreciation of marketing furniture and fixtures, such as product displays, of $103.0 million in fiscal 2023; $119.4 million in fiscal 2022; $130.3 million in fiscal 2021; $127.9 million in fiscal 2020; $120.4 million in fiscal 2019 (restated); and $113.0 million in fiscal 2018 (restated).

    Deals and strategic moves:

    Sale of hair products business (Wella):

    Coty on June 1, 2020, announced a deal to sell a 60% stake in Coty’s professional and retail hair business to buyout firm KKR. Coty completed the sale Nov. 30, 2020. Coty kept the remaining 40% stake.

    The deal included the Wella, Clairol, OPI and GHD brands.

    The divested business, which took the name Wella, had net revenue of $986 million from July 1, 2020, through Nov. 30, 2020 (five months); and $2.0 billion in year ended June 2020.

    Coty received net cash proceeds of about $2.4 billion in the sale.

    The deal valued the business at $4.3 billion on a cash- and debt-free basis.

    In a related transaction, KKR invested $1 billion directly into Coty through the issuance of convertible preferred shares.

    Coty in October 2021 and November 2021 swapped some of its Wella stake for a portion of KKR’s Coty stake. As a result, Coty’s interest in Wella fell to 25.9%; KKR’s Wella ownership increased to 74.1%.

    KKR sold its remaining Coty holdings late in 2021.

    Coty owned a 25.9% stake in Wella as of June 30, 2023.

    Coty in July 2023 agreed to sell a 3.6% stake in Wella to IGF Wealth Management, an investment firm, for $150 million. That reduced Coty’s stake to 22.3%.

    Procter & Gamble’s beauty business:

    Procter & Gamble Co. in October 2016 completed a deal with Coty to divest P&G’s beauty products business (salon professional, hair color, cosmetics, fragrances, selected hair-styling brands) into Coty, doubling the size of Coty.

    Purchase price was $11.57 billion, consisting of $ 9.63 billion in total equity consideration and $1.94 billion in assumed debt.

    P&G shareholders ended up with an approximately 54% stake in the expanded Coty, while Coty’s existing shareholders owned 46%.

    Under the deal, P&G divested four categories (hair care and color; retail hair color; cosmetics; fine fragrance) including 41 beauty brands (including CoverGirl, Clairol and Wella Professional).

    Coty said the P&G beauty brands business was mainly established from P&G’s acquisition of Noxell Corp. (marketer of CoverGirl) in 1989, the trade name purchase of Max Factor in 1991, the acquisition of Clairol in 2001, the acquisition of Wella AG in September 2003 and later brand and license acquisitions.

    Brands included in the transaction were Wella Professionals (and its sub-brands), Sebastian Professional, Clairol Professional, Sassoon Professional, Nioxin, SP (System Professional), Koleston, Soft Color, Color Charm, Wellaton, Natural Instincts, Nice & Easy, VS Salonist, VS ProSeries Color, Londa/Kadus, Miss Clairol, L’image, Bellady, Blondor, Welloxon, Shockwaves, New Wave, Design, Silvikrin, Wellaflex, Forte, Wella Styling, Wella Trend, Balsam Color, Hugo Boss, Gucci, Lacoste, Bruno Banani, Escada, Gabriela Sabatini, James Bond 007, Mexx, Stella McCartney, Alexander McQueen, Max Factor and CoverGirl.

    In all, the brands involved in the divestiture to Coty had 2014 U.S. measured-media spending of about $300 million, according to Kantar (now Vivvix).

    Other deals and strategic moves:

    Coty said it made no acquisitions or divestitures in the years ended June 2023 and June 2022.

    Coty in January 2021 bought a 20% stake in Kim Kardashian West’s beauty business (KKW Holdings) for $200 million. Coty has overall responsibility for developing the brand’s skincare, haircare, personal care and nail products.

    Coty on Jan. 6, 2020, bought a 51% stake in celebrity Kylie Jenner’s beauty business (King Kylie, operating as Kylie Cosmetics and Kylie Skin) for $600 million. When Coty announced the deal in November 2019, Coty said the Kylie Jenner beauty business had trailing 12-month net revenue of about $177 million. For the fiscal year ended June 30, 2020, net revenue and net loss of King Kylie included in Coty’s consolidated statement were $52.0 million and $11.7 million, respectively.

    Coty in September 2019 sold its majority stake in Foundation, owner of Younique, an online peer-to-peer social selling platform in beauty. Coty in February 2017 had purchased a 60% stake for $600 million cash, net of acquired cash and debt assumed; Younique’s founders at that point kept 40%.

    Coty in October 2017 bought long-term exclusive global license rights for Burberry Beauty luxury fragrances, cosmetics and skin care for 191.7 million pounds ($256.3 million). Under the agreement, Coty will develop, manufacture and distribute a range of Burberry Beauty products globally. U.K.-based Burberry said Burberry Beauty had revenue of 203 million pounds ($306 million) in year ended March 2016.

    Coty in November 2016 bought GHD (“Good Hair Day”), a global premium brand in high-end hair styling appliances, from Lion Capital for about 430.2 million pounds ($531.5 million) in cash.

    Coty in June 2016 sold its international Cutex businesses, which primarily operated in Australia and the U.K., to Revlon for $29.2 million. The deal came after Revlon in October 2015 bought the U.S. Cutex business and related assets from Cutex Brands. Cutex is a line of nail products. With these moves, Revlon completed the global consolidation of the Cutex brand’s worldwide operations under Revlon management.

    Coty in February 2016 bought the personal care and beauty business of Brazil-based Hypermarcas for $901.9 million.

    Coty in October 2015 bought Beamly, a digital-marketing firm based in New York and London, for $17.9 million.

    Coty on April 1, 2015, bought the Bourjois cosmetics brand from Chanel, a luxury-goods marketer based in Paris, for $376.8 million in stock. Bourjois was founded in 1863.

    Coty in January 2014 bought Lena White, a U.K. distribution business, for about $11.0 million.

    Coty in July 2013 bought StarAsia Group, a regional distribution company in Southeast Asia, for $23.5 million.

    Coty in April 2012 announced an unsolicited offer to buy ailing beauty products marketer Avon Products for $10 billion; Coty had privately made takeover overtures to Avon in March 2012. Avon, with $11.3 billion in 2011 revenue, was more than two times the size of Coty, which had worldwide sales of $4.6 billion in the year ended June 2012.

    Coty in May 2012 raised its Avon offer to $10.7 billion. Later in May 2012, Coty dropped the bid.

    Coty made a series of acquisitions in 2010, acquiring OPI Products, a nail-polish marketer; Philosophy, a skin care and cosmetics company; Dr. Scheller Cosmetics, a German beauty company; and TJoy, a Chinese men’s and women’s skin care product marketer (majority stake).

    Coty acquired Del Laboratories in December 2007 for an undisclosed amount. In announcing the Del Labs acquisition, Coty said: “The acquisition … brings Coty closer to its quest of becoming a $5 billion beauty company.” Del Laboratories’ brands included Sally Hansen nail-care products, La Cross beauty implements, N.Y.C. New York Color cosmetics and Orajel oral analgesics.

    Coty in July 2008 sold Del Laboratories’ Del Pharmaceuticals over-the-counter products business, including Orajel, to Church & Dwight Co. for $383.4 million. Del Pharmaceuticals had 2007 revenue of about $100 million; more than three fourths of that revenue came from Orajel.

    Coty in 2005 purchased Unilever’s global prestige fragrance business, Unilever Cosmetics International. Calvin Klein fragrances, Vera Wang fragrances, Rimmel and Lagerfeld were among the brands that came in the deal. Coty and Karl Lagerfeld in October 2012 mutually agreed to end the fragrance license.

    Management and employees:

    Coty named Sue Nabi, a veteran beauty industry executive, as CEO effective Sept. 1, 2020.

    Stock:

    Coty went public in June 2013 at $17.50 a share.

    Ownership:

    JAB, an investment group based in the Netherlands (JAB Holdings; JAB Cosmetics; JAB Beauty, formerly known as Cottage Holdco) as of August 2023 owned about 53% of outstanding Class A shares.

    History:

    Coty:

    Coty was started in 1904 in Paris by Francois Coty.

    JAB, Coty’s largest shareholder, is a private venture holding the investments of the Johan A. Benckiser family.

    Johan A. Benckiser in 1823 founded what would evolve into household products marketer Reckitt.

    Drugmaker Pfizer bought Coty in 1963.

    In June 1992, the Benckiser family company (operating as Joh. A. Benckiser G.m.b.H.) bought Coty from Pfizer for gross proceeds of about $440 million. Coty had been Pfizer’s fragrance and cosmetics division.

    Two years prior to the 1992 Coty purchase, Benckiser had expanded into prestige fragrances when it bought Lancaster Group from SmithKline Beecham (now GSK).

    Joh. A. Benckiser in 1996 split its package goods holdings into two companies: Coty, the beauty products marketer; Benckiser (now Reckitt), a cleaning products marketer.

    https://www.coty.com

Deutsche Telekom (T-Mobile US)

  • Marketer profile
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    Overview:

    Deutsche Telekom is a global telecom company based in Germany.

    Its largest markets by revenue are the U.S. (through T-Mobile US) and Germany.

    Deutsche Telekom owns a majority stake in T-Mobile US, a U.S.-based provider of wireless phone services based in Bellevue, Washington. T-Mobile US operates under the T-Mobile and Metro by T-Mobile brands.

    T-Mobile US in March 2023 signed a deal to Ka'ena Corp., parent of wireless service Mint Mobile.

    Business segments and operations:

    T-Mobile US:

    T-Mobile US in April 2018 signed a deal to buy Sprint in a move to combine the No. 3 (T-Mobile) and No. 4 (Sprint) U.S. wireless firms.

    Before T-Mobile completed the Sprint acquisition, T-Mobile was majority owned by Deutsche Telekom while Sprint was majority owned by Japan's SoftBank Group Corp.

    As of March 31, 2023, Deutsche Telekom had voting control over about 54.0% of T-Mobile common stock, according to T-Mobile's proxy statement.

    Deutsche Telekom includes T-Mobile US as a fully consolidated subsidiary in the consolidated financial statements of Deutsche Telekom.

    Rankings:

    T-Mobile US:

    T-Mobile US in 2016 moved past Sprint to become No. 3 in the U.S. wireless market based on number of customers, behind AT&T and Verizon Communications' Verizon Wireless.

    Marketing spending:

    Worldwide:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is Ad Age's estimate of Deutsche Telekom worldwide marketing expenses.

    U.S.:

    T-Mobile US:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is stated "advertising expense" for T-Mobile US.

    Deals and strategic moves:

    T-Mobile US:

    Sprint Corp. acquisition:

    T-Mobile US bought Sprint Corp. on April 1, 2020, for total consideration of $40.8 billion.

    T-Mobile April 29, 2018, announced a deal to buy Sprint, controlled by Japan's SoftBank, in a move to combine the No. 3 (T-Mobile) and No. 4 (Sprint) U.S. wireless firms.

    To win regulatory approval, Sprint and T-Mobile agreed to sell Sprint's prepaid wireless business (operated under the Boost Mobile and Sprint prepaid brands) to Dish Network Corp. T-Mobile completed the $1.4 billion sale of that business to Dish on July 1, 2020.

    Mint:

    T-Mobile US in March 2023 signed a deal to Ka'ena Corp., parent of wireless service Mint Mobile, for a maximum purchase price of $1.35 billion to be paid out 39% in cash and 61% in shares of T-Mobile common stock.

    The purchase price was variable depending on performance of Ka'ena Corp.

    History:

    T-Mobile US:

    T-Mobile US's principal operating subsidiary, T-Mobile USA, was formed in 1994 as VoiceStream Wireless PCS, a subsidiary of Western Wireless Corp. VoiceStream was spun off from Western Wireless in May 1999, acquired by Deutsche Telekom on May 31, 2001, and renamed T-Mobile USA in July 2002.

    MetroPCS was established in 1996 as General Wireless. The company changed its name to MetroPCS Communications in 1998. MetroPCS Communications changed its name to T-Mobile US as part of the merger with T-Mobile USA on April 30, 2013. T-Mobile in October 2018 changed the name of MetroPCS to Metro by T-Mobile.

    T-Mobile US bought Sprint Corp. on April 1, 2020.

    https://www.telekom.com

Diageo

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Diageo is an alcohol marketer with a bevy of brands across spirits and beer.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is Diageo's stated worldwide marketing spending converted to dollars at average exchange rates by Ad Age Datacenter.

    Diageo reported worldwide marketing spending of 3.051 billion pounds ($3.674 billion) in the year ended June 2023 (fiscal 2023).

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is Ad Age Datacenter's estimate of U.S. marketing spending.

    Diageo disclosed the following North America (U.S. and Canada) marketing spending:

    Year ended June 2023 (fiscal 2023): 1.360 billion pounds ($1.638 billion); 20.1% of net sales

    Year ended June 2022 (fiscal 2022): 1.200 billion pounds ($1.598 billion); 19.7% of net sales

    Year ended June 2021 (fiscal 2021): 936 million pounds ($1.261 billion); 18.0% of net sales

    Year ended June 2020 (fiscal 2020): 727 million pounds ($916 million); 15.7% of net sales

    Year ended June 2019 (fiscal 2019): 762 million pounds ($986 million); 17.1% of net sales

    Year ended June 2018 (fiscal 2018): 662 million pounds ($892 million); 16.1% of net sales

    Year ended June 2017 (fiscal 2017): 642 million pounds ($815 million); 15.4% of net sales

    Year ended June 2016 (fiscal 2016): 541 million pounds ($803 million); 15.2% of net sales

    Year ended June 2015 (fiscal 2015): 542 million pounds ($854 million); 15.7% of net sales

    Year ended June 2014 (fiscal 2014): 540 million pounds ($878 million); 15.7% of net sales

    Year ended June 2013 (fiscal 2013): 581 million pounds (restated from 585 million pounds) ($912 million); 15.6% of net sales

    Year ended June 2012 (fiscal 2012): 548 million pounds ($869 million); 15.4% of net sales

    Year ended June 2011 (fiscal 2011): 508 million pounds ($808 million); 15.1% of net sales

    Year ended June 2010 (fiscal 2010): 472 million pounds ($741 million); 14.3% of net sales

    Year ended June 2009 (fiscal 2009): 431 million pounds ($690 million); 13.1% of net sales

    Year ended June 2008 (fiscal 2008): 369 million pounds (restated) ($740 million); 14.6% of net sales

    Deals and strategic moves:

    Diageo in May 2023 sold Guinness Cameroon, its brewery in Cameroon, to Castel Group.

    Diageo in March 2023 bought Don Papa Rum, a super-premium dark rum from the Philippines.

    The company in November 2022 acquired Balcones Distilling, a Texas craft distiller and marketer of American single malt whisky.

    The company in October 2022 sold Archers, a Peach schnapps brand, to De Kuyper Royal Distillers.

    Diageo in September 2022 bought Mr Black, an Australian premium cold brew coffee liqueur.

    Diageo in May 2022 sold Picon, a French flavored liqueur brand, to Italy-based Campari Group for 117 million euros ($123 million).

    Diageo in March 2022 bought 21Seeds, a brand of flavored tequila founded in 2019, for 62 million pounds cash ($81 million) and contingent consideration of up to 61 million pounds ($80 million) tied to performance targets.

    Diageo in January 2022 bought Mexico-based Casa UM, marketer of Mezcal Union, a brand of mezcal distilled alcoholic beverage launched in 2011.

    Diageo in April 2021 bought Sons of Liberty Spirits Co., marketer of Loyal 9 Cocktails, a U.S. spirits-based ready-to-drink brand launched in 2018.

    The company in March 2021 bought Far West Spirits, owner of Lone River Ranch Water, a hard seltzer that took inspiration from the popular classic Texan "Ranch Water" cocktail. Lone River Ranch Water launched in 2019.

    Diageo in February 2021 bought Chase Distillery, a U.K. marketer of vodka and gin founded in 2018.

    The company in September 2020 bought Aviation American Gin (Aviation Gin and Davos Brands). Aviation American Gin is a gin brand that had been majority owned by Davos Brands and celebrity co-owner Ryan Reynolds, who kept an ongoing ownership interest in Aviation American Gin after the sale. Price tag was up to $612 million, which included an initial payment of $337 million and a further potential payout up to $275 million based on the performance of Aviation American Gin over a 10-year period.

    Diageo in April 2020 sold United National Breweries, its sorghum beer business in South Africa, to Delta Corp. Diageo bought its initial 50% stake in that business in January 2013 and bought the remaining 50% in 2015.

    Diageo in August 2019 bought Seedlip, which it called "the world's first distilled non-alcoholic spirits brand." U.K.-based Seedlip launched in 2015.

    Diageo and Jiangsu Yanghe Distillery Co., a spirits marketer in China, in April 2019 announced a joint venture in China, Jiangsu Yanghe Diageo Spirit Co. In its announcement, Diageo said: "China is the world's largest total beverage alcohol market, delivering retail sales value of $178 billion per annum. The largest category is Baijiu, also known as Chinese white spirit." It said Yanghe was China's third-largest Baijiu distiller. The joint venture's first product was Zhong Shi Ji, a whisky that Diageo said was "specially crafted by master blenders and distillers from Scotland and China."

    Diageo in December 2018 sold 19 spirits brands to Sazerac Co., a Louisiana-based alcoholic beverage marketer, for $550 million. The deal included these brands: Seagram's VO, Seagram's 83, Seagram's Five Star, Myers's, Parrot Bay, Romana Sambuca, Popov, Yukon Jack, Goldschlager, Stirrings, The Club, Scoresby, Black Haus, Peligroso, Relska, Grind, Piehole, Booth's and John Begg. In a statement announcing the deal, Diageo CEO Ivan Menezes said: "The disposal of these brands enables us to have even greater focus on the faster growing premium and above brands in the U.S. spirits portfolio."

    Diageo on Aug. 15, 2017, bought Casamigos, a super-premium tequila brand in the U.S. The transaction valued Casamigos at $1 billion, with an initial payment of $700 million and the remaining $300 million contingent on performance over 10 years. Casamigos was created in 2013 by founders Rande Gerber, George Clooney and Mike Meldman.

    Diageo on Jan. 1, 2016, sold its major wine interests (U.S.-based Chateau and Estate Wines; U.K.-based Percy Fox) to Treasury Wine Estates for $552 million. Following this deal, Diageo's wine interests were limited to Justerini & Brooks Wine Merchants, the Argentinian wine business of Navarro Correas, the wine brands of Mey Icki and USL, the Chalone brand and assets and the Acacia winery and vineyard. In a statement, CEO Ivan Menezes said: "Diageo's strategy is to drive stronger, sustained performance through focus on our core portfolio and today's announcement is another element of that strategy in action. Wine is no longer core to Diageo and this sale gives us greater focus."

    Diageo in October 2015 sold its 57.87% interest in Desnoes & Geddes (Jamaican Red Stripe business) to Heineken(increasing Heineken's stake to 73.32%); sold its 49.99% stake in GAPL (Guinness Anchor Berhad) to Heineken (increasing Heineken's interest to 100%); and bought Heineken's 20% stake in Guinness Ghana Breweries (raising Diageo's stake to 72.42%). GAPL holds 51% of Guinness Anchor Berhad in Malaysia and is the licensee for Guinness and ABC Stout distribution in Singapore.

    Diageo in September 2015 said it intended to increase its equity stake in Guinness Nigeria up to a maximum of 70.0% from 54.3%.

    Diageo in July 2015 said it, Heineken and the Ohlthaver & List Group of Cos. (majority shareholder of Namibia Breweries Limited) had agreed to restructure their South African and Namibian joint ventures. After the transaction, Diageo will operate in South Africa and Namibia through wholly owned subsidiaries.

    Diageo in February 2015 bought the remaining 50% stake in Tequila Don Julio, an ultra-premium tequila brand that had been owned 50/50 by Diageo and Mexico's Jose Cuervo. That gave Diageo full ownership of the brand. In return, Diageo sold Bushmills, an Irish whisky brand, to Jose Cuervo. The transaction resulted in a net payment of $408 million to Diageo. This asset swap came after Diageo's decades-old deal to distribute Jose Cuervo-branded tequila in North America expired in June 2013; Diageo declined to pursue a new distribution agreement after it was unsuccessful in negotiations to buy Jose Cuervo, the world's top-selling tequila brand, from Mexico's Beckmann family. Proximo Spirits, also owned by the Beckmann family, took over North American distribution effective July 2013.

    Diageo in April 2014 globally launched Haig Club Single Grain Scotch Whisky in partnership with retired soccer star David Beckham and British entrepreneur Simon Fuller. Diageo said: "Working alongside Diageo, Beckham and Fuller will play a fundamental role in developing the brand, its strategy and positioning." The product builds on the brand name of Haig, a Scotch whisky owned by Diageo.

    Diageo in January 2014 bought Peligroso, a super-premium tequila brand; and DeLeon, an ultra-premium tequila brand that Diageo acquired through a new 50/50 joint venture with rap star Sean Combs.

    History:

    The company now known as Diageo was incorporated as Arthur Guinness Son and Co. in 1886.

    London-based Diageo was formed in 1997 following the merger of U.K. firms Grand Metropolitan and Guinness.

    Diageo (and predecessor Guinness) since 1994 has owned 34% of Moet Hennessy, the wine and spirits holding company of LVMH Moet Hennessy Louis Vuitton.

    Vivendi Universal (now Vivendi) in 2001 sold Seagram's wine and spirit businesses to Diageo and Pernod Ricard. (Vivendi Universal was formed in December 2000 through a three-way merger of Vivendi, Canal Plus S.A. and Seagram Co. Seagram was a spirits company that in 1985 had purchased MCA (Universal Studios and MCA Music Entertainment Group, now Universal Media Group).)

    Diageo in October 2001 sold Pillsbury, its packaged-foods business, to General Mills for $10.4 billion. Grand Metropolitan had purchased Pillsbury in 1989.

    Diageo in December 2002 sold Burger King, the fast-food chain that it had acquired in the Pillsbury acquisition, to buyout funds controlled by Texas Pacific Group, Bain Capital Partners and Goldman Sachs. Pillsbury had purchased Burger King in 1967.

    Burger King staged an initial public offering of stock in 2006. As of August 2010, Texas Pacific Group, Bain Capital and Goldman Sachs owned about 31% of Burger King Holdings. The hamburger chain in October 2010 was acquired by 3G Capital, a New York-based buyout firm, for $4.0 billion (including assumption of the company's outstanding debt), marking the second time in a decade that Burger King was taken out by private equity. Burger King in June 2012 again became a publicly traded company, still controlled by 3G. Miami-based Burger King Worldwide in December 2014 bought Canadian restaurant chain Tim Hortons; the merged company, based in Canada, took the name Restaurant Brands International.

    https://www.diageo.com

eBay

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    EBay is an internet company whose businesses include the eBay online marketplace.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Worldwide ad spending:

    Worldwide ad spending shown in the Ad Age World's Largest Advertisers report and related database is eBay's stated worldwide "advertising expense."

    In its 10-K filing for year ended December 2022, eBay disclosed 2022 worldwide advertising expense of $1.2 billion.

    EBay said in its 10-K for year ended December 2022:

    "We expense the costs of producing advertisements at the time production occurs and expense the cost of communicating advertisements in the period during which the advertising space or airtime is used, in each case as sales and marketing expense. Internet advertising expensesare recognized based on the terms of the individual agreements, which are generally over the greater of the ratio of the number of impressions delivered over the total number of contracted impressions, on a pay-per-click basis, or on a straight-line basis over the term of the contract."

    Deals and strategic moves:

    Certilogo:

    EBay in July 2023 bought Certilogo, an Italy-based provider of AI-powered digital IDs and authentication for apparel and fashion goods.

    EBay's acquisition announcement said: "Certilogo leverages digital technology to empower brands and designers to manage the lifecycle of their garments, while providing consumers a seamless way to engage with their favorite brands and fashion items, access reliable product information, confirm authenticity and easily activate circular services."

    TCGplayer:

    EBay in October 2022 bought TCGplayer, a Syracuse, New York-based marketplace for collectible card game enthusiasts, for $228 million.

    EBay South Korea businesses (sale):

    EBay in 2021 sold an 80% stake in its businesses in South Korea to E-mart, a South Korea-based retailer, for about $3.0 billion.

    Classifieds (sale):

    EBay in June 2021 sold its Classifieds business to Adevinta, a global online classifieds firm, for $2.5 billion in cash and a 44% equity stake in Adevinta. EBay in November 2021 sold about one-fourth of its Adevinta shares to Astinlux Finco (Permira), reducing eBay's stake to 33%. Norway-based Adevinta in 2019 spun off from another Norwegian firm, Schibsted.

    StubHub (sale):

    EBay in February 2020 sold StubHub, a U.S.-based ticket marketplace, to Switzerland-based Viagogo for $4.05 billion cash.

    EBay as of 2019 operated in 44 countries. Viagogo, founded in 2006, was a worldwide ticket marketplace for live sport, music and entertainment events that as of 2019 operated in Europe, Asia, Australia and Latin America.

    Eric Baker, Viagogo's founder and CEO, co-founded StubHub but left before the business was sold to eBay for $310 million in 2007.

    EBay Enterprise (sale):

    EBay in November 2015 sold eBay Enterprise for $925 million to an investor group consisting of Sterling Partners, Longview Asset Management and Innotrac Corp., a Sterling Partners portfolio company, in partnership with Permira Funds. EBay announced the deal in July 2015.

    EBay Enterprise formerly operated as GSI Commerce. EBay acquired GSI Commerce for about $2.4 billion on June 17, 2011, making GSI Commerce one of eBay's operating segments. In June 2013 eBay rebranded GSI Commerce as eBay Enterprise, and rebranded GSI Marketing Services as eBay Enterprise Marketing Solutions.

    PayPal Holdings:

    EBay completed the spinoff of financial services venture PayPal Holdings in July 2015. EBay in September 2014 had announced it would split eBay and PayPal into separate public companies in 2015.

    Other deals:

    EBay in 2018 bought Giosis' Japan business, including the Qoo10.jp platform, in exchange for $306 million in cash and the relinquishment of eBay's equity investment in Giosis.

    In its 10-K for year ended December 2017, eBay said: "Acquisition activity in 2017 was immaterial."

    EBay in 2016 completed six acquisitions--Cargigi, Expertmaker, SalesPredict, Ticketbis, Ticket Utils and Corrigon--for a total of $212 million.

    EBay said 2015 acquisition activity was immaterial.

    EBay in June 2015 sold its 28.4% stake in Craigslist, a network of local community sites, back to Craigslist. Under a confidential settlement agreement, eBay and Craigslist also ended long-standing litigation between the two firms. EBay bought the stake in Craigslist in 2004.

    EBay in 2014 completed three small acquisitions, all in its Marketplaces segment, for an aggregate purchase price of about $58 million.

    EBay in December 2013 bought Braintree, a global payment platform, for about $713 million.

    EBay made six other acquisitions in 2013, with four in its Marketplaces segment and two in its Payments segment, for a total price tag of about $164 million, mostly cash.

    EBay in 2012 completed three small acquisitions (two in its Marketplaces segment and one in its Payments segment) for a total price of $149 million, mainly cash.

    EBay in May 2012 sold Rent.com, an apartment rental site, for about $145 million to Primedia, a media company whose holdings include ApartmentGuide.com and Rentals.com.

    In addition to its GSI purchase, eBay in 2011 completed 12 other acquisitions including Where.com, a location-based media company with headquarters in Boston; Brands4friends, an online shopping club for fashion and lifestyle in Germany; a controlling stake in GittiGidiyor, an online marketplace in Turkey; and Zong, a provider of payment services through mobile carrier billing.

    EBay in December 2010 bought Milo, a local shopping engine based in Palo Alto, California.

    Other eBay acquisitions include Gmarket (2009); Fraud Sciences, Den Bla Avis and BilBasen, and Bill Me Later (2008); StubHub (2007; sold in 2020); Tradera.com (2006); Shopping.com (2005); and Rent.com (2005). (As noted, eBay sold Rent.com in 2012.)

    EBay used to own Skype, an internet phone service. EBay in October 2005 bought Skype for $2.6 billion in cash and stock plus potential performance-based payments of up to $1.3 billion. EBay in October 2007 took a $1.4 billion impairment write-down on the value of Skype. EBay sold Skype in November 2009 to an investor group led by private investment firm Silver Lake for $1.9 billion in cash, a note valued at $125 million and a 30% equity stake in Skype. (At the time of that sale, eBay said fair value of its 30% equity stake was about $620.0 million, implying Skype at the time had an equity valuation of about $2.067 billion.) Skype filed for an initial public offering in August 2010 but did not go through with that IPO. Microsoft Corp. in October 2011 bought Skype for $8.6 billion cash.

    History:

    EBay launched in September 1995 and went public in September 1998.

    https://www.ebayinc.com

EssilorLuxottica

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    EssilorLuxottica is a global marketer of eyeglass lenses, frames and sunglasses.

    The company was formed by the Oct. 1, 2018, merger of Essilor International and Luxottica Group. EssilorLuxottica is based in Charenton-le-Pont, France.

    Business segments and operations:

    EssilorLuxottica's operations include eyewear brands (including Ray-Ban and Oakley), lens brands (including Varilux and Transitions) and stores (including Sunglass Hut, LensCrafters and the GrandVision retail network). EssilorLuxottica also owns EyeMed Vision Care, one of the largest U.S. managed vision-care networks.

    Marketing spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Ad Age Datacenter estimates modeled on EssilorLuxottica's worldwide "advertising and marketing" expenses.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are EssilorLuxottica's worldwide "advertising and marketing" expenses converted to dollars at average exchange rates by Ad Age Datacenter.

    EssilorLuxottica reported the following worldwide "advertising and marketing" expenses:

    2022: 1.811 billion euros ($1.909 billion)2021: 1.652 billion euros ($1.955 billion) (pro forma including GrandVision)2020: 1.062 billion euros ($1.212 billion) (adjusted)2019: 1.236 billion euros ($1.384 billion) (adjusted)2018: 1.115 billion euros ($1.317 billion) (adjusted pro forma)2017: 1.123 billion euros ( $1.269 billion) (adjusted pro forma)

    Luxottica Group disclosed the following worldwide "advertising expenses":

    2018: 481.2 million euros ($568.5 million). 2017: 529.1 million euros ($597.7 million). 2016: 567.9 million euros ($628.7 million). 2015: 589.7 million euros ($655.0 million). 2014: 511.2 million euros ($679.5 million). 2013: 479.9 million euros ($637.4 million). 2012: 446.2 million euros ($573.8 million). 2011: 408.5 million euros ($569.0 million). 2010: 371.9 million euros ($493.8 million).

    Luxottica Group stated "advertising expenses" as a share of Luxottica Group stated "advertising and marketing" expenses" was 84.0% in 2017.

    Deals and strategic moves:

    Essilor International and Luxottica Group merger:

    EssilorLuxottica was formed by the Oct. 1, 2018, merger of Essilor International and Luxottica Group. EssilorLuxottica is France.

    Essilor was a global manufacturer and marketer of lenses based in France. It also sold non-prescription reading glasses and non-prescription sunglasses.

    Luxottica was an eyewear marketer and retailer based in Italy.

    Other deals and strategic moves:

    EssilorLuxottica in 2021 bought GrandVision, an optical retailer based in the Netherlands that had more than 7,200 stores in 40 countries when it was acquired.

    Luxottica in 2014 bought online retailer glasses.com from health insurer WellPoint (now Elevance Health).

    History:

    Essilor traces its history to the founding in 1849 of Association Fraternelle des Ouvriers Lunetiers (renamed Societe des Lunetiers and then Essel), an eyewear makers' cooperative. The company launched the world's first progressive lens in 1959 under the brand name Varilux.

    Essel merged in 1972 with Silor to form Essilor.

    Silor had been formed in 1969 by the merger of frame maker SIL (Societe Industrielle de Lunetterie) and lens maker LOR (Lentilles Ophtalmiques Rationnelle).

    Luxottica Group was founded in 1961.

    https://www.essilorluxottica.com

Estee Lauder Cos.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Estee Lauder Cos. is a New York-based marketer of skin care, makeup, fragrance and hair care products.

    Brands include Estee Lauder, Clinique, Origins, M.A.C, Bobbi Brown Cosmetics, La Mer, Aveda, Jo Malone London, Tom Ford, Too Faced, Dr.Jart+ and The Ordinary.

    Estee Lauder in April 2023 bought Tom Ford, a global luxury brand. The company already was global licensee for Tom Ford beauty products.

    Estee Lauder also is global licensee for the Aerin and Balmain brand names for fragrances and cosmetics.

    Estee Lauder markets products in about 150 countries and territories.

    The company’s biggest market is China. Net sales in mainland China, including net sales from travel retail locations, accounted for about 28% of worldwide net sales in fiscal 2023 (year ended June 2023).

    Sales and earnings:

    Largest customer:

    In its latest 10-K filing, Estee Lauder did not disclose net sales for its largest customer in fiscal 2023 (year ended June 2023).

    In an earlier 10-K filing, Estee Lauder said its largest customer in fiscal 2022 (year ended June 2022) “sells products primarily in China travel retail and accounted for 13% of our consolidated net sales for fiscal 2022, 14% for fiscal 2021 and 7% for fiscal 2020.” That customer accounted for 5% of net sales in fiscal 2019.

    Estee Lauder stopped disclosing the identity of its largest customer in its 10-K for fiscal 2018 (year ended June 2018).

    In earlier 10-K filings, the company said its largest customer was Macy’s (parent of Macy’s and Bloomingdale’s), accounting for 8% of net sales in fiscal 2017 (year ended June 2017); 9% in fiscal 2016; 10% in fiscal 2015 and 2014; 11% in fiscal 2013, 2012, 2011 and 2010; 12% in 2009; 12% in 2008; 14% in fiscal 2007; and 16% in fiscal 2006.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Ad Age Datacenter’s estimate of Estee Lauder’s U.S. net advertising, merchandising, sampling, promotion and product development expenses.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World’s Largest Advertisers report and related database are the company’s stated worldwide “net advertising, merchandising, sampling, promotion and product development expenses,” which are included in selling, general and administrative expenses.

    Net advertising, merchandising, sampling, promotion and product development expenses exclude the impact of purchase with purchase and gift with purchase promotions.

    In fiscal 2019 (year ended June 2019), as a result of the adoption of Accounting Standards Codification Topic 606, Estee Lauder classified the cost of certain promotional products, including samples and testers, within cost of sales.

    In addition to its stated advertising and promotion expenses, Estee Lauder spends heavily on cooperative advertising.

    The 10-K for year ended June 2023 said:

    Estee Lauder “enters into transactions and makes payments to certain of its customers related to demonstration, advertising and counter construction, some of which involve cooperative relationships with customers. These activities may be arranged either with unrelated third parties or in conjunction with the customer. To the extent the company receives a distinct good or service in exchange for consideration and the fair value of the benefit can be reasonably estimated, the company’s share of the counter depreciation and the other costs of these transactions (regardless of to whom they were paid) are reflected in Selling, general and administrative expenses.”

    Estee Lauder didn’t disclose the cost of those transactions and payments in its 10-Ks starting in year ended June 2019. In previous filings, the company reported those expenses as follows:

    Year ended June 2018: $1.491 billion (10.90% of net sales)

    Year ended June 2017: $1.405 billion (11.88%)

    Year ended June 2016: $1.387 billion (12.32%)

    Year ended June 2015: $1.378 billion (12.78%)

    Year ended June 2014: $1.410 billion (12.85%)

    Year ended June 2013: $1.412 billion (13.87%)

    Year ended June 2012: $1.343 billion (13.83%)

    Year ended June 2011: $1.152 billion (13.08%)

    Year ended June 2010: $1.070 billion (13.73%)

    Year ended June 2009: $1.074 billion (14.66%)

    Year ended June 2008: $1.098 billion (13.88%)

    Year ended June 2007: $978 million (13.90%)

    Year ended June 2006: $912 million (14.11%)

    Marketing strategy and execution:

    Most of the company’s creative marketing work is done by in-house creative teams. The creative staff designs and produces the sales materials, advertisements and packaging for products in each brand.

    Estee Lauder said this about marketing in its 10-K for year ended June 2023:

    “Our strategy to market and promote our products begins with our well-diversified portfolio of distinctive brands across four product categories. Our portfolio can be deployed in multiple distribution channels, key travel corridors and geographies where our global reputation and awareness of our brands benefit us. Our geographic and distribution channel diversity allows us to engage local consumers across an array of developed and emerging markets by emphasizing products and services with local relevance, inclusiveness and appeal. This strategy is built around ‘Bringing the Best to Everyone We Touch.’ Our founder, Mrs. Estee Lauder, formulated this unique marketing philosophy to provide ‘High-Touch’ service and high-quality products as the foundation for a solid and loyal consumer base. Our ‘High-Touch’ approach is demonstrated through our integrated consumer engagement models that leverage our product specialists and technology to provide the consumer with a distinct and truly personalized experience that can include personal consultations with beauty advisors, in person or online, who demonstrate and educate the consumer on product usage and application. As our business has grown and channel mix has evolved, we have further expanded our marketing philosophy and ‘High-Touch’ execution to build both online and offline personalized consumer experiences through digital and physical demonstration, targeted digital media and tailored trial-to-loyalty pathways. We plan to continue to leverage our core strengths, including the quality of our products, our ‘High-Touch’ consumer engagement and a diversified portfolio of brands, channels and geographies.

    “Our marketing strategies vary by brand, local market and distribution channel. We have a diverse portfolio of brands, and we employ different engagement models suited to each brand’s equity, distribution, product focus, understanding of the core consumer and local relevance. This enables us to elevate the consumer experience as we attract new consumers, create trial, build loyalty, drive consumer advocacy and address the transformation of consumer shopping behaviors. Hero products are at the core of our brand marketing strategies. They are the pillars of our brands and historically have provided strong results through high repeat sales and consumer loyalty. In addition to continuing to attract existing consumers, our hero products provide an opportunity for new consumers to be introduced to our desirable products, creating consumer traffic across all channels of distribution. We aim to further strengthen our hero products through continuous review of our product portfolio and strategic innovation. Our marketing planning approach leverages local insights to optimize allocation of resources across different media outlets and retail touch points to resonate with our most discerning consumers most effectively. This includes strategically deploying our brands and tailoring product assortments and communications to fit local tastes and preferences in cities and neighborhoods. Most of our creative marketing work is done by in-house teams, in collaboration with external resources, that design and produce the sales materials, social media strategies, advertisements and packaging for products in each brand. For a number of products, we create and deploy 360 [degree] integrated consumer engagement programs. We build brand equity and drive traffic to retail locations and to our own and authorized retailers’ websites through digital and social media, magazines and newspapers, television, billboards in cities and airports, and direct mail and email. In addition, we seek editorial coverage for our brands and products in digital and social media and print, to drive influencer amplification.

    “We are increasing our brand awareness and sales through our strategic emphasis on technology, by continuing to elevate our digital presence encompassing ecommerce and m-commerce, as well as digital, social media and influencer marketing. We are investing in new analytical capabilities to promote a more personalized experience across our distribution channels. We continue to innovate to better meet consumer online shopping preferences (e.g., how-to videos, ratings and reviews and mobile phone and tablet applications), support e-commerce and m-commerce businesses via digital and social marketing activities designed to build brand equity and “High-Touch” consumer engagement, in order to continue to offer better experiences and services and set the standard for prestige beauty shopping online. We also support our authorized retailers to strengthen their e-commerce businesses and drive sales of our brands on their websites. We have opportunities to expand our brand portfolio online around the world, and we continue to invest in new omnichannel concepts in the United States, China and other markets to increase brand loyalty by better serving consumers as they shop across channels and travel corridors. We have dedicated resources to implement creative, coordinated, brand-enhancing strategies across all online activities to increase our direct access to consumers.

    “Promotional activities, in-store displays, and online navigation are designed to attract new consumers, build demand and loyalty and introduce existing consumers to other product offerings from the respective brands. Our marketing efforts also benefit from cooperative advertising programs with some retailers, some of which are supported by coordinated promotions, such as sampling programs, including purchase with purchase and gift with purchase. Sampling is a key promotional activity as the quality and perceived benefits of sample products are very effective inducements to purchases by new and existing consumers. Such activities attract consumers and keep existing consumers engaged. Our marketing and sales executives spend considerable time in the field meeting with consumers, retailers, beauty advisors and makeup artists at the points of sale to enable us to offer a seamless experience across channels of distribution.

    “As consumer behaviors, digital-first consumer journeys and e-commerce evolve, we adjust our direct-to-consumer business models and consumer engagement programs. These models and programs are designed to provide distinct one-to-one and one-to-many ‘High-Touch’ omnichannel services and personalized  experiences by leveraging technology and our talented beauty advisors, consultants, and makeup artists.”

    Deals and strategic moves:

    Estee Lauder in April 2023 bought Tom Ford, a global luxury brand, for a total cost of about $2.6 billion. Tom Ford, founder and CEO of Tom Ford International, continued as the brand’s creative visionary through the end of calendar 2023. Lauder already had a license for Tom Ford Beauty (fragrance, makeup, skin care). In conjunction with the acquisition, eyewear marketer Marcolin extended its license for Tom Ford eyewear. Fashion marketer Zegna Group, which already had a license for Tom Ford menswear, expanded its apparel license to include all men’s and women’s fashion as well as accessories and underwear.

    Estee Lauder exited global distribution of Becca Cosmetics products in the fiscal year ended June 2022. The company in November 2016 bought Becca, a makeup brand launched in 2001, for an undisclosed price.

    Estee Lauder in May 2021 increased its stake in Deciem, a Toronto-based skin care company, to about 76% from about 29%. The company paid about U.S. $1.1 billion in cash for that additional stake. The company agreed to buy the rest after a three-year period. Estee Lauder in June 2017 bought a minority stake in investment in Deciem, which was founded in 2013 in Toronto. Deciem marketed a range of products across price points through its own multi-brand stores, department stores, e-commerce, TV shopping networks and select retailers, primarily in the U.S., U.K. and Canada. Deciem’s brands included Deciem, The Ordinary and Niod. Estee Lauder said Deciem had net sales for the 12 months ended Jan. 31, 2021, of about U.S. $460 million.

    Estee Lauder in December 2019 bought the remaining two-thirds equity stake in Have&Be Co., a South Korea-based, global skin care company behind Dr. Jart+ and men’s grooming brand Do The Right Thing, for $1.268 billion in cash. Estee Lauder had originally acquired a minority interest in Have & Be in December 2015. Have & Be was founded in 2005.

    The company on Dec. 19, 2016, bought Too Faced, a makeup brand, for $1.476 billion. Estee Lauder said Too Faced net sales were expected to reach more than $270 million in 2016. The company booked Too Faced net sales of $165 million from date of acquisition through June 30, 2017. Too Faced launched in 1998.

    Estee Lauder in February 2016 bought By Kilian, a Paris-based prestige fragrance founded in 2007 by Kilian Hennessy. Price tag wasn’t disclosed.

    The company in January 2015 bought Glamglow, a “Hollywood skin care brand focused on fast-acting treatment masks designed to deliver stunning, camera-ready results.” Glamglow was founded in 2010. Price tag wasn’t disclosed.

    Also in January 2015, the company bought Editions de Parfums Frederic Malle, a French fragrance brand launch in 2000. Terms weren’t disclosed.

    Estee Lauder in November 2014 bought Le Labo, a high-end fragrance launched in 2006, for an undisclosed price.

    The company in October 2014 acquired Rodin Olio Lusso, a New York-based luxury skin care brand founded in 2007. Terms weren’t disclosed.

    The company in October 2012 launched Osiao, a brand Lauder said it “developed for the unique needs of Asian skin.” The brand debuted that month in Hong Kong.

    The company bought Smashbox Beauty Cosmetics on July 1, 2010, for about $250 million. Estee Lauder said Smashbox is a “photo studio inspired prestige cosmetics company based in Los Angeles. Smashbox sells its products principally in the United States through specialty stores and the Internet, as well as internationally through distributors and select retailers.”

    The company ended global distribution of its Prescriptives brand in the quarter ended March 31, 2010.

    Lauder in July 2008 launched Eyes by Design, a makeup brand for the eyes that it developed for home-shopping channel HSN and HSN.com.

    Lauder in June 2007 terminated the Gloss.com joint venture in which it had owned a majority stake. The beauty e-commerce site shut down July 1, 2007.

    Lauder in 2007 bought Ojon Corp., a Canadian company that Lauder said marketed “naturally derived, wildcrafted hair and skin care beauty products using ingredients found in the world’s rainforests.”

    History:

    Estee Lauder Cos. was founded in 1946 by Estee and Joseph Lauder.

    https://www.elcompanies.com

Expedia Group

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Expedia Group is a global online travel company based in Seattle.

    Business segments and operations:

    Expedia discussed its brand portfolio in its 10-K filing for year ended December 2022:

    "We have the following reportable segments: Retail, B2B, and trivago.

    "Our Retail segment provides a full range of travel and advertising services to our worldwide customers through a variety of consumer brands including: Expedia.com and Hotels.com in the United States and localized Expedia and Hotels.com websites throughout the world, Vrbo, Orbitz, Travelocity, Wotif Group, ebookers, CheapTickets, Hotwire.com, and CarRentals.com.

    "Our B2B segment is comprised of Expedia Partner Solutions, which offers private label and co-branded products to make travel services available to travelers through third-party company branded websites, and, through its sale in November 2021, Egencia, a full-service travel management company that provided travel services to businesses and their corporatecustomers.

    "Our trivago segment generates advertising revenue primarily from sending referrals to online travel companies and travel service providers from its hotel metasearch websites."

    The company discussed its marketing and business strategy in its 10-K for year ended December 2022:

    "Over 25 years ago, we began operations as one of the first online travel agencies (OTAs) and played a significant role in revolutionizing and democratizing travel, by empowering customers to manage their own travel plans. We did so by building and then leveraging proprietary technology to connect partners and their respective inventory to those travelers, while unlocking the marketplace for travel to other businesses as well.

    "Since then, the travel industry has experienced significant transformation, including the material shift from offline to online travel booking. This transformation led to many years of exciting growth for OTAs along with increased competition.

    "In order to remain innovative and competitive, we made several strategic acquisitions, which materially expanded the breadth and depth of our company. Much of our strategy leading up to the COVID-19 pandemic focused on our brands competing aggressively for share all the around the world, each with their own offerings and benefits. However, it also created certain complexities and inefficiencies over time.

    "To reduce complexity and improve operations, in 2020, we shifted to a platform operating model, which enabled us to deliver more scalable services and operate much more efficiently.

    "For example, we now manage our marketing investments holistically across the entire brand portfolio, allowing us to optimize our spend to achieve better returns, and run on a unified marketing technology platform, improving our performance by scaling our marketing capabilities.

    "We also shifted to a unified brand strategy within our Retail business where we have a combined team making decisions across all our brands. These changes were made in an effort to simplify and streamline our organization, improve our cost structure, and the operation of our business.

    "Moreover, to streamline activities and enhance focus on our core businesses, we shut down or sold a number of businesses since the beginning of 2020, including Egencia, a travel management company focused on corporate travel....

    "In 2021, we began evolving our consumer retail strategy from being largely transactionally focused, where we were primarily focused on acquiring customers through performance marketing channels to building direct, longer-lasting relationships with our customers.

    "With that goal in mind, we focused towards increasing customer loyalty and app adoption as loyalty members and app users typically experience higher repeat rates, gross profits and bookings relative to non-loyalty members and non-app users.

    "Further, we aim to provide our customers with a high-quality product experience, strong membership benefits and broad multi-product supply offering, all of which encourages higher conversion, repeat rates and engagement."

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is estimated by Ad Age Datacenter.

    Expedia made its 100 LNA debut in Ad Age's June 2012 ranking of the 100 Leading National Advertisers (based on estimated 2011 U.S. ad spending).

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is Expedia Group's stated "advertising expense."

    Stated advertising expense consists of offline costs, including TV and radio advertising, and online advertising. Advertising expense includes media and production costs.

    History:

    1996: Microsoft Corp.'s Travel Technology Group launched Expedia.com in October 1996.

    1999: Microsoft staged initial public offering for Expedia Inc. under ticker EXPE.

    1999: IAC/InterActiveCorp (then known as USA Networks Inc.) bought Hotel Reservations Network (later renamed Hotels.com).

    2000: IAC staged initial public offering for Hotels.com; IAC kept a stake.

    2002: IAC bought controlling interest in Expedia Inc. (including Expedia.com).

    2003: IAC bought all of Hotels.com.

    2003: IAC bought all of Expedia.

    2003: IAC bought anyway.com.

    2003: IAC bought Hotwire.

    2004: IAC bought Tripadvisor, an online travel-information media company.

    2004: IAC bought minority stake in eLong, a travel booking site in China.

    2005: IAC bought majority control of eLong.

    2005: IAC spun off its travel-related businesses as Expedia Inc., a public company listed on Nasdaq.

    2011: Expedia spun off Tripadvisor as a standalone, Nasdaq-listed online media company.

    2012: Expedia acquired Via Travel, a travel-management company in the Nordics.

    2013: Expedia bought a 63% stake in Trivago, a hotel metasearch company based in Germany, for 477 million euros ($634 million).

    2014: Expedia bought Auto Escape Group, an online car-rental reservation company in Europe.

    2014: Expedia purchased Wotif.com Holdings (Wotif Group), an Australia-based online travel company.

    2015: Expedia acquired online travel venture Travelocity, building on a long-term strategic marketing agreement announced in 2013.

    2015: Expedia sold its majority stake in eLong.

    2015: Expedia acquired Orbitz Worldwide, a U.S.-based online travel company.

    2015: Expedia bought HomeAway, a U.S.-based operator of vacation-rental sites.

    2017: Expedia bought a majority stake in SilverRail Technologies, a distributor of rail tickets for various global rail providers and carriers.

    2018: Expedia Inc. in March 2018 changed its corporate name to Expedia Group Inc.

    2019: Expedia Group in July 2019 bought Liberty Expedia Holdings, whose principal assets were e-commerce venture Vitalize LLC (formerly Bodybuilding.com LLC) and a stake in Expedia Group.

    2020: Expedia Group in May 2020 sold Bodybuilding.com, an e-commerce business.

    2020: Expedia sold SilverRail Technologies, a distributor of rail tickets.

    2021: Expedia sold Classic Vacations, a luxury travel specialist. The company also sold one of its smaller businesses within its retail segment.

    2021: Expedia sold Egencia, a corporate travel management company, to American Express Global Business Travel (Global Business Travel Group).

    https://www.expediagroup.com

Flutter Entertainment

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Flutter Entertainment is a global sports betting, gaming and entertainment company based in Dublin.

    Business segments and operations:

    Flutter’s brands and operations include FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, tombola, Betfair, TVG, Junglee Games and Adjarabet.

    Flutter’s U.S. segment includes FanDuel, TVG and PokerStars. The U.S. operation has a range of offerings including online and retail sportsbooks, online gaming, poker, advanced deposit wagering on horse racing and TV broadcasting.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are the company’s stated U.S. “sales and marketing” costs converted to U.S. dollars by Ad Age Datacenter at average exchange rates.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World’s Largest Advertisers report and related database are the company’s stated “sales and marketing” costs converted to U.S. dollars by Ad Age Datacenter at average exchange rates.

    Deals and strategic moves:

    FanDuel Group:

    Flutter in December 2020 increased its ownership in FanDuel Group to 95% from 57.8%.

    The company in 2018 had combined its U.S. business with FanDuel Ltd., creating FanDuel Group, in which Flutter held a majority stake.

    (FanDuel and U.S. rival DraftKings in November 2016 announced plans to merge. The companies aborted the planned merger in July 2017 after U.S. federal regulators sued to block the deal.)

    Stars Group:

    Flutter in May 2020 bought The Stars Group, a Toronto-based online and mobile gaming and interactive entertainment company.

    Stars Group’s products included real- and play-money poker, gaming and betting product offerings under brands including PokerStars, PokerStars Casino, BetStars, Full Tilt, Fox Bet, BetEasy, Sky Bet, Sky Vegas, Sky Casino, Sky Bingo, Sky Poker and Oddschecker; live poker tour and events brands including the PokerStars Players No Limit Hold’em Championship, European Poker Tour and Asia Pacific Poker Tour.

    Fox Corp. agreement:

    Flutter closed Fox Bet in August 2023. Fox Corp. has the right for future use of the Fox and Fox Bet brands including Fox Bet Super 6.

    Stars Group and Fox Sports, a unit of Fox Corp., in May 2019 announced plans to launch Fox Bet as part of a U.S. national media and sports wagering partnership under a commercial agreement of up to 25 years. Under the deal, Fox Sports received certain brand license, integration and affiliate fees. In addition, during the term of the commercial agreement, Stars Group agreed to a minimum annual advertising commitment on certain Fox media assets. Prior to the 10th anniversary of the commercial agreement, Fox Sports had the right to acquire up to a 50% equity stake in Stars Group’s U.S. business.

    Fox Corp.’s 10-K filing for fiscal 2023 (year ended June 2023) said:

    “The company holds an equity interest in Flutter, an online sports betting and gaming company with operations in the U.S. and internationally. The company owns approximately 4.3 million ordinary shares, which represents approximately 2.5% of Flutter as of June 30, 2023. In addition, subject to certain conditions and applicable gaming regulatory approvals, Fox Sports holds a 10-year call option expiring in December 2030 to acquire an 18.6% equity interest in Flutter’s majority-owned subsidiary, FanDuel Group. The FanDuel option was the subject of arbitration proceedings, which concluded during fiscal 2023 and determined the price payable of $3.7 billion plus an annual escalator of 5%. As of June 30, 2023, the option price is approximately $4 billion. Fox has no obligation to commit capital towards this opportunity unless and until it exercises the option. In addition, Flutter cannot pursue an initial public offering for FanDuel without Fox’s consent or approval from the arbitrator.”

    Flutter’s interim disclosure for the six months ended June 2023 said: “As of 30 June 2023 the option price is $4.2 [billion] made up of the $3.7 [billion] exercise price for 18.6% of FanDuel plus the 5% annual carrying value adjustment.”

    Betfair Group:

    Paddy Power plc and Betfair Group plc merged in February 2016. The merger was accounted for as an acquisition of Betfair Group by Paddy Power. Paddy Power plc changed its name to Paddy Power Betfair plc following the merger.

    Stock:

    The company began trading on the Irish Stock Exchange and the London Stock Exchange on Dec. 7, 2000, under the name Power Leisure plc. 

    History:

    Paddy Power Betfair plc changed its name to Flutter Entertainment plc in 2019.

    Paddy Power plc changed its name to Paddy Power Betfair plc following the merger of Paddy Power plc and Betfair Group plc in February 2016.

    Power Leisure plc, which operated Paddy Power Bookmakers, in 2002 changed its name to Paddy Power plc.

    Power Leisure plc expanded beyond licensed betting offices and telephone betting operations with the June 2000 launch of an internet-based service, paddypower.com.

    https://www.flutter.com

Ford Motor Co.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Ford Motor Co. is a global automaker based in Dearborn, Michigan.

    Rankings:

    Ford in 2022 was the No. 3 auto marketer in the U.S., behind General Motors Co. and Toyota Motor Corp.

    The company's Ford brand was the No. 2 nameplate in the U.S. in 2022, behind the Toyota brand.

    The Ford brand became the top-selling nameplate in the U.S. in 2010 and kept that position each year through 2020. Toyota became the top-selling brand starting in 2021.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Ford's stated worldwide advertising costs. Deals and strategic moves:

    Ford, focusing on its core lines, has dramatically reduced its global auto-brand holdings.

    Ford ended production of Mercury vehicles in fourth-quarter 2010, allowing the company to focus on the Ford and Lincoln brands. Ford introduced Mercury in 1939 as its mid-priced brand, between Ford and Lincoln, but Mercury's sales, and relevance to the company, had faded before Ford pulled the plug.

    Ford on Aug. 2, 2010, sold Volvo Car Corp. (commonly referred to as Volvo Cars) to Zhejiang Geely Holding Group Co., a Chinese automaker, for $1.8 billion. Ford bought Volvo on March 31, 1999, for $6.45 billion.

    Ford previously owned a stake in Japan's Mazda Motor Corp. Mazda's financial statements for year ended March 2016 said:

    "Mazda formed a global partnership with the Ford Motor Company in 1979, and since then both companies have further developed and strengthened their cooperative relationship. An agreement was concluded in 1996 to further bolster that relationship with an increase in Ford's equity in Mazda's total shares outstanding to 33.4%. As a consequence of subsequent gradual sales by Ford of its stake in Mazda, Ford no longer has a stake in Mazda currently. However, the two companies have agreed to continue their strategic partnership and will continue to collaborate on areas of mutual benefit, such as key joint ventures."

    Ford owned a 2.1% stake in Mazda as of March 31, 2015; 2.1% as of Sept. 30, 2014; 2.1% as of March 31, 2014; 2.1% as of March 31, 2013; 2.1% as of March 31, 2012; and 3.5% as of March 31, 2011.

    Ford on Nov. 19, 2010, reduced its stake in Mazda to 3.5% from 11%. In a statement, Ford said: "The decision to reduce its ownership stake in Mazda allows [Ford] to increase flexibility as it continues to pursue growth in key emerging markets. . . . [Ford] plans to remain one of Mazda's largest shareholders and remains committed to its strategic partnership with Mazda, which spans more than 30 years. Ford and Mazda will continue to cooperate in areas of mutual benefits such as key joint ventures and exchange of technology information."

    Amid the 2008 global financial crisis, Ford in fourth-quarter 2008 sold a portion of its equity in Mazda, reducing its stake to 11% from 33.4%.

    Ford had been Mazda's largest shareholder since 1979, when Ford acquired a 25% stake in Mazda. With the November 2010 sale, Ford no longer was Mazda's largest shareholder.

    (Japan's Toyota Motor Corp. in 2017 announced an alliance with Mazda. Under the agreement, Mazda gave Toyota shares in Mazda valued at about $450 million, giving Toyota a 5.05% stake in Mazda. Toyota in turn gave Mazda shares in Toyota equivalent in value to those Mazda shares, resulting in Mazda getting a 0.25% stake in Toyota.)

    Ford has sold off other brands. The company on June 2, 2008, completed the sale of British luxury brands Jaguar and Land Rover to India's Tata Motors. Tata paid $2.4 billion in cash. Ford contributed about $600 million to Jaguar and Land Rover pension plans. So Ford received net cash of about $1.8 billion.

    Ford bought Jaguar for $2.5 billion in December 1989. The automaker bought Land Rover from BMW for $2.6 billion in June 2000.

    Ford in May 2007 sold Aston Martin, a low-volume luxury car brand.

    https://www.corporate.ford.com

General Motors Co.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    General Motors Co. is a global automaker based in Detroit.

    GM ranked No. 1 in U.S. vehicle sales in 2022, taking the top spot back from Toyota Motor Corp.

    Toyota took the crown in 2021, displacing GM in the top spot. GM had been the top seller in the U.S. every year since 1931, when GM passed Ford Motor Co.

    GM markets autos and trucks under these key brands: Buick, Cadillac, Chevrolet and GMC.

    GM has equity stakes in companies, primarily in China, that develop, manufacture and/or market vehicles under the Baojun, Buick, Cadillac, Chevrolet and Wuling brands.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide ad spending shown in the Ad Age World's Largest Advertisers report and related database is stated "advertising and promotion" spending.

    U.S. ad spending:

    Total U.S. ad spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of U.S. advertising and promotion spending.

    Deals and strategic moves:

    Cruise:

    Microsoft Corp. in January 2021 made an equity investment in Cruise, GM's autonomous vehicle technology venture. At the same time, Cruise and GM said they had entered "a long-term strategic relationship with Microsoft to accelerate the commercialization of self-driving vehicles. The companies will bring together their software and hardware engineering excellence, cloud computing capabilities, manufacturing know-how and partner ecosystem to transform transportation to create a safer, cleaner and more accessible world for everyone."

    Microsoft joined Honda Motor Co. as a Cruise investor. Honda in October 2018 made an equity investment in Cruise.

    SoftBank Vision Fund, part of Japan's SoftBank Group Corp., in May 2018 agreed to invest in Cruise.

    GM in 2016 bought Cruise Automation, a company founded in 2013, in a deal valued at $581 million.

    Holden:

    GM in February 2020 decided to wind down sales, design and engineering operations in Australia and New Zealand and discontinue the Holden brand (an Australian brand owned by GM since 1931) in 2021.

    Opel/Vauxhall:

    GM July 31, 2017, sold Opel/Vauxhall, its European unit, to PSA Group. GM Oct. 31, 2017, sold GM Financial's European operations to PSA and French bank BNP Paribas. GM valued the sale at $2.5 billion, consisting of $2.2 billion in cash and $808 million in warrants in PSA, partially offset by a $455 million payment made to PSA for assuming some underfunded pension liabilities.

    PSA was an automaker based in Paris that marketed vehicles under the Peugeot, Citroen and DS brands. PSA and Fiat Chrysler Automobiles merged in January 2021 to form Stellantis.

    GM in March 2012 had entered a global strategic alliance with PSA. The alliance was to include sharing of vehicle platforms, components and modules; and creation of a global purchasing joint venture for the sourcing of commodities, components and other goods and services from suppliers. The automakers said: "Each company will continue to market and sell its vehicles independently and on a competitive basis." As part of the agreement, GM bought a 7% stake in PSA Peugeot Citroen, making GM the second-largest shareholder behind the Peugeot family group.

    GM in December 2013 sold its 7% stake in PSA Peugeot Citroen for $339 million through a private placement to institutional investors. Steve Girsky, then GM's vice chairman, said in a statement: "The alliance remains strong with our focus on joint vehicle programs, cross manufacturing, purchasing, and logistics. We're making good progress while remaining open to new opportunities."

    Isuzu Motors:

    GM in June 2015 announced a deal in which GM will market medium-duty work trucks built by Japan's Isuzu Motors and branded as Chevrolet. GM used to build medium-duty Chevrolet and GMC trucks but exited that market during the 2007-2009 Great Recession.

    Fiat Chrysler Automobiles:

    FCA's CEO, Sergio Marchionne, in 2015 sent an email to GM to propose a tie-up of the two automakers. FCA was the parent of FCA US (formerly Chrysler Group). GM CEO Mary Barra in June 2015 said GM was not interested in a merger. (Marchionne died in July 2018, shortly after he stepped down as CEO.)

    As noted, FCA and PSA merged in January 2021 to form Stellantis.

    Other deals and strategic moves:

    GM in January 2011 changed the name of its South Korea unit, GM Daewoo, to GM Korea. Also in 2011, GM dropped the Daewoo brand in South Korea and began selling cars in that market as Chevrolets. GM as of 2014 owned 77.0% of GM Korea.

    Bankruptcy reorganization:

    Stung by the recession-fueled decline in auto industry sales, struggling with shrinking market share and overloaded with debt, century-old General Motors Corp. filed for Chapter 11 bankruptcy reorganization on June 1, 2009. The new GM, under the name General Motors Co., emerged from a speedy bankruptcy on July 10, 2009.

    General Motors Co. emerged from bankruptcy with four core U.S. brands: Chevrolet, Cadillac, Buick and GMC.

    Stock:

    Initial public offering:

    GM filed for an initial public offering of stock on Aug. 18, 2010, setting the stage for an IPO that would allow the U.S. government to start reducing its GM holding.

    GM went public on Nov. 17, 2010, at $33 a share. GM CEO Dan Akerson rang the opening bell at the New York Stock Exchange on Nov. 18, 2010, the first day of trading.

    GM broke the record at that time for the world's largest IPO in history, with a stock sale valued at $23.1 billion (including $5 billion of preferred shares). Excluding the preferred shares, the IPO at that time ranked as the second-largest U.S. IPO on record, after Visa's 2008 IPO. The automaker reclaimed its signature New York Stock Exchange ticker symbol (GM).

    https://www.gm.com

Haleon

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Haleon is a consumer health care products marketer based in the U.K.

    Haleon formerly operated as the Consumer Healthcare segment of GSK, a prescription drug and consumer health care products marketer based in the U.K.

    GSK in July 2022 spun off its consumer health care products unit as a separate public company, Haleon.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of Haleon's advertising and promotion spending.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is Haleon's stated "advertising and promotion" spending converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    Haleon made its debut in the Ad Age World's Largest Advertisers ranking in the December 2022 report.

    Haleon's stated worldwide "advertising and promotion" spending:

    2022: 2.026 billion pounds ($2.507 billion) (18.7% of revenue).

    Deals and strategic moves:

    Formation of Haleon (2022):

    GSK in July 2022 spun off its Consumer Healthcare unit as a separate public company, Haleon.

    GSK and Pfizer on July 31, 2019, merged their consumer health care businesses into a new consumer health care joint venture that operated globally under the GSK Consumer Healthcare name. Pfizer owned a 32% stake; GSK owned 68%.

    Pfizer plans to sell its 32% stake in Haleon. Pfizer in June 2022 said: "The company intends to exit its 32% ownership interest in Haleon in a disciplined manner, with the objective of maximizing value for Pfizer shareholders." Pfizer in March 2023 said: "There is no change in our intention to approach monetization of our Haleon stake in a disciplined manner with a focus on maximizing shareholder value."

    The GSK/Pfizer joint venture brought together consumer health brands including GSK's Sensodyne, Voltaren and Panadol and Pfizer's Advil, Centrum and Caltrate.

    GSK said the 2019 transaction with Pfizer laid the foundation for separation of GSK into two U.K.-based global companies, one focused on pharmaceuticals/vaccines and the other on consumer healthcare.

    GSK said in December 2018: "Within three years of the closing of the transaction, GSK intends to separate the Joint Venture via a demerger of its equity interest and a listing of GSK Consumer Healthcare on the U.K. equity market."

    Pfizer in October 2017 had said it was reviewing strategic alternatives for its consumer health care business. In announcing the strategic review, Pfizer said: "A range of options will be considered, including a full or partial separation of the Consumer Healthcare business from Pfizer through a spin-off, sale or other transaction, and Pfizer may ultimately determine to retain the business."

    This marked Pfizer's second exit from consumer health care. The company in 2006 sold its consumer health care business to Johnson & Johnson in 2006. Pfizer reentered the consumer business in 2009 with its acquisition of pharma and consumer health care marketer Wyeth.

    Other deals and strategic moves:

    Lamisil (sale):

    Haleon in August 2023 agreed to sell Lamisil, an over-the-counter treatment for fungal skin infections, to Sweden-based Karo Healthcare for 235 million pounds (about $300 million). The deal was expected to be completed in fourth-quarter 2023.

    Historic deals and and strategic moves:

    Unilever's GSK Consumer Healthcare takeover proposal:

    GSK in January 2022 said it had received three "unsolicited, conditional and non-binding proposals" from Unilever to buy the GSK Consumer Healthcare business.

    GSK said the latest proposal, on Dec. 20, 2021, had a total acquisition value of 50 billion pounds ($66 billion) in cash and Unilever stock. GSK said it rejected all three proposals because "they fundamentally undervalued the Consumer Healthcare business and its future prospects." Unilever in January 2022 said it would not increase its offer.

    GSK's Novartis deals (2015-2018):

    GSK and Swiss drug marketer Novartis in March 2015 completed a three-part transaction involving consumer products, vaccines and oncology products. The companies announced the deal in April 2014.

    As part of the deal, GSK's Consumer Healthcare unit and Novartis' Novartis OTC unit merged into a worldwide joint venture. (GSK in June 2018 bought Novartis' 36.5% stake in the joint venture, giving GSK 100% ownership.)

    Novartis over-the-counter health care brands included Voltaren, Excedrin, Otrivin, Theraflu, Benefiber, Gas-X, Maalox and Prevacid24HR. (Novartis in 2005 paid $646 million for the U.S. and Canadian Consumer Medicines operations of Bristol Myers Squibb, a deal that included Excedrin.)

    (Less than a month after the GSK/Novartis deal was announced in 2014, Bayer in May 2014 struck a deal to buy Merck's Merck Consumer Care business; the combined Bayer and Merck OTC portfolios had 2013 pro forma worldwide sales of $7.4 billion. Bayer completed that acquisition in October 2014.)

    History:

    GSK in July 2022 spun off its consumer health care products unit as a separate public company, Haleon.

    GSK was the product of multiple mergers. SmithKline (once known as Smith, Kline and French Co.) in 1982 combined with Beckman Instruments to form SmithKline Beckman. SmithKline Beckman and Beecham Group in 1989 merged to form SmithKline Beecham. Glaxo and Wellcome in 1995 merged to form Glaxo Wellcome. Glaxo Wellcome and SmithKline Beecham merged in 2001 to form GlaxoSmithKline.

    GlaxoSmithKline in May 2022 changed its name to GSK.

    https://www.haleon.com

Heineken

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Heineken N.V., or Heineken, is the world's second-largest beer marketer, after Anheuser-Busch InBev.

    Business segments and operations:

    Amsterdam-based Heineken markets more than 300 international, regional, local and specialty beers and ciders in 190 countries. Its flagship brand is Heineken.

    Heineken N.V.'s parent company is Heineken Holding N.V., a publicly traded company that owns a 50.005% stake in publicly traded Heineken N.V.

    Heineken Holding does not engage in operational activities itself; Heineken N.V. is the operating business.

    Rankings:

    According to data from Plato Logic, a beer-industry market-research firm, as quoted in a 20-F filing of Anheuser-Busch InBev, the world's 10 largest brewers based on volume in calendar 2021 were:

    Anheuser-Busch InBev (515 million hectoliters)

    Heineken (262 million)

    Carlsberg (129 million)

    CR Snow (111 million)

    Molson Coors Beverage Co. (81 million)

    Tsingtao (Group) (79 million)

    Asahi (69 million)

    EFES (37 million)

    Beijing Yanjing (36 million)

    Castel (34 million)

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Heineken's stated "marketing and selling expenses" converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of ad spending.

    Deals and strategic moves:

    SABMiller:

    SABMiller, then the world's second-largest brewer, in September 2014 approached then-No. 3 Heineken about a possible acquisition. Heineken said in its annual report for calendar 2014:

    "Heineken consulted its controlling shareholder, Heineken Holding N.V., and on that basis concluded that the proposal was 'non-actionable'. The Heineken family, as the ultimate controlling shareholder, expressed its intent to preserve the heritage and identity of Heineken as an independent company. This decision reflects the confidence of the Heineken family and Heineken N.V.'s management in our ability to continue delivering growth and shareholder value. It has also reinforced our determination to continue the focus on increasing effectiveness and efficiency across all aspects of our business."

    Anheuser-Busch InBev, the world's largest beer marketer, in November 2015 signed a deal to buy SABMiller. Anheuser-Busch InBev in October 2016 completed the deal and then sold SABMiller's majority stake in U.S. beer marketer MillerCoors to Molson Coors Brewing Co.

    Other deals and strategic moves:

    Heineken in June 2021 increased its stake in United Breweries Limited (UBL), a beer marketer in India whose brands include Kingfisher, to 61.5% from 46.5%. Heineken said in its annual report for year ended December 2021: "The acquisition of additional shares in UBL is the only significant acquisition during the year. There were no other significant acquisitions or disposals during 2021."

    Heineken said in its annual report for year ended December 2020: "During 2020, there were no significant acquisitions or disposals."

    Heineken said in its annual report for year ended December 2019: "During 2019 no significant acquisitions or disposals took place."

    Heineken said in its annual report for year ended December 2018: "During 2018 no significant acquisitions or disposals took place."

    The company made several small deals in 2018. Heineken in 2018 bought a 51% stake in La Cibele, a Spanish craft brewer; and a minority stake in Beavertown, a London-based craft brewery.

    Heineken in August 2017 bought about 1,900 U.K. pubs operated by Punch Taverns for 308 million pounds ($398 million).

    Heineken in May 2017 bought Brasil Kirin Holding from Kirin Holdings Co. for 594 million euros ($663 million). Brasil Kirin Holding was one of the largest beer and soft drinks producers in Brazil.

    Alcohol marketer Diageo in October 2015 sold its 57.87% interest in Desnoes & Geddes (Jamaican Red Stripe business) to Heineken (increasing Heineken's stake to 73.32%); sold its 49.99% stake in Guinness Anchor Berhad to Heineken (increasing Heineken's interest to 100%); and acquired Heineken's 20% stake in Guinness Ghana Breweries (raising Diageo's stake to 72.42%). Heineken in 2016 bought an additional 22.5% stake in Desnoes & Geddes. Heineken as of year-end 2016 owned 95.8% of Desnoes & Geddes.

    Heineken and Lagunitas Brewing Co., a northern California-based craft brewer, in September 2015 announced a 50/50 joint venture to market Lagunitas beers in global markets outside the U.S. Lagunitas will continue to operate independently in the U.S. As part of the deal, Heineken in October 2015 acquired a 50% stake in Lagunitas Brewing Co. Heineken in May 2017 bought the remaining 50% stake in Lagunitas, giving it 100% ownership.

    Heineken in 2012 acquired full control of Asia Pacific Breweries (Tiger, Anchor and Bintang brands), a brewer based in Singapore. Heineken in 1932 had co-founded that business, then known as Malayan Breweries.

    Heineken in 2010 bought Femsa Cerveza (Dos Equis, Tecate and Sol brands) in Mexico and Brazil. The deal included rights to distribute the products in the U.S. With that deal, Femsa (Fomento Economico Mexicano), Femsa Cerveza's parent, became a minority shareholder in Heineken Holding.

    Heineken in 2008 bought Scottish & Newcastle (Fosters and Strongbow).

    Heineken in 1968 bought Amstel, a major rival in the Netherlands.

    Stock:

    Heineken N.V.'s parent company is Heineken Holding N.V., a publicly traded company that owns a 50.005% stake in publicly traded Heineken N.V. (Heineken).

    The Heineken and Hoyer families (through L'Arche Green N.V.) own a majority stake in Heineken Holding. That makes the Heineken and Hoyer families the ultimate controlling shareholders in Heineken N.V. (Heineken).

    Heineken listed on the Dutch stock exchange in 1939.

    History:

    Heineken traces its roots to 1864, when Gerard Adriaan Heineken bought a brewery in Amsterdam.

    https://www.theheinekencompany.com

Henkel

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Henkel is a Germany-based global marketer of laundry and home care products, beauty care products and adhesive products.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is an Ad Age Datacenter estimate.

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Deals and strategic moves:

    Sun Products Corp. (2016):

    Henkel in September 2016 bought Sun Products Corp., a U.S. laundry and home care company, from Vestar Capital Partners for about 3.2 billion euros ($3.6 billion). This was the second-largest acquisition in Henkel's history. The acquisition included laundry brands All and Sun and fabric conditioner Snuggle. (Unilever in September 2008 sold its North American laundry business to Vestar for $1.45 billion. The sale included the All, Snuggle, Wisk, Surf and Sunlight brands. Vestar already owned private-label detergent powerhouse Huish Detergents. Vestar merged Huish and the acquired Unilever business to form Sun Products Corp.)

    Other deals and strategic moves:

    Henkel in December 2022 divested its European oral care business.

    The company in July 2022 bought 80% of Shiseido's Asia Pacific hair products professional business (hair care, hair color, perm, straightening, styling and other professional products sold mainly through hair salons in Japan and Asia, including the Shiseido Professional brand, which Henkel licenses from Shiseido). Japan-based Shiseido kept a 20% stake. The business had 2022 sales of 112 million euros ($118 million). This deal came after Henkel in December 2017 bought Zotos International, Shiseido's U.S. hair salon business.

    Henkel in July 2021 bought Swania International, a Luxembourg-based marketer of sustainable laundry and home-care products, from Milestone Investisseurs and individual shareholders for 166 million euros ($196 million). Henkel said Swania in fiscal 2020 had sales of about 40 million euros ($46 million).

    Henkel in June 2021 sold Right Guard and Dry Idea to Thriving Brands. The two deodorant brands are marketed in North America and the U.K. Henkel bought the brands from Procter & Gamble Co. in 2006. P&G had been required to divest the brands as part of its agreement with the Federal Trade Commission to approve its 2005 acquisition of Gillette Co.

    Henkel in November 2020 bought Momentive Performance Materials' consumer sealants business. The purchase included a portfolio of consumer sealants sold under license from General Electric Co. The deal excluded the GE-branded construction sealants product line, which Momentive retained.

    Henkel in September 2020 bought a 75% stake in three direct-to-consumer brands: HelloBody, Banana Beauty and Mermaid&Me. The three brands were sold primarily in Europe. Sales for the three brands totaled about 100 million euros ($111 million) in the 12 months ended June 2020. The brands' founders, Bjoern Keune and Gennadi Tschernow, and buyout firm Capital D kept the remaining 25% stake.

    The company in December 2019 bought Deva Parent Holdings, a premium professional hair care business based in New York.

    Henkel in August 2019 bought a 51% stake in eSalon.com, a Los Angeles-based marketer of customized hair colors sold for at-home application and available as a one-time purchase or as a subscription. The venture launched in 2010. In its announcement, Henkel said: "Through this joint venture, Henkel will further strengthen its leading hair coloration portfolio and expand its digital business." Henkel in March 2022 bought the remaining stake, giving Henkel 100% ownership.

    Henkel in June 2018 bought JemPak Corp., a chemical company in Canada, for 76 million euros ($89 million). JemPak's products included private-label laundry and dishwashing detergents.

    Henkel in June 2016 bought a range of hair-care brands from Procter & Gamble Co. in the Africa/Middle East and Eastern Europe regions for 212 million euros ($246 million).

    Henkel in 2015 bought Colgate-Palmolive Co.'s laundry detergent and prewash brands in Australia and New Zealand (including the Cold Power, Dynamo, Fab and Sard brands) for about 310 Australian dollars (U.S. $221 million).

    Henkel in 2014 bought Spotless Group, a France-based marketer of laundry aid, insect control and household-care products marketed in Europe.

    Henkel in 2014 bought U.S. hair professional companies SexyHair, Alterna and Kenra.

    Henkel in April 2004 acquired Dial Corp., an Arizona-based marketer of brands including Dial (soap)and Purex (detergent).

    Clorox Co., a U.S. household products marketer, in November 2004 did an asset swap with Henkel, a long-time shareholder that was its largest shareholder at the time. This came after Henkel's acquisition of Dial. Henkel handed over Clorox shares that represented an approximately 29% stake in Clorox. In return, Clorox gave Henkel about $2.1 billion cash along with Clorox's Soft Scrub cleaner brand, Clorox's insecticides business and Clorox's 20% stake in a joint venture in Spain (Henkel Iberica).

    Henkel in 2004 also bought Advanced Research Laboratories, a California-based marketer of hair-care products.

    Henkel in 1997 bought Loctite Corp., a marketer of adhesives. Henkel had been a minority shareholder since 1985.

    Henkel in 1995 bought Schwarzkopf, a hair-care products marketer.

    Stock:

    Henkel went public Oct. 11, 1985.

    History:

    Fritz Henkel and two partners founded Henkel & Cie in Germany in 1876 to manufacture and market laundry detergent.

    https://www.henkel.com

Honda Motor Co.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Honda Motor Co. is an automaker based in Tokyo with U.S. headquarters in Torrance, California.

    In addition to cars and sport-utility vehicles, Honda markets motorcycles.

    Honda also makes small airplanes through Honda Aircraft Co., a North Carolina-based subsidiary of American Honda Motor Co.

    Honda's 20-F filing discussed unit sales for year ended March 2023:

    "In fiscal year 2023, approximately 86% of Honda's motorcycle units on a group basis were sold in Asia. Approximately 47% of Honda's automobile units (including sales under the Acura brand) on a group basis were sold in Asia followed by 32% in North America and 15% in Japan. Approximately 40% of Honda's power products units on a group basis were sold in North America followed by 25% in Asia and 21% in Europe."

    Sales and earnings:

    Honda generated the following worldwide "sales revenue" under International Financial Reporting Standards:

    Year ended March 2023 (fiscal 2023): 16.908 billion yen worldwide ($125.1 billion)

    Year ended March 2022 (fiscal 2022): 14.553 billion yen worldwide ($129.7 billion)

    Year ended March 2021 (fiscal 2021): 13.171 billion yen worldwide ($124.2 billion)

    Year ended March 2020 (fiscal 2020): 14.931 billion yen worldwide ($137.4 billion)

    Year ended March 2019 (fiscal 2019): 15.889 billion yen worldwide ($143.3 billion)

    Year ended March 2018 (fiscal 2018): 15,361 billion yen worldwide ($138.7 billion)

    Year ended March 2017 (fiscal 2017): 13,999 billion yen worldwide ($129.5 billion)

    Year ended March 2016 (fiscal 2016): 14,601 billion yen worldwide ($121.6 billion)

    Year ended March 2015 (fiscal 2015): 13,328 billion yen worldwide ($122.0 billion)

    Year ended March 2014 (fiscal 2014): 12,506 billion yen worldwide ($124.9 billion)

    Honda generated the following "net sales and other operating revenue" under U.S. generally accepted accounting principles:

    Year ended March 2015 (fiscal 2015): 12,647 billion yen worldwide ($115.7 billion)

    Year ended March 2014: 11,843 billion yen worldwide ($118.3 billion) (U.S.: 4,934,018 million yen or $49.3 billion or 41.7%)

    Year ended March 2013: 9,878 billion yen worldwide ($118.5 billion) (U.S.: 4,063,727 million yen or $48.8 billion or 41.1%)

    Year ended March 2012: 7,948 billion yen worldwide ($100.7 billion) (U.S.:$39.3 billion or 39.0%)

    Year ended March 2011: 8,937 billion yen worldwide ($104.6 billion) (U.S.: $41.0 billion or 39.2%)

    Year ended March 2010: 8,579 billion yen worldwide ($92.5 billion) (U.S.: $35.5 billion or 38.4%)

    Year ended March 2009: 10,011 billion yen worldwide ($100.1 billion) (U.S.: $39.9 billion or 39.9%)

    Year ended March 2008: 12,003 billion yen worldwide ($105.4 billion) (U.S.: $46.7 billion or 44.3%)

    Year ended March 2007: 11,087 billion yen worldwide ($94.9 billion) (U.S.: $45.3 billion or 47.7%)

    Honda changed its worldwide financial reporting to International Financial Reporting Standards from U.S. generally accepted accounting principles effective with the year ended March 2015.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is an Ad Age Datacenter estimate.

    Honda stopped disclosing worldwide advertising expenses effective in the year ended March 2015.

    In an earlier 20-F filing and Japanese annual regulatory filing, Honda reported worldwide "advertising expenses" of 297.514 billion yen ($2.972 billion) in year ended March 2014.

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Agencies:

    American Honda Motor Co. in January 2017 moved its U.S. media account for the Honda and Acura brands back to independent RPA from Publicis Groupe's Mediavest after a review.

    Honda in August 2014 consolidated digital marketing for the Honda and Acura brands with a team drawn from Razorfish and siblings at Publicis Groupe. Razorfish, WPP's VML, Meredith Corp.'s MXM and Interpublic Group of Cos.' R/GA competed in the pitch, which began in January 2014.

    Previously, independent RPA handled digital creative for Honda while MXM and Interpublic's Mullen handled digital for Acura. Following the August 2014 decision, RPA continued to handle consumer-facing digital content along with social-media support for the Honda brand; Mullen continued to do much of that for Acura. Razorfish works with both creative agencies to optimize the brand and consumer-facing websites while maintaining the independent brand characteristics of each site. Additionally, Razorfish is responsible for both Honda and Acura owner websites and social-media support for Acura.

    American Honda in March 2013 completed a review of U.S. creative and media for its Honda and Acura brands. It kept Honda creative at independent RPA. The company moved Acura creative to Interpublic Group of Cos.' Mullen from RPA. The company hired Mediavest as its new media agency, replacing RPA. (As noted above, Honda moved the media account back to RPA in January 2017.)

    American Honda began the review in December 2012. The review did not include multicultural advertising, handled by Muse Communications and Orci.

    U.S. auto advertising for the Honda brand has been handled since 1986 by RPA, which took over the business from Needham Harper. RPA (formerly Rubin Postaer & Associates) was founded by Needham Harper veterans Gerry Rubin and Larry Postaer. Needham Harper gave up the Honda account when the agency merged in 1986 with DDB (then an agency for Volkswagen) as part of a roll up with BBDO (then an agency for Chrysler) that created Omnicom.

    Ketchum Advertising (later known as Fathom) handled Acura creative from the brand's 1986 launch until 1996, when American Honda moved Acura to Suissa Miller following a review. American Honda shifted Acura creative and media in 1999 to RPA without a review, dropping Suissa Miller for creative and Interpublic's Western Initiative Media for media.

    Deals and strategic moves:

    Honda in fourth-quarter 2018 made a $750 million equity investment in GM Cruise Holdings, General Motors Co.'s autonomous vehicle technology venture.

    The companies said Honda would work jointly with Cruise and GM "to fund and develop a purpose-built autonomous vehicle for Cruise." The October 2018 announcement of the deal said: "Honda will contribute approximately $2 billion over 12 years to these initiatives, which, together with a $750 million equity investment in Cruise, brings its total commitment to the project to $2.75 billion."

    Management and employees:

    Toshihiro Mibe in April 2021 succeeded Takahiro Hachigo as president-CEO, becoming Honda's ninth president. Before taking the post, Mibe served as senior managing director, where he oversaw research and development, production, purchasing, quality, parts, service, intellectual property, standardization and information technology. Mibe was born July 1, 1961, and joined Honda in 1987.

    Hachigo succeeded Takanobu Ito as president-CEO in June 2015.

    Ito succeeded Takeo Fukui as president-CEO in June 2009.

    Fukui became president in 2003.

    History:

    Honda Motor Co. was founded in 1948.

    https://www.honda.com

Hyundai Motor Co.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Hyundai Motor Co. is the largest automaker based in South Korea.

    Business segments and operations:

    Hyundai goes to market with two automotive brands: Hyundai and Genesis.

    Hyundai in November 2015 unveiled Genesis as a global luxury brand, recasting the Hyundai Genesis model name as a distinct nameplate. Models in the Genesis line use an alphanumeric naming structure. The former Hyundai Genesis sedan became the Genesis G80; the former Hyundai Equus, Hyundai's flagship luxury sedan, became the G90.

    In announcing the brand, Hyundai said: "The name 'Genesis,' which also means new beginnings, hints at the new values and standards that the brand will bring to the global luxury car market. Initially on sale in the Korean, Chinese, North American and Middle Eastern luxury car markets, the Genesis brand will expand its reach to Europe and other parts of Asia as the model range grows to full strength."

    At the launch in the U.S., the Genesis brand was sold in Hyundai dealerships rather than in separate dealerships. Hyundai began to open standalone Genesis dealerships in 2022.

    Rankings:

    Hyundai's U.S. unit, Hyundai Motor America, ranked as the No. 6 U.S. auto marketer in 2022; No. 7 in 2021, 2020 and 2019; No. 8 in 2018; and No. 7 in 2017, 2016, 2015, 2014, 2013, 2012, 2011, 2010, 2009, 2008 and 2007 based on unit sales, according to data from Automotive News analyzed by Ad Age Datacenter.

    Sales and earnings:

    Hyundai generated 39.2% of net sales (in won) from North America in 2022; 34.6% in 2021; 35.2% in 2020; 34.0% in 2019; 31.7% in 2018; 32.0% in 2017; 33.3% in 2016; 31.7% in 2015; 30.0% in 2014; 29.4% in 2013; 29.3% in 2012; and 25.5% in 2011.

    Hyundai said it sold 3,944,579 vehicles worldwide in 2022.

    Hyundai reported the following global retail unit sales:

    2022: 3,944,579 vehicles (from December 2022 sales results) (U.S.: 780,675 or 19.8% of worldwide units)

    2021: 3,890,726 vehicles (U.S.: 787,702 or 20.2% of worldwide units)

    2020: 3,744,737 vehicles (U.S.: 638,653 or 17.1% of worldwide units)

    2019: 4,425,528 vehicles (U.S.: 710,004 or 16.0% of worldwide units)

    2018: 4,589,199 vehicles (U.S.: 677,944 or 14.8% of worldwide units)

    2017: 4,506,275 vehicles (U.S.: 685,555 or 15.2% of worldwide units)

    2016: 4,914,000 vehicles(U.S.: 775,005 or 15.8% of worldwide units)

    2015: 4,843,000 vehicles (U.S.: 761,710 or 15.7% of worldwide units)

    2014: 4,835,000 vehicles (U.S.: 725,718 or 15.0% of worldwide units)

    2013: 4,621,000 vehicles (U.S.: 720,783 or 15.6% of worldwide units)

    2012: 4,392,000 vehicles (U.S.: 703,007 or 16.0% of worldwide units)

    2011: 4,099,000 vehicles (U.S.: 645,691 or 15.8% of worldwide units)

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is Ad Age Datacenter's estimate of Hyundai's U.S. advertising and sales promotion spending.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Hyundai's stated worldwide "advertisements and sales promotion" expenses converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    Hyundai reported 2022 worldwide "advertisements and sales promotion" expenses of 3,103 billion won ($2.411 billion).

    Hyundai prior to 2012 broke out advertisements and sales promotion into the following buckets:

    Worldwide "advertisements" expenses:

    2011: 1,416 billion won ($1.288 billion) (1.82% of worldwide revenue)

    2010: 1,245 billion won ($1.083 billion) (1.86%)

    Worldwide "sales promotion" expenses:

    2011: 789.5 billion won ($718.4 million) (1.01% of worldwide revenue)

    2010: 801.8 billion won ($697.5 million) (1.20%)

    Agencies:

    Hyundai Motor America and Kia Motors America moved media to Canvas Worldwide from Interpublic Group of Cos.' Initiative effective Jan. 1, 2016. Canvas launched in September 2015 as a joint venture of Innocean Worldwide, a South Korea-based agency network and company, and Horizon Media, a U.S. media agency network and company. Innocean in April 2022 bought Horizon's stake, giving Innocean 100% ownership of Canvas Worldwide.

    Innocean, which handles Hyundai Motor Co. advertising in many markets including the U.S., is backed by Hyundai's founding family; Innocean staged its initial public offering in South Korea in July 2015.

    Hyundai in September 2008 decided to drop its national creative agency, Omnicom Group's Goodby, Silverstein & Partners, just 17 months after moving the account to Goodby from independent Richards Group in April 2007. Goodby Silverstein officially handled Hyundai through March 31, 2009. Hyundai then shifted its U.S. account to Innocean, which established an office in Orange County, California, near Hyundai's U.S. offices.

    Hyundai as of December 2022 owned 33.88% of Kia, according to Hyundai financial disclosures.

    Awards:

    Ad Age named Hyundai Motor America the 2009 Marketer of the Year.

    History:

    Hyundai entered the U.S. market with the 1986 Excel, a subcompact with a starting price of just $4,995 ($1,000 above the price of the cheapest new car at the time, the much-maligned Yugo).

    Hyundai has moved up the food chain, initially with Hyundai Genesis models and then with the Hyundai Equus. The company in December 2010 launched the Equus luxury sedan, which had a starting price of $58,000.

    Hyundai in November 2015 unveiled Genesis as a global luxury brand, recasting the Hyundai Genesis model name as a distinct nameplate. The former Hyundai Genesis sedan became the Genesis G80; the former Hyundai Equus became the G90.

    Hyundai Motor Co. was incorporated in 1967.

    https://www.hyundai.com

IBM Corp.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    IBM Corp. is a technology services, software and hardware marketer with operations in more than 175 countries.

    IBM operates a large global digital-agency network, IBM iX.

    Sales and earnings:

    The U.S. accounted for 41.5% of worldwide revenue in 2022; 39.9% in 2021; 40.3% in 2020 (restated); 40.5% in 2019 (restated); 36.5% in 2018; 37.6% in 2017; 37.8% in 2016; 37.3% in 2015; 34.5% in 2014; 34.0% in 2013 (restated); 33.7% in 2012 (restated); 34.6% in 2011; 35.6% in 2010; 35.7% in 2009; 35.4% in 2008; and 37.0% in 2007.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of IBM's U.S. advertising and promotional expense.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is IBM's stated "advertising and promotional expense."

    IBM reported 2022 worldwide advertising and promotional expense of $1.330 billion.

    "Advertising and promotional expense" includes media, agency and promotional expense.

    IBM's 10-K for year ended December 2022 said:

    "The company expenses advertising and promotional costs as incurred. Cooperative advertising reimbursements from vendors are recorded net of advertising and promotional expense in the period in which the related advertising and promotional expense is incurred."

    Kyndryl Holdings:

    IBM in November 2021 spun off the managed infrastructure services unit of its Global Technology Services segment as Kyndryl Holdings, an independent public company based in New York.

    Kyndryl disclosed the following worldwide "advertising and promotional expense" (including media, agency and promotional expense):

    2021: $56 million (0.3% of revenue)

    2020: $34 million (0.2% of revenue)

    2019: $55 million (0.3% of revenue)

    2018: $40 million (0.2% of revenue)

    Red Hat:

    IBM in July 2019 bought Red Hat, an open source cloud software company. Red Hat disclosed the following worldwide "advertising expense":

    Year ended Feb. 28, 2019: $127.0 million (3.8% of total revenue)

    Year ended Feb. 28, 2018: $111.5 million (3.8% of total revenue)

    Year ended Feb. 28, 2017: $95.7 million (4.0% of total revenue)

    Year ended Feb. 29, 2016: $88.9 million (4.3% of total revenue)

    Agencies:

    IBM consolidated advertising at WPP's Ogilvy & Mather Worldwide (now Ogilvy) in 1994.

    Deals and strategic moves:

    IBM in August 2023 agreed to sell its Weather Co. business to Francisco Partners, a buyout firm, for an undisclosed price. IBM expected to complete the sale by the end of first-quarter 2024. Assets acquired by Francisco included The Weather Channel mobile and cloud-based digital properties including Weather.com, Weather Underground and Storm Radar as well as enterprise offerings for broadcast, media, aviation, advertising technology and data solutions for other industries. IBM in January 2016 bought the Weather Co. business for $2.278 billion cash. IBM didn't buy the cable TV segment (The Weather Channel); the cable channel licensed weather forecast data and analytics from IBM under a long-term contract. Prior to the sale to IBM, Weather Co. was owned by buyout firms Blackstone Group and Bain Capital and Comcast Corp.'s NBCUniversal, which retained ownership of the Weather Channel cable channel. Entertainment Studios, an independent TV and movie producer and distributor owned by former comedian Byron Allen, in March 2018 bought the cable channel from Blackstone, Bain and NBCUniversal.

    IBM in 2022 completed eight acquisitions for $2.65 billion.

    IBM in 2021 completed 15 acquisitions for $3.3 billion.

    IBM in November 2021 spun off the managed infrastructure services unit of its Global Technology Services segment as Kyndryl Holdings, an independent public company based in New York.

    IBM in 2020 completed seven acquisitions for $723 million.

    IBM in 2019 completed one acquisition, RedHat.

    IBM in July 2019 bought Red Hat, an open source cloud software company based in Raleigh, North Carolina, for $35 billion. This was IBM's largest-ever acquisition. Red Hat incorporated as ACC Corp. in 1993; changed its name to Red Hat Software in 1995; and shortened its name to Red Hat in 1999. Red Hat went public in August 1999.

    IBM in 2018 completed two acquisitions for $49 million.

    IBM in 2017 completed five acquisitions for $134 million.

    IBM in 2016 completed 15 acquisitions for $5.899 billion.

    IBM in 2015 completed 14 acquisitions for$3.555 billion.

    IBM in October 2014 sold its x86 server business to Chinese computer firm Lenovo for $2.3 billion ($2 billion in cash; the balance in Lenovo stock). This was IBM's second major deal with Lenovo, which in April 2005 acquired IBM's personal-computer business. IBM and Lenovo announced the deal in January 2014.

    IBM in 2014 completed six acquisitions at a total price of $608 million.

    IBM in 2013 completed 10 acquisitions at a total price of $3.219 billion.

    The company in 2012 completed 11 acquisitions at a total cost of $3.964 billion.

    IBM in 2011 completed five acquisitions at a total price tag of $1.849 billion.

    IBM in 2010 completed 17 acquisitions for $6.538 billion.

    IBM in 2009 completed six acquisitions for $1.471 billion.

    Management and employees:

    IBM in January 2020 named Arvind Krishna as CEO effective April 6, 2020, and chairman-CEO effective Jan. 1, 2021. Krishna was age 57 at the time of the January 2020 announcement of his promotion to CEO. Krishna had been IBM senior VP for cloud and cognitive software before becoming CEO.

    Krishna joined IBM in 1990.

    Virginia (Ginni) Rometty, who had been IBM chairman, president and CEO, continued as executive chairman through the end of 2020, when she retired after almost 40 years with the company. Rometty was age 62 at the time of the January 2020 announcement.

    History:

    IBM began in 1911 as the Computing-Tabulating-Recording Co., a consolidation of Computing Scale Co. of America, Tabulating Machine Co. and International Time Recording Co. of New York. In 1924, C-T-R changed its name to International Business Machines Corp., still its official name.

    IBM popularized the term "personal computer" with its August 1981 launch of a microcomputer that it called the IBM Personal Computer.

    https://www.ibm.com

Inner Mongolia Yili Industrial Group Co.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Inner Mongolia Yili Industrial Group Co., or Yili Group, is the largest dairy marketer based in China.

    Business segments and operations:

    Yili Group's far and away biggest product by revenue is liquid milk.

    The company also markets milk powder, milk products and ice cream.

    Yili Group's vision is to "be recognized as the most trustworthy healthy food provider around the world."

    Its four core values are "excellence," "responsibility," "innovation" and "win-win."

    The company said its "soul of brand" is "nourish for life" as "the provider of healthy food and also the advocator of healthy lifestyle."

    Sales and earnings:

    Yili Group reported 2022 worldwide total revenue of 123.2 billion renminbi ($18.3 billion).

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is Yili Group's stated "advertising expense" converted to U.S. dollars by Ad Age Datacenter at average exchange rates.

    Worldwide advertising expenses:

    2022: 14.697 billion renminbi (stated) ($2.189 billion).
    2021: 12.610 billion renminbi (stated) ($1.954 billion).
    2020: 10.999 billion renminbi (stated) ($1.594 billion).
    2019: 11.041 billion renminbi (stated) ($1.599 billion).
    2018: 10.955 billion renminbi (stated) ($1.659 billion).
    2017: 8.206 billion renminbi (stated) ($1.215 billion).
    2016: 7.634 billion renminbi (stated) ($1.150 billion).
    2015: 7.304 billion renminbi (estimated) ($1.175 billion).
    2014: 4.627 billion renminbi (estimated) ($753 million).

    Estimates shown above for 2015 and 2014 are based on the company's stated "A&P expense ratio" (advertising and promotion).

    "Advertising expense" as percentage of "total revenue" (calculated by Ad Age Datacenter starting in 2016; stated "A&P expense ratio" for 2015 and earlier years):

    2022: 11.9%.
    2021: 11.4%.
    2020: 11.4%.
    2019: 12.2%.
    2018: 13.8%.
    2017: 12.1%.
    2016: 12.6%.
    2015: 12.1%.
    2014: 8.5%.
    2013: 8.2%.
    2012: 8.9%.
    2011: 9.8%.
    2010: 12.9%.
    2009: 16.4%.

    "Advertising expense" in recent years has accounted for about two-thirds of Yili Group's "selling expenses."

    Selling expense ratio ("selling expenses" divided by "total revenue"):

    2022: 18.6% (calculated by Ad Age)
    2021: 17.5% (calculated by Ad Age)
    2020: 17.4% (calculated by Ad Age)
    2019: 23.4% (calculated by Ad Age)
    2018: 24.9% (calculated by Ad Age)
    2017: 22.8% (calculated by Ad Age)
    2016: 23.3% (calculated by Ad Age)
    2015: 22.0% (stated).
    2014: 18.5% (stated).
    2013: 17.9% (stated).
    2012: 18.5% (stated).
    2011: 19.5% (stated).
    2010: 22.9% (stated).
    2009: 26.7% (stated)

    Deals and strategic moves:

    U.S.:

    Yili Group in 2017 made an offer for Stonyfield, a U.S. yogurt marketer, after Danone put the brand up for sale. Danone ended up selling Stonyfield to Lactalis, a French dairy products marketer.

    Yili Group in 2015 established Sino US Food Wisdom Valley, which it said was an "intelligent high-end group" intended "to promote a wide range of bilateral collaborations in the fields of agriculture and food between China and the U.S."

    http://www.yili.com

Inspire Brands

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Inspire Brands is a multi-brand restaurant company based in Atlanta.

    Inspire is controlled by Roark Capital, an Atlanta-based buyout firm.

    Roark in August 2023 agreed to buy U.S. sandwich restaurant franchisor Subway. Roark was expected to manage Subway as a standalone chain separate from Inspire and other Roark holdings.

    Business segments and operations:

    Inspire's restaurant brands include Arby's, Baskin-Robbins, Buffalo Wild Wings, Dunkin', Jimmy John's and Sonic Drive-In.

    Sales and earnings:

    Inspire reported 2022 total global system sales of more than $31 billion.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is an Ad Age Datacenter estimate of combined systemwide worldwide ad spending for Inspire's restaurant chains.

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of combined systemwide U.S. ad spending for Inspire's restaurant chains.

    Deals and strategic moves:

    Roark in August 2023 agreed to buy U.S. sandwich restaurant franchisor Subway in a deal said to be valued at about $9.55 billion. Roark was expected to manage Subway as a standalone chain separate from Inspire and other Roark holdings.

    Inspire in December 2020 bought Dunkin' Brands Group, operator of Baskin-Robbins and Dunkin', for $11.3 billion.

    Inspire in October 2019 bought Jimmy John's Sandwiches. This came after Roark Capital Management (Inspire's majority owner) three years earlier, in October 2016, bought a majority stake in Jimmy John's.

    Inspire in December 2018 bought Sonic Corp. (Sonic Drive-In) for $2.3 billion.

    Inspire launched in February 2018 as a multi-brand restaurant company after Arby's Restaurant Group bought Buffalo Wild Wings (including Rusty Taco) for $2.9 billion. (Inspire in December 2022 sold Rusty Taco to buyout firm Gala Capital Partners.)

    Roark in 2011 bought 81.5% of Arby's Restaurant Group from Wendy's/Arby's Group. Wendy's/Arby's Group then changed its corporate name to Wendy's Co. Wendy's kept an 18.5% Arby's stake, which was diluted to a 12.3% stake in Inspire when Arby's and Buffalo Wild Wings came together in February 2018. Wendy's in August 2018 sold its 12.3% Inspire stake to Inspire for $450 million.

    Wendy's/Arby's Group was the product of a 2008 merger. Triarc Cos., parent of Arby's Restaurant Group, in September 2008 bought Wendy's International. Triarc renamed itself Wendy's/Arby's Group. Plans for the merged venture didn't last long. Wendy's/Arby's Group in January 2011 said it was "exploring strategic alternatives for Arby's Restaurant Group, Inc., including a sale of the brand." The company said it had decided to focus on its bigger Wendy's business.

    Background on Dunkin' Brands Group:

    Inspire Brands bought Dunkin' Brands Group in December 2020 for $11.3 billion.

    Dunkin' Brands Group was the franchisor of two fast-food chains, Dunkin' (coffee and baked goods) and Baskin-Robbins (ice cream).

    Dunkin' Brands in 2018 rebranded Dunkin' Donuts as Dunkin'.

    As of 2020, Dunkin' Brands distributed products in more than 60 countries.

    Dunkin' Brands reported its business through five segments: Dunkin' U.S., Dunkin' International, Baskin-Robbins International, Baskin-Robbins U.S. and U.S. Advertising Funds.

    The U.S. Advertising Funds segment primarily generated revenue through continuing advertising fees from U.S. Dunkin' and Baskin-Robbins franchisees. Expenses for the U.S. Advertising Funds are equivalent to revenue for the funds, so Dunkin' Brands didn't make a profit on these funds.

    The company licensed the Dunkin' brand to J.M. Smucker Co. for the sale of packaged coffee in grocery stores. (Smucker also owns and markets Folgers coffee.) The company licenses Smucker and Keurig Dr Pepper to sell Dunkin' K-Cup pods. Coca-Cola Co. has a license to sell Dunkin' branded ready-to-drink bottled iced coffee in some retail outlets (primarily gas and convenience retail). Dean Foods has a U.S. license for ice cream sales.

    Dunkin' Brands' 10-K for year ended December 2019 said:

    "The increase in U.S. Advertising Funds revenues for fiscal year 2019 was due primarily to Dunkin' U.S. systemwide sales growth."

    Dunkin' Brands' 10-K for year ended December 2019 discussed advertising funds:

    "Franchisees in the U.S. ... pay advertising fees to the brand-specific advertising funds administered by us. Franchisees make weekly contributions, generally 5%of gross sales, to the advertising funds. Franchisees may elect to increase the contribution to support general brand-building efforts or specific initiatives.

    "The advertising funds for the U.S., which earned $473.6 million in revenue in fiscal year 2019 primarily from contributions from franchisees, are almost exclusively franchisee-funded and cover substantially all expenses related to marketing, research and development, innovation, advertising and promotion, including market research, production, advertising costs, public relations, and sales promotions.

    "We use no more than 20% of the advertising funds in the U.S. to cover the administrative expenses of the advertising funds and for other strategic initiatives designed to increase sales and to enhance the reputation of the brands.

    "As the administrator of the advertising funds, we determine the content and placement of advertising, which is done through print, radio, television, online, mobile, billboards, sponsorships, and other media, all of which is sourced by agencies.

    "Under certain circumstances, franchisees are permitted to conduct their own local advertising, but must obtain our prior approval of content and promotional plans."

    In most of Dunkin' Brands' international markets, franchisees manage their own advertising spending.

    Dunkin' Brands historic advertising expenses:

    Dunkin' Brands reported the following worldwide "advertising expenses." Expenses were primarily from U.S. Advertising Funds (advertising fees from Dunkin' and Baskin-Robbins franchisees that are used for U.S. advertising); advertising fees and related income from international advertising funds; and gift card program costs.

    2019: $506,755,000

    2018: $498,019,000

    2017: $476,157,000

    2016: $458,568,000

    Dunkin' Brands' two brands date to the 1940s, when Bill Rosenberg founded his first restaurant, subsequently renamed Dunkin' Donuts, and Burt Baskin and Irv Robbins each founded a chain of ice cream shops that eventually combined to form Baskin-Robbins.

    Allied Domecq, a U.K.-based alcohol marketer, acquired Baskin-Robbins in 1973 and Dunkin' Donuts in 1989. The brands were organized under the Allied Domecq Quick Service Restaurants subsidiary, which was renamed Dunkin' Brands in 2004.

    Spirits marketer Pernod Ricard acquired Allied Domecq in July 2005 and decided to divest Dunkin' Brands. The restaurant business was acquired by buyout firms Bain Capital Partners, Carlyle Group and Thomas H. Lee Partners in March 2006 and later renamed Dunkin' Brands Group.

    Dunkin' Brands Group completed its IPO in July 2011.

    History:

    Inspire Brands launched in February 2018 as a multi-brand restaurant company after Arby's Restaurant Group bought Buffalo Wild Wings.

    Inspire is controlled by Roark Capital Management, an Atlanta-based buyout firm.

    https://www.inspirebrands.com

Intel Corp.

  • Marketer profile
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    Overview:

    Intel Corp. is a computer-chip and technology company based in Santa Clara, California

    Largest customers:

    Intel's 10-K filing for year ended December 2022 said: "In 2022, our three largest customers accounted for 42% of our net revenue (43% in 2021 and 39% in 2020)."

    Dell Technologies was Intel's largest worldwide customer in calendar 2022, generating 19% of Intel net revenue, vs. 21% in 2021; 17% in 2020 and 2019; 16% in 2018 and 2017; 15% in 2016 and 2015; 16% in 2014; 15% in 2013; 14% in 2012; 15% in 2011; 17% in 2010; and 17% in 2009.

    Lenovo Group was Intel's No. 2 customer in 2022, generating 12% of Intel net revenue, vs. 12% in 2021 and 2020; 13% in 2019; 12% in 2018; 13% in 2017, 2016 and 2015; 12% in 2014; 12% in 2013; 11% in 2012; 9% in 2011; and 8% in 2010.

    HP Inc. was Intel's No. 3 customer in 2022, generating 11% of Intel net revenue, vs. 10% in 2021 and 2020; 11% in 2019, 2018 and 2017; and 10% in 2016.

    Hewlett-Packard Co. in November 2015 split into two companies, HP Inc. (personal computers and printers) and Hewlett Packard Enterprise Co. (servers, storage, networking, converged systems, services and software). Hewlett-Packard Co., HP Inc., and Hewlett Packard Enterprise Co. collectively were Intel's largest customer in calendar 2015, generating 18% of revenue, vs. 18% in 2014; 17% in 2013; 18% in 2012; 19% in 2011; and 21% in 2010 and 2009. Hewlett-Packard Co. in November 2015 broke up in two companies, HP Inc. (personal computers and printers) and Hewlett Packard Enterprise Co. (servers, storage, networking, converged systems, services and software).

    No other customer accounted for more than 10% of Intel net revenue in 2009 through 2022.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of advertising costs including direct marketing.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Intel's stated worldwide "advertising costs" including direct marketing.

    Intel disclosed worldwide advertising costs of $1.2 billion in 2022; $1.1 billion in 2021; $763 million in 2020; $832 million in 2019; $1.2 billion in 2018; $1.4 billion in 2017; and $1.8 billion in 2016.

    Intel revamped its "Intel inside" marketing program in 2017, resulting in a significant reduction in Intel's stated worldwide ad costs.

    Intel's stated ad costs included cooperative advertising expenses (notably, the "Intel inside" program) for the first half of 2017; and for all of 2016.

    Intel said in its 10-K for year ended December 2022:

    "Our global marketing objectives are to build a strong, well-known, differentiated, and meaningful Intel corporate brand that drives preference with businesses and consumers, and to offer a limited number of meaningful and valuable brands in our portfolio to aid businesses and consumers in making informed choices about technology purchases. The Intel Core processor family and the Intel Atom, Celeron, Pentium, Intel Movidius, and Intel Xeon trademarks make up our key CPU brands. This year [2022], we introduced the Intel Max Series product family with two leading-edge products for high-performance computing (AI): the Intel Xeon CPU Max Series (also known as Sapphire Rapids HBM) and Intel Data Center GPU Max Series (also known as Ponte Vecchio).

    "We promote brand awareness and preference and generate demand through our own direct marketing, as well as through co-marketing programs. Our direct marketing activities primarily include advertising through digital and social media and television, as well as consumer and trade events, industry and consumer communications, and press relations. We market to consumer and business audiences and focus on building awareness and generating demand for our products. Our key messaging focuses on increased performance, improved energy efficiency, and other capabilities such as connectivity.

    "Certain customers participate in cooperative advertising and marketing programs. These cooperative advertising and marketing programs broaden the reach of our brands beyond the scope of our own direct marketing. Certain customers are licensed to place Intel logos on computing devices containing our microprocessors and processor technologies, and to use our brands in their marketing activities. The program partially reimburses customers for marketing activities for products featuring Intel brands, subject to customers meeting defined criteria. These marketing activities primarily include advertising through digital and social media and television, as well as press relations. We have also entered into joint marketing arrangements with certain customers."

    Deals and strategic moves:

    Intel and Tower Semiconductor in August 2023 terminated a deal for Intel to buy Tower, an Israel-based operator of factories for analog semiconductor production, "due to the inability to obtain in a timely manner the regulatory approvals required under the merger agreement." Intel had signed the deal in February 2023 to buy Tower for a total enterprise value of about $5.4 billion.

    Intel in October 2022 staged an initial public offering for Mobileye Global, selling a minority stake in the Israel-based venture. Intel in August 2017 bought Mobileye for $14.5 billion. Mobileye develops computer vision and machine learning, data analysis, localization and mapping for advanced driver assistance systems and autonomous driving.

    Intel in April 2017 sold a 51% stake in Intel Security Group operations, including McAfee software security products, to buyout firm TPG for $4.2 billion (consisting of $924 million in cash proceeds, $1.1 billion in the form of equity representing a 49% ownership stake in McAfee and $2.2 billion in promissory notes). McAfee and TPG in third-quarter 2017 repaid the $2.2 billion promissory notes. The spinoff venture took the name McAfee LLC and is focused on cybersecurity. Intel bought McAfee in February 2011 for $6.7 billion (net of $943 million of cash and cash equivalents acquired). McAfee Corp. in October 2020 went public through an initial public offering. McAfee went private in 2022 after being acquired by an investor group led by Advent International.

    History:

    Intel opened its doors in 1968 under the name NM Electronics.

    Bob Noyce and Gordon Moore left Fairchild Semiconductor in 1968 to launch NM Electronics. Later in 1968, they bought rights to the Intel name from a company called Intelco.

    Intel ran its first ad in 1971 to launch its first microprocessor, the 4004, with a print ad in the Nov. 15 issue of Electronic News.

    In 1974, Intel introduced a breakthrough general-purpose microprocessor, the 8080. The company pays homage to that chip with what remains its headquarters telephone number: (408) 765-8080. Intel over the decades has had a close relationship with software marketer Microsoft Corp.; Microsoft's headquarters phone number is (425) 882-8080.

    Intel introduced the "Intel inside" cooperative advertising program in 1991.

    http://www.intel.com

Intuit

  • Marketer profile
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    Overview:

    Intuit is a financial-services software marketer based in Mountain View, California. Its brands include TurboTax, Credit Karma, QuickBooks and Mailchimp.

    Business segments and operations:

    Intuit said international revenue accounted for about 8% of worldwide revenue in fiscal 2023 (year ended July 31, 2023); 8% in fiscal 2022; 5% in fiscal 2021; and 4% in fiscal 2020.

    Intuit said international revenue accounted for less than 5% of its worldwide revenue in fiscal 2019, 2018, 2017 and 2016.

    Marketing spending:

    Intuit said in its 10-K for year ended July 2023:

    “We use a variety of marketing programs to generate direct sales, develop leads, increase general awareness of the Intuit brand and our product portfolio, and drive sales in retail. These programs include offline marketing such as TV and radio advertising; digital marketing such as display and pay-per-click advertising, search engine optimization, and social and affiliate marketing; mobile marketing through online app stores; email marketing; retail marketing; public relations; sponsorships; podcast marketing; and in-product marketing to drive awareness of related products and services. Our campaigns are designed to attract new users, retain existing users, and cross sell additional offerings.”

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World’s Largest Advertisers report and related database is Intuit’s stated worldwide “advertising expense.”

    Intuit disclosed worldwide advertising expense of about $1.5 billion for the 12 months ended July 31, 2023 (fiscal 2023), compared to $1.6 billion for the 12 months ended July 31, 2022.

    U.S. ad spending:

    Total U.S. advertising spending shown in the Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of Intuit ad spending.

    Deals and strategic moves:

    Mailchimp (acquisition):

    Intuit on Nov. 1, 2021, bought Rocket Science Group (Mailchimp) for total consideration of $12.0 billion, including $5.7 billion in cash and 10.1 million shares of Intuit common stock with a value of about $6.3 billion. Mailchimp is a marketing platform that lets small and mid-market businesses digitally promote their businesses across email, social media, landing pages, ads and websites.

    Credit Karma (acquisition):

    Intuit Dec. 3, 2020, bought Credit Karma, a consumer technology company focused on personal finance, for total consideration of $8.1 billion, which included assumed equity awards and restricted shares subject to a revest provision. The fair value of the purchase price totaled $7.2 billion and included $3.4 billion in cash, 10.6 million shares of Intuit common stock with a fair value of $3.8 billion and assumed equity awards for services rendered through the acquisition date of $47 million. Intuit announced the deal on Feb. 24, 2020.

    Credit Karma’s stated worldwide “advertising costs” for calendar year:

    2019: $228.8 million (23.5% of revenue)

    2018: $172.3 million (21.2% of revenue)

    Quicken (sale):

    Intuit April 1, 2016, sold Quicken, a personal-finance software brand, to H.I.G. Capital, a buyout firm.

    Also on April 1, 2016, Intuit sold QuickBase, an application development platform, to Welsh, Carson, Anderson & Stowe, a buyout firm.

    Intuit Feb. 1, 2016, sold its Demandforce business to Internet Brands, an online media and software services firm.

    Intuit received $463 million cash from the sale of Quicken, QuickBase and Demandforce.

    Intuit bought Demandforce, a provider of online marketing and customer communication solutions for small businesses, in May 2012 for about $449 million.

    Intuit in 1999 bought Turning Mill Software for $22.1 million in stock. Intuit in 2000 rebranded Turning Mill’s oneBase as QuickBase.

    Intuit developed Quicken in 1983.

    Quicken Loans:

    Intuit in December 1999 bought Rock Financial Corp. Intuit combined Intuit’s QuickenMortgage business with Rock’s online and traditional lending business, creating Quicken Loans.

    Intuit in July 2002 sold 87.5% of Quicken Loans to Rock Acquisition Corp.

    Intuit in October 2012 sold its remaining 12.5% stake to Rock’s majority shareholders.

    Rock evolved into Rocket Cos., which went public in 2020. Rocket’s Quicken Loans subsidiary uses the Quicken Loans trademark under license from Intuit. Rocket Cos. had an agreement with Intuit that gave Rocket Cos. full ownership of the Quicken Loans brand in 2022.

    Quicken Loans officially changed its name to Rocket Mortgage on July 31, 2021. In announcing the move, Rocket Cos. said: “This change will bring alignment to the overall 'Rocket' brand, while also making it clear to homebuyers that technology, a core tenet of Rocket Companies, is injected throughout the entire homebuying lifecycle--from home search to mortgage closing.”

    Rocket’s 10-K for year ended December 2021 said:

    “The company has a perpetual trademark license agreement with a third-party entity. This agreement requires annual payments by the company based upon the income from the sale of loans generated under the Quicken Loans brand. Total licensing fees incurred and paid were” $625,000, $7.5 million and $7.5 million “for the years ended December 31, 2021, 2020 and 2019. … The company has entered into an agreement with Intuit that, among other things, gives the company full ownership of the ‘Quicken Loans’ brand in 2022 in exchange for certain agreements, subject to the satisfaction of certain conditions. We have fulfilled our payment obligations pertaining to the licensing agreement with Intuit in 2021 and no further expenses are expected.”

    A Rocket filing in May 2022 said:

    “The company has entered into an agreement with Intuit that, among other things, is expected to give the Company full ownership of the ‘Quicken Loans’ brand by mid-2022 in exchange for certain agreements, subject to the satisfaction of certain conditions. Additionally, we have fulfilled our payment obligations pertaining to the trademark licensing agreement with Intuit in 2021 and no further expenses are expected.”

    Microsoft Corp.:

    Microsoft Corp. in October 1994 struck a deal to buy Intuit in a transaction valued at $1.5 billion. The companies abandoned the deal in May 1995 after the Justice Department sued to block the merger.

    History:

    Intuit was incorporated in March 1984 and completed its initial public offering in March 1993.

    https://www.intuit.com

JD.com

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    JD.com is an online retailer in China.

    JD is based in Beijing and incorporated in the Cayman Islands.

    Business segments and operations:

    In its "About us" section on its website, JD said: "JD.com is China's largest online retailer and its biggest overall retailer."

    JD described itself this way in a May 2023 earnings release:

    "JD.com is a leading supply chain-based technology and service provider. The company's cutting-edge retail infrastructure seeks to enable consumers to buy whatever they want, whenever and wherever they want it. The company has opened its technology and infrastructure to partners, brands and other sectors, as part of its Retail as a Service offering to help drive productivity and innovation across a range of industries."

    JD is primarily focused on business-to-consumer online retailing. Chinese e-commerce rival Alibaba Group Holding has a heavier focus on business-to-business e-commerce, offering a marketplace for buyers and sellers.

    Rankings:

    JD ranked as the world's seventh-largest retailer in the Top 250 ranking based on fiscal 2021 sales in Deloitte's Global Powers of Retailing 2023 report.

    Sales and earnings:

    Worldwide figures shown are for stated total net revenue (sales) and net income (earnings) converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    The majority of JD's revenue comes from online retail sales in China.

    JD does not break out geographical information beyond China since most of its revenue comes from within China.

    Net revenue in the company's JD Retail segment in 2022 was equal to 89% of JD's total net revenue.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide ad spending figures shown in the Ad Age World's Largest Advertisers report and related database are JD's stated worldwide "advertising expenditures" (also called "advertising costs") converted to U.S. dollars by Ad Age Datacenter at average exchange rates.

    JD made its debut in the Ad Age World's Largest Advertisers ranking in the December 2022 report.

    JD's worldwide advertising costs:

    2022: 29,898 million renminbi ($4.454 billion (2.9% of total net revenue)
    2021: 32,704 million renminbi ($5.069 billion (3.4% of total net revenue)
    2020: 23,088 million renminbi ($3.347 billion (3.1% of total net revenue)
    2019: 19,286 million renminbi ($2.793 billion (3.3% of total net revenue)
    2018: 15,970 million renminbi ($2.419 billion (3.5% of total net revenue)
    2017: 12,376 million renminbi ($1.832 billion (3.4% of total net revenue)
    2016: 7,790 million renminbi ($1.173 billion (3.0% of total net revenue)
    2015: 5,282 million renminbi ($850 million (2.9% of total net revenue)
    2014: 2,781 million renminbi ($453 million (2.4% of total net revenue)
    2013: 1,491 million renminbi ($241 million (2.2% of total net revenue)
    2012: 1,016 million renminbi ($161 million (2.5% of total net revenue)
    2011: 428 million renminbi ($66 million (2.0% of total net revenue)

    Deals and strategic moves:

    Walmart:

    JD in June 2016 entered into a strategic cooperation agreement with Walmart, the world's biggest retailer.

    As of February 2023, Walmart owned a 9.2% stake in JD.

    JD's April 2023 20-F filing said: "As part of our strategic alliance with Walmart, we acquired ownership of the Yihaodian marketplace platform assets, including the Yihaodian brand, mobile apps and websites. We have collaborated with Walmart on e-commerce, including launching Sam's Club Flagship Store and Walmart Flagship Store on www.jd.com website, as well as Sam's Club Global Flagship Store, Walmart Global Flagship Store, ASDA Flagship Store and several category global stores to sell specific category products (for example Walmart Beauty and Personal Care Global Store) on JD Worldwide and a one-hour delivery service from Walmart Stores and Sam's Clubs in select cities through the JD Daojia app. As part of the strategic alliance, we also entered into an eight-year non-compete arrangement with Walmart, subject to certain conditions and exceptions."

    Tencent:

    JD in March 2014 acquired some e-commerce businesses and assets from Tencent Holdings, an internet services firm in China. At the same time, JD entered into a strategic cooperation agreement with Tencent.

    Tencent in March 2022 distributed a 2.3% stake in JD to Tencent shareholders.

    JD's April 2023 20-F filing said: "We and Tencent will continue to maintain our mutually beneficial business relationship, including our ongoing strategic partnership agreement."

    Stock:

    JD had its initial public offering on Nasdaq on May 28, 2014.

    History:

    JD opened its online retail website in January 2004.

    JD started selling computer products online in 2004 and had introduced mobile handsets, consumer electronics products and auto parts and accessories by 2007.

    The company significantly expanded its product offerings in 2008 with home appliances and an array of general merchandise product categories, such as home furniture, household goods, luxury goods, sports equipment and mother and childcare products.

    JD began to offer clothing, shoes and cosmetics and other personal care items in 2009; food, beverage, nutritional supplements and books in 2010;music, movies and other media products in 2011; e-books and some private label products in 2012; and groceries in 2013.

JPMorgan Chase & Co.

  • Marketer profile
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    Overview:

    JPMorgan Chase & Co. is a New York-based financial-services firm.

    The company operates JPMorgan Chase Bank, National Association, a bank (branded as Chase) with U.S. branches in 48 states and the District of Columbia; and J.P. Morgan Securities, an investment bank.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is JPMorgan Chase's stated worldwide marketing spending.

    Deals and strategic moves:

    JPMorgan Chase in May 2023 bought substantially all of the assets and assumed the deposits of First Republic Bank in a deal brokered by the Federal Deposit Insurance Corp. First Republic was the second-biggest U.S. bank failure, behind the 2008 collapse of Washington Mutual. JPMorgan Chase rebranded First Republic under the company's Chase brand.

    JPMorgan Chase in September 2008 bought Washington Mutual for $1.9 billion in a deal brokered by the FDIC. JPMorgan Chase rebranded Washington Mutual as Chase.

    JPMorgan Chase in March 2008 struck a deal to buy Bear Stearns Cos., an investment bank that nearly collapsed in early 2008 amid fallout from the housing market's subprime loan implosion. JPMorgan Chase closed the deal May 30, 2008.

    https://www.jpmorganchase.com

Kenvue

  • Marketer profile
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    Overview:

    Kenvue is a consumer health care products marketer based in Skillman, New Jersey.

    Kenvue formerly operated as the Consumer Health segment of Johnson & Johnson, a pharmaceutical, medical technology and consumer health care products marketer based in New Jersey.

    Business segments and operations:

    Kenvue brands include Tylenol, Neutrogena, Listerine, Johnson's, Band-Aid, Aveeno, Zyrtec and Nicorette.

    Kenvue debuted as an independent company with four $1 billion brands and 20 brands with sales more than $150 million.

    Kenvue in 2022 generated 44.1% of revenue from the U.S.

    Trademark agreements:

    Kenvue has a perpetual, irrevocable, exclusive, royalty-free and fully paid up license to use the "Johnson's" brand.

    Kenvue also can use the "Johnson & Johnson" brand during a phase-out period.

    Kenvue's IPO filing said: "We have entered into a trademark phase-out license agreement with Johnson & Johnson. ... Johnson & Johnson has granted us a ... royalty-free, fully paid up worldwide license to use certain trademarks owned by Johnson & Johnson, consisting primarily of marks related to 'Johnson & Johnson' and 'J&J', as well as certain marks related to 'Janssen' and 'CILAG', on a transitional basis following the completion of this [IPO]. Johnson & Johnson retains exclusive ownership of the licensed J&J marks."

    The filing said: "The term of trademark phase-out license agreement will be no more than 10 years following the completion of this [IPO], and our license to use the licensed J&J marks for certain specified purposes will terminate within shorter periods. Our use of the licensed J&J marks on internal or external product packaging and labels will terminate within five years from the completion of [the IPO], and our use of the licensed J&J marks in bottle or product molds and as embossed or debossed on tablets will terminate in the next replacement cycle for such items in the ordinary course of business, but not longer than eight years from the completion of this offering."

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Kenvue made its debut in the Ad Age Leading National Advertisers ranking in the June 2023 report based on estimated U.S. spending in 2022.

    Worldwide ad spending:

    Total worldwide ad spending figures shown in the Ad Age World's Largest Advertisers report and related database are Kenvue's stated worldwide "advertising expenses."

    In a filing for its 2023 IPO, Kenvue said: "Advertising expenses worldwide, which comprised television, radio, print media and digital advertising, were $1,356 million, $1,461 million and $1,230 million in fiscal years 2022, 2021 and 2020, respectively."

    Kenvue made its debut in the Ad Age World's Largest Advertisers ranking in the October 2023 report based on stated 2022 spending.

    Deals and strategic moves:

    Separation from Johnson & Johnson:

    Kenvue staged an initial public offering in May 2023 as the first stage of Johnson & Johnson's moves to spin off its consumer health business.

    As of the closing of the IPO, Johnson & Johnson owned about 89.6% of the total outstanding shares of Kenvue common stock.

    Johnson & Johnson in August 2023 reduced its Kenvue stake to 9.5% following an exchange offer in which shareholders could exchange their Johnson & Johnson shares for Kenvue shares owned by Johnson & Johnson.

    Johnson & Johnson said "Kenvue" was a mashup of "'ken'-meaning knowledge, an English word primarily used in Scotland, and 'vue,' referencing sight."

    Johnson & Johnson in November 2021 said it planned to separate its Consumer Health segment into a standalone public company in 18 to 24 months (implying sometime in 2023). The company announced the name in September 2022.

    The remaining Johnson & Johnson company includes pharmaceutical and medical technology businesses.

    Consumer Health accounted for 15.7% of Johnson & Johnson's 2022 worldwide sales.

    Historic deals and strategic moves:

    Johnson & Johnson in January 2019 bought Dr. Ci:Labo, a Japanese company that marketed dermocosmetic, cosmetic and skin care products, for about $2.1 billion. Johnson & Johnson previously held a 20% stake in Dr. Ci:Labo.

    Johnson & Johnson in July 2016 bought Vogue International for $3.3 billion cash from founder and CEO Todd Christopher and Carlyle Group. Christopher started Vogue in 1987. Carlyle, a buyout firm, invested in Clearwater, Florida-based Vogue in 2014. The deal included the OGX brand of shampoos, conditioners, treatments, styling products, body care and bath products, the FX brand of hair styling products and the Proganix and Maui Moisture hair care lines. OGX was Vogue's primary brand. Vogue's products are sold in the U.S. and in 38 other countries. Johnson & Johnson in December 2006 bought Pfizer's Pfizer Consumer Healthcare (part of the former Warner Lambert) for $16.6 billion cash. Brands included Listerine, Purell, Sudafed, Lubriderm, Rogaine and Nicotrol.

    Stock:

    Kenvue staged an initial public offering in May 2023 as the first stage of Johnson & Johnson's moves to spin off its consumer health business.

    As of the closing of the IPO, Johnson & Johnson owned about 89.6% of the total outstanding shares of Kenvue common stock.

    Johnson & Johnson in July 2023 said it planned to split off at least 80.1% of the shares of Kenvue through an exchange offer in which Johnson & Johnson shareholders could exchange all, some or none of their shares of Johnson & Johnson for shares of Kenvue.

    History:

    Johnson & Johnson was incorporated in 1887.

    Johnson & Johnson in 2023 spun off its consumer health business as Kenvue, a standalone public company.

    https://www.kenvue.com

Kering

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Kering is a Paris-based marketer of luxury goods (leather goods, fashion, shoes, jewelry and watches under such brands as Gucci, Saint Laurent and Bottega Veneta).

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is an Ad Age Datacenter estimate.

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Deals and strategic moves:

    Puma:

    Kering previously controlled Puma, an athletic shoe marketer.

    Kering spun off Puma as a standalone public company in May 2018.

    Kering as of year ended December 2017 owned 86% of Germany-based Puma.

    Following the spinoff, Kering retained 15.70% of Puma share capital and 15.85% of the Puma shares outstanding and voting rights.

    Kering as of year-end 2022 owned a 3% stake.

    Puma, focusing on the Puma and Cobra Golf brands, in June 2015 sold property rights of Tretorn Group, including trademark rights, patents and designs, to U.S.-based brand licensing firm Authentic Brands Group. Tretorn management acquired the operating license from Authentic Brands and continues to market Tretorn in Scandinavia and Europe. Sweden-based Tretorn markets sports and leisure-activity products. Puma bought Tretorn in 2002.

    Kering bought its original Puma stake in 2007.

    History:

    The company was known as Pinault-Printemps-Redoute until 2005, when it shortened its name to PPR.

    PPR in 2013 changed its name to Kering (pronounced like "caring"). Shareholders approved the name change in June 2013.

    The company announced the name change in March 2013, stating: "The suffix '-ing' expresses the idea of movement, one of the constants in the Group's history, as well as its international dimension. The stem 'ker', meaning home in Breton, is a proud reminder of our origins in the Brittany region of France."

    The company was founded in 1963.

    https://www.kering.com

Kia Corp.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Kia Corp. is an automaker based in South Korea.

    Kia is partly owned by Hyundai Motor Co., another South Korean automaker.

    Kia Corp. changed its name from Kia Motors Corp. in January 2021.

    Rankings:

    Kia ranked as the No. 8 U.S. auto marketer in 2022; No. 9 in 2021 and 2020; No. 10 in 2019, 2018 and 2017; No. 8 in 2016 and 2015; No. 9 in 2014, 2013 and 2012 based on unit sales; No. 8 in 2011; and No. 9 in 2010, according to data from Automotive News analyzed by Ad Age Datacenter.

    Kia reported the following worldwide vehicle retail sales (in units):

    2022: 3,150,000 (U.S.: 693,549 or 22.0% of worldwide units)

    2021: 2,897,000 (U.S.: 701,416 or 24.2% of worldwide units)

    2020: 2,662,000 (U.S.: 586,105 or 22.0% of worldwide units)

    2019: 2,869,000 (U.S.: 615,338 or 21.4% of worldwide units)

    2018: 2,815,000 (U.S.: 589,673 or 20.9% of worldwide units)

    2017: 2,760,000 (U.S.: 590,000 or 21.4% of worldwide units)

    2016: 3,018,000 (restated) (U.S.: 648,000 or 21.5% of worldwide units)

    2015: 2,871,000 (restated) (U.S.: 626,000 or 21.8% of worldwide units)

    2014: 2,896,000 (restated)(U.S.: 580,000 or 20.0% of worldwide units)

    2013: 2,740,000 (restated) (U.S.: 535,179 or 19.5% of worldwide units)

    2012: 2,708,780 (U.S.: 557,599 or 20.6% of worldwide units)

    2011: 2,477,668 (U.S.: 485,492 or 19.6% of worldwide units)

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is Ad Age Datacenter's estimate of Kia's U.S. ad spending including advertising and sales promotion spending.

    Worldwide ad spending:

    Starting with the December 2017 Ad Age Global Marketers report, total worldwide ad spending figures shown in the report and related database were Kia's stated worldwide "advertising" expenses plus "sales promotion" expenses converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    Ad Age previously calculated Kia's worldwide ad spending based on Kia's stated worldwide "advertising" expenses.

    Stated worldwide "advertising" expenses (rounded):

    2022: 1,703 billion won ($1.323 billion) (1.97% of worldwide net sales)

    2021: 1,436 billion won ($1.256 billion) (2.06% of worldwide net sales)

    2020: 1,301 billion won ($1.106 billion) (2.20% of worldwide net sales)

    2019: 1,269 billion won ($1.092 billion) (2.18% of worldwide net sales)

    2018: 1,223 billion won ($1.113 billion) (2.26% of worldwide net sales)

    2017: 1,296 billion won ($1.153 billion) (2.42% of worldwide net sales)

    2016: 1,333 billion won ($1.147 billion) (2.53% of worldwide net sales)

    2015: 1,232 billion won ($1.097 billion) (2.49% of worldwide net sales)

    2014: 1,089 billion won ($1.034 billion) (2.31% of worldwide net sales)

    2013: 1,228 billion won ($1.130 billion) (2.58% of worldwide net sales)

    2012: 1,283 billion won ($1.142 billion) (2.72% of worldwide net sales)

    2011: 1,205 billion won ($1.097 billion) (2.79% of worldwide net sales)

    2010: 970 billion won ($843 million) (2.70% of worldwide net sales)

    Kia disclosed the following worldwide "sales promotion" expenses (rounded):

    2022: 1,021 billion won ($793 million) (1.18% of worldwide net sales)

    2021: 990 billion won ($866 million) (1.42% of worldwide net sales)

    2020: 993 billion won ($844 million) (1.68% of worldwide net sales)

    2019: 1,053 billion won ($906 million) (1.81% of worldwide net sales)

    2018: 1,062 billion won ($966 million) (1.96% of worldwide net sales)

    2017: 937 billion won ($834 million) (1.75% of worldwide net sales)

    2016: 941 billion won ($809 million) (1.79% of worldwide net sales)

    2015: 886 billion won ($789 million) (1.79% of worldwide net sales)

    2014: 737 billion won ($700 million) (1.57% of worldwide net sales)

    2013: 795 billion won ($731 million) (1.67% of worldwide net sales)

    2012: 1,010 billion won ($899 million) (2.14% of worldwide net sales)

    2011: 751 billion won ($683 million) (1.74% of worldwide net sales)

    2010: 680 billion won ($592 million) (1.90% of worldwide net sales)

    Kia's total worldwide "advertising" plus "sales promotion" expenses (rounded):

    2022: 2,724 billion won ($2.117 billion) (3.15% of worldwide net sales)

    2021: 2,426 billion won ($2.122 billion) (3.47% of worldwide net sales)

    2020: 2,294 billion won ($1.950 billion) (3.88% of worldwide net sales)

    2019: 2,323 billion won ($1.997 billion) (3.99% of worldwide net sales)

    2018: 2,285 billion won ($2.080 billion) (4.22% of worldwide net sales)

    2017: 2,233 billion won ($1.987 billion)(4.17% of worldwide net sales)

    2016: 2,274 billion won ($1.956 billion) (4.31% of worldwide net sales)

    2015: 2,119 billion won ($1.885 billion) (4.28% of worldwide net sales)

    2014: 1,826 billion won ($1.735 billion) (3.88% of worldwide net sales)

    2013: 2,022 billion won ($1.861 billion) (4.25% of worldwide net sales)

    2012: 2,293 billion won ($2.041 billion) (4.85% of worldwide net sales)

    2011: 1,956 billion won ($1.780 billion) (4.53% of worldwide net sales)

    2010: 1,650 billion won ($1.435 billion) (4.60% of worldwide net sales)

    Agencies:

    Hyundai Motor America and Kia Motors America moved media to Canvas Worldwide from Interpublic Group of Cos.' Initiative effective Jan. 1, 2016. Canvas launched in September 2015 as a joint venture of Innocean Worldwide, a South Korea-based agency network and company, and Horizon Media, a U.S. media agency network and company. Innocean in April 2022 bought Horizon's stake, giving Innocean 100% ownership of Canvas Worldwide.

    Innocean, which handles Hyundai Motor Co. advertising in many markets including the U.S., is back by Hyundai's founding family; Innocean staged its initial public offering in South Korea in July 2015.

    History:

    Kia Motors Corp. was founded in 1944 under the name Kyongseong Precision. It took the name Kia Industry Co. in 1952, when it began making bicycles. Kia over time expanded into motorcycles, trucks (in 1962) and cars (the Brisa, in 1974). Kia began selling cars in the U.S. in 1994 (starting with the subcompact Sephia).

    Kia filed for bankruptcy in 1997. Hyundai Motor Co. rescued the firm in 1998. Hyundai as of December 2021 owned 33.88% of Kia, according to Hyundai financial disclosures.

    Kia opened a U.S. factory, in Georgia, in November 2009.

    Kia Corp. changed its name from Kia Motors Corp. in January 2021.

    https://www.kia.com

Kirin Holdings Co.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Kirin Holdings Co. is a diversified Japanese marketer of alcohol, soft drinks, pharmaceuticals and biochemicals.

    Business segments and operations:

    Beverages (including beer, wine, spirits and soft drinks) are Kirin Holdings' main business.

    A unit of Kirin Holdings in 2019 bought Colorado-based New Belgium Brewing, marketer of Fat Tire Amber Ale and Voodoo Ranger IPA.

    Anheuser-Busch InBev, the world's biggest beer marketer, has a license agreement to brew, market and sell Kirin beer in the U.S.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Kirin Holdings' stated "sales promotion and advertising" expenses converted to dollars at average exchange rates by Ad Age Datacenter.

    Kirin Holdings made its debut in the Ad Age World's Largest Advertisers ranking in the December 2019 report.

    Kirin Holdings previously broke out "advertising" and "sales promotion" separately in its financial statements. The company combined them as "sales promotion and advertising" effective with its financial statements for year ended December 2017.

    Deals and strategic moves:

    Lion, part of Kirin Holdings, on Jan. 1, 2022, bought U.S. craft beer marketer Bell's Brewery. Lion is an Australia-based brewer owned by Kirin. Bell's, founded in Kalamazoo, Michigan, in 1985, joined New Belgium Brewing, a craft beer business that Lion bought in 2019.

    Lion in 2021 bought Australia-based brewer Fermentum Group, marketer of Stone & Wood, Two Birds, Fixation, Little Dragon and Sunly Seltzer.

    Lion Little World Beverages in late 2019 bought Colorado-based New Belgium Brewing, marketer of Fat Tire Amber Ale and Voodoo Ranger IPA. New Belgium was founded in 1991. Lion Little World Beverages is the craft beverages business of Lion. New Belgium was founded in 1991.

    U.S. pharma marketer Amgen in first quarter 2018 bought the remaining 50% ownership interest of Kirin-Amgen from Kirin Holdings. License agreements with Kirin and Johnson & Johnson remained in place. Kirin-Amgen, formed in 1984, licensed and manufactured certain drugs and had been a 50/50 joint venture. Amgen made a cash payment to Kirin of $780 million.

    Beer marketer Heineken in May 2017 bought Brasil Kirin Holding from Kirin Holding for 594 million euros ($663 million). Brasil Kirin Holding was one of the largest beer and soft drinks producers in Brazil.

    History:

    Kirin Holdings' roots date to 1885, when Japan Brewery Co. (forerunner of Kirin Brewery Co.) opened for business.

    Japan Brewery in 1888 introduced a German-style lager beer under the brand name Kirin Beer.

    Kirin Brewery Co. was established in 1907.

    Kirin Brewery Co. changed its name to Kirin Holdings Co. in 2007. In the same year, Kirin Holdings established a new Kirin Brewery Co. unit focused on alcohol beverages.

    https://www.kirinholdings.com/en

L'Oreal

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    L'Oreal is a cosmetics and personal care products marketer based in France.

    The company markets products in more than 150 countries, according to its universal registration document for year ended December 2022.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of advertising and promotion expenses.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are stated worldwide "advertising and promotion" expenses converted to dollars at average exchange rates by Ad Age Datacenter.

    Deals and strategic moves:

    Nestle relationship:

    L'Oreal and Nestle, another member of the Ad Age Leading National Advertisers and Ad Age World's Largest Advertises rankings, on July 8, 2014, completed a deal to reduce Nestle's minority equity stake in L'Oreal and unwind the companies' Galderma joint venture. With this transaction, L'Oreal bought back a portion of L'Oreal shares held by Nestle and transferred L'Oreal's 50% Galderma stake to Nestle. L'Oreal paid for the share buyback by giving Nestle 3.4 billion euros in cash plus the 50% interest in Galderma that L'Oreal said had an enterprise value of 3.1 billion euros. As a result, Nestle's stake in L'Oreal dropped to 23.29% from 29.4%.

    Nestle owned a 20.11% stake in L'Oreal as of February 2023,according to L'Oreal's annual filing.

    Nestle in October 2019 sold its Nestle Skin Health business, including Galderma, to Sweden-based buyout firm EQT and the Abu Dhabi Investment Authority for 10.2 billion Swiss francs ($10.1 billion). Coinciding with completion of the deal, the new owners rebranded Nestle Skin Health as Galderma.

    Sanofi:

    L'Oreal owned a 9.38% stake in Sanofi as of Dec. 31, 2022.

    Acquisitions:

    Selected L'Oreal acquisitions:

    2023: Aesop (skin, hair and body products)

    2022: Skinbetter Science (skin care)

    2021: Takami (skin care), Youth to the People (skin care)

    2020: Mugler, Azzaro (perfumes), Thayers Natural Remedies (skin care)

    2018: ModiFace (developer of augmented reality and artificial intelligence), Stylenanda (South Korean lifestyle products), Pulp Riot (hair color), Thermes de la Roche-Posay (skin care), Logocos (cosmetics)

    2017: CeraVe, AcneFree and Ambi (over-the-counter U.S. skin-care brands)

    2016: IT Cosmetics (U.S. skin care and makeup products)

    2015: Niely Cosmeticos (Brazilian hair-products marketer)

    2014: Decleor and Carita (professional skin-care brands); Magic Holdings International (China-based marketer of cosmetic facial masks); NYX Cosmetics (U.S. cosmetics marketer); Carol's Daughter (U.S. multicultural beauty brand)

    2013: Cheryl's Cosmeceuticals, a marketer of professional skin-care products and treatments in India with 2012 turnover of about 3 million euros ($3.9 million)

    2012: Urban Decay; Cadum

    2011: Q-Med (by Galderma); Clarisonic

    2010: Essie Cosmetics in the U.S

    2008: YSL Beaute

    2000: Matrix and Kiehl's in the U.S

    1998-2000: Softsheen and Carson in the U.S. and in South Africa

    1996: Maybelline in the U.S

    1993: Redken 5th Avenue in the U.S

    1989: La Roche-Posay

    1970: Biotherm

    1965: Laboratoires Garnier

    1964: Lancome

    Stock:

    The Bettencourt Meyers family is L'Oreal's largest investor with a 34.70% stake as of December 2022. Liliane Bettencourt, daughter of L'Oreal founder Eugene Schueller, died in September 2017.

    Nestle owned a 20.11% stake in L'Oreal as of February 2023,according to L'Oreal's annual filing.

    History:

    L'Oreal was founded in 1909.

    https://www.loreal.com

LG Electronics

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    LG Electronics is a consumer electronics and appliance marketer based in South Korea.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of LG's U.S. spending on advertising and promotion.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is LG's stated worldwide "advertising" expense plus "promotion" expense converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    Stated worldwide "advertising" expense (rounded):

    2022: 1,419,979 million won ($1.103 billion; 1.7% of net sales)

    2021: 1,466,382 million won ($1.282 billion; 2.0%) (restated)

    2020: 1,039,956 million won ($884.0 million; 1.6%) (restated)

    2019: 1,208,385 million won ($1.039 billion; 1.9%)

    2018: 1,374,365 million won ($1.251 billion; 2.2%)

    2017: 1,251,010 million won ($1.113 billion; 2.0%)

    2016: 1,322,215 million won ($1.137 billion; 2.4%)

    2015: 1,088,882 million won ($969.1 million; 1.9%)

    2014: 1,153,182 million won ($1.096 billion; 2.0%)

    2013: 1,204,590 million won (($1.108 billion; 2.1%)

    Stated worldwide "promotion" expense (rounded):

    2022: 448,616 million won ($348.6 million; 0.5% of net sales)

    2021: 510,514 million won ($446.4 million; 0.7%) (restated)

    2020: 485,680 million won ($412.8 million; 0.8%) (restated)

    2019: 762,052 million won ($655.4 million; 1.2%)

    2018: 785,333 million won ($714.7 million; 1.3%)

    2017: 813,201 million won ($723.7 million; 1.3%)

    2016: 761,576 million won ($655.0 million; 1.4%)

    2015: 698,107 million won ($621.3 million; 1.2%)

    2014: 833,284 million won ($791.6 million; 1.4%)

    2013: 767,755 million won ($706.3 million; 1.4%)

    Sum: stated worldwide advertising plus promotion expense (rounded):

    2022: 1,868,595 million won ($1.452 billion; 2.2% of net sales)

    2021: 1,976,896 million won ($1.729 billion; 2.7%) (restated)

    2020: 1,525,636 million won ($1.297 billion; 2.4%) (restated)

    2019: 1,970,437 million won ($1.695 billion; 3.2%)

    2018: 2,159,698 million won ($1.965 billion; 3.5%)

    2017: 2,064,211 million won($1.837 billion; 3.4%)

    2016: 2,083,791 million won ($1.792 billion; 3.8%)

    2015: 1,786,989 million won ($1.590 billion; 3.2%)

    2014: 1,986,466 million won ($1.887 billion; 3.4%)

    2013: 1,972,345 million won ($1.815 billion; 3.5%)

    Deals and strategic moves:

    LG as of year-end 2022 owned a 35% stake in GIIR, a South Korea-based agency group, according to GIIR's annual report. GIIR's HS Ad unit was known as LG Ad until the agency changed its name in April 2008.

    LG in 1995 bought Zenith Electronics Corp., a venerable but struggling U.S. consumer electronics marketer.

    History:

    LG Electronics was founded in 1958 as GoldStar.

    https://www.lg.com

LVMH Moet Hennessy Louis Vuitton

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    LVMH Moet Hennessy Louis Vuitton, also known as LVMH Group, is a global marketer of luxury goods.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of LVMH's advertising and promotion expenses.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are stated worldwide "advertising and promotion" expenses (sometimes previously referred to as "communication and promotion" expenses) converted to dollars at average exchange rates by Ad Age Datacenter.

    Tiffany:

    LVMH bought jewelry marketer Tiffany & Co. in January 2021.

    Tiffany & Co. reported the following worldwide "net sales"; "advertising, marketing and public and media relations costs"; and "advertising, marketing and public and media relations costs" as a share of "net sales":

    Fiscal 2019 (year ended Jan. 31, 2020): $4.424 billion; $378.8 million (8.6%)

    Fiscal 2018 (year ended Jan. 31, 2019): $4.442 billion; $394.1 million (8.9%)

    Fiscal 2017 (year ended Jan. 31, 2018): $4.170 billion; $314.9 million (7.6%)

    Fiscal 2016 (year ended Jan. 31, 2017): $4.002 billion; $299.0 million (7.5%)

    Deals and strategic moves:

    LVMH in November 2022 bought Pedemonte Group, a jewelry manufacturer in Italy and France.

    The company in August 2022 bought Joseph Phelps, a California marketer of red wines.

    LVMH in December 2021 acquired an additional 49% stake in Thelios, an eyewear company, bringing its ownership to 100%.

    LVMH in October 2021 bought Officine Universelle Buly, a Parisian perfume and cosmetics brand founded in the 19th century and relaunched in 2014.

    LVMH's Sephora in September 2021 bought Feelunique, an online beauty retailer in the U.K.

    The company in September 2021 purchased an additional 25% stake in Off-White, a fashion brand founded by Virgil Abloh, bringing its ownership to 60%. LVMH in September 2022 boosted its stake to 100%.

    LVMH in May 2021 bought a 50% stake in Armand de Brignac, a premium-priced champagne brand owned by entertainer Shawn "Jay-Z" Carter, for $390 million.

    The company in May 2021 bought an additional 45% stake in Chateau d'Esclans, a wine marketer in France, bringing its ownership to 100%. LVMH bought an initial 55% stake in 2019.

    LVMH in January 2021 completed a deal to buy Tiffany & Co., a New York-based jewelry retailer, for $16.1 billion. LVMH in November 2019 had agreed to buy Tiffany in an all-cash deal with an equity value of about $16.2 billion. LVMH in September 2020 moved to scrap the deal; LVMH asserted the coronavirus pandemic caused a material adverse effect. The companies settled their differences and revised the merger agreement in October 2020.

    LVMH in November 2019 bought a 49% stake in Stella McCartney, a fashion brand.

    LVMH in June 2019 bought Chateau du Galoupet, a wine marketer in France.

    LVMH in April 2019 bought Bermuda-based Belmond, a global owner and manager of luxury hotel, restaurant, train and river cruise properties, for $2.2 billion. Belmond disclosed worldwide revenue of $576.836 million in 2018; $560.999 million in 2017; and $549.824 million in 2016; and marketing costs (including advertising and other marketing activities) of $45.020 million in 2018; $41.590 million in 2017; and $38.361 million in 2016.

    LVMH in 2018 acquired the remaining 20% stake in Fresh, giving it 100% ownership.

    LVMH in July 2017 bought 100% of Christian Dior Couture from Christian Dior for 6 billion euros ($6.9 billion). LVMH already owned 100% of Parfums Christian Dior, a fragrance and beauty care brand.

    Moet Hennessy in July 2017 bought Woodinville Whiskey Co., a marketer of craft whiskeys based in Washington state and founded in 2010. Price tag wasn't disclosed.

    LVMH in January 2017 bought an 80% stake in Rimowa, a luggage marketer based in Germany, for 640 million euros ($685 million). Rimowa's revenue for 2016 was expected to exceed 400 million euros ($443 million).

    LVMH in December 2016 sold Donna Karan International to G-III Apparel Group in a transaction with an enterprise value of $650 million (and a sale price of $542 million after adjustments and deducting Donna Karan's borrowings with LVMH). Donna Karan International, acquired by LVMH in 2001 for $643 million, is the parent of the Donna Karan and DKNY brands. G-III is a designer, manufacturer and marketer of branded apparel and accessories under licensed brands, its own brands and private-label brands.

    LVMH in October 2015 bought 100% of the daily newspaper Le Parisien (The Parisian)/Aujourd'hui en France (Today in France), including the weekly Le Parisien Magazine.

    Sephora in July 2015 bought a 95% equity interest in Luxola, an e-commerce site operating in nine countries in Southeast Asia.

    LVMH and Hermes International, a rival French marketer of luxury goods, in December 2014 completed a settlement resolving an extended legal battle. Under terms of the settlement, LVMH distributed its minority equity stake in Hermes to LVMH shareholders. As part of the settlement, Christian Dior--which owned 40.9% of LVMH through Financiere Jean Goujon--distributed the Hermes shares it received from LVMH to its own shareholders. Following these transactions, LVMH, Financiere Jean Goujon and Christian Dior no longer hold any Hermes stock with the exception of Hermes shares representing rights to fractional interests or non-distributed shares; those shares will be sold no later than September 2015. LVMH had owned a 23.1% stake in Hermes at year-end 2013. LVMH in October 2010 had disclosed its initial purchase of Hermes shares. As of Dec. 31, 2015, LVMH no longer held any Hermes shares.

    LVMH in December 2013 bought 80% of Loro Piana, a marketer of luxury products including clothing (such as cashmere goods) and accessories, for 1.982 billion euros ($2.714 billion). LVMH bought an additional 4.8% stake in February 2017, boosting its holding to 84.8%.

    LVMH in October 2013 bought 52% of Nicholas Kirkwood, a British luxury footwear company.

    The company in September 2013 acquired Hotel Saint Barth Isle de France.

    LVMH in June 2013 bought 80% of Cova, a Milan-based pastry business.

    LVMH in October 2012 acquired the remaining 20% stake in Benefit, giving it 100% ownership.

    The company in June 2012 bought Arnys (France), a ready-to-wear and made-to-measure menswear label.

    LVMH in May 2012 acquired Les Tanneries Roux (France), a leather supplier.

    LVMH in December 2011 bought 51% of Heng Long International, a tanner and finisher of crocodile leather.

    LVMH in 2011 bought 100% of Bulgari, an Italian jewelry and watch marketer. The business previously was majority controlled by the Bulgari family. Sotirio Bulgari started the company in 1884.

    LVMH in November 2011 purchased 100% of ArteCad, a manufacturer of Swiss watch dials.

    LVMH bought Kenzo in 1993.

    Stock:

    LVMH's stock is listed on Euronext Paris.

    The Arnault Family Group as of Dec. 31, 2022, directly or indirectly owned a 48.18% stake in LVMH and 63.90% of LVMH voting rights.

    History:

    Paris-based LVMH was formed by the 1987 merger of Louis Vuitton and Moet Hennessy.

    The company's roots extend back hundreds of years. Claude Moet began producing champagne in the 1700s. Louis Vuitton began making luggage in the 1800s.

    https://www.lvmh.com

Macy's

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Macy's is a department store retailer based in New York.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is Macy's stated gross advertising and promotional costs (net ad costs plus cooperative advertising allowances).

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is Macy's stated gross advertising and promotional costs (net ad costs plus cooperative advertising allowances).

    Macy's does not operate stores outside the United States and its territories. (Bloomingdale's in the United Arab Emirates and Kuwait operates under license agreements with Al Tayer Insignia, part of Al Tayer Group.)

    History:

    The company and its predecessors have operated department stores since 1830.

    The company was incorporated in 1929 as Federated Department Stores. Federated changed its name to Macy's Inc. on June 1, 2007, and took the ticker symbol "M," adopting the name of its flagship chain.

    Federated bought May Department Stores in third quarter 2005 for $17 billion. In September 2006, it rebranded May stores--including Hecht's, Strawbridge's, Filene's, Marshall Field's and Robinsons-May--as Macy's.

    The company, focusing on Macy's, its mid-range department store, and Bloomingdale's, its high-end chain, in October 2006 sold the Lord & Taylor division to NRDC Equity Partners, a partnership between Apollo Real Estate Advisors and National Realty & Development Corp., for $1.2 billion. (Macy's had acquired Lord & Taylor in the May Department Stores deal.) Lord & Taylor in August 2020 filed for Chapter 11 bankruptcy reorganization and closed its stores.

    https://www.macysinc.com

Mars Inc.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Mars is a family-owned marketer whose offerings include pet food, candy and gum.

    Business segments and operations:

    Mars operates four business segments: Mars Petcare, Mars Wrigley, Mars Food and Mars Edge.

    Mars in 2017 combined its Chocolate and Wrigley segments to create Chicago-based Mars Wrigley Confectionery.

    Mars in 2017 formed Mars Edge as a business segment "focused on human health and wellness through targeted nutrition."

    Mars as of 2016 reported nine billion-dollar brands (brands with worldwide sales of at least $1 billion): Pedigree, Royal Canin, Whiskas (pet food); Banfield (veterinary hospitals); Dove/Galaxy, M&M's, Snickers, Twix (candy); Wrigley's Extra (chewing gum).

    Mars, expanding its pet-care business, in September 2017 bought VCA, a chain of U.S. veterinary hospitals.

    Mars already was in the pet-vet business through Banfield Pet Hospital. More than 60% of PetSmart pet-products stores house veterinary hospitals under the name Banfield Pet Hospital. PetSmart owned a 20.5% equity stake in Medical Management International, operator of Banfield Pet Hospital, according to PetSmart's website as of June 2016. Mars owned the rest of Banfield, which became part of Mars in 2007.

    Sales and earnings:

    Mars had worldwide annual sales of "more than $45 billion" and more than 140,000 employees, according to a Mars press release in May 2023.

    Mars had worldwide annual sales of "almost $45 billion" and more than 140,000 employees, according to a Mars press release in June 2022.

    Dun & Bradstreet as of early June 2022 estimated Mars' annual sales at $42.84 billion.

    Mars had worldwide sales of $40 billion and 133,000 employees, according to Mars press releases in April 2022, June 2021 and April 2020.

    Mars had worldwide sales of more than $35 billion and more than 125,000 employees, according to a Mars press release in March 2020.

    Mars had worldwide sales of more than $35 billion and more than 115,000 employees, according to a Mars press release in May 2019.

    Mars had worldwide sales of almost $35 billion and more than 100,000 employees, according to a Mars press release in May 2018.

    Mars had worldwide net sales of almost $35 billion and more than 85,000 employees in 80 countries, according to a Mars corporate press release in May 2017.

    Mars had worldwide net sales of $35 billion and more than 80,000 employees in 78 countries, according to a Mars corporate press release in March 2017.

    Mars had worldwide net sales of more than $35 billion and more than 80,000 employees in 78 countries, according to a Mars corporate press release in July 2016.

    Mars had worldwide net sales of more than $33 billion and more than 80,000 employees in 78 countries, according to a Mars corporate press release in June 2016.

    Mars had worldwide net sales of more than $33 billion and more than 75,000 employees in 73 countries, according to a Mars corporate press release in June 2015.

    Mars had worldwide net sales of more than $33 billion and more than 75,000 employees, according to a Mars corporate press release in April 2014.

    Mars had worldwide net sales of more than $33 billion and more than 72,000 employees, according to a Mars corporate press release in April 2013.

    A Mars press release in January 2013 said Mars had net sales of more than $30 billion and more than 70,000 employees.

    Mars said it had worldwide net sales of more than $30 billion and about 70,000 employees, according to the company website as of May 2012.

    Mars said it was generating annual revenue of $30 billion with more than 65,000 associates at more than 370 sites in 72 countries, according to the company's January 2011 fact sheet.

    As of spring 2010, Mars said it was generating annual revenue of $28 billion with 135 factories in 68 countries worldwide.

    As of spring 2009, Mars said it was generating global sales of more than $30 billion with operations.

    As of spring 2008, Mars said it had annual global sales of $22 billion with operations in more than 66 countries. According to Mars' website as of June 2008, Mars North America, the company's U.S. operation, had more than $7 billion in annual sales. (That excludes Wm. Wrigley Jr. Co., which reported 2007 worldwide revenue of $5.4 billion.)

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of advertising and promotion spending.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is an Ad Age Datacenter estimate of advertising and promotion spending.

    Deals and strategic moves:

    Kevin's Natural Foods:

    Mars in July 2023 agreed to buy Kevin's Natural Foods, a marketer of healthy entrees, side dishes and sauces. Mars expected to complete the deal in third-quarter 2023. Modesto, California-based Kevin's was founded in 2019 and at the time of the acquisition had about 180 employees.

    Heska:

    Mars in June 2023 bought Heska Corp., a Colorado- based provider of veterinary diagnostic and specialty products. . Heska became part of Mars Petcare's Science & Diagnostics division.

    Champion Petfoods:

    Mars Petcare in February 2023 bought Champion Petfoods from an investor group led by Bedford Capital and Healthcare of Ontario Pension Plan. Canada-based Champion marketed two premium pet food brands, Orijen and Acana, in more than 90 countries.

    Kind:

    Mars in November 2020 bought Kind North America, a marketer of "healthier" snack products.

    Price tag wasn't disclosed. Kind founder Daniel Lubetzky kept an ongoing financial stake in Kind.

    The deal came three years after Mars in November 2017 bought a minority stake in Kind. Since Mars bought that stake, Mars and Kind had partnered to expand Kind into more than 35 countries.

    Following the acquisition, Kind North America joined Kind International to form one global organization. The worldwide Kind operation will function as a distinct business unit within Mars.

    VCA:

    Mars in September 2017 bought VCA, the largest U.S. chain of freestanding veterinary hospitals, for about $9.1 billion including $1.4 billion in outstanding debt. At that time, Mars said VCA would operate "as a distinct and separate business within Mars Petcare, alongside its other veterinary services businesses, Banfield Pet Hospital, BluePearl and Pet Partners."

    At the time of its acquisition, VCA had more than 800 animal hospitals and a clinical lab business (Antech Diagnostics) operating in the U.S. and Canada.

    Mars announced the deal in January 2017. Mars' press release announcing the deal said:

    "Mars Petcare's portfolio of veterinary services businesses includes Banfield Pet Hospital, BluePearl and Pet Partners. Together with VCA, these businesses will provide an unprecedented level of access to high quality veterinary care for pets, from wellness and prevention to primary, emergency and specialty care. Mars Petcare is already an industry leader in pet nutrition with global brands that include Royal Canin, Pedigree and Whiskas. Mars has a growing business in pet DNA testing through the Wisdom Panel, and in 2015 also acquired pet technology provider Whistle."

    Los Angeles-based VCA was founded in 1986 under the name Veterinary Centers of America.

    As of year-end 2016, VCA had 795 animal hospitals in 43 states and five Canadian provinces.

    VCA (ticker: WOOF) reported revenue of $2.517 billion in 2016; $2.134 billion in 2015; and $1.918 billion in 2014. That included U.S. revenue of $2.315 billion in 2016; $1.958 billion in 2015; and $1.761 billion in 2014.

    VCA disclosed marketing and advertising expense of $34.1 million in 2016; $33.0 million in 2015; and $30.7 million in 2014.

    Pet foods:

    Mars July 31, 2014, completed a deal to buy 80% of Procter & Gamble Co.'s worldwide pet-food business, including North America and Latin America. Mars paid $2.9 billion cash to buy billion-dollar (sales) brand Iams and two other brands, Eukanuba and Natura in those markets, adding them to a Mars pet-food portfolio that already included billion-dollar brands Pedigree, Whiskas, Banfield and Royal Canin. Mars Inc. then exercised an option to buy an additional 10% of the business in additional markets including Japan, Australia and South Africa. (P&G completed its exit from pet food in December 2014 by selling its European pet-food business, representing about 10% of P&G's worldwide pet-food business, to U.S.-based Spectrum Brands.)

    In the deal announcement, P&G Chairman-CEO A.G. Lafley said: "Exiting Pet Care is an important step in our strategy to focus P&G's portfolio on the core businesses where we can create the most value for consumers and shareowners. The transaction creates value for P&G shareowners, and we are confident that the business will thrive at Mars, a leading company in pet care."

    The deal came four years after P&G expanded its pet-food business with the 2010 acquisition of Natura Pet Products, marketer of Innova, Evo, California Natural, Healthwise, Mother Nature and Karma brands.

    Other pet-related deals:

    Mars in January 2022 bought Nom Nom Now, a Nashville, Tennessee-based direct-to-consumer marketer of fresh pet food.

    Mars in 2021 bought PrettyLitter, a Los Angeles-based direct-to-consumer marketer of cat litter.

    The company in April 2018 bought Opitgen, a DNA diagnostics company specializing in inherited eye disorders in dogs.

    Mars in January 2018 bought Genoscoper Laboratories, which specialized in molecular diagnostics for companion animals.

    Mars in March 2016 bought Whistle, which made "smart" dog collars for tracking a pet's location and fitness.

    Mars bought Nutro, a premium pet-food marketer, in May 2007.

    Wrigley:

    Mars in April 2008 struck a deal to buy chewing-gum marketer Wrigley, another iconic family run (but publicly held) business. Mars completed the $23 billion cash acquisition in October 2008 with financial backing from Warren Buffett's Berkshire Hathaway.

    Berkshire Hathaway's investment consisted of $4.4 billion of subordinated Wrigley notes due in 2018 and $2.1 billion of preferred Wrigley stock. Mars on Oct. 1, 2013, paid $5.1 billion to buy back the Wrigley notes, but Berkshire Hathaway kept its minority ownership stake in Wrigley. Mars in 2016 bought Berkshire's entire equity interest in Wrigley. Berkshire Hathaway owns another candy maker, See's.

    Other deals and strategic moves:

    Mars' Kind in December 2020 bought Nature's Bakery, a snacks marketer.

    Mars in September 2019 bought a majority stake in Foodspring, a direct-to-consumer nutrition products company based in Berlin. Foodspring became a standalone business within Mars Edge. Foodspring was founded in 2013 and employed about 130 people at the time of its acquisition.

    Mars in December 2018 sold the Mars Drinks division to Lavazza Group, a global coffee marketer based in Italy. Mars Drinks included the Flavia and Klix systems, which were brands distributed in offices and vending machines. Mars and Lavazza said Mars Drinks generated about $350 million in revenue in 2017.

    Mars in November 2017 bought a majority stake in Preferred Brands International, a Stamford, Conn.-based marketer of all-natural, ready-to-heat Indian and Asian food products sold primarily under the Tasty Bite brand. Preferred Brands generated a majority of its sales in the U.S. Preferred Brands had an Indian subsidiary in which it held a majority stake that was listed on the Bombay Stock Exchange and the National Stock Exchange of India. That subsidiary continued to be listed after the acquisition.

    Mars in April 2016 completed its acquisition of Grupo Turin, a Mexico-based marketer of chocolate brands including Conejos and Turin.

    History:

    Mars is based in McLean, Virginia, and was founded in 1911.

    https://www.mars.com

Maxingvest (Beiersdorf)

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Maxingvest is a German holding company that controls German firms Beiersdorf and Tchibo.

    Business segments and operations:

    Maxingvest as of year-end 2022 owned a 51.18% stake in Beiersdorf, according to Beiersdorf's annual report for year ended December 2022.

    Maxingvest owns 100% of Tchibo, according to Maxingvest's website.

    Beiersdorf is a personal care products marketer based in Germany. Its global brands include Nivea, Eucerin and La Prairie.

    Beiersdorf also markets adhesive tape and other adhesive products under the brand name Tesa.

    Tchibo is a German-based consumer goods (including coffee), services and retail company.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the World's Largest Advertisers report and related database are Beiersdorf's stated worldwide "advertising and trade marketing" expenses converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    Beiersdorf's stated worldwide advertising and trade marketing expenses:

    2022: 1.883 billion euros ($1.985 billion)

    2021: 1.689 billion euros ($1.999 billion)

    2020: 1.554 billion euros ($1.774 billion)

    2019: 1.638 billion euros ($1.834 billion)

    2018: 1.532 billion euros ($1.810 billion)

    2017: 1.522 billion euros ($1.719 billion)

    2016: 1.496 billion euros ($1.656 billion)

    2015: 1.529 billion euros ($1.698 billion)

    2014: 1.486 billion euros ($1.975 billion)

    Deals and strategic moves:

    Beiersdorf in February 2022 bought Chantecaille Beaute, a prestige beauty products marketer, for an enterprise value between $590 million and $690 million contingent on future performance of the business. Beiersdorf said Chantecaille had global sales of more than $100 million in 2021. New York-based Chantecaille was founded in 1997.

    Germany's Bayer in September 2019 sold its Coppertone sun-care brand to Beiersdorf for $550 million. Coppertone was introduced in 1944 and had 2018 sales of about $213 million. At the time of its sale to Beiersdorf, the brand was marketed in the U.S., Canada and China. Bayer acquired Coppertone in its October 2014 purchase of Merck's Merck Consumer Care business.

    History:

    Beiersdorf was founded in 1882.

    Tchibo began in 1949 as a coffee company.

    Tchibo Holding AG in 2007 changed its name to Maxingvest AG.

    http://www.maxingvest.de/index.php?id=1&language=2

McDonald's Corp.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    McDonald's Corp. is the world's biggest fast-food marketer.

    Sales and earnings:

    Sales and earnings shown in an accompanying table are McDonald's Corp.'s stated financials and largely represent operating results from company-operated restaurants and fees from franchisees.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database for McDonald's is Ad Age's estimate of advertising spending supporting U.S. systemwide franchised and company-operated stores.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database for McDonald's is Ad Age's estimate of advertising spending supporting worldwide systemwide franchised and company-operated stores.

    History:

    McDonald's in 2018 moved its headquarters back to downtown Chicago from suburban Oak Brook, Illinois. McDonald's previously had its headquarters in downtown Chicago from 1955 to 1971.

    https://corporate.mcdonalds.com/corpmcd/home.html

Mercedes-Benz Group

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Mercedes-Benz Group is an auto and van marketer based in Germany.

    Mercedes-Benz Group changed its name from Daimler on Feb. 1, 2022.

    Business segments and operations:

    Mercedes-Benz Cars sells vehicles under the brand names Mercedes-Benz, Mercedes-AMG, Mercedes-Maybach and Mercedes-EQ.

    Mercedes-Benz Vans sells vans primarily sold under the name Mercedes-Benz.

    Mercedes-Benz Mobility supports the sales of the above vehicle segments worldwide with financing and leasing programs for consumers and dealers.

    Discontinued brands:

    Daimler in 2011 announced it would discontinue Maybach, a slow-selling luxury nameplate. Maybach now exists as Mercedes-Maybach, a luxury sub-brand of the Mercedes-Benz Cars division.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is an Ad Age Datacenter estimate.

    Deals and strategic moves:

    Daimler Truck spinoff:

    The company in December 2021 spun off a 65% stake in its truck and bus business to Daimler shareholders. The truck and bus business now operates as a separate German public company under the name Daimler Truck Holding. Daimler in February 2022 changed its name to Mercedes-Benz Group.

    Mercedes-Benz Group had a 30% stake in Daimler Truck as of year-end 2022.

    Smart:

    Mercedes-Benz previously owned the Smart small-car brand. Mercedes-Benz and China's Zhejiang Geely Holding Group in January 2020 formed a 50/50 joint venture, Smart Automobile Co., that is developing Smart as a brand of premium electric vehicles manufactured in China for the global market. The joint venture officially started July 1, 2022. Mercedes-Benz contributed the Smart brand to the joint venture. (Tenaciou3, a major Mercedes-Benz shareholder, is controlled by Li Shufu, the founder and CEO of Geely.)

    The original concept for Smart car came from Nicolas G. Hayek, the late CEO of SMH (now Swatch Group), marketer of the Swatch watch. The name "Smart" played off the first letters of Swatch and Mercedes plus"art."

    Other deals and strategic moves:

    Mercedes-Benz in December 2013 entered a technology partnership with U.K. luxury automaker Aston Martin Lagonda. Aston Martin Lagonda Global Holdings staged an initial public offering in October 2018. Mercedes-Benz at year-end 2022 owned an 9.74% stake in Aston Martin Lagonda Global Holdings, according to Mercedes-Benz's annual report.

    Chrysler deal:

    Mercedes-Benz previously owned Chrysler. Daimler-Benz and Chrysler Corp. on May 7, 1998, announced plans for what they dubbed a "merger of equals." The companies completed the deal in late 1998, forming DaimlerChrysler. The Germans ended up in control, but the merger didn't work.

    DaimlerChrysler on May 14, 2007, announced it would sell Chrysler Group to buyout firm Cerberus Capital Management. The sale closed in August 2007. Cerberus got an 80.1% stake; DaimlerChrysler kept 19.9%. DaimlerChrysler Oct. 4, 2007, renamed itself Daimler. (Daimler Feb. 1, 2022, changed its name to Mercedes-Benz Group.)

    Chrysler filed for Chapter 11 bankruptcy reorganization April 30, 2009, under a plan arranged and bankrolled by the U.S. government to hand control to Italy's Fiat. As part of Chrysler's bankruptcy restructuring, Daimler--under an agreement with Chrysler, Cerberus and the U.S. Pension Benefit Guaranty Corp.--gave up its 19.9% equity interest in Chrysler on June 3, 2009.

    Fiat on June 10, 2009, closed a deal to buy Chrysler's key assets, paving the way for Chrysler to emerge from a quick chapter in bankruptcy. Chrysler that day took a new corporate name, Chrysler Group LLC. Chrysler became a private company managed by Fiat, which took a minority ownership stake. Fiat over time added to its holding.

    Fiat became majority owner of Chrysler in 2011. Fiat in 2014 formed Fiat Chrysler Automobiles, or FCA, combining the companies after Fiat acquired 100% ownership of Chrysler Group.

    Fiat Chrysler Automobiles and French automaker PSA Group in January 2021 merged to form Stellantis.

    Stock:

    Two Chinese investors are major shareholders in Mercedes-Benz.

    Beijing Automotive Group Co. (Beijing Automotive Industry Corp., or BAIC), a long-time Mercedes-Benz partner, in December 2021 disclosed that it had held a 9.98% stake in Mercedes-Benz since 2019. Mercedes-Benz in December 2021 said: "According to an agreement between both parties, BAIC has confirmed to not further raise its stake."

    BAIC Group continued to own a 9.98% stake as of March 2023, according to Mercedes-Benz's website.

    Mercedes-Benz owns a 9.55% stake in BAIC's Hong Kong listed unit BAIC Motor Corp. (BAIC Motor). BAIC Motor is the passenger car division of BAIC, a major automotive company in China.

    Tenaciou3 Prospect Investment as of March 2023 owned a 9.69% stake in Mercedes-Benz, according to Mercedes-Benz's website. Tenaciou3 is controlled by Chinese investor Li Shufu, who also is founder and CEO of Zhejiang Geely Holding Group. Geely is a global automotive group based in China that controls auto brands including Geely Auto, Volvo Cars, Polestar, Proton and Lotus and has a 50/50 joint venture with Mercedes-Benz for the Smart electric car brand.

    https://group.mercedes-benz.com/en

Merck & Co.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Merck & Co. is a global marketer of prescription drugs, vaccines, therapies and animal health products.

    Merck is known as MSD (Merck Sharp & Dohme) outside the United States and Canada.

    New Jersey-based Merck is a separate company from Merck KGaA, a health care, life science and industrial materials marketer based in Germany.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of Merck's advertising and promotion spending.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Merck's stated worldwide "advertising and promotion" expenses.

    Deals and strategic moves:

    Organon & Co.:

    Merck in June 2021 spun off Organon & Co. as a public company. This came after Merck in February 2020 announced its intent to spin off products from its women's health, biosimilars and established brands businesses into a new, independent, publicly traded company named Organon.

    Organon disclosed worldwide pro forma sales of $6.6 billion in 2020, down from $7.8 billion in 2019 and $8.3 billion in 2018.

    Merck Consumer Care sale:

    Merck in October 2014 completed a deal to sell its Merck Consumer Care business to Germany's Bayer AG for $14.2 billion ($14.0 billion net of cash divested).

    Bayer acquired Merck's over-the-counter business, including the global trademark and prescription rights for Claritin and Afrin. As part of the deal, the two companies agreed to collaborate on developing some prescription drugs and therapies.

    Merck Consumer Care in 2013 had worldwide sales of $1.9 billion, accounting for 4.3% of Merck's total worldwide sales; the deal also included Claritin prescription drugs. In total, Bayer said, the acquired business had 2013 pro forma revenue of about $2.2 billion (about $1.5 billion from North America).

    Merck gained its over-the-counter portfolio in Merck's $41 billion acquisition of Schering-Plough, another major global pharmaceutical company, in November 2009.

    Before Merck announced its Bayer deal in May 2014, U.K.-based Reckitt Benckiser Group (now Reckitt) disclosed that Reckitt was "in discussions with Merck regarding an offer for its consumer health business. We understand that we are part of a competitive process"; Reckitt then disclosed, "RB now confirms that it is no longer in active discussion regarding an offer for Merck's consumer health business."

    Other deals and strategic moves:

    Merck in June 2023 bought Prometheus Biosciences, a clinical-stage biotechnology company based in San Diego, for a total equity value of about $10.8 billion.

    https://www.merck.com

Meta Platforms (Facebook)

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Meta Platforms, the parent company of Facebook, is the world's biggest social media company.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    The company made its Leading National Advertisers debut in the June 2019 ranking based on estimated 2018 ad spending.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the World's Largest Advertisers report and related database is the company's stated "advertising expense."

    The company made its World's Largest Advertisers debut in the December 2019 ranking based on 2018 ad spending.

    Deals and strategic moves:

    2023:

    Meta in July 2023 launched Threads, a social media platform. Threads competes with X (formerly Twitter).

    Selected acquisitions:

    2014:

    WhatsApp: Messaging app (October 2014; $17.2 billion).

    Oculus VR: Virtual reality technology (July 2014; $1.9 billion).

    2012:

    Instagram: Photo-sharing service (August 2012; $715 million).

    Management and employees:

    The company at year-end 2020 had 58,604 employees.

    Facebook had 3,200 employees at year-end 2011, shortly before it went public in 2012.

    Stock:

    The company completed its initial public offering in May 2012.

    The company changed its ticker symbol to MVRS from FB on Dec. 1, 2021, after Facebook Inc. changed its name to Meta Platforms.

    History:

    Facebook was incorporated in July 2004.

    The company on Oct. 28, 2021, changed its name to Meta Platforms Inc. from Facebook Inc.

    https://www.meta.com

Mondelez International

  • Marketer profile
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    Overview:

    Mondelez International is a food marketer based in Chicago.

    Business segments and operations:

    Kraft Foods Inc. on Oct. 1, 2012, spun off its North American grocery business as a separate public company, Kraft Foods Group. The remaining company, focused on global snacks, changed its name from Kraft Foods Inc. to Mondelez International. H.J. Heinz Holding Corp. in July 2015 bought Kraft Foods Group, forming Kraft Heinz Co.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is Mondelez International's stated worldwide "advertising expense."

    Mondelez disclosed 2022 worldwide advertising expense of $1.670 billion.

    Historic ad spending:

    Stated worldwide "advertising expense" for former Kraft Foods Inc. (including spending on what became Kraft Foods Group and Mondelez International):

    2011: $2.396 billion.

    2010: $2.270 billion.

    2009: $1.581 billion.

    2008: $1.598 billion.

    Stated worldwide "advertising expense" for Kraft Foods Group:

    2011: $535 million.

    2010: $540 million.

    2009: $477 million.

    Deals and strategic moves:

    Kraft Foods Inc. breakup:

    Kraft Foods Inc. announced its planned breakup in August 2011. The company in March 2012 unveiled Mondelez International as the name for the snacks business, which includes brands--Cadbury, Nabisco, Trident--that Kraft Foods Inc. had acquired in recent decades. The name, pronounced "mohn-dah-leez," is a mashup of terms to convey the idea of a "delicious world," the company said. "Monde" evokes the Latin word for "world"; "delez" is meant to convey "delicious."

    Paving the way for the breakup, Kraft Foods Inc. on June 26, 2012, moved its stock listing to the Nasdaq from the New York Stock Exchange. Kraft Foods Inc. kept the ticker KFT; that ticker was retired when the company split in two. The companies completed the breakup on Oct. 1, 2012.

    Mondelez International reported worldwide pro forma revenue of $35.810 billion in 2011.

    Kraft Foods Inc. reported actual 2011 worldwide revenue of $54.365 billion ($21.938 billion from the U.S.). That included worldwide revenue of $18.555 billion from Kraft Food Group. (Kraft Foods Group, though, said its pro forma 2011 revenue was $18.655 billion.)

    Kraft Heinz Co.:

    H.J. Heinz Co. (H.J. Heinz Holding Corp.) on July 2, 2015, bought Kraft Foods Group in a deal orchestrated by investment firm 3G Capital and Berkshire Hathaway. At the closing of the merger, H.J. Heinz Holding Corp. was renamed Kraft Heinz Co. In the deal, 3G Capital and Berkshire contributed $10 billion to pay a special dividend to existing Kraft shareholders. Heinz shareholders ended up with a 51% stake in the combined company; existing Kraft shareholders got 49%. Berkshire and 3G Capital became major shareholders in the merged company. Heinz and Kraft announced the deal in March 2015. The merged company trades on Nasdaq (ticker: KHC).

    Other deals and strategic moves:

    Gum business sale:

    Mondelez in December 2022 signed a deal to sell its developed-market gum business in the U.S., Canada and Europe to Perfetti Van Melle Group for $1.35 billion.

    The sale included gum brands Trident, Dentyne, Stimorol, Hollywood, V6, Chiclets, Bubbaloo and Bubblicious in the U.S., Canada and Europe as well as the European candy brands Cachou Lajaunie, Negro and La Vosgienne. Mondelez kept its gum business outside the U.S., Canada and Europe, led by Stride in China, as well as all of its other candy brands and products.

    Mondelez expected to complete the sale in fourth-quarter 2023.

    Perfetti Van Melle is a private European company that markets confectionery and chewing gum in more than 150 countries. Perfetti Van Melle's brands included Mentos, Chupa Chups, Alpenliebe, Frisk, Smint, Fruit-tella, Golia, Brooklyn, Happydent, Vivident, Daygum, Vigorsol, Big Babol and Airheads.

    Ricolino:

    Mondelez in November 2022 bought Ricolino, the Mexican confectionery business of Mexico-based food marketer Grupo Bimbo, for about $1.3 billion. Ricolino had annual sales of about $500 million with brands including Ricolino, Vero, La Corona and Coronado.

    Clif Bar:

    Mondelez in August 2022 bought privately held Clif Bar & Co. for $2.9 billion plus additional contingent earnout consideration. Emeryville, California-based Clif Bar marketed Clif, Luna and Clif Kid energy bars. In its June 2022 deal announcement, Mondelez said Clif Bar & Co. had sales of $800 million.

    Halls sale:

    The company in May 2022 announced its intent to divest the company's global Halls cough drop business and developed-market gum business. As noted above, Mondelez in 2023 sold the developed-market gum business to Perfetti Van Melle.

    Coffee:

    Mondelez and JAB Holding Co. in 2015 combined their coffee businesses into a new company, Jacobs Douwe Egberts. JAB in 2019 combined Jacobs Douwe Egberts with JAB-owned Peet's Coffee to form JDE Peet's, a global coffee and tea business. JDE Peet's went public on Euronext Amsterdam in May 2020; JAB remained the controlling shareholder.

    Mondelez as of April 2023 owned an 18.1% stake in JDE Peet's.

    Other deals:

    Mondelez in January 2022 bought Chipita, a marketer of croissants and baked snacks in Central and Eastern Europe, for a total purchase price of about $1.9 billion. Mondelez said Chipita had 2020 revenue of $580 million.

    Mondelez in April 2021 bought Gourmet Food Holdings, an Australian marketer of premium biscuits and crackers, for U.S. $343 million, net of cash received.

    Mondelez in March 2021 bought "a significant majority interest" in Grenade (Lion/Gemstone Topco), a U.K . marketer of high-protein bars, for $261 million, net of cash received.

    Mondelez in January 2021 bought the remaining 93% of equity in Hu Master Holdings, a U.S. marketer of premium chocolate. Initial cash consideration paid was $229 million, net of cash received. Mondelez may be required to pay additional cash consideration estimated at $132 million. Mondelez had owned a minority stake since 2019. The business was founded in 2012.

    Mondelez in April 2020 bought a majority stake in Give & Go (Give and Go Prepared Foods Corp.), a marketer of sweet baked goods and cookie and gingerbread house decorating kits, for $1.136 billion, net of cash received. Toronto-based Give & Go was founded in 1989 and had 2019 net revenue of about $500 million. Seller was buyout firm Thomas H. Lee Partners.

    Mondelez on July 16, 2019, bought a majority stake in Perfect Snacks, a California-based marketer of refrigerated nutrition bars, for $284 million, net of cash received. Perfect Snacks launched in 2005 and had 2018 net revenue of about $70 million. Mondelez said Perfect Snacks generated net revenue of $53 million from date of acquisition through year-end 2019.

    Mondelez on June 7, 2018, bought Tate's Bake Shop, a U.S. biscuit marketer, for $527 million. Mondelez said Tate's generated net revenue of $52 million from date of acquisition through year-end 2018.

    Mondelez in July 2017 sold most of its grocery business in Australia and New Zealand to Bega Cheese for U.S. $347 million.

    Mondelez in February 2015 bought Enjoy Life Foods, a U.S. snack food company, for $81 million.

    Mondelez in December 2013 sold its SnackWell's cookies and snacks business to Back to Nature Foods Co., a portfolio company of buyout firm Brynwood Partners. Back to Nature Foods was formed in 2012 as a joint venture of Brynwood and Mondelez (then known as Kraft Foods Inc.), which sold its Back to Nature food brand to the venture; Mondelez owns a minority stake in Back to Nature Foods. SnackWell's was launched in 1992 by Nabisco, which Kraft later acquired.

    Kraft Foods Inc. in September 2009 proposed a takeover of British candy firm Cadbury. After Cadbury rejected Kraft's overtures, Kraft in December 2009 made a formal takeover bid that Cadbury opposed. The two companies came to terms on a merger deal in early 2010, announcing a merger on Jan. 19, 2010. The firms said the combined company would rank No. 1 worldwide in chocolate and sugar confectionery sales and No. 2 (behind Mars' Wrigley) in chewing gum.

    Kraft Foods Inc. and Cadbury began operating as a combined company on Feb. 2, 2010, when Kraft acquired a majority equity stake in Cadbury. Kraft Foods Inc. paid $18.5 billion for Cadbury.

    Prior to striking its final deal with Cadbury, Kraft Foods Inc. in January 2010 agreed to sell its North American frozen-pizza business to Nestle for $3.7 billion. Kraft said its pizza business generated 2009 net revenue of $1.6 billion. The business includes brands such as DiGiorno, Tombstone, California Pizza Kitchen (trademark license), Jack's and Delissio (a Canadian brand). The deal closed March 1, 2010.

    Kraft Foods Inc. Aug. 4, 2008, split off its Post cereals business, which was merged into Ralcorp Holdings, a marketer of private-label cereal, after an exchange to Kraft shareholders. The Post business included such cereals as Honey Bunches of Oats, Pebbles, Shredded Wheat, Selects, Grape-Nuts and Honeycomb. Brands in the transaction were distributed primarily in North America.

    Ralcorp in February 2012 spun off Post Holdings, its branded cereal business, into a separate public company.

    ConAgra Foods in January 2013 acquired Ralcorp, which produced private-label food products for grocery, mass-merchandise and drugstore retailers; and frozen bakery products sold to in-store bakeries, restaurants and other food-service customers. ConAgra in early 2011 had made offers to buy Ralcorp that Ralcorp's board rejected. ConAgra in February 2016 sold the bulk of its private-label food business to TreeHouse Foods, a private-label food and beverage manufacturer, for about $2.7 billion cash, excluding transaction-related expenses. ConAgra Foods in November 2016 changed its name to Conagra Brands.

    Management and employees:

    Mondelez on July 27, 2017, hired Dirk Van de Put as CEO effective in November 2017, succeeding Chairman-CEO Irene Rosenfeld as CEO.

    Rosenfeld remained as chairman until March 31, 2018; Van de Put became chairman-CEO April 1, 2018.

    Van de Put, a Belgian, was president-CEO of Canada's McCain Foods before taking the Mondelez job. Van de Put earlier worked at Novartis, Danone, Coca-Cola Co. and Mars Inc.

    History:

    Post cereals formed an early pillar of what became Kraft Foods Inc.

    Charles William Post began marketing cereal in the 1890s. Postum Co. in 1929 changed its name to General Foods Corp. (after Postum bought Charles Birdseye's General Seafood Corp., a pioneering frozen-food marketer).

    Philip Morris Cos. bought General Foods in 1985 for $5.6 billion in what was then the largest non-oil acquisition in history. Philip Morris then bought Kraft in 1988 for $12.9 billion in, again the largest non-oil deal in history.

    Philip Morris in 1989 combined the units as Kraft General Foods, later shortened to Kraft. Philip Morris expanded its food business in 2000 by acquiring Nabisco Holdings (formerly part of RJR Nabisco).

    Philip Morris Cos., renamed Altria Group, staged an initial public offering for Kraft in 2001, selling a partial stake in a preamble to Kraft Foods Inc.'s formal spinoff in 2007.

    Kraft Foods Inc. gained full independence March 30, 2007, when Altria spun off its 88.9% Kraft stake to Altria shareholders. That ended a more than 20-year tie-up between tobacco and food.

    Kraft Foods Inc. on Oct. 1, 2012, spun off its North American grocery business as a separate public company, Kraft Foods Group. The remaining company, focused on global snacks, changed its name from Kraft Foods Inc. to Mondelez International.

    https://www.mondelezinternational.com

Nestle

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Nestle is a global food marketer based in Switzerland.

    Business segments and operations:

    Nestle had 31 brands with 2022 worldwide sales of more than 1 billion Swiss francs ($1.05 billion) at the retail level, according to the company's annual report.

    Sales and earnings:

    Nestle said e-commerce sales, powered by such brands as Nespresso, rose 9.2% in 2022.

    Nestle's stated e-commerce sales as a share of worldwide sales:

    2022: 15.8%

    2021: 14.3%

    2020: 12.8%

    2019: 8.5%

    2018: 7.4%

    2017: 6.2%

    2016: 4.9%

    2015: 3.9%

    2014: 3.4%

    2013: 3.3%

    2012: 2.9%

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Ad Age Datacenter estimates of Nestle's U.S. advertising and marketing expenses.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database for calendar 2022 are Nestle's stated worldwide advertising and marketing expenses converted to U.S. dollars at average exchange rates by Ad Age Datacenter. Figures shown for calendar 2021 are an Ad Age Datacenter estimate.

    Nestle began disclosing worldwide advertising and marketing expenses starting in 2023 (for calendar 2022).

    "Advertising and marketing expenses" are a subset of Nestle's "marketing and administration expenses." The main components of Nestle's advertising and marketing expenses are investments in media (digital and traditional), consumer activation expenses, advertising production costs and owned and earned channels expenses (for example, Nestle branded websites and consumer loyalty programs). Advertising and marketing expenses exclude rebates, discounts and payments to customers recorded as a reduction of sales.

    Nestle's stated worldwide advertising and marketing expenses:

    2022: $6.786 billion (6.474 billion Swiss francs)

    Nestle's stated worldwide digital media spending as a share of overall media spending:

    2022: 55%

    2021: 51%

    2020: 47%

    2019: 41%

    2018: Not available

    2017: 32%

    2016: 30%

    2015: 26%

    2014: 20%

    2013: 16%

    2012: 13%

    Deals and strategic moves:

    Bountiful Co.:

    Nestle in August 2021 bought core brands of Bountiful Co. from buyout firm KKR for $5.75 billion. The deal included Nature's Bounty, Solgar, Osteo Bi-Flex, Puritan's Pride, Ester-C and Sundown as well as the company's U.S. private label business. The brands became part of Nestle Health Science. Net sales of the acquired brands were $1.87 billion in the 12 months ended March 31, 2021. The acquisition excluded Bountiful's sports and active nutrition brands (Pure Protein, Body Fortress and MET-Rx) as well as Dr.Organic and the Canadian over-the-counter business, which Nestle said did not complement the Nestle Health Science portfolio.

    Nestle Waters sale (BlueTriton Brands):

    Nestle in March 2021 sold its regional spring water brands, purified water business and beverage delivery service in the U.S. and Canada to buyout firm One Rock Capital Partners in partnership with Metropoulos & Co. for $4.3 billion. The divested business, Nestle Waters North America, took the corporate name BlueTriton Brands.

    The sale included the following brands in the U.S. and Canada, which had 2019 sales of about 3.4 billion Swiss francs ($3.4 billion): Arrowhead, Deer Park, Ice Mountain, Ozarka, Poland Spring, Pure Life, Splash and Zephyrhills. It also included the U.S. direct-to-consumer and office beverage delivery service, ReadyRefresh.

    The deal excluded Nestle's international premium brands including Perrier, S.Pellegrino and Acqua Panna.

    The divestiture represented less than half of Nestle's 2019 global waters business sales of 7.8 billion Swiss francs ($7.9 billion).

    Nestle in June 2020 began to explore strategic options for the Nestle Waters business in North America (U.S. and Canada), excluding international brands.

    In announcing that review, Nestle said its board "concluded that its regional spring water brands, purified water business and beverage delivery service at its Nestle Waters North America unit lie outside" a new strategic direction for its Waters business.

    As part of the announcement, Nestle announced "a new strategic direction for its Waters business. The company will sharpen its focus on its iconic international brands, its leading premium mineral water brands, and invest in differentiated healthy hydration, such as functional water products. The board also confirmed its intent to explore strategic acquisitions to grow in this category, while pledging to make its entire global water portfolio carbon neutral and replenish associated watersheds by 2025."

    Freshly:

    Nestle in October 2020 bought Freshly, a New York-based fresh-prepared meal delivery subscription service. The deal valued Freshly at $950 million, with potential earnouts up to $550 million based on growth of the business. Freshly was founded in 2015. Nestle bought an approximately 16% stake in Freshly in 2017. Nestle said Freshly had 2020 forecasted sales of $430 million.

    U.S. ice cream sale:

    Nestle in January 2020 sold its U.S. ice cream business to Froneri, an ice cream joint venture that Nestle created in 2016 with PAI Partners, for a transaction value of $4 billion. Nestle said its U.S. ice cream business had 2018 turnover of $1.8 billion. The U.S. business included such brands as Haagen-Dazs, Drumstick and Outshine.

    Nestle and R&R, an ice cream company based in the U.K., in April 2016 formed Froneri, a joint venture that at the time had sales of about 2.7 billion Swiss francs ($2.73 billion) in more than 20 countries. U.K.-based Froneri operated primarily in Europe, the Middle East (excluding Israel), Argentina, Australia, Brazil, the Philippines and South Africa. The company combined Nestle and R&R's ice cream activities in the relevant countries and included Nestle's European frozen food business (excluding pizza and retail frozen food in Italy) as well as its chilled dairy business in the Philippines. Financial details are not being disclosed. R&R was owned by PAI Partners, a buyout firm. Nestle and R&R have worked together since the early 2000s, initially in the U.K. and Ireland.

    Nestle Skin Health sale:

    Nestle in October 2019 sold its Nestle Skin Health business to Sweden-based buyout firm EQT and the Abu Dhabi Investment Authority for 10.2 billion Swiss francs ($10.1 billion).

    Coinciding with completion of the deal, the new owners rebranded Nestle Skin Health as Galderma.

    Nestle in September 2018 had said it was exploring strategic options for Nestle Skin Health. Nestle Skin Health marketed a range of medical and consumer brands through three business units, including Epiduo and Soolantra in Prescription; Restylane and Azzalure in Aesthetics; and Cetaphil and Proactiv in Consumer Care.

    Nestle in May 2016 had purchased a 75% stake in Proactiv, an acne treatment business, from direct-marketing firm Guthy-Renker.

    Nestle Skin Health had net sales of 2.8 billion Swiss francs ($2.9 billion) in 2018.

    Background on Nestle Skin Health:

    L'Oreal and Nestle, another member of the Ad Age Leading National Advertisers and Ad Age World's Largest Advertises rankings, on July 8, 2014, completed a deal to reduce Nestle's minority equity stake in L'Oreal and unwind the companies' Galderma joint venture. With this transaction, L'Oreal bought back a portion of L'Oreal shares held by Nestle and transferred L'Oreal's 50% Galderma stake to Nestle. L'Oreal paid for the share buyback by giving Nestle 3.4 billion euros in cash plus the 50% interest in Galderma that L'Oreal said had an enterprise value of 3.1 billion euros.

    Nestle made Galderma the foundation of Nestle Skin Health, a Switzerland-based subsidiary created in February 2014 and focused on "specialized medical skin treatments."

    Nestle on July 10, 2014, expanded the Nestle Skin Health portfolio by acquiring from Canadian firm Valeant Pharmaceuticals International the rights to market five aesthetic dermatology products in the U.S. and Canada for $1.4 billion in cash. (In disclosing the deal, Nestle said those two countries together accounted for more than half of the worldwide medical aesthetics market.) Galderma already had rights to market four of the five products in countries outside the U.S. and Canada; with this deal, Nestle gained U.S. and Canadian rights for Restylane, Perlane and Emervel (products used for corrective facial aesthetic treatments such as filling wrinkles and making fuller lips) and Dysport (an aesthetic dermatology treatment). Nestle also gained full rights to Sculptra (a treatment for aesthetic and medical uses) in the U.S., Canada and many markets around the world. (Valeant in July 2018 changed its name to Bausch Health Cos.)

    Nestle in 2014 also moved Bubchen, Nestle's infant skin-care business, into Nestle Skin Health.

    Gerber Life sale:

    Nestle on Dec. 31, 2018, sold Gerber Life Insurance Co. to Cincinnati-based Western & Southern Financial Group for $1.55 billion cash.

    Gerber Life markets juvenile and family life insurance and had 2017 sales of $856 million. The deal allowed Western & Southern to market insurance products under the Gerber Life brand. The transaction did not include Nestle's Gerber Products business, a household brand in baby food and baby care.

    The deal followed Nestle's announcement in February 2018 that it was exploring strategic options for Gerber Life.

    Gerber Life had 2017 sales of $856 million.

    Starbucks global alliance:

    Nestle in August 2018 completed a "global coffee alliance" with Starbucks Corp. that gives Nestle perpetual rights to market Starbucks consumer and food service products globally, outside Starbucks coffee shops. The deal was announced in May 2018. Under the deal, Nestle has rights to market, sell and distribute packaged versions of Starbucks coffee and tea brands including Starbucks, Seattle's Best Coffee, Teavana, Starbucks Via Instant, Torrefazione Italia coffee and Starbucks-branded K-Cup pods. The deal excluded ready-to-drink products and all sales of any products within Starbucks coffee shops. Nestle paid Starbucks $7.15 billion for the rights. (Nestle in 2022 bought the Seattle's Best Coffee brand from Starbucks.)

    Other deals and strategic moves:

    Nestle Health Science in April 2022 bought a majority stake in Orgain, a marketer of plant-based nutrition products, from founder Andrew Abraham and Butterfly Equity. Abraham and Butterfly kept a minority stake. Nestle has an option to fully acquire Orgain in 2024. Irvine, California-based Orgain was founded in 2009.

    Nestle in 2021 bought Essentia, a U.S.-based premium functional water brand, and Nuun, a U.S.-based marketer of effervescent hydration tablets.

    Nestle in early 2021 sold the Waggin' Train brand assets to a newly formed company, Waggin' Pet Products. Nestle in September 2010 bought Waggin' Train, a U.S. dog snacks business. Nestle said Waggin' Train had sales of about $200 million in the 12 months ended June 2010. The Waggin' Train snacks business became a subsidiary of Nestle Purina PetCare Co. Nestle in January 2013 pulled Waggin' Train's dog snacks from the U.S. market in January 2013 amid negative publicity and questions about product safety; Nestle said the products were safe. The company in 2014 relaunched the brand.

    Nestle in late 2020 sold its Yinlu peanut milk and canned rice porridge businesses in China to Food Wise Co., a company controlled by the family of Yinlu founder Chen Qingshui. Yinlu brands had 2019 sales of 700 million Swiss francs ($705 million). Nestle didn't disclose the sale price. Nestle in November 2011 bought 60% of Yinlu Foods Group for about $1.3 billion.

    Nestle Health Science in October 2020 bought Aimmune Therapeutics, a California-based biopharmaceutical company developing treatments for potentially life-threatening food allergies such as peanut allergies. Nestle had held a minority stake (26%) in Aimmune since 2016. The acquisition implied a total enterprise value for Aimmune of about $2.6 billion (including the stake Nestle already owned).

    Nestle Health Science in summer 2020 bought a 70% stake in Vital Proteins, a collagen brand and a lifestyle and wellness business that sells supplements, beverages and food products. Chicago-based Vital Proteins will continue to operate as a standalone business.

    Nestle in June 2020 sold the North American portion of its Buitoni pasta business to Brynwood Partners, marking Nestle's latest sale to that buyout firm. (See earlier sales, below.)

    Nestle in May 2020 acquired Zenpep from Allergan. Zenpep is a gastrointestinal medication marketed in the U.S. In announcing the deal, Nestle said: "This move aims to expand the company's medical nutrition business and complement its portfolio of therapeutic products." Zenpep had 2018 net sales of $237 million. Allergan sold Zenpep as part of the regulatory approval process for AbbVie's acquisition of Allergan.

    Nestle in August 2019 bought Persona, a personalized vitamin business started in 2017 and based in Snoqualmie, Washington. Persona sells vitamins and supplements through its website. Following the acquisition, Persona operated under Nestle Health Science's Atrium Innovations. (Nestle bought Atrium in 2018.)

    Nestle in April 2018 bought a majority stake in Tails.com, a direct marketer of dog food based in the U.K. Tails.com markets personalized dog good based on a nutritional algorithm developed by vets, nutritionists and software engineers. It provided food for more than 100,000 dogs in the U.K. at the time of acquisition. Tails.com launched in 2014.

    Nestle in late March 2018 sold its U.S. confectionery business to Italian food marketer Ferrero for $2.8 billion. Ferrero was founded in 1946 and entered the U.S. market in 1969 with Tic Tac breath mints. Ferrero also markets Ferrero Rocher pralines and Nutella hazelnut spread. Before doing the Nestle deal, Ferrero made other U.S. acquisitions including chocolate marketer Fannie May Confections Brands (Fannie May, Harry London) and, in 2017, Ferrara Candy Co. (Trolli, Brach's and Black Forest).

    Nestle in June 2017 had said it would "explore strategic options for its U.S. confectionery business, including a potential sale. The review covers the U.S. market only and is expected to be completed by the end of this year."

    Nestle said its U.S. confectionery business had sales of around 900 million Swiss francs ($914 million) in 2016, mainly from U.S. brands including Butterfinger, BabyRuth, 100Grand, SkinnyCow, Raisinets, Chunky, OhHenry!, SnoCaps, SweeTarts, LaffyTaffy, Nerds, FunDip, PixyStix, Gobstopper, BottleCaps, Spree and Runts. The business also includes U.S. sales of international chocolate brand Crunch. The strategic review excluded Nestle's Toll House baking products.

    In announcing the strategic review, the company said: "Nestle remains fully committed to growing its leading international confectionery activities around the world, particularly its global brand KitKat." Nestle's 2016 global confectionery sales were about 8.8 billion Swiss francs ($8.9 billion). (Hershey Co. markets KitKat in the U.S.)

    Nestle in early March 2018 bought Atrium Innovations, a marketer of nutritional health products, from an investor group led by buyout firm Permira, for $2.3 billion. Atrium's products include probiotics, planted-based protein nutrition, meal replacements and multivitamins. In its deal announcement, Nestle said Atrium had annual sales of about $700 million in the U.S., Canada and Europe. Atrium, founded in 1999 and based in Quebec, Canada, is part of Nestle Health Science. Atrium's biggest brand at the time of acquisition was Garden of Life, which Atrium bought in 2009.

    Nestle in February 2018 bought a majority stake in Terrafertil, a company selling natural, organic, plant-based foods and healthy snacks. Terrafertil's flagship brand was Nature's Heart. Terrafertil was founded in 2005 in Ecuador and then expanded into Mexico, Colombia, Peru, Chile and the United Kingdom. Terrafertil entered the U.S. in 2017 with the purchase of Essential Living Foods. At the time of the Nestle deal, Terrafertil employed 400 people and had four factories in Ecuador, Mexico, Colombia and Chile.

    Nestle in November 2017 bought a 67.9% stake in Blue Bottle Coffee, a specialty coffee roaster and retailer based in Oakland, California. In its announcement of the deal, Nestle said: "Blue Bottle Coffee will continue to operate as a stand-alone entity, while having full access to Nestle's well-recognised capabilities in coffee and its strong global consumer reach."

    Also in November 2017, Nestle bought 100% of Chameleon Cold-Brew, a marketer of cold brew coffee founded in Austin, Texas, in 2010. Chameleon marketed coffee in various formats including ready-to-drink cold brew, cold brew concentrate, kegs, cold brew kits and whole bean coffee.

    Nestle in November 2015 sold Davigel, a France-based provider of branded frozen and chilled food products and ice-cream for European restaurants, schools and other institutions.

    Nestle's Nestle Purina PetCare in September 2015 completed a deal to buy Merrick Pet Care, a pet-food marketer based in Texas, from Swander Pace Capital and other investors including founder Garth Merrick, Monitor Clipper Partners and Highland Consumer Partners. Merrick's brands at the time of the acquisition included Merrick, Castor & Pollux Organix, Ultramix, Good Buddy and Whole Earth Farm. Price tag wasn't disclosed. Swander Pace bought the company in 2010. Merrick launched in 1988.

    Stock:

    Nestle is a long-time investor in and the second-largest shareholder in personal care marketer L'Oreal. Nestle owned a 20.11% stake in L'Oreal as of February 2023, according to L'Oreal's annual filing.

    History:

    Nestle was founded in 1866 by Henri Nestle.

    https://www.nestle.com

Netflix

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Netflix is a subscription streaming entertainment service. The company is based in the Silicon Valley city of Los Gatos, California.

    Netflix discussed its business in its 10-K filing for year ended December 2022:

    "Netflix Inc. is one of the world's leading entertainment services with approximately 231 million paid memberships in over 190 countries enjoying TV series, films and games across a wide variety of genres and languages. Members can play, pause and resume to watch as much as they want, anytime, anywhere, and can change their plans at any time."

    Netflix in November 2022 introduced an advertising-supported lower-priced streaming plan, Basic with Ads, in the U.S. and 11 other countries. In connection with that move, the company in July 2022 selected Microsoft Corp. as its global advertising technology and sales partner.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Ad Age Datacenter's estimate of Netflix U.S. marketing expenses.

    Ad Age Datacenter changed its spending model for Netflix estimated U.S. marketing expenses effective with the June 2023 Leading National Advertisers report.

    Netflix stopped breaking out domestic streaming marketing expenses effective with its 10-K for year ended December 2020.

    Netflix previously reported domestic streaming marketing expenses of:

    2019: $1.063 billion

    2018: $1.025 billion

    2017: $603.7 million (restated)

    2016: $412.9 million (restated)

    2015: $317.6 million

    2014: $293.5 million

    The company's 10-K for year ended December 2018 said: "Domestic marketing expenses increased primarily due to an increase in advertising, driven by increased investments in marketing of new original titles. The increase in marketing expenses is also attributable to increased public relations spending and payments to our partners."

    The company's 10-K for year ended December 2017 said: "Domestic marketing expenses increased primarily due to an increase in advertising and public relations spending as well as increased payments to our partners. In 2018, we expect marketing spending growth to outpace revenue growth."

    The 10-K for year ended December 2016 said: "Domestic marketing expenses [in 2016] increased primarily due to an increase in advertising and public relations spending as well as increased payments to our partners." That 10-K also said: "Domestic marketing expenses [in 2015] increased primarily due to an increase in advertising and public relations spending."

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Netflix's stated worldwide marketing expenses.

    Marketing expenses consist primarily of advertising expenses and certain payments made to the company's partners, including consumer electronics manufacturers, multichannel video programming distributors, mobile operators and internet service providers.

    Advertising expenses include promotional activities such as digital and TV advertising.

    Netflix disclosed worldwide "advertising expenses" (also called "advertising costs") of $1.586 billion in 2022. That's a subset (62.7%) of 2022 worldwide marketing expenses.

    Netflix reported worldwide marketing expenses of:

    2022: $2.530 billion

    2021: $2.545 billion

    2020: $2.228 billion

    2019:$2.652 billion

    2018: $2.369 billion

    2017: $1.436 billion (restated)

    2016: $1.098 billion (restated)

    2015: $824.1 million

    2014: $607.2 million

    In its 10-K for year ended December 2022, Netflix said:

    "Marketing expenses for the year ended December 31, 2022 as compared to the year ended December 31, 2021 remained relatively flat."

    In its 10-K for year ended December 2021, Netflix said:

    "The increase in marketing expenses for the year ended December 31, 2021 as compared to the year ended December 31, 2020 was primarily due to a $222 million increase in advertising expenses, partially offset by increased payments to our marketing partners. In addition, personnel-related costs increased $116 million, primarily due to growth in average headcount to support the increase in our production activity and continued improvements in our streaming service."

    In its 10-K for year ended December 2020, Netflix said:

    "The decrease in marketing expenses for the year ended December 31, 2020 as compared to the year ended December 31, 2019 was primarily due to a $432 million decrease in advertising expenses, partially offset by increased payments to our marketing partners."

    In its 10-K for year ended December 2019, Netflix said:

    "The increase in marketing expenses for the year ended December 31, 2019 as compared to the year ended December 31, 2018 was primarily due to a $139 million increase in personnel-related expenses, including increases in compensation for existing employees and growth in average headcount, as well as increased advertising and payments to our marketing partners."

    In its 10-K for year ended December 2018, Netflix said:

    "For the Domestic and International streaming segments, marketing expenses consist primarily of advertising expenses and certain payments made to our marketing partners, including consumer electronics manufacturers, MVPDs, mobile operators and ISPs. Advertising expenses include promotional activities such as digital and television advertising. Marketing expenses also include payroll and related expenses for personnel that support the Company's marketing activities. Marketing expenses are incurred by our Domestic and International streaming segments in order to build consumer awareness of the streaming offerings, and in particular our original content."

    The 10-K said:

    "International marketing expenses increased primarily due to increased advertising, driven by increased investments in marketing of new original titles. The increase in marketing expenses is also attributable to increased payments to our partners."

    In its 10-K for year ended December 2017, Netflix said:

    "Marketing expenses consist primarily of advertising expenses and certain payments made to our marketing partners, including consumer electronics manufacturers, MVPD's, mobile operators and ISP's. Advertising expenses include promotional activities such as digital and television advertising. Marketing expenses are incurred by our Domestic and International streaming segments given our focus on building consumer awareness of the streaming offerings, and in particular our original content."

    The 10-K said:

    "International marketing expenses [in 2017] increased mainly due to increased advertising and public relations as well as increased payments to our partners."

    The 10-K for year ended December 2016 said:

    "International marketing expenses [in 2016] increased mainly due to expenses for territories launched in the last eighteen months." And: "International marketing expenses for the year ended December 31, 2015, increased as compared to the year ended December 31, 2014, mainly due to expenses for territories launched in the last eighteen months."

    In its 10-Ks for years ended December 2015 and December 2014, Netflix said:

    "Marketing expenses consist primarily of advertising expenses and also include payments made to the company's affiliates and consumer electronics partners. Advertising expenses include promotional activities such as digital and television advertising."

    Stock:

    Netflix completed its initial public offering in May 2002.

    History:

    Netflix was incorporated in 1997 and initially focused on DVD rentals by mail.

    The company began its shift from DVDs in 2007 when it introduced an "instant-watching feature" to let subscribers view movies on a PC, starting in 2007, and on TVs, starting in 2008. Netflix by 2011 was generating more revenue from streaming than from DVDs.

    Netflix ended its DVD rental service in 2023, mailing its final DVDs on Sept. 29, 2023.

    https://www.netflix.com

Nike

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Nike is an athletic shoe and apparel marketer based in Oregon. It is truly a marketer, not a shoemaker; Nike farms out manufacturing for virtually all products to other companies.

    Business segments and operations:

    Brands include Nike, Jordan and Converse.

    Largest customers:

    Nike said its three largest U.S. customers accounted for about 22% of U.S. sales in the years ended May 2023 and May 2022; 24% in years ended May 2021, May 2020 and May 2019; 21% in year ended May 2018; 23% in year ended May 2017; 25% in year ended May 2016; 26% in years ended May 2015 and May 2014; 25% in year ended May 2013; 24% in year ended May 2012; and 23% in year ended May 2011.

    The company said its three largest customers outside of the U.S. accounted for about 14% of total non-U.S. sales in the years ended May 2023 and May 2022; 15% in years ended May 2021 and May 2020; 14% in year ended May 2019; 13% in year ended May 2018; 12% in year ended May 2017; 13% of total non-U.S. sales in year ended May 2016; 12% in year ended May 2015; 6% in years ended May 2014 and May 2013; 11% in year ended May 2012; and 9% in year ended May 2011.

    Nike said no customer accounted for 10% or more of worldwide net revenue in the fiscal years ended May 2011 through May 2023.

    In its 10-K for year ended May 2010, Nike said Foot Locker, its largest customer, accounted for 8% of worldwide revenue in the year ended May 2010; vs. 9% in the years ended May 2009 and May 2008.

    Foot Locker said it purchased about 65% of its merchandise from Nike in the year ended January 2023; 68% in year ended January 2022; 75% in year ended January 2021; 71% in year ended February 2020; 66% in year ended February 2019; 67% in year ended February 2018; 68% in year ended January 2017; 72% in year ended January 2016; 73% in year ended January 2015; 68% in year ended January 2014; 65% in year ended February 2013; 61% in year ended January 2012; 63% in year ended January 2011; and 68% in year ended January 2010.

    Manufacturing:

    Nike's 10-K for year ended May 2023 said this regarding production:

    "Nearly all of our footwear and apparel products are manufactured outside the United States by independent manufacturers (contract manufacturers), many of which operate multiple factories. We are also supplied, primarily indirectly, by a number of materials, or 'Tier 2', suppliers, who provide the principal materials used in footwear and apparel finished goods products. As of May 31, 2023, we had 146 strategic Tier 2 suppliers.

    "As of May 31, 2023, our contract manufacturers operated 123 finished goods footwear factories located in 11 countries. For fiscal 2023, Nike Brand footwear finished goods were manufactured by 15 contract manufacturers, many of which operate multiple factories. The largest single finished goods footwear factory accounted for approximately 9% of total fiscal 2023 Nike Brand footwear production. For fiscal 2023, factories in Vietnam, Indonesia and China manufactured approximately 50%, 27% and 18% of total Nike Brand footwear, respectively. For fiscal 2023, four footwear contract manufacturers each accounted for greater than 10% of footwear production and in the aggregate accounted for approximately 58% of Nike Brand footwear production.

    "As of May 31, 2023, our contract manufacturers operated 291 finished goods apparel factories located in 31 countries. For fiscal 2023, Nike Brand apparel finished goods were manufactured by 55 contract manufacturers, many of which operate multiple factories. The largest single finished goods apparel factory accounted for approximately 8% of total fiscal 2023 Nike Brand apparel production. For fiscal 2023, factories in Vietnam, China and Cambodia manufactured approximately 29%, 18% and 16% of total Nike Brand apparel, respectively. For fiscal 2023, one apparel contract manufacturer accounted for more than 10% of apparel production, and the top five contract manufacturers in the aggregate accounted for approximately 52% of Nike Brand apparel production."

    Nike's 10-K for year ended May 2022 said this regarding production:

    "Virtually all of our footwear and apparel products are manufactured outside the United States by independent manufacturers with whom we contract and refer to as 'contract manufacturers.' Many of these contract manufacturers operate multiple finished goods contract factories. We are also supplied, primarily indirectly, by a number of materials, or 'Tier 2,' suppliers, who provide the principal materials used in footwear and apparel finished goods products. As of May 31, 2022, we had 139 strategic Tier 2 suppliers.

    "As of May 31, 2022, we were supplied by 120 finished goods footwear contract factories located in 11 countries. For fiscal 2022, contract factories in Vietnam, Indonesia and China manufactured approximately 44%, 30% and 20% of total Nike Brand footwear, respectively. The largest single footwear contract factory accounted for approximately 8% of total fiscal 2022 Nike Brand footwear production. For fiscal 2022, four footwear contract manufacturers each accounted for greater than 10% of footwear production and in the aggregate accounted for approximately 58% of Nike Brand footwear production.

    "As of May 31, 2022, we were supplied by 279 finished goods apparel contract factories located in 33 countries. For fiscal 2022, contract factories in Vietnam, China and Cambodia manufactured approximately 26%, 20% and 16% of total Nike Brand apparel, respectively. The largest single apparel contract factory accounted for approximately 10% of total fiscal 2022 Nike Brand apparel production. For fiscal 2022, two apparel contract manufacturers each accounted for more than 10% of apparel production, and the top five contract manufacturers in the aggregate accounted for approximately 54% of Nike Brand apparel production. Nike's contract manufacturers buy raw materials for the manufacturing of our footwear, apparel and equipment products. Most raw materials are available and purchased by those contract manufacturers in the countries where manufacturing takes place."

    Nike's 10-K for year ended May 2021 said this regarding production:

    "We are supplied by 191 footwear factories located in 14 countries. Virtually all of our footwear is manufactured outside of the United States by over 15 independent contract manufacturers, which often operate multiple factories. The largest single footwear factory accounted for approximately 9% of total fiscal 2021 Nike Brand footwear production. For fiscal 2021, contract factories in Vietnam, Indonesia and China manufactured approximately 51%, 24% and 21% of total Nike Brand footwear, respectively. We also have manufacturing agreements with independent contract manufacturers in Argentina and India to manufacture footwear for sale primarily within those countries. For fiscal 2021, four footwear contract manufacturers each accounted for greater than 10% of footwear production and in the aggregate accounted for approximately 61% of Nike Brand footwear production.

    "We are supplied by 344 apparel factories located in 33 countries. The largest single apparel factory accounted for approximately 8% of total fiscal 2021 Nike Brand apparel production. Virtually all of our apparel is manufactured outside of the United States by independent contract manufacturers, which often operate multiple factories. For fiscal 2021, contract factories in Vietnam, China and Cambodia produced approximately 30%, 19% and 12% of total Nike Brand apparel, respectively. For fiscal 2021, two apparel contract manufacturers each accounted for more than 10% of apparel production, and the top five contract manufacturers in the aggregate accounted for approximately 51% of Nike Brand apparel production."

    Nike's 10-K for year ended May 2020 said this regarding production:

    "We are supplied by 122 footwear factories located in 12 countries. Virtually all of our footwear is manufactured outside of the United States by over 15 independent contract manufacturers, which often operate multiple factories. The largest single footwear factory accounted for approximately 9% of total fiscal 2020 Nike Brand footwear production. For fiscal 2020, contract factories in Vietnam, Indonesia and China manufactured approximately 50%, 24%and 22% of total Nike Brand footwear, respectively. We also have manufacturing agreements with independent contract manufacturers in Argentina and India to manufacture footwear for sale primarily within those countries. For fiscal 2020, four footwear contract manufacturers each accounted for greater than 10% of footwear production and in the aggregate accounted for approximately 61% of Nike Brand footwear production.

    "We are supplied by 329 apparel factories located in 38 countries. The largest single apparel factory accounted for approximately 11% of total fiscal 2020 Nike Brand apparel production. Virtually all of our apparel is manufactured outside of the United States by independent contract manufacturers which often operate multiple factories. For fiscal 2020, contract factories in Vietnam, China and Cambodia produced approximately 28%, 23% and 12% of total Nike Brand apparel, respectively. For fiscal 2020, two apparel contract manufacturers accounted for more than 10% of apparel production, and the top five contract manufacturers in the aggregate accounted for approximately 48% of Nike Brand apparel production."

    Nike's 10-K for year ended May 2019 said this regarding production:

    "We are supplied by 112 footwear factories located in 12 countries. The largest single footwear factory accounted for approximately 9% of total fiscal 2019 Nike Brand footwear production. Virtually all of our footwear is manufactured outside of the United States by independent contract manufacturers which often operate multiple factories. For fiscal 2019, contract factories in Vietnam, China and Indonesia manufactured approximately 49%, 23% and 21% of total Nike Brand footwear, respectively. We also have manufacturing agreements with independent contract manufacturers in Argentina and India to manufacture footwear for sale primarily within those countries. For fiscal 2019, four footwear contract manufacturers each accounted for greater than 10% of footwear production and in the aggregate accounted for approximately 61% of Nike Brand footwear production.

    "We are supplied by 334 apparel factories located in 36 countries. The largest single apparel factory accounted for approximately 14% of total fiscal 2019 Nike Brand apparel production. Virtually all of our apparel is manufactured outside of the United States by independent contract manufacturers which often operate multiple factories. For fiscal 2019, contract factories in China, Vietnam and Thailand produced approximately 27%, 22% and 10% of total Nike Brand apparel, respectively. For fiscal 2019, one apparel contract manufacturer accounted for more than 10% of apparel production, and the top five contract manufacturers in the aggregate accounted for approximately 49% of Nike Brand apparel production."

    Nike's 10-K for year ended May 2018 said this regarding production:

    "We are supplied by 124 footwear factories located in 13 countries. The largest single footwear factory accounted for approximately 9% of total fiscal 2018 Nike Brand footwear production. Virtually all of our footwear is manufactured outside of the United States by independent contract manufacturers which often operate multiple factories. For fiscal 2018, contract factories in Vietnam, China and Indonesia manufactured approximately 47%, 26% and 21% of total Nike Brand footwear, respectively. We also have manufacturing agreements with independent contract manufacturers in Argentina, India, Brazil, Mexico and Italy to manufacture footwear for sale primarily within those countries. For fiscal 2018, five footwear contract manufacturers each accounted for greater than 10% of footwear production and in the aggregate accounted for approximately 69% of Nike Brand footwear production.

    "We are supplied by 328 apparel factories located in 37 countries. The largest single apparel factory accounted for approximately 13% of total fiscal 2018 Nike Brand apparel production. Virtually all of our apparel is manufactured outside of the United States by independent contract manufacturers which often operate multiple factories. For fiscal 2018, contract factories in China, Vietnam and Thailand produced approximately 26%, 18% and 10% of total Nike Brand apparel, respectively. For fiscal 2018, one apparel contract manufacturer accounted for more than 10% of apparel production, and the top five contract manufacturers in the aggregate accounted for approximately 47% of Nike Brand apparel production."

    Nike's 10-K for year ended May 2017 said this regarding production:

    "We are supplied by approximately 127 footwear factories located in 15 countries. The largest single footwear factory accounted for approximately 8% of total fiscal 2017 Nike Brand footwear production. Virtually all of our footwear is manufactured outside of the United States by independent contract manufacturers who often operate multiple factories. For fiscal 2017, contract factories in Vietnam, China and Indonesia manufactured approximately 46%, 27% and 21% of total Nike Brand footwear, respectively. We also have manufacturing agreements with independent contract manufacturers in Argentina, India, Brazil, Mexico and Italy to manufacture footwear for sale primarily within those countries. For fiscal 2017, five footwear contract manufacturers each accounted for greater than 10% of footwear production and in the aggregate accounted for approximately 69% of Nike Brand footwear production.

    "We are supplied by approximately 363 apparel factories located in 37 countries. The largest single apparel factory accounted for approximately 13% of total fiscal 2017 Nike Brand apparel production. Virtually all of our apparel is manufactured outside of the United States by independent contract manufacturers which often operate multiple factories. For fiscal 2017, contract factories in China, Vietnam and Thailand produced approximately 26%, 16% and 10% of total Nike Brand apparel, respectively. For fiscal 2017, one apparel contract manufacturer accounted for more than 10% of apparel production, and the top five contract manufacturers in the aggregate accounted for approximately 43% of Nike Brand apparel production."

    Nike's 10-K for year ended May 2016 said this regarding production:

    "We are supplied by approximately 142 footwear factories located in 15 countries. The largest single footwear factory accounted for approximately 7% of total fiscal 2016 Nike Brand footwear production. Virtually all of our footwear is manufactured outside of the United States by independent contract manufacturers who often operate multiple factories. In fiscal 2016, contract factories in Vietnam, China and Indonesia manufactured approximately 44%, 29% and 21% of total Nike Brand footwear, respectively. We also have manufacturing agreements with independent factories in Argentina, India, Brazil and Mexico to manufacture footwear for sale primarily within those countries. In fiscal 2016, five footwear contract manufacturers each accounted for greater than 10% of footwear production and in aggregate accounted for approximately 69% of Nike Brand footwear production.

    "We are supplied by approximately 394 apparel factories located in 39 countries. The largest single apparel factory accounted for approximately 12% of total fiscal 2016 Nike Brand apparel production. Virtually all of our apparel is manufactured outside of the United States by independent contract manufacturers which often operate multiple factories. In fiscal 2016, contract factories in China, Vietnam and Indonesia produced approximately 26%, 23% and 9% of total Nike Brand apparel, respectively. In fiscal 2016, one apparel contract manufacturer accounted for more than 10% of apparel production, and the top five contract manufacturers in aggregate accounted for approximately 39% of Nike Brand apparel production."

    Nike's 10-K for year ended May 2015 said this regarding production:

    "We are supplied by approximately 146 footwear factories located in 14 countries. The largest single footwear factory accounted for approximately 7% of total fiscal 2015 Nike Brand footwear production. Virtually all of our footwear is manufactured outside of the United States by independent contract manufacturers who often operate multiple factories. In fiscal 2015, contract factories in Vietnam, China and Indonesia manufactured approximately 43%, 32% and 20% of total Nike Brand footwear, respectively. We also have manufacturing agreements with independent factories in Argentina, Brazil, India and Mexico to manufacture footwear for sale primarily within those countries. In fiscal 2015, five footwear contract manufacturers each accounted for greater than 10% of footwear production, and in aggregate accounted for approximately 69% of Nike Brand footwear production.

    "We are supplied by approximately 408 apparel factories located in 39 countries. The largest single apparel factory accounted for approximately 11% of total fiscal 2015 Nike Brand apparel production. Virtually all of our apparel is manufactured outside of the United States by independent contract manufacturers which often operate multiple factories. In fiscal 2015, most of this apparel production occurred in China, Vietnam, Sri Lanka, Thailand, Indonesia, Malaysia and Cambodia. In fiscal 2015, one apparel contract manufacturer accounted for more than 10% of apparel production, and the top five contract manufacturers in aggregate accounted for approximately 36% of Nike Brand apparel production."

    Nike's 10-K for year ended May 2014 said this regarding production:

    "We are supplied by approximately 150 footwear factories located in 14 countries. The largest single footwear factory accounted for approximately 5% of total fiscal 2014 Nike Brand footwear production. Virtually all of our footwear is manufactured outside of the United States by independent contract manufacturers who often operate multiple factories. In fiscal 2014, contract factories in Vietnam, China, and Indonesia manufactured approximately 43%, 28%, and 25% of total Nike Brand footwear, respectively. We also have manufacturing agreements with independent factories in Argentina, Brazil, India, and Mexico to manufacture footwear for sale primarily within those countries. In fiscal 2014, five footwear contract manufacturers each accounted for greater than 10% of fiscal 2014 footwear production, and in aggregate accounted for approximately 67% of Nike Brand footwear production in fiscal 2014.

    "We are supplied by approximately 430 apparel factories located in 41 countries. The largest single apparel factory accounted for approximately 7% of total fiscal 2014 Nike Brand apparel production. Virtually all of our apparel is manufactured outside of the United States by independent contract manufacturers who often operate multiple factories. In fiscal 2014, most of this apparel production occurred in China, Vietnam, Thailand, Indonesia, Sri Lanka, Pakistan, and Malaysia. In fiscal 2014, one apparel contract manufacturer accounted for greater than 10% of fiscal 2014 apparel production, and the top five contract manufacturers in aggregate accounted for approximately 34% of Nike Brand apparel production in fiscal 2014."

    Nike's 10-K for year ended May 2013 said this regarding production:

    "Virtually all of our footwear is manufactured outside of the United States by independent contract manufacturers. In fiscal 2013, contract factories in Vietnam, China and Indonesia manufactured approximately 42%, 30%, and 26% of total Nike Brand footwear, respectively. We also have manufacturing agreements with independent factories in Argentina, Brazil, India, and Mexico to manufacture footwear for sale primarily within those countries. The largest single footwear factory with which we have contracted accounted for approximately 6% of total fiscal 2013 Nike Brand footwear production.

    "Almost all of Nike Brand apparel is manufactured outside of the United States by independent contract manufacturers located in 28 countries. Most of this apparel production occurred in China, Vietnam, Thailand, Indonesia, Sri Lanka, Pakistan, Malaysia, Turkey, Mexico, and Cambodia. The largest single apparel factory that we have contracted with accounted for approximately 6% of total fiscal 2013 apparel production."

    Nike's 10-K for year ended May 2012 said this regarding production:

    "Virtually all of our footwear is produced by factories we contract with outside of the United States. In fiscal 2012, contract factories in Vietnam, China and Indonesia, manufactured approximately 41%, 32% and 25% of total Nike Brand footwear, respectively. We also have manufacturing agreements with independent factories in Argentina, Brazil, India, and Mexico to manufacture footwear for sale primarily within those countries. The largest single footwear factory that we have contracted with accounted for approximately 5% of total fiscal 2012 Nike Brand footwear production.

    "Almost all of Nike Brand apparel is manufactured outside of the United States by independent contract manufacturers located in 28 countries. Most of this apparel production occurred in China, Vietnam, Thailand, Sri Lanka, Malaysia, Indonesia, Turkey, Cambodia, Mexico, and El Salvador. The largest single apparel factory that we have contracted with accounted for approximately 8% of total fiscal 2012 apparel production."

    Nike's 10-K for year ended May 2011 said this regarding production:

    "Virtually all of our footwear is produced by factories we contract with outside of the United States. In fiscal 2011, contract factories in Vietnam, China, Indonesia, and India manufactured approximately 39%, 33%, 24% and 2% of total Nike Brand footwear, respectively. We also have manufacturing agreements with independent factories in Argentina, Brazil, India, and Mexico to manufacture footwear for sale primarily within those countries.

    "Almost all of Nike Brand apparel is manufactured outside of the United States by independent contract manufacturers located in 33 countries. Most of this apparel production occurred in China, Thailand, Vietnam, Malaysia, Sri Lanka, Indonesia, Turkey, Cambodia, El Salvador, and Mexico."

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is Ad Age Datacenter's U.S. ad spending estimate for Nike excluding estimated cooperative ad spending; Ad Age includes co-op ad money in retailers' ad-spending estimates.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is Nike's stated worldwide "demand creation expense" (also known as "advertising and promotion costs").

    Nike reported demand creation expense of $4.06 billion (7.9% of revenue) in year ended May 2023 (fiscal 2023).

    In its 10-K for year ended May 2023 (fiscal 2023), Nike said this about demand creation expense:

    "Demand creation expense increased 5% for fiscal 2023, primarily due to higher advertising and marketing expense and higher sports marketing expense. Changes in foreign currency exchange rates decreased demand creation expense by approximately 4 percentage points."

    The 10-K for year ended May 2023 also said:

    "Demand creation expense consists of advertising and promotion costs, including costs of endorsement contracts, complimentary products, television, digital and print advertising as well as media costs, brand events and retail brand presentation. Advertising production costs are expensed the first time an advertisement is run. Advertising media costs are expensed when the advertisement appears. Costs related to brand events are expensed when the event occurs. Costs related to retail brand presentation are expensed when the presentation is complete and delivered.

    "A significant amount of the company's promotional expenses result from payments under endorsement contracts. In general, endorsement payments are expensed on a straight-line basis over the term of the contract. However, certain contracts contain elements that may be accounted for differently based upon the facts and circumstances of each individual contract. Prepayments made under contracts are included in prepaid expenses and other current assets or deferred income taxes and other assets depending on the period to which the prepayment applies.

    "Certain contracts provide for contingent payments to endorsers based upon specific achievements in their sport (e.g., winning a championship). The company records demand creation expense for these amounts when the endorser achieves the specific goal.

    "Certain contracts provide for variable payments based upon endorsers maintaining a level of performance in their sport over an extended period of time (e.g., maintaining a specified ranking in a sport for a year). When the company determines payments are probable, the amounts are reported in demand creation expense ratably over the contract period based on the company's best estimate of the endorser's performance. In these instances, to the extent actual payments to the endorser differ from the company's estimate due to changes in the endorser's performance, adjustments to demand creation expense may be recorded in a future period.

    "Certain contracts provide for royalty payments to endorsers based upon a predetermined percent of sales of particular products, which the company records in cost of sales as the related sales occur. For contracts containing minimum guaranteed royalty payments, the company records the amount of any guaranteed payment in excess of that earned through sales of product within demand creation expense.

    "Through cooperative advertising programs, the company reimburses its wholesale customers for certain costs of advertising the company's products. To the extent the company receives a distinct good or service in exchange for consideration paid to the customer that does not exceed the fair value of that good or service, the amounts reimbursed are recorded in demand creation expense."

    The 10-K also said:

    "Many of our consumers shop with us through our digital platforms. Increasingly, consumers are using mobile-based devices and applications to shop online with us and with our competitors, and to do comparison shopping, as well as to engage with us and our competitors through digital services and experiences that are offered on mobile platforms. We use social media and proprietary mobile applications to interact with our consumers and as a means to enhance their shopping experience.

    "Any failure on our part to provide attractive, effective, reliable, secure and user-friendly digital commerce platforms that offer a wide assortment of merchandise with rapid delivery options and that continually meet the changing expectations of online shoppers or any failure to provide attractive digital experiences to our customers could place us at a competitive disadvantage, result in the loss of digital commerce and other sales, harm our reputation with consumers, have a material adverse impact on the growth of our digital commerce business globally and have a material adverse impact on our business and results of operations.

    "In addition, as use of our digital platforms continues to grow, we will need an increasing amount of technical infrastructure to continue to satisfy our consumers' needs. If we fail to continue to effectively scale and adapt our digital platforms to accommodate increased consumer demand, our business may be subject to interruptions, delays or failures and consumer demand for our products and digital experiences could decline.

    "Risks specific to our digital commerce business also include diversion of sales from our and our retailers' brick and mortar stores, difficulty in recreating the in-store experience through direct channels and liability for online content. Our failure to successfully respond to these risks might adversely affect sales in our digital commerce business, as well as damage our reputation and brands."

    Historic demand creation expense:

    In its 10-K for year ended May 2022 (fiscal 2022), Nike said this about demand creation expense: "Demand creation expense increased 24% for fiscal 2022, primarily due to higher advertising and marketing spend against brand campaigns as we experienced marketplace closures in the prior year due to COVID-19, as well as continued investments in digital marketing to support heightened digital demand. Changes in foreign currency exchange rates decreased Demand creation expense by approximately 1 percentage point."

    In its 10-K for year ended May 2021 (fiscal 2021), Nike said this about demand creation expense: "Demand creation expense decreased 13% for fiscal 2021, due to lower marketing and advertising expenses for our brand events and retail operations, as well as lower sports marketing expense as sporting events were postponed due to COVID-19. This activity was partially offset by higher digital marketing investments. Changes in foreign currency exchange rates increased demand creation expense by approximately 2 percentage points for fiscal 2021."

    In its 10-K for year ended May 2020 (fiscal 2020), Nike said this about demand creation expense: "Demand creation expense decreased 4% for fiscal 2020 compared to fiscal 2019, due to lower retail brand presentation costs and lower sports marketing investments, as well as decreased advertising and marketing expenses as sporting events were postponed or canceled and a majority of stores were closed globally during the fourth quarter of fiscal 2020 [quarter ended May 2020]. These decreases were partially offset by higher digital brand marketing costs. Changes in foreign currency exchange rates decreased demand creation expense by approximately 2 percentage points for fiscal 2020."

    In its 10-K for year ended May 2019 (fiscal 2019), Nike said this about demand creation expense: "Demand creation expense increased 5% for fiscal 2019 compared to fiscal 2018, due to sports marketing investments, as well as higher advertising and marketing expenses to support global brand campaigns, key sports moments and new product launches. Changes in foreign currency exchange rates decreased demand creation expense by approximately 2 percentage points for fiscal 2019."

    In its 10-K for year ended May 2018 (fiscal 2018), Nike said this about demand creation expense: "Demand creation expense increased 7% for fiscal 2018 compared to fiscal 2017, driven by higher sports marketing costs. Changes in foreign currency exchange rates increased demand creation expense by approximately 3 percentage points for fiscal 2018."

    In its 10-K for year ended May 2017 (fiscal 2017), Nike said this about demand creation expense: "Demand creation expense increased 2% for fiscal 2017 compared to fiscal 2016, driven by higher sports marketing costs, as well as higher marketing and advertising costs, primarily to support key sporting events including the Rio Olympics and European Football Championship. These increases were partially offset by lower retail brand presentation costs. Changes in foreign currency exchange rates reduced Demand creation expense by approximately 1 percentage point."

    In its 10-K for year ended May 2016 (fiscal 2016), Nike said this about demand creation expense: "Demand creation expense increased 2% for fiscal 2016 compared to fiscal 2015, primarily due to investments in digital brand marketing, including for our DTC" - direct-to-consumer - "business, as well as support for key brand events and initiatives, and sports marketing investments, partially offset by lower advertising expense. For fiscal 2016, changes in foreign currency exchange rates decreased growth in Demand creation expense by approximately 6 percentage points."

    In its 10-K for year ended May 2015 (fiscal 2015), Nike said this about demand creation expense: "Demand creation expense increased 6% for fiscal 2015 compared to the prior year, primarily due to support for key brand and consumer events, including the World Cup in early fiscal 2015, increased digital brand marketing, investments in DTC marketing and higher sports marketing expense. Changes in foreign currency exchange rates decreased growth in demand creation expense by approximately 4 percentage points for fiscal 2015."

    In its 10-K for year ended May 2014 (fiscal 2014), Nike said this about demand creation expense: "Demand creation expense increased 10% compared to the prior year, mainly driven by marketing support for events, including the World Cup, higher sports marketing expense, key product launches and initiatives, and investments to upgrade the presentation of our products in wholesale accounts."

    In its 10-K for year ended May 2013 (fiscal 2013), Nike said this about demand creation expense: "Demand creation expense increased 5% compared to the prior year, mainly driven by an increase in sports marketing expense, marketing support for key product initiatives, including the Nike Fuelband and NFL launch, as well as an increased level of marketing spending around global sporting events such as the European Football Championships and London Summer Olympics. Excluding the effects of changes in foreign currency exchange rates, demand creation expense increased 8%."

    In its 10-K for year ended May 2012 (fiscal 2012), Nike said this about demand creation expense: "Demand creation expense increased 11% compared to the prior year, mainly driven by an increase in sports marketing expense, marketing support for key product initiatives, including the Nike Fuelband and NFL launch, as well as an increased level of brand event spending in advance of the European Football Championships and London Summer Olympics. For fiscal 2012, changes in currency exchange rates increased the growth of demand creation expense by 1 percentage point."

    Nike said this in its 10-K for year ended May 2011 (fiscal 2011): "Demand creation expense increased 4% [in year ended May 2011] compared to the prior year, primarily driven by a higher level of brand event spending around the World Cup and World Basketball Festival in the first half of fiscal 2011, as well as increased spending around key product initiatives and investments in retail product presentation with wholesale customers."

    Nike said this in its 10-K for year ended May 2010 (fiscal 2010): "Demand creation expense remained flat compared to the prior year, as increases in sports marketing and digital marketing expenses were offset by reductions in advertising. In fiscal 2011 [year ending May 2011], we will continue to focus our resources on those investments that drive sustainable and profitable growth. We expect demand creation will increase at a slightly slower rate than revenues, with spending weighted toward the first quarter driven by key events including the 2010 World Cup."

    Deals and strategic moves:

    In its 10-K for year ended May 2023 (fiscal 2023), Nike said:

    "During fiscal 2023, 2022 and 2021, the company made multiple acquisitions focused on gaining new capabilities to fuel its consumer direct acceleration strategy, serving consumers personally at a global scale. The impact of acquisitions, individually and in aggregate, was not considered material to the company's consolidated financial statements."

    Nike in August 2019 bought Celect, a retail predictive analytics and demand sensing firm based in Boston.

    Nike in December 2019 sold Hurley to Bluestar Alliance, a company that owns an assortment of consumer brands. Bluestar specializes in licensing, branding and marketing consumer brands. Hurley is a brand of action sports apparel for surfing, skateboarding and snowboarding. Nike bought Hurley International in April 2002.

    Nike on Feb. 1, 2013, sold Cole Haan (dress and casual shoes and accessories) to buyout firm Apax Partners for $561 million. (Nike purchased Cole Haan in 1988.) Cole Haan in February 2020 filed for an initial public offering. Cole Haan in January 2021 scrapped its plan for an IPO.

    Nike on Nov. 30, 2012, sold Umbro (soccer shoes and apparel) to Iconix Brand Group for $225 million. Iconix earlier bought Nike's Starter brand. (Nike acquired Umbro, a U.K.-based global soccer brand, in March 2008 for $576.4 million.)

    Nike on May 31, 2012, had announced its intent to sell Cole Haan and Umbro by May 31, 2013, so the company could focus on its Nike, Jordan, Converse and Hurley brands.

    Nike bought Converse in September 2003 for about $310 million.

    Following a strategic review, Nike decided to sell Starter, a value sports-apparel brand, and Bauer Hockey (Nike Bauer Hockey), a hockey business.

    Nike in December 2007 sold Starter, the main business of Nike's Exeter Brands Group, to Iconix for $60 million cash. (Nike purchased Starter in August 2004 for $47.2 million.)

    In April 2008, Nike sold Bauer Hockey to Kohlberg & Co. and Canadian businessman W. Graeme Roustan for $189.2 million. (Nike bought Bauer's marketer, Canstar Sports, in February 1995 for $409 million.)

    Stock:

    Nike co-founder and Chairman Phil Knight in June 2015 formed Swoosh LLC as an entity to own and manage Knight's Nike Class A shares. If those shares had been converted into Class B common stock on June 30, 2015, Swoosh would have owned 17.7% of Nike Class B stock. Class B is Nike's publicly traded stock.

    As of June 30, 2016, Swoosh LLC beneficially owned more than 78% of Class A shares. If, on June 30, 2016, all of these shares were converted into Class B stock, Swoosh would have owned about 16% of Nike's publicly traded stock.

    Management and employees:

    John Donahoe became Nike's president-CEO effective Jan. 13, 2020. Donahoe had been a Nike board member since 2014. He is a former CEO of eBay and earlier worked at consulting firm Bain & Co.

    As president-CEO, Donahoe succeeded Chairman-President-CEO Mark Parker, who became executive chairman. Parker, who joined Nike as a footwear designer in 1979, was named CEO in 2006 and had been chairman since 2016.

    Nike co-founder Phil Knight in 2016 retired as chairman. Knight now is chairman emeritus.

    History:

    Nike was incorporated in 1968.

    https://www.nike.com

Nissan Motor Co.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Nissan Motor Co. is a global automaker with headquarters in Tokyo.

    Nissan markets vehicles under the brand names Nissan and Infiniti (luxury).

    Nissan is part of the Renault-Nissan-Mitsubishi alliance, which includes French automaker Renault and Japanese automaker Mitsubishi Motors Corp.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is Nissan's stated worldwide ad spending converted to dollars at average exchange rates by Ad Age Datacenter.

    Nissan reported worldwide "advertising expenses" of 283.505 billion yen ($2.098 billion) in year ended March 2023.

    Deals and strategic moves:

    Renault/Fiat Chrysler Automobiles:

    Fiat Chrysler Automobiles on May 26, 2019, sent a proposal to French automaker Renault for a 50/50 merger. FCA withdrew its proposal on June 6, 2019, saying in a statement: "It has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully." (FCA and French automaker PSA Group on Oct. 31, 2019, announced plans for a 50/50 merger. FCA and PSA merged Jan. 16, 2021, forming Stellantis.)

    Renault's biggest brand, and its global brand, is Renault. Renault's other brands include Dacia (sold in Europe and the Mediterranean region); Renault Samsung Motors (sold in South Korea); and Alpine (a European sports car).

    Renault previous was a minority investor in American Motors Corp. Renault in 1979 agreed to make an investment in American Motors, parent of Jeep (which American Motors bought in 1970). By the early '80s, Renault owned 49% of American Motors, at the time the No. 4 U.S.-based automaker.

    Chrysler Corp. bought American Motors (including Renault's stake) in 1987. Chrysler now is part of Stellantis.

    Mitsubishi:

    Nissan in May 2016 signed a strategic alliance agreement with Japan's Mitsubishi Motors Corp.

    Chrysler Corp. and successor DaimlerChrysler formerly held stakes in Mitsubishi Motors Corp.

    Chrysler Corp., which had an alliance with Mitsubishi dating to the 1970s, sold its remaining minority stake in Mitsubishi Motors Corp. in 1993.

    Renault:

    Nissan and Renault formed a broad alliance in 1999.

    Management and employees:

    Nissan named Makoto Uchida as CEO effective Jan. 1, 2020. Before becoming CEO, Uchida ran Nissan's China business.

    Uchida's appointment came after Hiroto Saikawa resigned as CEO in September 2019.

    Carlos Ghosn stepped down as Nissan's CEO on April 1, 2017, when he was succeeded by Saikawa.

    Ghosn remained chairman until November 2018.

    Ghosn joined Nissan as chief operating officer in June 1999 and became CEO in June 2001.

    Ghosn formerly was chairman-CEO of Renault, chairman of Nissan and chairman of Mitsubishi. Nissan and Mitsubishi in November 2018 removed Ghosn as chairman after he was arrested in Japan on suspicions of understating his compensation in Nissan financial reports. Ghosn denied any wrongdoing.

    Ghosn resigned as Renault's chairman-CEO in January 2019.

    https://www.nissan-global.com

Paramount Global

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Paramount Global is an entertainment media company based in New York.

    Its properties include broadcast network CBS; cable channels BET, Comedy Central, MTV, Nickelodeon and Showtime Networks; movie studio Paramount Pictures; and streaming services Paramount+ and Pluto TV.

    Viacom and CBS Corp. merged Dec. 4, 2019, forming ViacomCBS. The deal reunited the two companies following a corporate split in 2005.

    ViacomCBS in February 2022 changed its name to Paramount Global.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Ad Age Datacenter estimates of Paramount Global’s “advertising expenses.”

    Worldwide ad spending:

    Total worldwide ad spending figures shown in the Ad Age World’s Largest Advertisers report and related database are Paramount Global’s stated worldwide “advertising expenses.”

    Deals and strategic moves:

    ViacomCBS:

    Viacom and CBS Corp. merged after markets closed Dec. 4, 2019.

    Immediately following the closing, CBS Corp., the surviving company, changed its name to ViacomCBS. ViacomCBS in February 2022 changed its name to Paramount Global.

    The deal reunited the two companies following a corporate split in 2005.

    Viacom and CBS had a shared history.

    CBS in June 1971 spun off Viacom as a separate public company.

    Viacom then acquired CBS in May 2000.

    Viacom Inc. on Dec. 31, 2005, split into two companies. The old Viacom morphed into CBS Corp., and the spinoff became the new Viacom Inc.

    Simon & Schuster:

    Paramount in August 2023 agreed to sell Simon & Schuster, its book publishing unit, to buyout firm KKR for $1.62 billion in an all-cash transaction.

    The deal came after Paramount in November 2022 terminated an agreement to sell Simon & Schuster to Penguin Random House, part of Bertelsmann, for $2.18 billion. That deal was unveiled in November 2020, but the U.S. Justice Department in November 2021 sued to block the transaction, and a U.S. District Court in October 2022 ruled in favor of the Justice Department.

    Stock:

    Effective after CBS Corp.’s acquisition of Viacom to form ViacomCBS on Dec. 4, 2019, CBS (now Paramount Global) moved its stock listings to Nasdaq from the New York Stock Exchange.

    Viacom had moved its stock listings to Nasdaq from the New York Stock Exchange on Dec. 1, 2011.

    History:

    Paramount, Viacom and CBS have a shared history.

    CBS in 1971 spun off Viacom as a separate public company.

    Viacom in 1994 acquired Paramount Communications, parent of Paramount Pictures. That came five years after former conglomerate Gulf and Western changed its name to Paramount Communications in 1989.

    Westinghouse Electric Corp. bought CBS in 1995. Westinghouse changed Westinghouse’s name to CBS in 1997.

    Viacom acquired CBS in May 2000.

    Viacom Inc. on Dec. 31, 2005, split into two companies. The old Viacom morphed into CBS Corp., and the spinoff became the new Viacom Inc.

    Viacom and CBS Corp. merged Dec. 4, 2019. Immediately following the closing, CBS Corp., the surviving company, changed its name to ViacomCBS.

    The name CBS came from Columbia Broadcasting System, a radio-station network that went on the air under the name Columbia Phonographic Broadcasting System in 1927 (shortened soon after that to Columbia Broadcasting System). “Columbia” came from Columbia Phonograph Co. (the then-owner of Columbia Records), an early investor in the radio network.

    ViacomCBS in February 2022 changed its name to Paramount Global.

    https://www.paramount.com

PDD Holdings (Pinduoduo, Temu)

  • Marketer profile
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    Overview:

    PDD Holdings is a multinational e-commerce firm that operates the Pinduoduo and Temu shopping platforms.

    PDD's key operations are in China.

    Nasdaq-listed PDD is registered in the Cayman Islands and reports Dublin as its principal executive offices.

    Temu is based in Boston.

    Prior to 2023, the company listed Shanghai as its principal executive offices.

    The company's annual regulatory filing for year ended December 2022 said "long-lived assets are substantially all located in [China] and substantially all the group revenues are derived from within [China]."

    The company in February 2023 changed its corporate name from Pinduoduo Inc. to PDD Holdings Inc.

    Business segments and operations:

    PDD operates the Pinduoduo and Temu platforms.

    The Pinduoduo platform, based primarily in China, launched in 2015 to connect merchants with consumers. The platform includes a range of product categories including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care items, sports and fitness items and auto accessories.

    PDD in September 2022 launched Temu, a global online marketplace that connects consumers with global sellers, manufacturers and brands through Temu's mobile app and website. Temu competes with other China-centric discounters including AliExpress (owned by Alibaba Group Holding) and Shein.

    Boston-based Temu advertised on the Super Bowl in February 2023.

    Sales and earnings:

    Sales (revenue) and earnings (net income) shown in an accompanying table are stated figures for PDD converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are PDD's stated "advertising expenditures and incentive programs" expenses converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    PDD's stated worldwide advertising expenditures and incentive programs expenses:

    2022: 49,971 million renminbi ($7.444 billion (38.3% of revenue)
    2021: 41,457 million renminbi ($6.425 billion (44.1% of revenue)
    2020: 39,298 million renminbi ($5.697 billion (66.1% of revenue)
    2019: 25,868 million renminbi ($3.747 billion (85.8% of revenue)
    2018: 12,868 million renminbi ($1.949 billion (98.1% of revenue)
    2017: 1,260 million renminbi ($186 million (72.2% of revenue)
    2016: 114 million renminbi ($17 million (22.5% of revenue)

    The company made its World's Largest Advertisers debut in the October 2023 ranking based on 2022 ad spending.

    Advertising expenditures and incentive programs are a subset of PDD's "sales and marketing expenses."

    PDD's annual regulatory filing for year ended December 2022 said:

    "Sales and marketing expenses consist primarily of online and offline advertising, promotion and coupon expenses, as well as payroll, employee benefits, share-based compensation expenses and other related expenses associated with sales and marketing. We expect to continue our sales and marketing spending in the foreseeable future as we seek to increase our brand awareness, enhance user engagement and build scale."

    Deals and strategic moves:

    Tencent:

    PDD in February 2018 entered a strategic cooperation agreement with Tencent Holdings, an internet services firm operating in China. Entities affiliated with Tencent held a 14.7% stake in PDD as of February 2023, according to PDD's annual regulatory filing.

    Stock:

    PDD went public in July 2018 with a listing on Nasdaq.

    History:

    The company was incorporated in the Cayman Islands in 2015 and launched its Pinduoduo platform that year.

    The firm launched a second e-commerce platform, Temu, in September 2022.

    The company in February 2023 changed its corporate name from Pinduoduo Inc. to PDD Holdings Inc.

PepsiCo

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    PepsiCo is a marketer of soft drinks, salty snacks and other beverage and food products.

    The company markets products in more than 200 countries and territories.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are PepsiCo's stated worldwide "advertising expenses."

    The company's 10-K filing for year ended December 2022 said:

    "Advertising and other marketing activities, reported as selling, general and administrative expenses, totaled $5.2 billion in 2022, $5.1 billion in 2021 and $4.6 billion in 2020, including advertising expenses of $3.5 billion in both 2022 and 2021, and $3.0 billion in 2020."

    Deals and strategic moves:

    PepsiCo in August 2022 made a $550 million investment in Celsius Holdings, a fitness-energy drink marketer. PepsiCo received preferred stock convertible to an 8.5% ownership stake in Celsius. PepsiCo also entered a long-term distribution agreement with Celsius. Publicly traded Celsius is based in Boca Raton, Florida.

    PepsiCo in first-quarter 2022 sold its Tropicana, Naked and other juice brands in North America and Europe to buyout firm PAI Partners for about $3.5 billion cash while retaining a 39% stake. The North America portion of the transaction was completed Jan. 24, 2022. The Europe portion of the deal closed Feb. 1, 2022. PepsiCo said the juice business had about $3 billion in net revenue in 2021. PepsiCo bought orange juice marketer Tropicana Products for $3.3 billion in 1998 and acquired Naked Juice Co., a marketer of healthy beverages, for an undisclosed price in 2007.

    PepsiCo in April 2020 bought Rockstar Energy Beverages, a marketer of energy beverages and related products, for an upfront cash payment of about $3.85 billion and contingent consideration related to future tax benefits associated with the acquisition of about $900 million.

    PepsiCo in June 2020 bought Be & Cheery, a snack company in China, from Haoxiangni Health Food Co. for $705 million.

    PepsiCo in March 2020 bought Pioneer Foods Group, a food and beverage marketer based in South Africa, for about $1.2 billion.

    PepsiCo in April 2019 bought CytoSport from Hormel Foods Corp. The acquisition included the Muscle Milk and Evolve brands. Hormel said it received final proceeds from the transaction of $479.8 million.

    PepsiCo in December 2018 bought SodaStream International in a transaction valued at $3.3 billion. Israel-based SodaStream marketed devices and products allowing consumers to turn tap water into sparkling water and soft drinks. At the time the deal was announced in August 2018, SodaStream marketed its products in 45 countries.

    PepsiCo in November 2016 bought KeVita, a U.S.-based marketer of fermented probiotic and kombucha beverages. In announcing the deal, PepsiCo said: "The transaction will expand PepsiCo's health and wellness offerings in the premium chilled beverage space." Price tag wasn't disclosed.

    History:

    The company was incorporated in 1919.

    PepsiCo in October 1997 spun off Tricon Global Restaurants (KFC, Pizza Hut, Taco Bell) to shareholders as an independent public company. Tricon Global in May 2002 changed its named to Yum Brands. The company's stock ticker symbol is YUM.

    https://www.pepsico.com

Pernod Ricard

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Pernod Ricard is a global spirits and wine marketer based in France.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World’s Largest Advertisers report and related database are Pernod Ricard’s stated worldwide “advertising and promotion expenses” converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    Pernod Ricard disclosed worldwide “advertising and promotion expenses” of 1.939 billion euros ($2.032 billion) in the fiscal year ended June 2023.

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is Ad Age Datacenter’s estimate of U.S. “advertising and promotion” spending.

    Deals and strategic moves:

    Ace Beverage Group (2023):

    Corby Spirit and Wine, a Canadian marketer and distributor of spirits and wines, in July 2023 agreed to buy a 90% stake in Ace Beverage Group, a Canadian marketer of ready-to-drink alcoholic beverages. Ace was created in 2020 through the merger of Cottage Springs (founded in 2013) and Ace Hill (founded in 2015).

    Pernod Ricard as of 2023 owned about 46% of Corby Spirit and Wine.

    Clan Campbell (sale; 2023):

    Pernod Ricard in June 2023 sold Clan Campbell Blended Scotch Whisky, a liquor brand distributed in Europe, to  Stock Spirits Group, a Central European-based spirits marketer.

    Skrewball (2023):

    Pernod Ricard in April 2023 bought a 70% stake in U.S. whiskey brand Skrewball, billed as the world’s first super-premium peanut butter flavored American whiskey. Skrewball was founded in 2018.

    Codigo 1530 (2022):

    Pernod Ricard in December 2022 bought a 50.1% stake in Codigo 1530 Tequila, a Mexican brand of ultra-premium and prestige tequila sold in the U.S. and global markets. Codigo 1530 was founded in 2016.

    Tormore Scotch (sale; 2022):

    Pernod Ricard in June 2022 sold the Tormore Scotch whisky brand and distillery to Elixir Distillers.

    Chateau Sainte-Marguerite (2022):

    Pernod Ricard in March 2022 bought a 60% stake in Chateau Sainte-Marguerite, a premium wine marketer in France.

    Societe des Produits d’Armagnac (sale; 2022):

    Pernod Ricard in February 2022 sold France-based Societe des Produits d’Armagnac to Cloudsweeper. Societe des Produits d’Armagnac owned the Marquis de Montesquiou (Armagnac Montesquiou) and Comte de Lauvia French brandy brands.

    The Whisky Exchange (2021):

    Pernod Ricard in September 2021 bought The Whisky Exchange, an online and brick-and-mortar spirits retailer based in the U.K. and founded in 1999.

    Sovereign Brands (2021)

    Pernod Ricard in September 2021 made a minority-stake investment in U.S.-based Sovereign Brands, a marketer of super premium wine and spirits brands including Luc Belaire, a French sparkling wine, and Bumbu, a line of rum products from the Caribbean. Pernod Ricard bought an additional stake in November 2022. Sovereign Brands was founded in 2000.

    La Hechicera (2021):

    Pernod Ricard in March 2021 bought a 51% stake in La Hechicera, a Colombian ultra-premium rum introduced in 2012.

    St. Petroni (2020):

    Pernod Ricard in September 2020 bought an 80% stake in Vermuteria de Galicia, marketer of St. Petroni, a Spanish vermouth brand that was introduced in 2014.

    Monkey 47 (2020, 2016):

    Pernod Ricard in March 2020 bought the remaining stake of Germany-based Black Forest Distillers, marketer of Monkey 47, giving it full ownership. Monkey 47 is a dry-gin brand produced in Germany. Pernod Ricard had purchased a majority stake in 2016.

    Italicus (2020):

    Pernod Ricard in March 2020 bought a 50.1% stake in Italicus, an Italian apertivo introduced in 2016.

    Castle Brands (2019):

    Pernod Ricard in October 2019 bought Castle Brands (U.S.) for about $223 million plus assumption of Castle’s debt. Castle was a marketer of premium and super-premium brands including Jefferson’s.

    Firestone & Robertson (2019):

    Pernod Ricard in September 2019 bought 100% of Firestone & Robertson Distilling Co. (U.S.), owner of the TX Bourbon brand.

    Rabbit Hole Whiskey (2019):

    Pernod in July 2019 bought a majority stake in Rabbit Hole Whiskey, a super-premium bourbon.

    Other 2019 deals:

    Pernod Ricard in 2019 bought a majority interest in Laurenskirk (South Africa), owner of the Inverroche Gin brand; 100% of Bodeboca (Spain), owner of the Bodeboca digital platform; and 34% of the Seagram MM Holdings joint venture (Myanmar), owner of the High Class Whisky brand.

    Glenallachie Distillery (sale; 2017):

    Pernod Ricard and Chivas Brothers in October 2017 sold the Glenallachie Distillery and Glenallachie brand to Billy Walker, Graham Stevenson and Trisha Savage, comprising the GlenAllachie Consortium.

    Del Maguey Single Village Mezcal (2017):

    The company in August 2017 bought a majority stake (about 62%) in Del Maguey Single Village Mezcal.

    Domecq brandies and wines (sale; 2017):

    Pernod Ricard in March 2017 sold its Domecq brandies and wines to Bodega Las Copas, a 50/50 joint venture of Emperador Group and Gonzalez Byass, for 81 million euros ($87 million). The sale included the brand portfolio of Mexican brandies Don Pedro, Presidente and Azteca de Oro as well as a Mexican winery.

    Smooth Ambler (2017):

    The company in January 2017 bought an 80% stake in Smooth Ambler, a West Virginia-based producer of high-end spirits including Smooth Ambler Contradiction Bourbon and Old Scout Single Barrel Bourbon. Smooth Ambler Spirits Co. opened in 2009.

    Fris Vodka (sale; 2016):

    Pernod Ricard in September 2016 sold Fris Vodka to Sazerac Co., a Louisiana-based alcoholic beverage marketer.

    Paddy Irish Whiskey (sale; 2016):

    Pernod Ricard’s Irish Distillers unit in May 2016 sold Irish Distillers’ Paddy Irish Whiskey brand to Sazerac Co. Sale price wasn’t disclosed.

    Avion Spirits (2014):

    Pernod Ricard in July 2014 bought a majority stake in Avion Spirits, a U.S.-based marketer of Avion, an ultra-premium tequila.

    Kenwood (2014):

    Pernod Ricard in 2014 acquired Kenwood, a premium California wine marketer.

    Caribe Cooler (sale; 2014):

    Pernod Ricard in 2014 sold Caribe Cooler, a major brand in the Mexican
    ready-to-drink beverage segment.

    Vin&Sprit (2008):

    Pernod Ricard in 2008 bought Vin&Sprit, owner of Absolut vodka.

    Allied Domecq (2005):

    Pernod Ricard in 2005 bought Allied Domecq, doubling in size. The deal included brands such as Mumm and Perrier-Jouet champagnes, Ballantine’s whisky, Kahlua and Malibu liqueurs and Beefeater gin.

    Seagram (2001):

    Vivendi Universal (now Vivendi) in 2001 sold Seagram’s wine and spirit businesses to Pernod Ricard and rival Diageo. Pernod Ricard gained such brands as Chivas Regal, Glenlivet, Royal Salute and Martell. (Vivendi Universal was formed in December 2000 through a three-way merger of Vivendi, Canal Plus S.A. and Seagram Co. Seagram was a spirits company that in 1985 had purchased MCA (Universal Studios and MCA Music Entertainment Group, now Universal Media Group).)

    Havana Club International (1993):

    Pernod Ricard and the Cuban company Cuba Ron formed Havana Club International, a joint venture to market and sell Havana Club rum.

    Irish Distillers (1988):

    Pernod Ricard bought Irish Distillers, owner of Jameson.

    History:

    Pernod Ricard was formed in 1975 by the combination of two alcohol marketers, Pernod SA and Ricard SA, which had been long-time competitors in France.

    Pernod was founded in 1805. Ricard opened in 1932.

    https://pernod-ricard.com

Pfizer

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Pfizer is a global marketer of prescription drugs.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Pfizer's stated worldwide "advertising expenses."

    Deals and strategic moves:

    Seagen:

    Pfizer in March 2023 signed a deal to buy Seagen, a global biotechnology company focused on cancer medicines, for a total enterprise value of $43 billion.

    Bothell, Washington-based Seagen disclosed worldwide advertising costs of $114.1 million in 2022; $88.8 million in 2021; and $59.3 million in 2020.

    Global Blood Therapeutics:

    Pfizer in October 2022 bought Global Blood Therapeutics, a biopharmaceutical company based in South San Francisco, California, for $5.7 billion ($5.2 billion, net of cash acquired).

    Biohaven:

    Pfizer in October 2022 bought Biohaven Pharmaceutical Holding Co. for about $11.5 billion plus repayment of debt of $863 million and redemption of redeemable preferred stock for $495 million. New Haven, Connecticut-based Biohaven marketed Nurtec ODT/Vydura, a drug for treatment of migraine in adults.

    Biohaven disclosed worldwide advertising costs of $162.9 million in 2021 and $107.0 million in 2020, including costs of endorsement and sponsorship contracts, TV, digital and print advertising, media fees and brand events.

    Consumer health care:

    Pfizer was a partner with GSK in GSK Consumer Healthcare. GSK spun off the consumer health care products business in July 2022 as a separate public company, Haleon.

    Pfizer plans to sell its 32% stake in Haleon. Pfizer in June 2022 said: "The company intends to exit its 32% ownership interest in Haleon in a disciplined manner, with the objective of maximizing value for Pfizer shareholders." Pfizer in March 2023 said: "There is no change in our intention to approach monetization of our Haleon stake in a disciplined manner with a focus on maximizing shareholder value."

    Pfizer and GSK in August 2019 merged their consumer health care businesses into a new consumer health care joint venture that operates globally under the GlaxoSmithKline Consumer Healthcare name. Pfizer owned a 32% stake; GSK owned 68%.

    Pfizer in October 2017 had said it was reviewing strategic alternatives for its consumer health care business. In announcing the strategic review, Pfizer said: "A range of options will be considered, including a full or partial separation of the Consumer Healthcare business from Pfizer through a spin-off, sale or other transaction, and Pfizer may ultimately determine to retain the business."

    This marked Pfizer's second exit from consumer health care. The company in 2006 sold its consumer health care business to Johnson & Johnson in 2006. Pfizer reentered the consumer business in 2009 with its acquisition of pharma and consumer health care marketer Wyeth.

    Upjohn spinoff and merger with Mylan:

    Pfizer and pharma firm Mylan in November 2020 completed a deal, announced in July 2019, to combine Mylan with Upjohn, Pfizer's off-patent branded and generic established medicines business, creating Viatris, a global pharmaceutical company based in Canonsburg, Pennsylvania.

    Under the deal, Pfizer spun off Upjohn to Pfizer's shareholders; Upjohn simultaneously combined with Mylan. Pfizer shareholders ended up with 57% of Viatris, and Mylan shareholders owned 43%.

    Upjohn was incorporated in February 2019 as a wholly owned subsidiary of Pfizer. Effective Nov. 16, 2020, Upjohn changed its name to Viatris and became the parent of the combined Upjohn and Mylan businesses.

    Pfizer/Allergan merger:

    Pfizer and Allergan on April 6, 2016, terminated a planned merger. The deal, announced Nov. 23, 2015, would have created the world's biggest pharma marketer.

    When it announced the deal's termination, Pfizer said Pfizer would plan by the end of 2016 about a potential breakup of Pfizer into two companies, one focused on "innovative" growth businesses and the other on "established businesses." Pfizer on Sept. 26, 2016, said it had decided to remain as one company.

    In terminating the Allergan deal, Pfizer paid Allergan $150 million "for reimbursement of expenses associated with the transaction."

    U.S. pharma marketer AbbVie bought Allergan in May 2020.

    Proposal to buy AstraZeneca:

    Pfizer in January 2014 privately approached U.K.-based AstraZeneca with an offer to buy the company. AstraZeneca rejected the proposal.

    Pfizer in April 2014 publicly disclosed its interest in AstraZeneca and then publicly announced higher takeover offers in May 2014, including an offer valuing AstraZeneca at about $120 billion that Pfizer said was its "final proposal." AstraZeneca rejected those offers.

    Pfizer on May 26, 2014, said: "On 18 May 2014, Pfizer announced that it had made a final proposal to AstraZeneca to make an offer to combine the two companies. Following the AstraZeneca board's rejection of the proposal, Pfizer announces that it does not intend to make an offer for AstraZeneca."

    Other deals:

    Pfizer in March 2022 bought San Diego-based Arena Pharmaceuticals, a clinical stage company developing therapies for treatment of several immuno-inflammatory diseases, for about $6.7 billion.

    Pfizer in November 2021 bought the rest of Trillium, a clinical stage immuno-oncology company, for $2 billion, net of cash acquired. Pfizer previously had a 2% ownership stake.

    Pfizer on Oct. 15, 2009, completed the acquisition of Wyeth, a marketer of prescription drugs and over-the-counter health care products, for $68 billion in Pfizer stock and cash. Pfizer struck its deal to buy Wyeth in January 2009. Pfizer already ranked No. 1 in 2008 U.S. prescription drug sales; Wyeth ranked No. 15 in 2008.

    The Wyeth deal put Pfizer back into the consumer products business. Wyeth over-the-counter brands included Advil, Centrum, ChapStick, Dimetapp, Preparation H, Robitussin and ThermaCare.

    Wyeth was founded in 1926. Wyeth changed its name from American Home Products Corp. in March 2002. American Home Products had purchased John Wyeth & Brother, a drug maker, in 1931.

    Pfizer, focusing on pharmaceuticals, had exited consumer products in December 2006 when it sold Pfizer Consumer Healthcare (part of the former Warner-Lambert) to Johnson & Johnson for $16.6 billion cash. Over-the-counter brands in that transaction included Listerine, Purell, Sudafed, Lubriderm, Rogaine and Nicotrol.

    Pfizer bought Warner-Lambert in June 2000 for $80 billion.

    Pfizer bought fragrance and cosmetics company Coty in 1963. In June 1992, the Benckiser family company (operating as Joh. A. Benckiser G.m.b.H.) bought Coty from Pfizer for gross proceeds of about $440 million. Coty had been Pfizer's fragrance and cosmetics division.

    History:

    Pfizer was founded in 1849.

    https://www.pfizer.com

Procter & Gamble Co.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Procter & Gamble Co., the giant of cleaning and personal care products, ranked as the No. 4 advertiser in the Ad Age World's Largest Advertisers 2023 ranking and report based on estimated marketing spending in the fiscal year ended June 2023.

    Ad Age ranked P&G as the third-largest U.S. advertiser, behind Amazon and Comcast Corp.

    P&G markets its products in about 180 countries and territories.

    Largest customers:

    P&G's largest customer is Walmart. Sales to Walmart (including Walmart and Sam's Club) represented about 15% of worldwide sales from fiscal 2018 through fiscal 2023; 16% in fiscal 2017; 15% of worldwide sales in fiscal 2016, 2015 and 2014; 14% in 2013 and 2012; 15% in 2011; 16% in 2010, 2009 and 2008; and 15% in 2007 and 2006.

    P&G said in its 10-K for year ended June 2023: "No other customer represents more than 10% of our total sales. Our top ten customers accounted for 40% of our total net sales in 2023 and 39% in 2022 and 2021."

    Those percentages were 38% in 2020; 36% in 2019 and 2018; 35% in 2017, 2016, 2015 and 2014; 33% in 2013; 31% in 2012; 32% in 2011 and 2010; 30% in 2009; 31% in 2008; and 30% in 2007.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Ad Age Datacenter estimates for P&G U.S. "marketing spending" for fiscal years ended June 2022 and June 2021.

    U.S. measured-media figures shown are for calendar years 2022 and 2021.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Ad Age Datacenter estimates for P&G worldwide "marketing spending" for fiscal years ended June 2023 and June 2022.

    Global measured-media figures shown are for calendar years 2022 and 2021.

    Ad Age estimates that P&G spent $11.0 billion on worldwide marketing in the year ended June 2023.

    P&G ranked No. 4 in the Ad Age World's Largest Advertisers 2023 report (based on Ad Age's calculation of estimated P&G marketing spending for year ended June 2023); No. 4 in the 2022 report (year ended June 2022); No. 1 in the 2021 report (year ended June 2021); No. 2 in the 2020 report (year ended June 2020); No. 1 in the 2019 report (year ended June 2019); No. 2 in the 2018 report (year ended June 2018); and No. 1 in the 2017 report (year ended June 2017).

    P&G marketing spending:

    P&G offers limited disclosure on "marketing spending" (formerly called "advertising plus other marketing costs").

    "Marketing spending" includes "advertising costs" and non-advertising marketing spending.

    P&G's stated worldwide "advertising costs" include worldwide television, print, radio, digital and in-store advertising expenses.

    Non-advertising related components of marketing spending reported in selling, general and administrative (SG&A) expense include costs associated with consumer promotions, product sampling and sales aids.

    In its 10-K filing, the company disclosed rounded worldwide advertising costs of $8.0 billion in the year ended June 2023.

    In a July 2023 media briefing, Chief Financial Officer Andre Schulten said P&G's ad spending rose $123 million in the year ended June 2023.

    P&G disclosed rounded worldwide advertising costs of $7.9 billion in the year ended June 2022.

    Schulten in August 2021 said ad spending rose $850 million in the year ended June 2021, implying worldwide ad expense of $8.176 billion. The 10-K for year ended June 2021 disclosed rounded ad expense of $8.2 billion.

    The company disclosed worldwide advertising costs of $7.326 billion in the year ended June 2020.

    See worldwide ad costs table elsewhere in this record.

    Marketing spending reported in SG&A excludes exclude trade promotions.

    The 10-K for year ended June 2023 said: "Trade promotions, consisting primarily of customer pricing allowances, merchandising funds and consumer coupons, are offered through various programs to customers and consumers. Sales are recorded net of trade promotion spending, which is recognized as incurred at the time of the sale. Most of these arrangements have terms of approximately one year."

    P&G has disclosed information on worldwide "marketing spending" (formerly referred to as "advertising plus other marketing costs") for fiscal years ended June 30:

    2023: "Marketing spending as a percentage of net sales decreased 40 basis points," or 0.4 percentage points, "due to the positive scale impacts of the net sales increase and increased productivity savings, partially offset by increased media reinvestments." That implies marketing spending was about 14.47% of net sales (modeled on the fiscal-2022 percentage shown below). That in turn implies worldwide marketing spending of $11.046 billion in year ended June 2023.

    2022: "Marketing spending as a percentage of net sales decreased 120 basis points," or 1.2 percentage points, "due primarily to the positive scale impacts of the net sales increase and, to a lesser extent, due to increased media and production cost savings and decreased media spending." That implies marketing spending was about 13.87% of net sales (modeled on the fiscal-2021 percentage shown below). That in turn implies worldwide marketing spending of $11.122 billion in year ended June 2022.

    2021: "Marketing spending as a percentage of net sales was unchanged, as investments in media and other marketing spending were offset by the positive scale impacts of the net sales increase and savings in agency compensation and production costs." That implies marketing spending was about 15.07% of net sales (modeled on the fiscal-2020 percentage shown below). That in turn implies worldwide marketing spending of $11.471 billion in year ended June 2021.

    2020: "Marketing spending as a percentage of net sales increased 10 basis points due to investments in media and other marketing spending, partially offset by the positive scale impacts of the net sales increase and savings in agency compensation, production costs and advertising spending." That implies marketing spending was about 15.07% of net sales (modeled on the fiscal-2019 percentage shown below). That in turn implies worldwide marketing spending of $10.692 billion in year ended June 2020.

    2019: "Marketing spending as a percentage of net sales decreased 80 basis points due to the positive scale impacts of the organic net sales increase, reductions in agency compensation and the impact of adopting the new standard on 'Revenue from Contracts with Customers' which prospectively reclassified certain customer spending from marketing (SG&A) expense to a reduction of net sales," according to the 10-K for year ended June 2019. That implies marketing spending was about 14.97% of net sales (modeled on the fiscal-2018 percentage shown below). That in turn implies worldwide marketing spending of $10.132 billion in year ended June 2019.

    2018: "Marketing spending as a percentage of net sales decreased 30 basis points, primarily driven by reductions in agency compensation and production costs," according to the 10-K for year ended June 2018. That implies marketing spending was about 15.77% of net sales (modeled on the fiscal-2017 and fiscal-2016 percentages shown below). That in turn implies worldwide marketing spending of $10.539 billion in year ended June 2018. The 10-K for year ended June 2018 said this about marketing spending in fiscal 2017 (year ended June 2017): "Marketing spending as a percentage of net sales increased 10 basis points due to an increase in marketing activities, partially offset by productivity savings," reiterating a statement (shown below) made in the 10-K for year ended June 2017.

    2017: "Marketing spending as a percentage of net sales increased 10 basis points due to an increase in marketing activities, partially offset by productivity savings," according to the 10-K for year ended June 2017. That implies marketing spending was about 16.07% of net sales (modeled on the fiscal-2016 and fiscal-2015 percentages shown below). That in turn implies worldwide marketing spending of $10.455 billion in year ended June 2017 (excluding spending on beauty brands that were reported as discontinued operations). The 10-K for year ended June 2017 said this about marketing spending in fiscal 2016 (year ended June 2016): "Marketing spending as a percentage of net sales increased 90 basis points due to the negative scale impacts from reduced sales," reiterating a statement (shown below) made in the 10-K for year ended June 2016.

    2016: "Marketing spending as a percentage of net sales increased 90 basis points due to the negative scale impacts from reduced sales," according to the 10-K for year ended June 2016. That implies marketing spending was about 15.97% of net sales (modeled on the fiscal-2015 and fiscal-2014 percentages shown below). That in turn implies worldwide marketing spending of $10.428 billion in year ended June 2016 (excluding spending on beauty brands and Duracell batteries that were reported as discontinued operations). The 10-K for year ended June 2016 said this about marketing spending in fiscal 2015 (year ended June 2015): "Marketing spending as a percentage of net sales decreased 60 basis points behind lower spending due to efficiency efforts," reiterating a statement (shown below) made in the 10-K for year ended June 2015.

    2015: "Marketing spending as a percentage of net sales decreased 60 basis points behind lower spending due to efficiency efforts," according to the 10-K for year ended June 2015. That implies marketing spending was about 15.07% of net sales (modeled on the fiscal-2014 and fiscal-2013 percentages shown below). That in turn implies worldwide marketing spending of $11.495 billion in year ended June 2015 (excluding spending on pet food and Duracell, which were reported as discontinued operations). (Estimated worldwide marketing spending, calculated as 15.07% of net sales for year ended June 2015 as restated in the 10-K published for year ended June 2016, was $10.662 billion; that factors out spending on beauty brands that P&G sold to Coty in 2016.) The 10-K for year ended June 2015 said this about marketing spending in fiscal 2014 (year ended June 2014):"Marketing spending as a percentage of net sales decreased 80 basis points primarily due to lower spending behind a focus on more efficient marketing support and scale benefits from increased net sales," reiterating a statement (shown below) made in the 10-K for year ended June 2014.

    2014: "Marketing spending as a percentage of net sales decreased 80 basis points primarily due to lower spending behind a focus on more efficient marketing support and scale benefits from increased net sales," according to the 10-K for year ended June 2014. That implies marketing spending was about 15.67% of sales (modeled on the fiscal-2013 percentage shown below).Then-CFO (now CEO) Jon Moeller in November 2014 said marketing was "roughly at $13 billion spend pool"; $13 billion equals 15.65% of stated revenue for year ended June 2014 (including Duracell and excluding pet food), tracking closely to the implied 15.67%.

    2013: Implied worldwide advertising plus other marketing costs of $13.864 billion (before later restatements following P&G's divestitures of pet food and Duracell). This is Ad Age Datacenter's estimate of spending based on the 10-K's noting a "10 basis point increase in marketing spending as a percentage of net sales," which implied 16.47% of sales (modeled on the fiscal-2012 percentage shown below from February 2013; figures do not factor in P&G's restatements of advertising and sales following divestitures).

    2012: Stated worldwide advertising plus other marketing costs of $13.700 billion. Figure stated in February 2013. Based on stated sales and ad-spending figures at the time (before later post-divestiture restatements), that implied 16.37% of sales; implying 5.20% or $4.355 billion in "other marketing costs" since stated advertising costs were 11.17%. That implies that advertising accounted for 68.21% of advertising plus other marketing costs. (P&G in September 2012 disclosed rounded percentages of "11.2%" for advertising and "5.3%" for other marketing.)

    2011: Estimated $13.300 billion. Estimated figure based on chart P&G released in February 2012 that showed fiscal 2011 "advertising plus other marketing costs" was about 16.40% of sales. That implies 5.04% or $4.090 billion in "other marketing costs" since stated advertising costs were 11.36%. That implies that advertising accounted for 69.25% of advertising plus other marketing costs. Dollar figures calculated on fiscal 2011 revenue and ad costs as restated in year-end June 2012 10-K. (The company said fiscal 2011 marketing spending as a percentage of net sales increased "due to additional marketing investments to support innovation and expansion plans.")

    2010: Estimated $12.255 billion. Estimated figure based on year-end June 2012 10-K stating that fiscal 2011 "marketing spending as a percentage of net sales increased 60 basis points," or 0.60 percentage points, which implies that fiscal 2010 "advertising plus other marketing costs" was about 15.80% of sales. That implies 4.87% or $3.780 billion in "other marketing costs" since stated advertising costs were 10.93%. That implies that advertising accounted for 69.16% of advertising plus other marketing costs. Dollar figures calculated on fiscal 2010 revenue and ad costs as restated in year-end June 2012 10-K. (P&G said fiscal 2010 marketing spending as a percentage of net sales rose "as additional marketing investments, primarily to increase media impressions, and the impact of reduced spending in the fourth quarter of 2009 were partially offset by media rate savings.")

    2009: Estimated $10.918 billion. Estimated figure based on chart P&G released in February 2012 that showed fiscal 2009 "advertising plus other marketing costs" was, by Ad Age Datacenter interpretation, about 14.50% of sales. That implies 4.60% or $3.465 billion in "other marketing costs" since stated advertising costs were 9.90%. That implies that advertising accounted for 68.26% of advertising plus other marketing costs. Dollar figures calculated on fiscal 2009 revenue and ad costs as restated in year-end June 2012 10-K. (P&G said fiscal 2009 marketing spending as a percentage of net sales fell "for the total company and for each reportable segment mainly due to media rate reductions, foreign exchange and reductions in the amount of media purchased primarily in the fourth fiscal quarter," the quarter ended June 30, 2009, which also marked the end of the U.S. Great Recession [December 2007 through June 2009].)

    2008: Estimated $11.950 billion. Estimated figure based on chart P&G released in February 2012 that showed fiscal 2008 "advertising plus other marketing costs" was, by Ad Age Datacenter interpretation, about 15.38% of sales. That implies 4.53% or $3.524 billion in "other marketing costs" since stated advertising costs were 10.84%. That implies that advertising accounted for 70.51% of advertising plus other marketing costs. Dollar figures calculated on fiscal 2008 revenue and ad costs as restated in year-end June 2012 10-K.

    2007: Estimated $10.890 billion. Estimated figure based on chart P&G released in February 2012 that showed fiscal 2007 "advertising plus other marketing costs" was, by Ad Age Datacenter interpretation, about 15.32% of sales. That implies 4.47% or $3.176 billion in "other marketing costs" since stated advertising costs were 10.85%. That implies that advertising accounted for 70.84% of advertising plus other marketing costs. Dollar figures calculated on fiscal 2007 revenue and ad costs as restated in year-end June 2012 10-K.

    2006: Estimated $9.947 billion. Estimated figure based on chart P&G released in February 2012 that showed fiscal 2006 "advertising plus other marketing costs" was, by Ad Age Datacenter interpretation, about 15.44% of sales. That implies 4.56% or $2.937 billion in "other marketing costs" since stated advertising costs were 10.88%. That implies that advertising accounted for 70.47% of advertising plus other marketing costs. Dollar figures calculated on fiscal 2006 revenue and ad costs as shown in year-end June 2011 10-K.

    Deals and strategic moves:

    Acquisitions:

    P&G's 10-K for year ended June 2023 said "acquisition activity used cash of $765 million in 2023, primarily related to a Beauty acquisition." Acquisitions included Mielle Organics, a U.S. hair care brand targeting Black women.

    P&G's 10-K for year ended June 2022 said "acquisition activity used cash of $1.4 billion in 2022, primarily related to Beauty acquisitions of Farmacy Beauty, Ouai and Tula."

    P&G in January 2022 bought Tula Skincare, a premium skin care marketer based in New York and founded in 2014. Tula markets probiotic, superfoods-based skin care products.

    The company in December 2021 bought Ouai, a hair care and personal care brand founded by celebrity hairstylist Jen Atkins.

    P&G in November 2021 bought Farmacy Beauty, a skin care brand introduced in 2015 and based in New York.

    P&G's 10-K for year ended June 2021 said "acquisition activity used cash of $34 million in 2021, primarily related to a minor Health Care acquisition."

    P&G in April 2021 bought Voost, an Australian marketer of effervescent supplements. Voost was founded in 2013.

    P&G and Billie, a subscription-based, direct-to-consumer brand of women's shaving supplies and body care products, in January 2021 terminated a deal (announced in January 2020) for P&G to buy Billie. The move came after the Federal Trade Commission in December 2020 sued to block the acquisition, alleging that P&G, marketer of the Gillette and Venus wet-shave brands as well as electric razor brand Braun, would "eliminate growing competition that benefits consumers" if the deal went through. In a statement, P&G and Billie said: "After due consideration, we have mutually agreed that it is in both companies' best interests not to engage in a prolonged legal challenge, but instead to terminate our agreement and refocus our resources on other business priorities."

    P&G's 10-K for year ended June 2020 said "acquisition activity used cash of $58 million in 2020, primarily related to final contractual payments from the prior year acquisition of Merck OTC along with a minor Baby Care acquisition."

    P&G's 10-K for year ended June 2019 said "acquisition activity used cash of $3.9 billion in 2019, primarily related to the Merck OTC acquisition."

    The company in February 2019 bought This is L., a marketer of feminine-care products made with organic cotton, for an undisclosed price.

    P&G in December 2018 bought Walker & Co., a direct-to-consumer marketer of Bevel and Form Beauty personal-care products for people of color, for an undisclosed price.

    P&G in November 2018 completed a deal, announced in April 2018, to buy the Consumer Health business of Germany's Merck KGaA for $3.7 billion (based on exchange rates at the time of closing). P&G said the acquisition replaced a joint venture that P&G had with Teva Pharmaceutical Industries (see discussion elsewhere in this profile). In announcing the deal, P&G said: "The $1 billion Consumer Health business of Merck KGaA ... grew 6% over the past two years and provides a broad range of OTC product remedies to relieve muscle, joint and back pain, colds and headaches as well as products for supporting physical activity and mobility. Top brands include Neurobion, Dolo-Neurobion, Femibion, Nasivin, Bion3, Seven Seas and Kytta, along with many others. These are sold primarily in Europe, Latin America and Asia." Merck KGaA is a separate company from U.S.-based pharma marketer Merck & Co.

    P&G's 10-K for year ended June 2018 said "acquisition activity used cash of $109 million in [fiscal] 2018, primarily related to acquisitions in the Beauty segment."

    P&G in November 2017 bought Native, a San Francisco-based direct marketer of deodorants.

    P&G's 10-K for year ended June 2017 said "acquisition activity was not material in 2017 or 2016."

    P&G's 10-K for year ended June 2016 said "acquisition activity was not material in 2016 or 2015."

    P&G's 10-K for year ended June 2015 said "acquisition activity was not material in 2015 or 2014."

    P&G's 10-K for year ended June 2014 said "acquisition activity was not material in 2014."

    P&G spent $1.1 billion cash on acquisitions in the year ended June 2013, primarily for the acquisition of its partner's interest in a joint venture in Iberia.

    P&G in March 2012 bought New Chapter, a Vermont-based vitamin supplement business. P&G spent $134 million cash on acquisitions in the year ended June 2012, primarily for New Chapter.

    P&G in year ended June 2011 spent $474 million cash on acquisitions, primarily for Ambi Pur.

    P&G in July 2010 bought Sara Lee Corp.'s Ambi Pur for about $400 million. Ambi Pur was a global air freshener brand sold in 80 countries, with a strong presence in Western Europe and Asia. The business generated annual sales of about 260 million euros ($355 million) in fiscal 2009. In its 10-K for year ended June 2010, P&G said: "We are aggressively working to merge the product innovation and geographic expansion plans of Ambi Pur with the Febreze franchise."

    Smaller acquisitions completed in year ended June 2010 included MDVIP, a physicians' network focused on preventative medicine.

    P&G's 10-K for year ended June 2010 said: "[Total corporate] acquisitions used $425 million of cash in [year ended June] 2010 primarily for the acquisition of Natura."

    P&G in June 2009 bought Art of Shaving, a chain of stores that sells pricey men's shaving products.

    P&G in September 2008 bought Nioxin Research Laboratories, which marketed, according to P&G, "a range of innovative products that focus on the scalp to improve the appearance of thinning hair." Nioxin products are sold in salons and salon stores in more than 40 countries. P&G on Oct. 1, 2005, acquired Gillette Co., marketer of personal care products and Duracell batteries, for $53.4 billion in stock. Worldwide sales for Gillette in its most recent pre-acquisition year (the year ended Dec. 31, 2004) were $10.5 billion.

    Divestitures:

    P&G in May 2019 sold its Joy dishwashing detergent brand in the Americas and Cream Suds brand in the Americas to C-PAK Consumer Product Holdings, doing business as Prestige Value Brands, a wholly owned subsidiary of Capital Park Holdings Corp., for $30 million.

    P&G in year ended June 2017 completed a multi-year plan (begun in calendar 2014) to streamline its product portfolio by divesting, discontinuing or consolidating about 100 non-strategic brands, allowing the company to focus on a portfolio of about 65 key brands.

    Divestures included Duracell batteries, Iams pet food and 43 beauty brands including CoverGirl.

    Coty:

    P&G in October 2016 completed a deal with Coty to divest P&G's beauty products business (salon professional, hair color, cosmetics, fragrances, selected hair-styling brands) into Coty. The deal doubled Coty's size. Coty had actual worldwide net revenue of $4.349 billion in year ended June 2016. Coty had pro forma worldwide net revenue (including the acquired P&G brands) of $8.754 billion in year ended June 30, 2016.

    Sale price was $11.57 billion, consisting of $9.63 billion in total equity consideration and $1.94 billion in assumed debt.

    P&G shareholders ended up with an approximately 54% stake in the expanded Coty, while Coty's existing shareholders owned 46%.

    Under the deal, P&G divested four categories (hair care and color; retail hair color; cosmetics; fine fragrance) including 41 beauty brands (including CoverGirl, Clairol and Wella Professional).

    Brands included in the transaction were Wella Professionals (and its sub-brands), Sebastian Professional, Clairol Professional, Sassoon Professional, Nioxin, SP (System Professional), Koleston, Soft Color, Color Charm, Wellaton, Natural Instincts, Nice & Easy, VS Salonist, VS ProSeries Color, Londa/Kadus, Miss Clairol, L'image, Bellady, Blondor, Welloxon, Shockwaves, New Wave, Design, Silvikrin, Wellaflex, Forte, Wella Styling, Wella Trend, Balsam Color, Hugo Boss, Gucci, Lacoste, Bruno Banani, Escada, Gabriela Sabatini, James Bond 007, Mexx, Stella McCartney, Alexander McQueen, Max Factor and CoverGirl.

    Coty in November 2020 sold a majority stake in Coty's professional and retail hair business to buyout firm KKR. The deal included the Wella, Clairol, OPI and GHD brands. The business being divested had sales of $2.0 billion in year ended June 2020.

    Duracell:

    P&G Feb. 29, 2016, completed a deal to sell Duracell to Berkshire Hathaway.

    P&G on Nov. 13, 2014, announced that deal. That came after P&G Oct. 24, 2014, disclosed its intent to divest the battery business as a separate company, though the October announcement said P&G would consider "any alternative exit scenario--including a spin-off, divestiture or other offer--that generates equal or better value."

    The Berkshire deal worked this way: P&G contributed about $1.9 billion cash to a recapitalized Duracell Co.; Berkshire then traded all the shares it owned in P&G--worth about $4.7 billion as of November 2014 (and $4.2 billion as of Dec. 31, 2015)--for Duracell Co. (As part of the exit of the battery business, P&G in November 2014 also sold its interest in a China-based battery joint venture.)

    P&G excluded Duracell sales and expenses (such as ad costs) from its fiscal 2010 through fiscal 2015 financial results in its 10-K filed in August 2015.

    P&G acquired Duracell in P&G's 2005 purchase of Gillette Co. In the deal announcement, Berkshire Chairman-CEO Warren Buffett said: "I have always been impressed by Duracell, as a consumer and as a long-term investor in P&G and Gillette. Duracell is a leading global brand with top quality products, and it will fit well within Berkshire Hathaway."

    Pet food:

    P&G exited the pet-food business in calendar 2014.

    First, P&G July 31, 2014, completed a deal to sell 80% of its global pet-food business (including North America and Latin America operations) to Mars Inc. Mars paid $2.9 billion cash to buy billion-dollar (sales) brand Iams and two other brands, Eukanuba and Natura in those markets, adding them to a Mars pet-food portfolio that already included billion-dollar brands Pedigree, Whiskas, Banfield and Royal Canin.

    Mars Inc. then exercised an option to buy an additional 10% of the business in additional markets including Japan, Australia and South Africa.

    P&G Dec. 31, 2014, completed a deal (announced in September 2014) to sell its European pet-food business, representing about 10% of P&G's worldwide pet-food business, to U.S.-based Spectrum Brands. In announcing completion of the deal, Spectrum said the Iams and Eukanuba European pet-food business had annual sales of about $200 million, adding that the total European dog and cat food market was estimated to have annual sales of $21 billion with 3% to 5% annual growth.

    P&G's exit from pet food came four years after P&G expanded its pet-food business with the 2010 acquisition of Natura Pet Products, marketer of Innova, Evo, California Natural, Healthwise, Mother Nature and Karma brands.

    Effective with P&G's fiscal year ended June 2014, P&G reported pet food as a discontinued operation in both current and prior-year periods, excluding pet-food sales and expenses (such as ad costs) from financial results.

    Other divestitures:

    P&G in calendar 2017 sold Lindor, a European line of adult incontinence products, to Germany-based Hartmann Group.

    Henkel in June 2016 bought a range of hair care brands from P&G in the Africa/Middle East and Eastern Europe regions for 212 million euros ($246 million).

    P&G in calendar 2016 sold Tag, a body spray brand, to New Jersey-based My Imports USA.

    P&G in the quarter ended June 2016 sold Hipoglos, a diaper rash cream brand in Brazil, to Johnson & Johnson. Price tag wasn't disclosed.

    P&G in June 2015 sold its Rochas fragrance brand to fragrance marketer Inter Parfums for $108 million. Inter Parfums said the brand had sales of $46 million in fiscal 2013-2014.

    P&G in June 2015 sold its Frederic Fekkai hair care brand and salons to Fekkai Brands, a new joint venture formed by Designer Parfums and Luxe Brands. P&G didn't disclose the sale price. P&G bought the business in 2008.

    P&G May 1, 2015, sold its Camay and Zest brands of soap to rival Unilever. The deal involved the global sale of the Camay brand; the sale of the Zest brand outside of North America and the Caribbean; and the sale of a soap factory in Mexico that employed about 170 people at the time of the sale announcement. Unilever said the brands had turnover (sales) of $225 million in the fiscal year ended June 2014.

    P&G in March 2015 sold the U.S. portion of Vicks VapoSteam, a liquid inhalant product, to Helen of Troy, a marketer of personal care and household consumer products. Helen of Troy also purchased a license for Vicks VapoPad.

    Helen of Troy over time has acquired other P&G castoff brands including Pur water purification products (purchased in 2011); Sure and Pert Plus (purchased in 2010); and Infusium23 hair care products (bought in 2009). (P&G in 2006 sold Pert Plus Shampoo and Sure antiperspirant and deodorant to Innovative Brands. Innovative Brands sold Pert Plus and Sure in March 2010 to Helen of Troy. Helen of Troy markets the line through its Idelle Labs division. Unilever sells a deodorant in the U.K. called Sure; it markets that product as Degree in the U.S. and as Rexona in Europe, Australia, Asia and Latin America.)

    P&G in January 2011 had sold its Zest soap business in the U.S., Canada and Puerto Rico to Brynwood Partners, a buyout firm. Brynwood operated the business as High Ridge Brands Co. High Bridge up through 2016 bought other brands including the Alberto VO5 brand in the U.S. and worldwide marketing and brand rights to the Rave brand from Unilever; global rights to the Coast soap brand from Henkel; the White Rain brand from Sun Products; Continental Fragrances, owner of the Salon Grafix and High Beams brands; and several smaller personal care brands from Newhall Laboratories. Brynwood in 2016 sold High Ridge to another buyout firm. High Ridge in December 2019 filed for Chapter 11 bankruptcy. Tengram Capital Partners, a buyout firm, in April 2020 bought High Ridge's hair care and skin cleansing business, including Zest, Alberto VO5, Coast, White Rain, LA Looks, Zero Frizz, Rave, Salon Grafix and Thicker Fuller Hair.

    P&G in year ended June 2015 sold its Wash & Go hair care brand and Laura Biagotti fragrance brand.

    P&G in year ended June 2014 sold its bleach business (marketed under the Ace, Magia Blanca and Lavansan Laundry Bleach brands) in Central and Eastern Europe, Middle East and Africa and Latin America, signaling P&G's full exit from the bleach business. The company in year ended June 2013 sold its Italy bleach market. (P&G owned U.S. bleach marketer Clorox Co. from 1957 to 1969.)

    P&G in April 2012 sold perpetual rights to market Braun small appliances to Italian appliance firm De'Longhi. P&G retained rights to market Braun electric razors. Braun came into the P&G fold with P&G's 2005 acquisition of Gillette Co.

    P&G on May 31, 2012, sold its Pringles snack business to Kellogg Co. for $2.695 billion cash. Kellogg said: "Pringles is the world's second-largest player in savory snacks, with $1.5 billion in sales across more than 140 countries and manufacturing operations in the U.S., Europe and Asia." P&G and Kellogg announced the Pringles deal on Feb. 15, 2012, the same day P&G said it and Diamond Foods had mutually terminated an April 2011 agreement for Diamond to buy Pringles in a transaction valued at $2.35 billion. Diamond in 2012 was grappling with major accounting issues and management flux, making it less likely that Diamond would complete the deal. Pringles was developed in-house by P&G. (Snyder's-Lance, a snack marketer, in October 2015 signed a deal to buy Diamond Foods.)

    P&G in December 2011 sold its Pur brand of water purification products to Helen of Troy. The sale included the worldwide Pur trademark, its current and future product line, assets related to the operations of the Pur business, manufacturing equipment and more than 200 patents. Helen of Troy said Pur sales for the 12 months ending Dec. 31, 2012, were expected to exceed $110 million.

    P&G bought Pur in 1999 for $213 million, according to a research note from Deutsche Bank, which said sales grew from $71 million that year to $160 million in 2005. The sale to Helen of Troy did not include P&G's Children's Safe Drinking Water corporate philanthropy program. The powder product and patents used in that program remained with P&G, which planned to transition that effort to the P&G corporate name.

    Also in fiscal 2011, P&G divested the Infasil deodorant/personal care brand in Western Europe. P&G generated $225 million cash from fiscal 2011 asset sales, mainly due to the sale of Infasil and Zest.

    P&G discontinued the Max Factor brand in the U.S. effective in the first quarter of calendar 2010. P&G continued selling the cosmetics brand in 70 other countries, including 20 where it was the No. 1 brand, and in the U.K. and Russia, where it was the No. 2 brand. P&G bought the Max Factor and Betrix lines of cosmetics and fragrances from Revlon for $1 billion in 1991.

    P&G in October 2009 sold its global pharmaceuticals business to Warner Chilcott, a pharma firm based in Ireland. P&G generated $3.1 billion cash from fiscal 2010 asset sales, mainly due to the sale of the pharmaceuticals business. (Warner Chilcott later morphed into Actavis Plc.)

    P&G in March 2009 sold Johnson Products Co. to a group backed by two Southern California buyout firms, Rustic Canyon/Fontis Partners and St. Cloud Capital. Johnson Products markets African American hair care products. Terms weren't disclosed. P&G bought the company in 2003.

    P&G on Oct. 1, 2008, sold the Noxzema skin care business in the United States, Canada and portions of Latin America, as well as the worldwide rights and trademarks to the Noxzema brand, to Alberto-Culver Co. for $81 million cash. P&G bought Noxell Corp., marketer of Noxzema and CoverGirl, in 1989. P&G rival Unilever in 2011 acquired Alberto-Culver.

    P&G in September 2008 sold ThermaCare, an over-the-counter heat wrap, to Wyeth. Pfizer bought Wyeth in 2009.

    P&G in November 2008 sold its Folgers coffee business to J.M. Smucker Co. Smucker valued the purchase price at $3.7 billion. Under the agreement, Folgers was spun off to shareholders and then simultaneously merged into Smucker; P&G shareholders ended up with a 53.5% stake in Smucker. The venerable jam marketer in 2002 bought two other P&G brands, Jif peanut butter and Crisco shortening. (Smucker in May 2008 added another brand, buying the Knott's Berry Farm jams and jellies business from ConAgra Foods.) P&G acquired Folgers in 1963.

    P&G in October 2007 had said it was exploring options for divesting its coffee and snack businesses, including Folgers and Pringles. P&G in January 2008 said it intended to split off or spin off Folger's between July and December 2008. It said the coffee business had $1.6 billion in sales and operating income of $350 million in the year ended June 2007. P&G bought Folgers in 1963.

    In early 2006, P&G sold the Yardley soap brand to Lornamead Brands in the U.K. Yardley had limited U.S. distribution.

    In calendar 2005 and 2006, P&G made several divestitures in the wake of its 2005 Gillette acquisition. The merged company, in compliance with Federal Trade Commission approval, sold Right Guard, Soft & Dri and Dry Idea to Henkel (Dial) for "$420 million in May 2006. P&G in late 2005 sold Gillette's Rembrandt oral care line to Johnson & Johnson and P&G's battery-powered SpinBrush toothbrush to Church & Dwight for $75 million.

    Management and employees:

    P&G July 29, 2021, promoted Jon R. Moeller to president-CEO from chief operating officer effective Nov. 1, 2021.

    Moeller succeeded David S. Taylor as president-CEO. Taylor continued as chairman with the new title of executive chairman until July 1, 2022, when Taylor retired and Moeller added the chairman title.

    Moeller, who was born in Chicago and educated at Cornell University, joined P&G in 1988 and served as CFO for 12 years.

    P&G July 28, 2015, promoted Taylor to president-CEO. Taylor added the title of chairman effective July 1, 2016, when former CEO Alan George "A.G." Lafley stepped down as executive chairman.

    History:

    Procter & Gamble was incorporated in Ohio in 1905, building on a business founded in 1837 by William Procter and James Gamble. The company celebrated its 175th anniversary in 2012.

    https://us.pg.com

Progressive Corp.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Progressive Corp. is an insurance company that markets insurance directly via the internet, mobile devices and over the phone and indirectly through agents.

    Progressive operates throughout the United States.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide ad spending figures shown in the Ad Age World's Largest Advertisers report and related database are Progressive's stated "total advertising costs."

    U.S. ad spending:

    Total U.S. ad spending figures shown in the Ad Age Leading National Advertisers report and related database are Progressive's stated total advertising costs.

    Progressive's ad spending fell 5.0% in 2022 and 1.7% in 2021, halting a record of annual spending increases that dated back almost two decades. Progressive previously disclosed year-on-year ad spending increases every year from 2003 through 2020; Progressive said ad spending in 2002 was "approximately the same as 2001."

    Progressive's 10-K filing for the year ended December 2022 said: "In total, our advertising spend decreased 5% during 2022, compared to the prior year, as a result of an effort to improve profitability...."

    That 10-K said:

    "We maintained discipline in our media budget and reduced targeted media spend in certain types of advertising, based on performance against our media and underwriting targets. Our total advertising spend was 5% lower in 2022, compared to the prior year.

    "Consistent with rate actions, management will continue to assess where additional non-rate actions, including adjusting underwriting criteria, bill plans, or advertising spend, may be needed."

    Progressive's 10-K filing for the year ended December 2021 said the company in 2021 "decreased our advertising spend in an effort to improve profitability...."

    That 10-K said:

    "Amid the ever-changing business climate, our marketing team flexed to deliver meaningful content to our target audiences. Thoughtfully, we adjusted our media spend when necessary to ensure our expenses and growth aligned with our profitability goals.

    "Reducing our advertising spend is not something we like to do but was necessary under the circumstances. The great news is that our Progressive Brand is one that consumers readily recognize and respect.

    "Our data-based approach to media provided us flexibility to alter our spend while minimizing long-term impact and it also gave us the opportunity to better understand what was and was not working. The learnings we've gained will make us more agile and even more precise when we return to growing our advertising."

    The company said in its 10-K for year ended December 2020:

    "On a year-over-year basis, our advertising expenditures increased 18% and 29% in 2020 and 2019, respectively. We will continue to invest in advertising as long as we generate sales at a cost below the maximum amount we are willing to spend to acquire a new customer."

    In its 10-K filings, Progressive reported the following "total advertising costs":

    2022: $2.033 billion

    2021: $2.140 billion

    2020: $2.176 billion

    2019: $1.837 billion

    2018: $1.422 billion

    2017: $1.005 billion

    2016: $756.2 million

    2015: $748.3 million

    2014: $681.8 million

    2013: $619.3 million

    2012: $546.8 million

    2011: $543.0 million

    Progressive also reports "advertising" expenses on its Combined Annual Statements filed with regulators.

    Progressive's "advertising"expenses on its Combined Annual Statements (and Combined Annual Statements' "advertising" expenses as a share of stated 10-K worldwide "total advertising costs"):

    2022: $1,730,738,438 (85.2%)

    2021: $1,873,701,306 (87.6%)

    2020: $1,951,974,305 (89.7%)

    2019: $1,661,861,749 (90.5%)

    2018: $1,285,952,622 (90.4%)

    2017: $910,750,465 (90.6%)

    2016: $688,697,397 (91.1%)

    2015: $696,238,149 (93.0%)

    2014: $646,773,731 (94.9%)

    2013: $595,375,257 (96.1%)

    2012: $525,974,149 (96.2%)

    History:

    The Progressive insurance organization began business in 1937. Progressive Corp., an insurance holding company, formed in 1965.

    https://www.progressive.com

Rakuten Group

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Rakuten, founded in 1997 as an internet shopping mall in Japan, is a global firm encompassing more than 70 businesses involved in e-commerce, digital content, communications, advertising technology and financial technology.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Rakuten's stated worldwide "advertising and promotion expenditures" converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    Rakuten disclosed the following worldwide "advertising and promotion expenditures" for calendar year:

    2022: 364.948 billion yen ($2.797 billion).
    2021: 347.959 billion yen ($3.172 billion).
    2020: 264.063 billion yen ($2.474 billion).
    2019: 230.842 billion yen ($2.117 billion).
    2018: 193.279 billion yen ($1.751 billion).
    2017: 152.383 billion yen ($1.359 billion).
    2016: 121.286 billion yen ($1.118 billion).
    2015: 100.554 billion yen ($832 million).
    2014: 83.884 billion yen ($795 million).

    Deals and strategic moves:

    Selected U.S. deals and strategic moves:

    Rakuten in summer 2020 closed its U.S. store (U.S. Rakuten Marketplace). The business originated as Buy.com, which Rakuten bought in July 2010.

    Rakuten in October 2014 bought Ebates, a U.S. membership-based online cash-back site. The deal included FatWallet, a comparison shopping site acquired by Ebates in 2011. Rakuten closed FatWallet in October 2017. Ebates now operates as Rakuten Rewards.

    The company in October 2005 entered the U.S. affiliate marketing business by acquiring LinkShare Corp. (now Rakuten Marketing).

    Stock:

    Rakuten went public in April 2000 in Japan.

    History:

    MDM Inc. was founded in February 1997.

    MDM in May 1997 launched Rakuten Ichiba, an internet shopping mall in Japan with 13 participating merchants.

    MDM in June 1999 was renamed Rakuten Inc.

    Rakuten Ichiba was named after Rakuichi-Rakuza, a marketplace that opened in Japan in the 16th century. The company said "Rakuten Ichiba" literally means a "market of positive spirit" where shopping is entertainment.

    The company bills Rakuten Ichiba as Japan's largest internet shopping mall.

    https://global.rakuten.com/corp

Reckitt

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Reckitt is a personal care, health care and cleaning products marketer based in the U.K.

    Reckitt Benckiser Group in March 2021 rebranded as "Reckitt." Its legal name remains Reckitt Benckiser Group.

    The company previously went by the identity "RB." The company's annual report for year ended December 2013 said: "It was decided to change the trading name of the company to 'RB,' moving away from the harder to say, spell and search 'Reckitt Benckiser.' There are no changes to legal entity names."

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of Reckitt's U.S. "brand equity investment."

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database was calculated by Ad Age Datacenter as follows:

    Ad Age Datacenter calculated RB's worldwide "brand equity investment," used by Ad Age as proxy for ad spending, based on Reckitt disclosures, translating figures into dollars at average exchange rates.

    Reckitt's stated or implied worldwide spending on brand equity investment as a percentage of net revenue:

    2022: 11.8%

    2021: 12.6%

    2020: 13.9%

    2019: 14.4%

    2018: 13.8%

    2017: 13.9% (restated)

    2016: 13.6% (restated)

    2015: 12.7%

    2014: 12.9%

    2013: 13.0%

    2012: 12.7%

    2011: 12.0%

    In its annual report for year ended December 2022, Reckitt said: "Brand equity investment (BEI) (excluding IFCN China) increased by +5.7% on an actual basis as we continue to invest behind the long-term strength of our brands. Our BEI percentage of net revenue was 11.8% (2021: 12.6%). The reduction of 80 bps [80 basis points; 0.8 percentage point] in 2022 was driven by a combination of leverage from the strong growth in both our OTC [over the counter] and US Nutrition businesses, cessation of investment in Russia, and productivity efficiencies."

    (Reckitt in September 2021 sold its Chinese infant formula and child nutrition, or IFCN, business to Primavera Capital Group. Reckitt in April 2022 began a process to transfer ownership of its Russian business to a third party or local employees.)

    In its annual report for year ended December 2020, Reckitt said: "Brand equity investment (BEI) was up 7%, or 138 million pounds, on a pound spent basis (at constant currency), at 13.9% of net revenue, 50bps [50 basis points; 0.5 percentage point] lower than the prior year, reflecting leverage benefits from strong net revenue growth in 2020, productivity initiatives to improve the ratio of working to non-working media spend and investments in digital talent. In absolute terms BEI increased by 5% on a reported basis."

    In its annual report for year ended December 2019, Reckitt said: "Investment behind our brands (as defined by our BEI metric) was 14.4% of net revenue, a 60 bps [60 basis points; 0.6 percentage point] increase from the prior year. Investment increased in both businesses," the Health business unit and Hygiene Home business unit, "behind the launch of new initiatives."

    In its annual report for year ended December 2018, Reckitt said: "Investment behind our brands (as defined by our BEI metric), was 13.8% of net revenue, an 80 bps [80 basis points; 0.8 percentage point] reduction on a pro forma basis and a 10 bps reduction on a reported basis. We realised significant synergies in media planning and buying following the [Mead Johnson] acquisition" in June 2017." On a pro forma basis, brand equity investment was 13.8% of revenue in 2018, down from 14.6% in 2017.

    In its annual report for year ended December 2017, Reckitt said worldwide spending on brand equity investment was 13.4% of its "base business" net revenue in 2017, down from 13.6% in 2016. Reckitt defined "base business" as RB's group results as reported excluding Mead Johnson Nutrition, which Reckitt bought in June 2017.

    In the annual report for year ended December 2017, Reckitt said: "Investment increased across the majority of our brands, with this increase offset by reduced investment behind the Scholl/Amope Wet & Dry Pedi." Reckitt said Mead Johnson Nutrition's brand equity investment increased by about 50 basis points--one half percentage point--in 2017, "driven by higher investments in key markets."

    Reckitt said its 2016 increase in brand equity investment equated to an incremental 63 million pounds--$85.5 million--increase over 2015 using constant exchange rates. (These facts came from Reckitt's annual report for year ended December 2016. Reckitt restated 2016 results in its annual report for year ended December 2017 to exclude its food business, which Reckitt sold in August 2017.)

    Reckitt said its 2015 increase in brand equity investment equated to an incremental 48 million pounds--$73.4 million--increase over 2014 using constant exchange rates.

    Reckitt said its 2014 increase in brand equity investment equated to an incremental 30 million pounds--$49.4 million--increase over 2013 using constant exchange rates.

    Reckitt said its 2013 increase in brand equity investment equated to an incremental 100 million pound--$156 million--increase over 2012 using constant exchange rates.

    In its annual report for year ended December 2012, the company said 2012 worldwide spending on "brand equity investment" (also called "brand equity building activities") rose to 12.7% of "net revenue (excluding RB Pharmaceuticals)" from 12.0% in 2011. Within that spending, Reckitt said, 2012 worldwide "pure media spend" rose 9% in constant currency to a level of 11.7% of "net revenue (excluding RB Pharmaceuticals)."

    In its annual report for year ended December 2011, the company said total worldwide marketing spending rose in 2011, with "pure media spend" up 8% (or 9% in constant currency) to 10.4% of net revenue; vs. 10.7% of revenue in 2010; and 11.1% of revenue in 2009.

    What Reckitt means by "brand equity investment":

    In its annual report for year ended December 2022, Reckitt defined brand equity investment as "the marketing support designed to capture the voice, mind and heart of our consumers."

    In its annual report for years ended December 2016 and December 2015, Reckitt said brand equity investment "includes our TV and print media spend, digital and social media investment and consumer and medical education."

    In its annual report for year ended December 2014, Reckitt said brand equity investment "includes a combination of TV and print media, digital and social media investment and consumer and medical education."

    In its annual report for year ended December 2013, Reckitt said brand equity investment "encompasses TV and print, social and digital media, and consumer and medical marketing. It is a key metric for us and represents a combination of category and penetration building activities, as well as consumer and doctor awareness and education programmes."

    In its annual report for year ended December 2012, Reckitt defined "brand equity investment" as "investing in education and communication on how to get the most from our products," including advertising in traditional and digital media and spending on "extensive consumer and professional education and information campaigns, such as new mother programmes, in-school hand washing and hygiene programmes, pharmacist education programmes and health professionals development programmes." Reckitt said in its annual report: "Combined, these activities build the equity of, and trust in, our brands."

    Reckitt in June 2017 bought Mead Johnson Nutrition Co. Mead Johnson disclosed the following worldwide advertising costs:

    2016: $223.8 million (6.0% of worldwide net sales)

    2015: $218.7 million (5.4%)

    2014: $206.2 million (4.7%)

    2013: $226.7 million (5.4%)

    2012: $180.3 million (4.6%)

    2011: $180.6 million (4.9%)

    2010: $155.3 million (4.9%)

    2009: $136.9 million (4.8%)

    2008: $115.3 million (4.0%)

    2007: $92.9 million (3.6%)

    Deals and strategic moves:

    Mead Johnson:

    Reckitt on June 15, 2017, completed a deal to buy Mead Johnson Nutrition Co., a marketer of infant formulas and other nutritional products, for $16.6 billion (or $17.9 billion including Mead Johnson's net debt). Reckitt announced the deal in February 2017.

    Mead Johnson markets the Enfa line (including Enfamil infant formula), which Mead Johnson described as "the world's leading brand franchise in pediatric nutrition" in its 10-K for year ended December 2016.

    Mead Johnson formerly was owned by Bristol-Myers Squibb Co. Bristol-Myers bought the business in 1967 and spun it off in an initial public offering in 2009. Mead Johnson was founded in 1905.

    Mead Johnson reported 2016 worldwide revenue of $3.7 billion, down 8.1% from 2015. Mead Johnson disclosed 2016 worldwide ad spending of $223.8 million (6.0% of worldwide net sales). See "Marketing Spending" section.

    Indivior (formerly RB Pharmaceuticals) spinoff:

    Reckitt in December 2014 spun off its RB Pharmaceuticals unit as a separate U.K.-based public company, Indivior.

    Reckitt in October 2013 had announced a "strategic review" of RB Pharmaceuticals, a small player in the global pharma market that sells Suboxone and Subutex, treatments for opiate dependence. Reckitt in July 2014 said it would pursue a demerger of RB Pharmaceuticals.

    Reckitt in 2013 began to face U.S. generic competition for Suboxone. Reckitt withdrew its Suboxone tablets from the U.S. market in March 2013 but continued to sell the drug in a sublingual film version.

    Reckitt said in its annual report for year ended December 2013: "We have consistently said that, once generic competition to RB Pharmaceuticals' Suboxone had been on the market in the U.S. for a number of months, we would examine all the options for what is a very valuable asset. That review is ongoing and we will update our shareholders during 2014."

    Reckitt said in its annual report for year ended December 2013: "Our RB Pharmaceuticals' business may face price pressure or share loss from the increased branded and generic competition that is entering the market both in the US and in the rest of world leading to a material reduction in net revenue from this product adversely affecting our overall revenues and operating profit."

    Food business sale:

    Reckitt in August 2017 sold its food business, including the French's, Frank's RedHot and Cattlemen's brands, to spice marketer McCormick & Co. for $4.21 billion (net of acquired cash of $24.3 million). The deal was announced in July 2017.

    Reckitt in April 2017 had said it was beginning a strategic review of the food business. Reckitt's key food brand was French's, a U.S. mustard brand. The company said: "French's Food is a truly fantastic business with great brands, people and a history of outperformance. It is nevertheless non core to RB. We have therefore decided to initiate a strategic review of Food where we will explore all options for this great business."

    Other deals:

    Reckitt in June 2021 sold its Scholl business to Boston-based buyout firm Yellow Wood Partners. Reckitt in August 2014 licensed the Scholl brand outside the Americas to German investment firm Aurelius for use in the footwear market; Reckitt at that time kept the non-Americas Scholl-brand foot-care business, such as insoles. (Scholl came into Reckitt in 2010 when Reckitt bought SSL International, marketer of Durex condoms and, outside North America and Latin America, Scholl footwear and foot-care products.) Yellow Wood in 2019 bought the Dr. Scholl's brand in the Americas from German firm Bayer. (Bayer had acquired Dr. Scholl's with its 2014 purchase of Merck's Merck Consumer Care business.) Yellow Wood's 2021 deal with Reckitt gave Yellow Wood global control of the Scholl brand.

    Reckitt in October 2016 bought Hypermarcas' Brazilian condom and lubricants business (Nances Holdings) for 671 million Brazilian real ($206 million). Hypermarcas was the leading Brazilian condom manufacturer through its three brands--Jontex, Olla and Lovetex.

    Reckitt in May 2014 bought K-Y, a brand of personal lubricants, from Johnson & Johnson. K-Y started as a prescription medical device in 1917 and switched to an over-the-counter product in 1980. Reckitt already owned another sex-related product, Durex condoms. Reckitt said K-Y had 2013 worldwide revenue of more than $100 million. K-Y is sold in more than 50 countries, with the U.S., Canada and Brazil accounting for the majority of 2013 sales. The sale to RB was approved in all markets except New Zealand, where Reckitt was unable to acquire the brand for antitrust reasons. The U.K. regulatory authority in August 2015 approved the deal on condition that Reckitt license the brand to a competitor in Britain for eight years.

    Reckitt on April 28, 2014, disclosed that Reckitt was "in discussions with Merck regarding an offer for [Merck's] consumer health business. We understand that we are part of a competitive process." Two days later, Reckitt said: "RB now confirms that it is no longer in active discussion regarding an offer for Merck's consumer health business." Merck May 6, 2014, announced a deal to sell the consumer business to Bayer; Bayer completed that deal in October 2014.

    Reckitt and Bristol Myers Squibb in May 2013 began a three-year "collaboration" involving several over-the-counter products sold primarily in Mexico and Brazil. Net sales of these products were about $100 million in 2012. During the three-year period, Reckitt was responsible for sales, distribution and marketing; Bristol Myers Squibb supplied the products. Reckitt in July 2015 exercised options to buy the brands and a Bristol Myers Squibb factory in Mexico that makes the products at the end of the collaboration period in May 2016.

    Reckitt in December 2012 acquired Schiff Nutrition International, a U.S. marketer of vitamins, nutrition supplements and nutrition bars, for $1.4 billion. Schiff brands included MegaRed, Move Free and Airborne supplements and Schiff Vitamins. Schiff in March 2012 had acquired Airborne Inc. for $150.2 million from GF Capital, a New York buyout firm that bought Airborne in October 2009.

    Schiff reported advertising and marketing expenses (excluding promotional incentives) of $44.5 million in year ended May 2012; $21.2 million in year ended May 2011; and $20.2 million in year ended May 2010. Schiff reported advertising costs, including cooperative advertising payments to retailers, of $37.0 million in year ended May 2012; $15.7 million in year ended May 2011; and $15.1 million in year ended May 2010. (Schiff Nutrition International was known as Weider Nutrition International until 2005, when the company sold its Weider branded business and Haleko business unit. Joe Weider, the bodybuilding enthusiast behind Weider Nutrition, died in March 2013 at age 93.)

    Reckitt said in its annual report for year ended December 2012 that the Schiff acquisition "gave us a powerful entry into the large and growing global vitamins, minerals and supplements market. This is one of the largest consumer health care categories in the world and we now have a strong platform in the US--the world's largest market in this category--from which to grow in this new area."

    Reckitt in January 2008 paid $2.3 billion to acquire Adams Respiratory Therapeutics, marketer of Mucinex, the top-selling over-the-counter expectorant in the U.S., and Delsym, a 12-hour liquid cough suppressant.

    Reckitt in February 2006 bought Boots Healthcare International, the consumer health care unit of U.K.-based Boots Group. The acquired Boots brands included Clearasil, an acne skin care brand that Boots had purchased from Procter & Gamble Co. in 2000.

    Relationship with JAB Holding Co.:

    Investor JAB Holding has cut its Reckitt stake in recent years.

    Reckitt's annual reports for calendar 2022, 2021, 2020, 2019 and 2018 did not show JAB among shareholders with "substantial interests (3% or more)."

    JAB Holding held a 6.0% stake in Reckitt in March 2018, according to Reckitt's annual report for calendar 2017.

    JAB Holding held an 8.9% stake in March 2017 and March 2016; 10.6% stake in March 2015; 10.7% in March 2014; 10.7% in March 2013; 15.4% in March 2012; and 15.3% in March 2011.

    JAB Holding, based in the Netherlands, holds the investments of the family of Johan A. Benckiser, who in 1823 founded what would evolve into Reckitt.

    The family in 1996 split its package-goods holdings into two companies: Coty, a beauty products marketer it had acquired in 1992; and Benckiser, a cleaning-products marketer. The cleaning products business in 1997 went public in the Netherlands as Benckiser NV. In 1999, Benckiser NV (then 59% owned by JAB) merged with the U.K.'s Reckitt & Colman to form Reckitt Benckiser.

    Coty in June 2013 went public through a U.S. initial public stock offering. Before and after the IPO, JAB Holding controlled Coty.

    Management and employees:

    Reckitt named Kris Licht as CEO designate effective May 1, 2023. Licht became CEO at the end of 2023, succeeding Nicandro Durante.

    Before becoming CEO, Licht was president of Reckitt's health business and chief customer officer since 2020.

    Durante, who had been a Reckitt board member, stepped into the role of CEO after CEO Laxman Narasimhan resigned effective Sept. 30, 2022, to become CEO of Starbucks Corp.

    https://www.reckitt.com

Recruit Holdings Co.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Recruit Holdings Co. is a media and services company based in Tokyo.

    The company has acquired U.S. brands including jobs sites Indeed and Glassdoor.

    Business segments and operations:

    Recruit Holdings reports its operations through three segments:

    HR Technology (Indeed, Glassdoor and other related businesses).

    Matching and Solutions (consisting of two businesses mainly in Japan: Marketing Solutions and HR Solutions).

    Staffing (Japan, Europe, U.S, Australia, primarily offering temporary staffing services for clerical, manufacturing, light industry and various professional positions).

    Sales and earnings:

    Recruit changed its accounting to International Financial Reporting Standards from Japanese generally accepted accounting principles effective for year ended March 2018 (fiscal 2017).

    Marketing spending:

    Worldwide ad spending:

    Total worldwide ad spending figures shown in the Ad Age World's Largest Advertisers report and related database are Recruit Holdings' stated worldwide "advertising expenses" plus "promotion expenses" converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    Recruit Holdings disclosed the following worldwide "advertising expenses" under International Financial Accounting Standards:

    2022 (year ended March 2023): 264.9 billion yen ($1.960 billion)

    2021 (year ended March 2022): 231.3 billion yen ($2.060 billion)

    2020 (year ended March 2021): 141.8 billion yen ($1.337 billion)

    2019 (year ended March 2020): 173.2 billion yen ($1.594 billion)

    2018 (year ended March 2019): 159.2 billion yen ($1.436 billion)

    2017 (year ended March 2018): 138.1 billion yen ($1.247 billion)

    Recruit Holdings disclosed the following worldwide "promotion expenses" under IFRS:

    2022 (year ended March 2023): 78.8 billion yen ($583.1 million)

    2021 (year ended March 2022): 58.1 billion yen ($517.3 million)

    2020 (year ended March 2021): 42.1 billion yen ($397.1 million)

    2019 (year ended March 2020): 47.7 billion yen ($439.0 million)

    2018 (year ended March 2019): 42.5 billion yen ($383.3 million)

    2017 (year ended March 2018): 42.9 billion yen ($387.4 million)

    Sum of Recruit Holdings' stated "advertising" and "promotion" expenses under IFRS:

    2022 (year ended March 2023): 343.7 billion yen ($2.543 billion)

    2021 (year ended March 2022): 289.3 billion yen ($2.578 billion)

    2020 (year ended March 2021): 183.9 billion yen ($1.734 billion)

    2019 (year ended March 2020): 220.9 billion yen ($2.033 billion)

    2018 (year ended March 2019): 201.7 billion yen ($1.819 billion)

    2017 (year ended March 2018): 181.0 billion yen ($1.634 billion)

    Recruit Holdings disclosed the following worldwide "advertising expenses" under Japanese GAAP:

    2016 (year ended March 2017): 104.1 billion yen ($962.9 million)

    2015 (year ended March 2016): 98.1 billion yen ($817.2 million)

    2014 (year ended March 2015): 78.7 billion yen ($720.1 million)

    2013 (year ended March 2014): 71.9 billion yen ($718.3 million)

    2012 (year ended March 2013): 57.4 billion yen ($688.8 million)

    2011 (year ended March 2012): 44.7 billion yen ($566.3 million)

    Recruit Holdings disclosed the following worldwide "promotion expenses" under Japanese GAAP:

    2016 (year ended March 2017): 43.7 billion yen ($404.2 million)

    2015 (year ended March 2016): 35.5 billion yen ($295.7 million)

    2014 (year ended March 2015): 35.3 billion yen ($323.0 million)

    2013 (year ended March 2014): 28.6 billion yen ($285.7 million)

    2012 (year ended March 2013): 22.3 billion yen ($267.6 million)

    2011 (year ended March 2012): 20.6 billion yen ($261.0 million)

    Sum of Recruit Holdings' stated "advertising" and "promotion" expenses under Japanese GAAP:

    2016 (year ended March 2017): 147.8 billion yen ($1.367 billion)

    2015 (year ended March 2016): 133.6 billion yen ($1.113 billion)

    2014 (year ended March 2015): 114.0 billion yen ($1.043 billion)

    2013 (year ended March 2014): 100.5 billion yen ($1.004 billion)

    2012 (year ended March 2013): 79.7 billion yen ($956.4 million)

    2011 (year ended March 2012): 65.3 billion yen ($827.4 million)

    Numbers are rounded.

    Deals and strategic moves:

    Fishbowl:

    Glassdoor, through parent Recruit Holdings, in September 2021 bought Fishbowl, a social network used by more than one million professionals for conversations about anything career, industry and workplace-related. Glassdoor rebranded it as Fishbowl by Glassdoor after the acquisition. Fishbowl started in 2016.

    Glassdoor:

    Recruit Holdings in June 2018 bought Glassdoor for $1.2 billion. Glassdoor, founded in 2007, is a California-based job and recruiting company known for its employee ratings of workplaces. It had about 750 employees at the time of the acquisition. Recruit Holdings said Glassdoor had revenue of $171 million in year ended March 2018.

    Indeed:

    Recruit Holdings in 2012 bought Indeed, a U.S.-based job search engine.

    History:

    The company was founded March 31, 1960, as a job advertisement business for college students.

    The company was incorporated Aug. 26, 1963.

    Recruit Co. in October 2012 changed its name to Recruit Holdings Co.

    https://www.recruit-holdings.com

Restaurant Brands International

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Restaurant Brands International is the Canada-based parent of four restaurant chains: Burger King, Firehouse Subs, Tim Hortons and Popeyes.

    Restaurant Brands in December 2021 bought Jacksonville, Florida-based FRG (Firehouse Restaurant Group), franchisor of Firehouse Subs.

    Restaurant Brands in March 2017 bought Atlanta-based Popeyes Louisiana Kitchen, franchisor of Popeyes Louisiana Kitchen and Popeyes Chicken & Biscuits.

    Restaurant Brands was formed in December 2014 when Miami-based Burger King Worldwide acquired Tim Hortons, a restaurant chain based in Canada.

    Restaurant Brands is based in Toronto. Under a so-called corporate inversion, legal headquarters ended up in Canada, cutting the company's tax rate.

    Business segments and operations:

    The company's restaurants, led by Burger King, operate in more than 100 countries.

    Burger King operates in more than 100 countries.

    Firehouse operates in the U.S., Canada and Puerto Rico.

    Popeyes operates in the U.S. and certain other countries and territories.

    Tim Hortons operates primarily in Canada and, to a lesser degree, the U.S., with a small number of locations in the Mideast.

    Restaurant Brands had the following number of worldwide systemwide restaurants at year end:

    2022: 30,722 (Burger King, Firehouse Subs, Tim Hortons, Popeyes)

    2021: 29,456 (Burger King, Firehouse Subs (1,213), Tim Hortons, Popeyes)

    2020: 27,025 (Burger King, Tim Hortons, Popeyes)

    2019: 27,086 (Burger King, Tim Hortons, Popeyes)

    2018: 25,744 (Burger King, Tim Hortons, Popeyes)

    2017: 24,407 (Burger King, Tim Hortons, Popeyes)

    2016: 20,351 (Burger King, Tim Hortons)

    2015: 19,416

    2014: 18,630

    2013: 17,781

    2012: 17,261

    In its 10-K for year ended December 2022, the company said: "As of December 31, 2022, approximately 100% of total restaurants for each of our brands was franchised."

    In its 10-K for year ended December 2021, the company said: "As of December 31, 2021, approximately 100% of total restaurants for each of our brands was franchised."

    In its 10-K for year ended December 2020, the company said: "As of December 31, 2020, approximately 100% of total restaurants for each of our brands was franchised."

    In its 10-K for year ended December 2019, the company said: "As of December 31, 2019, approximately 100% of total restaurants for each of our brands was franchised."

    In its 10-K for year ended December 2018, the company said: "As of December 31, 2018 , approximately 100% of total restaurants for each of our brands was franchised."

    Restaurant Brands' worldwide systemwide count included the following number of "company restaurants" (company-owned restaurants) at year end:

    Sales and earnings:

    Sales figures shown in an accompanying table are corporate and include company restaurants, franchise fees and property revenue.

    Restaurant Brands reported the following worldwide systemwide sales (sales by franchisees plus sales at company-operated restaurants):

    2022: $39.751 billion

    2021: $36.586 billion (including $1.091 billion in full-year sales from Firehouse, acquired December 2021)

    2020: $30.669 billion

    2019: $34.034 billion

    2018: $32.225 billion

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database for Restaurant Brands is Ad Age's estimate of advertising spending supporting Burger King, Firehouse Subs, Tim Hortons and Popeyes U.S. systemwide franchised and company-operated stores.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database for Restaurant Brands is Ad Age's estimate of advertising spending supporting Burger King, Firehouse Subs, Tim Hortons and Popeyes worldwide systemwide franchised and company-operated stores.

    Accounting for advertising expenses:

    Restaurant Brands changed its accounting for advertising expenses effective Jan. 1, 2018, under Accounting Standards Codification Topic 606.

    The company discussed the change in its 10-K for year ended December 2018:

    "Company restaurants and franchise restaurants contribute to advertising funds that our subsidiaries manage in the United States and Canada and certain other international markets.

    "The advertising funds expense the production costs of advertising when the advertisements are first aired or displayed. All other advertising and promotional costs are expensed in the period incurred.

    "Under our franchise agreements, advertising contributions received from franchisees must be spent on advertising, product development, marketing and related activities.

    "As a result of our transition to ASC 606, advertising contributions received from franchisees are included in franchise and property revenues and advertising expenses are included as selling, general and administrative expenses commencing on January 1, 2018.

    "Advertising expenses included in selling, general and administrative expenses totaled $793 million for 2018.

    "Prior to January 1, 2018, since we were deemed to be acting as an agent for these specifically designated contributions in accordance with the Previous Standards, the revenues and expenses of the advertising funds were generally netted in our consolidated statements of operations.

    "Prior to our transition to ASC 606, advertising expenses, which primarily consisted of advertising contributions by Company restaurants (including Restaurant VIEs [variable interest entities]) based on a percentage of gross sales, totaled $7 million for 2017 and $6 million for 2016 and were included in selling, general and administrative expenses in the accompanying consolidated statements of operations.

    "As a result of our transition to ASC 606, the advertising contributions by Company restaurants (including Restaurant VIEs) are eliminated in consolidation in 2018."

    Restaurant Brands' stated worldwide "advertising expense" under accounting rules that it adopted effective Jan. 1, 2018:

    2022: $1.032 billion

    2021: $962 million

    2020: $870 million (restated)

    2019: $865 million (restated)

    2018: $793 million

    Restaurant Brands' 10-K for year ended December 2022 said:

    "In general, franchisees fund substantially all of the marketing programs for each of our brands by making contributions ranging from 2.0% to 5.0% of gross sales to advertising funds managed by us or by the franchisees. Advertising contributions are used to pay for expenses relating to marketing, advertising and promotion, including market research, production, advertising costs, sales promotions, social media campaigns, technology initiatives and other support functions for the respective brands.

    "In 2021, we spent [Canadian] $80 million to support [Tim Hortons] Canada advertising expenses and in September 2022, we announced our intention to pay $120 million of [Burger King U.S.] advertising expenses over approximately two years.

    "We manage the advertising funds for each of our brands in the U.S. and Canada.

    "While we manage the advertising funds in select markets for [Burger King] and [Popeyes], in most international markets, including the markets managed by master franchisees, franchisees make contributions into franchisee-managed advertising funds. As part of our global marketing strategy, we provide franchisees with advertising support and guidance in order to deliver a consistent global brand message."

    Burger King:

    Burger King's 2016 franchise disclosure document said:

    "[Burger King] requires Franchisees to pay [Burger King] an advertising contribution equal to a percentage of gross sales. [Burger King] uses Franchisees' advertising contributions to pay for various types of expenses related to advertising and promotion, including market research; creative, production, and other costs incurred in connection with the development of advertising; sales promotions; public relations; media costs; and administrative expenses. [Burger King] decides on the allocation of advertising contributions among national, regional and local markets. The required advertising contribution is 4% of gross sales, unless you are participating in a program that decreases that amount or are operating a Restaurant that qualifies for a lower contribution. For example, if you are participating in the Big-Box Program," a restaurant inside a national retailer, "the advertising contribution for your Restaurant can be up to 2.5%."

    That Burger King franchise disclosure document also said:

    "Additional advertising expenditures typically range from 0.5% to 2.0% of gross sales in addition to the required advertising fund contribution."

    The Burger King 2016 disclosure document also said:

    "Company restaurants and franchise restaurants contribute to advertising funds that our subsidiaries manage in the United States and Canada and certain other international markets. ... Advertising expense, which primarily consists of advertising contributions by Company restaurants ... based on a percentage of gross sales, totaled $13.7 million for 2015, $2.4 million for 2014 and $6.2 million for 2013."

    Firehouse Subs:

    Firehouse Subs franchisees put 1% of gross sales into a System Fund "for the creation and development of marketing, advertising and related programs and materials on a system-wide basis," according to the chain's 2022 franchise disclosure agreement. In addition, franchisees spend 4% of gross sales on local advertising (including contributions to a marketing co-op).

    Tim Hortons:

    Tim Hortons' 10-K for year ended December 2013 said:

    "We use radio, television, print and online advertising; event sponsorship; our highly visible community caring programs; and our Tim Card, a reloadable cash card for guest purchases at system restaurants, to reinforce [the company's] brand image.

    "National Marketing Program. Restaurant owners fund substantially all of our national marketing programs by making contributions to our Canadian or U.S. advertising funds, which were established to collect and administer contributions for advertising efforts. In fiscal 2013, restaurant owners and company-operated restaurants in Canada contributed approximately 3.5% of their gross sales to the Canadian advertising fund. Although the franchise or license agreement requires contributions of up to 4.0% of gross sales, we have voluntarily reduced the current contribution to 3.5%, but retain the right to increase the contribution at any time. Restaurant owners and company-operated restaurants in the U.S. contributed approximately 4.0% of their sales to the U.S. advertising fund. We have national advisory boards of elected restaurant owners.

    "Regional Marketing Programs. Part of the national marketing program contribution is allocated to regional marketing groups (approximately 342 in Canada and 26 in the U.S.). The regional marketing groups sponsor and support locally targeted marketing programs. We also support these regional marketing groups with market strategy and regional plans and programs.

    Popeyes:

    Popeyes Louisiana Kitchen's 10-K for year ended December 2016 said:

    "Payments to the advertising funds [from domestic franchisees] are generally 4% of net restaurant sales. Some of our institutional franchise agreements provide for lower royalties and advertising fund contributions."

    The 10-K also said: "Each Popeyes restaurant, company-operated or franchised, contributes to an advertising fund that supports branding and marketing initiatives, including the development of marketing materials that are used throughout our restaurant system and (2) national and local marketing programs. We act as the agent for the advertising fund and coordinate its activities. We and our Popeyes franchisees made contributions to the advertising fund of approximately $135.1 million in 2016, $123.5 million in 2015, and $110.2 million in 2014."

    The 10-K said: "The company's contributions to the advertising cooperative based on company-operated restaurant sales are reflected in the company's consolidated statements of operations as a component of 'Restaurant employee, occupancy and other expenses.' Additional contributions to the advertising cooperative for national media advertising and other marketing related costs are expensed as a component of 'General and administrative expenses.' During 2016, 2015, and 2014, the company's advertising costs were approximately $4.6 million, $5.4 million, and $3.9 million, respectively."

    Popeyes' 10-K discussed beverage agreements: "The company has entered into long-term beverage supply agreements with certain major beverage vendors. Pursuant to the terms of these arrangements, marketing rebates are provided to the company and its advertising fund from the beverage vendors based upon the dollar volume of purchases for company-operated restaurants and franchised restaurants. For company-operated restaurants, these incentives are recognized as earned throughout the year and are classified as a reduction of 'Restaurant food, beverages and packaging' in the consolidated statements of operations. The incentives recognized by company-operated restaurants were approximately $1.4 million, $1.4 million, and $1.1 million in 2016, 2015, and 2014, respectively. Rebates earned and contributed to the cooperative advertising fund are excluded from the company's consolidated statements of operations."

    Deals and strategic moves:

    Restaurant Brands in December 2021 bought Jacksonville, Florida-based FRG (Firehouse Restaurant Group), franchisor of Firehouse Subs, for total consideration of about $1.016 billion.

    Restaurant Brands in March 2017 bought Popeyes Louisiana Kitchen, franchisor of Popeyes Louisiana Kitchen and Popeyes Chicken & Biscuits, for total consideration of about $1.7 billion.

    3G Capital, an investment firm, in October 2010 bought publicly traded Burger King Holdings for $4.0 billion, including assumption of the company's outstanding debt.

    3G flipped its burgers in 2012, once again turning Burger King into a public company on June 20, 2012, through a merger with what was essentially a public shell company, U.K.-based Justice Holdings. Upon the deal's closing, Justice ceased trading on the London Stock Exchange and the burger chain began trading on the New York Stock Exchange under a new name, Burger King Worldwide. As of March 2013, 3G Capital owned about a 70% stake in Burger King Worldwide.

    3G Capital orchestrated Burger King Worldwide's December 2014 acquisition of Canadian restaurant chain Tim Hortons, creating Canada-based Restaurant Brands International. Under this so-called corporate inversion, legal headquarters moved to Canada, cutting Burger King's tax rate. Warren Buffett's Berkshire Hathaway contributed $3 billion of preferred-equity financing. Berkshire said it wouldn't be involved in management and operation of the business.

    Wendy's International in December 1995 bought Tim Hortons. Wendy's, focusing on its mainstay brand, in March 2006 staged an initial public offering for 17.25% of Tim Hortons; in September 2006, Wendy's spun off its remaining 82.75% stake.

    History:

    Burger King:

    Burger King began in 1954 when James McLamore and David Edgerton opened a restaurant in Miami. The founders sold Burger King to Pillsbury Co. in 1967.

    U.K.-based Grand Metropolitan bought Pillsbury in 1989. Grand Metropolitan merged with Guinness to form Diageo in 1997. In December 2002, Diageo sold Burger King to buyout funds controlled by Texas Pacific Group, Bain Capital Partners and Goldman Sachs.

    Burger King staged an IPO in May 2006. As of August 2010, Texas Pacific Group, Bain Capital and Goldman Sachs owned about 31% of Burger King Holdings, prior to the October 2010 sale to 3G Capital. Following a transaction with what was essentially a publicly traded shell company, Burger King in June 2012 became a public company once again: Burger King Worldwide, traded on the New York Stock Exchange.

    Firehouse Subs:

    Firehouse Subs was founded in 1994. Restaurant Brands bought Firehouse Subs in December 2021.

    Tim Hortons:

    Tim Hortons was founded in 1964. Wendy's International bought Tim Hortons in 1995 and spun it off as a separate public company in 2006.

    Popeyes:

    Popeyes was founded in New Orleans in 1972. Restaurant Brands bought Popeyes in March 2017.

    Restaurant Brands International:

    Restaurant Brands International was formed in December 2014 when Miami-based Burger King Worldwide bought Tim Hortons, a restaurant chain based in Canada.

    Restaurant Brands is based in Toronto. Under a so-called corporate inversion, legal headquarters ended up in Canada, cutting the company's tax rate.

    https://www.rbi.com

Rewe Group

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Rewe Group is a retailer and travel services company based in Germany and operating across Europe.

    Business segments and operations:

    At the end of calendar 2022, Rewe had 9,220 locations, including 4,474 in Germany, according to its annual financial report.

    Rankings:

    Rewe ranked No. 19 worldwide in the Top 250 ranking based on fiscal 2021 sales in Deloitte's Global Powers of Retailing 2023 report.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are stated worldwide "advertising expenses" converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    Deals and strategic moves:

    Rewe in July 2016 bought 55.0% of Supermarkte Nord, a German supermarket retailer, for 140.6 million euros ($156.1 million).

    The company in 2015 bought Kuoni Travel Investments, a Switzerland-based firm that includes tour operators, travel agencies and online travel sales.

    History:

    The company was founded in 1927.

    https://www.rewe-group.com/en

SAIC Motor Corp.

  • Marketer profile
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    Overview:

    SAIC Motor Corp. is an automaker based in Shanghai, China.

    SAIC's operations include joint ventures with General Motors Co. and Volkswagen that market GM and Volkswagen vehicles in China.

    SAIC formerly was known as Shanghai Automotive Industry Corp.

    Business segments and operations:

    Most of SAIC's sales come through joint ventures in China with General Motors Co. and Volkswagen.

    Brands owned by SAIC include MG, a celebrated British brand name acquired by SAIC; Maxus, a line of vans and light commercial vehicles; and Roewe, a luxury nameplate launched by SAIC.

    SAIC reported the following worldwide unit vehicle sales:

    2022: 5,302,644
    2021: 5,463,500
    2020: 5,600,482
    2019: 6,237,950
    2018: 7,051,734
    2017: 6,930,123
    2016: 6,488,867

    The 2022 sales included 1,586,798 units from SAIC GM Wuling Co. (SGMW) (joint venture with General Motors Co.); 1,175,205 units from SAIC General Motors Co. (SAIC GM) (another joint venture with General Motors Co.); and 1,340,048 units from SAIC Volkswagen Automobile Co. (SAIC Volkswagen) (joint venture with Volkswagen).

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the World's Largest Advertisers report and related database are SAIC's stated "advertising expenses" converted to dollars at average exchange rates by Ad Age Datacenter.

    SAIC's stated "advertising expenses" in renminbi:

    2022: 13.174 billion renminbi ($1.962 billion) (1.8% of total operating income [revenue]).
    2021: 13.105 billion renminbi ($2.031 billion) (1.7%).
    2020: 10.436 billion renminbi ($1.513 billion) (1.4%).
    2019: 13.441 billion renminbi ($1.947 billion) (1.6%).
    2018: 13.523 billion renminbi ($2.048 billion) (1.5%).
    2017: 13.572 billion renminbi ($2.009 billion) (1.6%).
    2016: 10.822 billion renminbi ($1.630 billion) (1.4%).
    2015: 9.727 billion renminbi ($1.565 billion) (1.5%).
    2014: 10.039 billion renminbi ($1.634 billion) (1.6%).
    2013: 8.402 billion renminbi ($1.357 billion) (1.5%).
    2012: 6.789 billion renminbi ($1.077 billion) (1.4%).
    2011: 6.359 billion renminbi ($985.3 million) (1.5%).
    2010: 5.454 billion renminbi ($806.9 million) (1.5%).

    Deals and strategic moves:

    General Motors joint ventures:

    SAIC General Motors Co. (SAIC GM), also referred to as SAIC General Motors Corp. (SGM), is a joint venture established in 1997 that is 50% owned by SAIC Motor Corp. and 50% by U.S. automaker General Motors Co.

    SAIC GM Wuling Co. (SGMW) is a joint venture established in 2011 by SAIC Motor Corp. and General Motors Co. to sell imported Buick, Chevrolet and Cadillac vehicles and sell automobiles manufactured by SAIC General Motors Co. General Motors Co. said it owned a 44% stake as of year-end 2022.

    SAIC General Motors Sales Co. is a joint venture with SAIC Motor Corp. General Motors Co. said it owned a 49% stake as of year-end 2022.

    China (including GM's joint ventures in China) was General Motors Co.'s biggest country in unit sales in 2022; the U.S. was GM's second-largest market.

    GM's 10-K for year ended December 2022 said:

    "We view the Chinese market as important to our global growth strategy and are employing a multi-brand strategy. In the coming years, we plan to leverage our global architectures to increase the number of product offerings under the Buick, Chevrolet and Cadillac brands in China and continue to grow our business under the local Baojun and Wuling brands while we are accelerating the development and rollout of EVs across our brands in China in response to our commitment to an all-electric future. We operate in the Chinese market through a number of joint ventures and maintaining strong relationships with our joint venture partners is an important part of our China growth strategy."

    Volkswagen:

    SAIC Volkswagen Automobile Co. is a joint venture that is 50% owned by SAIC Motor Corp. and 50% by German automaker Volkswagen.

    SAIC Volkswagen Sales Co. is a joint venture with SAIC Motor Corp. Volkswagen as of 2022 said it owned a 30% stake.

    SAIC Volkswagen Sales Co. sells passenger cars for SAIC Volkswagen Automobile Co. As a result, SAIC Volkswagen Automobile Co.'s sales revenue is mostly generated from its business with SAIC Volkswagen Sales Co.

    Volkswagen also has a joint venture in China with another auto manufacturer, China FAW Group Corp., that develops, produces and sells passenger cars. Volkswagen as of 2022 said it owned a 40% stake in that joint venture, FAW-Volkswagen Automotive Co. China FAW Group Corp. was originally known as First Automotive Works.

    https://www.saicmotor.com

Samsung Electronics Co.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Samsung Electronics Co. is a consumer electronics and appliance marketer based in South Korea.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Ad Age Datacenter's estimate of Samsung's U.S. spending on advertising and sales promotion.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Samsung's stated worldwide "advertising" expenses plus "sales promotion" expenses converted to dollars at average exchange rates by Ad Age Datacenter.

    Ad Age calculated that Samsung spent $10.276 billion on worldwide advertising and sales promotion in calendar 2022 vs. $10.198 billion in 2021.

    Ad Age Datacenter ranked Samsung based on stated "advertising" plus "sales promotion" expenses starting with World's Largest Advertisers' December 2017 report (covering 2016 and 2015 spending). Ad Age Datacenter previously excluded sales promotion from its calculation of Samsung worldwide spending.

    Stated worldwide "advertising" expenses (rounded):

    2022: 6,112.951 billion won ($4.750 billion) (2.02% of worldwide revenue)

    2021: 5,376.015 billion won ($4.677 billion) (1.92%)

    2020: 4,269.043 billion won ($3.629 billion) (1.80%)

    2019: 4,614.525 billion won $3.968 billion) (2.00%)

    2018: 3,998.491 billion won ($3.639 billion) (1.64%)

    2017: 5,350.839 billion won ($4.762 billion) (2.23%)

    2016: 4,432.109 billion won ($3.812 billion) (2.20%)

    2015: 3,852.478 billion won ($3.429 billion) (1.92%)

    2014: 3,773.649 billion won ($3.585 billion) (1.83%)

    2013: 4,165.290 billion won ($3.832 billion) (1.82%)

    2012: 4,887.089 billion won ($4.350 billion) (2.43%)

    2011: 2,982.270 billion won ($2.714 billion) (1.81%)

    2010: 3,282.798 billion won ($2.856 billion) (2.12%)

    2009: 2,702.874 billion won ($2.135 billion) (1.98%)

    Stated worldwide "sales promotion" expenses (rounded):

    2022: 7,110.649 billion won ($5.526 billion) (2.35% of worldwide revenue)

    2021: 6,286.159 billion won ($5.469 billion) (2.25%)

    2020: 5,861.954 billion won ($4.983 billion) (2.48%)

    2019: 6,678.078 billion won ($5.743 billion)(2.90%)

    2018: 7,113.183 billion won ($6.473 billion) (2.92%)

    2017: 7,262.078 billion won ($6.463 billion) (3.03%)

    2016: 7,080.554 billion won ($6.089 billion) (3.51%)

    2015: 7,101.937 billion won ($6.321 billion) (3.54%)

    2014: 7,760.648 billion won ($7.373 billion) (3.76%)

    2013: 8,019.462 billion won ($7.378 billion) (3.51%)

    2012: 6,055.105 billion won ($5.389 billion) (3.01%)

    2011: 4,649.293 billion won ($4.231 billion) (2.82%)

    2010: 3,271.993 billion won ($2.847 billion) (2.12%)

    2009: 3,416.652 billion won ($2.699 billion) (2.51%)

    Sum: stated worldwide advertising plus sales promotion expenses (rounded):

    2022: 13,223.600 billion won ($10.276 billion) (4.38% of worldwide revenue)

    2021: 11,662.174 billion won ($10.146 billion) (4.17%)

    2020: 10,130.997 billion won ($8.611 billion) (4.28%)

    2019: 11,292.603 billion won ($9.712 billion) (4.90%)

    2018: 11,111.674 billion won ($10.112 billion) (4.56%)

    2017: 12,612.917 billion won ($11.225 billion) (5.26%)

    2016: 11,512.663 billion won ($9.901 billion) (5.70%)

    2015: 10,954.415 billion won ($9.749 billion) (5.46%)

    2014:11,534.297 billion won ($10.958 billion) (5.59%)

    2013: 12,184.752 billion won ($11.210 billion) (5.33%)

    2012: 10,942.194 billion won ($9.739 billion) (5.44%)

    2011: 7,631.563 billion won ($6.945 billion) (4.63%)

    2010: 6,554.791 billion won ($5.703 billion) (4.24%)

    2009: 6,119.526 billion won ($4.834 billion) (4.49%)

    Ad Age ranked Samsung as the world's fifth-largest advertiser based on 2022 and 2021 spending.

    Ad Age ranked Samsung as the world's fourth-largest advertiser based on 2020 and 2019 spending.

    Ad Age ranked Samsung as the world's second-largest advertiser, behind Procter & Gamble Co., based on 2018 spending.

    Samsung had displaced P&G as biggest advertiser in the December 2018 ranking of Ad Age World's Largest Advertisers based on Ad Age's calculation of Samsung spending for calendar 2017 ($11.225 billion) and Ad Age's estimate of P&G "advertising plus other marketing costs" for year ended June 2018 ($10.539 billion).

    Agencies:

    Cheil Worldwide:

    Samsung owned 25.2% of Cheil Worldwide, a South Korean agency company, as of December 2022, according to Samsung's financial filings. Cheil grew out of the Samsung network. Samsung remains a key client.

    History:

    Samsung was founded in 1938 as a trade exporter that sold dried Korean fish, vegetables and fruit to Manchuria and Beijing.

    Samsung Electronics Co. was incorporated in South Korea in 1969 and listed its shares on the Korea Stock Exchange in 1975.

    Samsung in the 1970s began manufacturing consumer electronics (starting with black-and-white TV sets) and major appliances (including washing machines, refrigerators and microwave ovens).

    Samsung began developing mobile phones in 1991.

    Samsung means "three stars" in Korean.

    https://www.samsung.com

Sanofi

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Sanofi is a pharmaceutical and health care products company based in Paris.

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is an Ad Age Datacenter estimate.

    Deals and strategic moves:

    Boehringer Ingelheim asset swap:

    Sanofi and Germany's Boehringer Ingelheim on Jan. 1, 2017, traded the Sanofi Animal Health business (Sanofi's Merial unit) for the Boehringer Ingelheim consumer health care business. As part of the deal, Boehringer Ingelheim made a payment to Sanofi to cover the difference between the higher valuation of Merial vs. the consumer brands going to Sanofi.

    Sanofi said the consumer health brands it acquired from Boehringer Ingelheim had 2016 estimated net sales of 1.5 billion euros ($1.66 billion).

    Sanofi said the deal would make it the world's largest consumer health care (over-the-counter) products marketer with 2015 pro forma sales of about 5.1 billion euros ($5.7 billion) and a global market share close to 4.6%.

    Other deals and strategic moves:

    Sanofi in July 2023 signed a deal to buy Qunol, a New Jersey-based marketer of over-the-counter health supplements including Qunol CoQ10 and Turmeric. Sanofi expected to complete the deal in third-quarter 2023. Qunol was founded in 2006.

    Sanofi in February 2022 acquired Amunix Pharmaceuticals, an immuno-oncology company based in South San Francisco, California, for an upfront payment of about $1 billion and up to $225 million contingent on achievement of future development milestones.

    Sanofi in November 2021 bought Kadmon Holdings, a biopharmaceutical company, in a deal with a total equity value of about $1.9 billion.

    Sanofi in September 2021 bought Translate Bio, a clinical-stage therapeutics company, in a transaction with a total equity value of about $3.2 billion.

    Sanofi in September 2020 acquired Principia Biopharma, a biopharmaceutical company based in South San Francisco, California, and focused on developing treatments for immune-mediated diseases. Price tag was $3.68 billion.

    Sanofi in January 2020 bought Synthorx, a cancer-biotech firm, for about $2.5 billion.

    Sanofi in July 2019 signed an agreement with Roche Holdings for exclusive U.S. over-the-counter rights to Tamiflu for the prevention and treatment of influenza. Under terms of the deal, Sanofi will be responsible for leading negotiations with the Food and Drug Administration for an over-the-counter product and then for exclusive marketing and distribution of Tamiflu OTC in the U.S.

    Sanofi in March 2018 bought Bioverativ, a biotechnology company focused on therapies for hemophilia and other blood disorders, for $11.6 billion.

    The company in May 2018 also bought Ablynx, a biopharmaceutical company, in a deal valued at 3.9 billion euros ($4.7 billion).

    Sanofi and rival AstraZeneca in November 2015 announced a direct exchange of 210,000 compounds from their respective proprietary compound libraries. The companies said: "The swap represents a novel open innovation model between pharmaceutical companies. It enhances the chemical diversity of the compound collections of both companies and allows each to screen a broader, more diverse chemical space as the starting point in the search for new small-molecule medicines. ... There are no payments associated with the compound exchange. Each company can investigate the compounds it receives without restrictions on disease areas."

    Sanofi and Eli Lilly & Co. in May 2014 announced an agreement to pursue regulatory approval of nonprescription Cialis. The erectile dysfunction drug, owned by Lilly, at that time was available worldwide only by prescription. Under terms of the agreement, Sanofi acquired exclusive rights to apply for approval of Cialis OTC in the United States, Europe, Canada and Australia. Sanofi also obtained exclusive rights to market Cialis OTC after Sanofi gained regulatory approval. If over-the-counter sales are approved, Sanofi planned to begin marketing Cialis OTC after expiration of certain patents. Sanofi and Lilly did not disclose terms of the licensing agreement.

    Cialis was first approved by the European Medicines Agency in 2002 and then by the U.S. Food and Drug Administration in 2003. Ultimately, Cialis received approval in more than 120 countries. Cialis in 2013 had worldwide sales of $2.16 billion; since launch, it generated worldwide sales of more than $14 billion, according to Lilly and Sanofi. As of May 2014, more than 45 million men worldwide had taken Cialis.

    Johnson & Johnson in January 2013 sold worldwide rights for the Rolaids brand to Chattem, Sanofi's U.S. consumer health care division, for 64 million euros ($83.7 million). Chattem relaunched Rolaids in September 2013. The antacid brand had been off the market since Johnson & Johnson recalled Rolaids packages in 2010 after consumer complaints tied to manufacturing-related quality problems. Johnson & Johnson acquired Rolaids as part of the 2006 acquisition of Pfizer's consumer health care business. American Chicle Co. introduced Rolaids in 1954. Warner-Lambert bought American Chicle in 1962. Pfizer bought Warner-Lambert in 2000.

    Sanofi in April 2011 bought Genzyme Corp., a major U.S. biotech firm, for $20.4 billion cash. Genzyme was founded in 1981. Genzyme had 2010 worldwide sales of $4.0 billion and 10,100 employees as of February 2011.

    Sanofi in March 2010 acquired Chattem, a U.S.-based marketer of over-the-counter health care products and toiletries, for $1.9 billion. Chattem brands included Gold Bond, Icy Hot, Act, Cortizone-10, Selsun Blue and Unisom.

    Chattem until 2017 operated under the Chattem name as Sanofi's U.S. consumer health care division. Sanofi rebranded Chattem as Sanofi in 2017.

    Chattem, based in Chattanooga, Tenn., was founded in 1879 as Chattanooga Medicine Co.

    Prior to its purchase by Sanofi, Chattem grew largely through acquisitions, including various orphan brands sold off by larger firms. In 1996, Chattem bought Gold Bond medicated powder, from Martin Himmel, and Herpecin-L, a cold sore treatment, from Campbell Laboratories. In 1997, it acquired Sunsource International (herbal supplements). Chattem bought Ban Anti-Perspirant & Deodorant from Bristol-Myers Squibb Co. in 1998 (sold in 2000). Also in 1998, it bought Dexatrim, Sportscreme, Aspercreme, Capzasin and Arthritis Hot from Thompson Medical Co. In 2002, it bought Selsun Blue from Abbott Laboratories. In 2007, Chattem purchased Act, Unisom, Cortizone, Kaopectate and Balmex from Johnson & Johnson.

    History:

    Sanofi was founded in 1973 by Elf Aquitaine, a French oil company, when it gained control of the Labaz group, a pharmaceutical company. Sanofi expanded into the U.S. in 1994 by acquiring the prescription drug unit of Eastman Kodak's Sterling Winthrop.

    Synthelabo was founded in 1970 through the merger of French pharma firms Laboratoires Dausse and Laboratoires Robert & Carriere. In 1973, L'Oreal bought a majority stake.

    Sanofi and Synthelabo merged in 1999.

    Aventis was formed in 1999 by the merger of Rhone-Poulenc and Hoechst (which had purchased U.S. drug marketer Marion Merrell in 1995).

    Sanofi-Synthelabo bought Aventis in 2004, creating Sanofi-Aventis.

    Sanofi-Aventis changed its name to Sanofi in May 2011.

    L'Oreal owned a 9.38% stake in Sanofi as of Dec. 31, 2022.

    https://www.sanofi.com

Schwarz Gruppe (Lidl)

  • Marketer profile
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    Overview:

    Schwarz Gruppe (Schwarz Group) is a privately owned retailer based in Germany.

    Business segments and operations:

    Schwarz owns Lidl, a discount supermarket chain, and Kaufland, a superstore chain.

    Lidl:

    Lidl operates more than 12,000 in 32 countries, including more than 170 stores across nine East Coast states and Washington, D.C. , according to a June 2023 press release from Lidl U.S.

    Lidl in June 2015 announced it was opening a U.S. office in Arlington, Virginia, and its intent to expand into the U.S. The chain opened its first U.S. stores in summer 2017.

    Lidl's German rival Aldi Sud, which operates Aldi discount supermarkets, opened its first U.S. store in 1976. A sibling venture, Aldi Nord, in 1979 bought Trader Joe's, a food retailer based in California.

    Kaufland:

    Kaufland is a superstore chain that operates stores in Germany and Eastern Europe.

    Rankings:

    Schwarz ranked as the world's fourth-largest retailer based on fiscal 2021 sales in the Top 250 ranking in Deloitte's Global Powers of Retailing 2023 report.

    Sales and earnings:

    Schwarz's worldwide sales:

    Fiscal 2022 (year ended Feb. 28, 2023): 154.1 billion euros ($161.0 billion) (reported by company).
    Fiscal 2021: 133.6 billion euros ($156.3 billion) (reported by company).
    Fiscal 2020: 125.3 billion euros ($145.4 billion) (reported by company).
    Fiscal 2019: 114.3 billion euros ($127.3 billion) (reported by company).
    Fiscal 2018: 104.3 billion euros ($123.2 billion) (reported by company).
    Fiscal 2017: 96.9 billion euros ($109.5 billion) (reported by company).
    Fiscal 2016: $99.256 billion (from Global Powers of Retailing report).
    Fiscal 2015: $94.448 billion (from Global Powers of Retailing report).
    Fiscal 2014: $102.694 billion (from Global Powers of Retailing report).

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending shown in the World's Largest Advertisers report and related database is an Ad Age Datacenter estimate.

    https://gruppe.schwarz/en

Shiseido Co.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Shiseido Co. is a cosmetics, personal care and health care products marketer based in Japan.

    Shiseido effective for calendar 2022 adopted International Financial Reporting Standards (IFRS). The company previously used Japanese generally accepted accounting principles.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending shown in the World's Largest Advertisers report and related database is an Ad Age Datacenter estimate of marketing costs excluding point-of-sale personnel costs under IFRS.

    Estimated worldwide marketing costs excluding point-of-sale personnel costs under IFRS:

    2022: 265.8 billion yen ($2.037 billion) (24.9% of net sales)

    2021: 275.7 billion yen ($2.513 billion) (27.3% of net sales)

    The company's disclosure for year ended December 2022 of historical selected financial data said: "The ratio of marketing costs to net sales decreased 2.4 percentage points year on year to 24.9% [in 2022] due to lower expenses resulting from the business transfers and agile cost management, despite higher investment expenses for enhancing brand equity."

    Shiseido reported the following worldwide "marketing" costs (including point-of-sale personnel costs) for the calendar year under IFRS:

    2022: 367.0 billion yen ($2.812 billion) (34.4% of net sales)

    2021: 369.5 billion yen ($3.368 billion) (36.6% of net sales)

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of marketing costs excluding point-of-sale personnel costs under IFRS.

    Deals and strategic moves:

    Shiseido in July 2022 sold 80% of its Asia Pacific hair products professional business (hair care, hair color, perm, straightening, styling and other professional products sold mainly through hair salons in Japan and Asia, including the Shiseido Professional brand, to Germany-based Henkel. Shiseido kept a 20% stake. Henkel licenses the Shiseido Professional name from Shiseido. The business had 2022 sales of 112 million euros ($118 million). This deal came after Henkel in December 2017 bought Zotos International, Shiseido's U.S. hair salon business.

    Shiseido in December 2021 sold makeup brands bareMinerals, Buxom and Laura Mercier to buyout firm Advent International for $700 million. Shiseido bought Bare Escentuals (bareMinerals, Buxom) in 2010 and Laura Mercier in 2016.

    The company in 2000 acquired Nars, a U.S.-based cosmetics brand.

    Shiseido opened a U.S. subsidiary in 1965, establishing the company's base in the Americas.

    History:

    Shiseido opened as a pharmacy in Toyko in 1872.

    The company expanded into personal care in the late 1800s, introducing a toothpaste in 1888 (Fukuhara Sanitary Toothpaste) and its first cosmetics product in 1897 (Eudermine, a brand that is still marketed).

    Shiseido established its Design Department, later called the Advertising and Design Department, in 1916.

    https://corp.shiseido.com/en

Sony Group Corp.

  • Marketer profile
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    Overview:

    Sony Group Corp. is a consumer electronics marketer and major global distributor of movies and music. The company is based in Tokyo.

    Sony's other operations include financial-services businesses in Japan, including life and non-life insurance and an internet-based bank; and an internet-services-provider business (So-net) and an advertising agency in Japan.

    The company changed its name to Sony Group Corp. from Sony Corp. effective April 1, 2021.

    Sales and earnings:

    Sony Pictures:

    Sony breaks out worldwide sales and operating revenue in dollars for Sony Pictures Entertainment, a U.S.-based operation, in its "Pictures Segment Supplemental Information" (in Sony's "Supplemental Information for the Consolidated Financial Results").

    Sony Pictures' worldwide sales and operating revenue:

    Year ended March 2023: $10.141 billionYear ended March 2022: $10.991 billion Year ended March 2021: $7.101 billion Year ended March 2020: $9.316 billion Year ended March 2019: $8.870 billion Year ended March 2018: $9.133 billion Year ended March 2017: $8.292 billion Year ended March 2016: $7.875 billion Year ended March 2015: $7.910 billion Year ended March 2014: $8.255 billion Year ended March 2013: $8.803 billion Year ended March 2012: $8.021 billion Year ended March 2011: $7.229 billion

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Sony's stated worldwide "advertising costs" converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    Sony reported worldwide advertising costs of 391.131 billion yen ($2.894 billion) in the year ended March 2023, vs. 347.709 billion yen ($3.098 billion) in the year ended March 2022.

    Cooperative advertising costs:

    Sony stopped breaking out cooperative advertising costs effective with its consolidated financial statements for year ended March 2019.

    Previous financial statements broke out cooperative advertising.

    Sony discussed its accounting for cooperative advertising costs in its consolidated financial statements for year ended March 2018:

    "Sales incentives or other cash consideration given to a customer or a reseller, including payments for buydowns, slotting fees and cooperative advertising programs, are accounted for as a reduction of revenue unless Sony receives an identifiable benefit (goods or services) in exchange for the consideration, the fair value of the benefit is reasonably estimated and documentation from the reseller is received to support the amounts paid to the reseller. Payments meeting these criteria are recorded as selling, general and administrative expenses.

    "For the fiscal years ended March 31, 2016, 2017 and 2018, consideration given to a reseller, primarily for free promotional shipping and cooperative advertising programs included in selling, general and administrative expenses, totaled 13,178 million yen [$109.8 million], 12,046 million yen [$111.4 million] and 12,319 million yen [$111.2 million], respectively."

    The comparable amounts were 10,503 million yen ($96.1 million) in year ended March 2015; 12,112 million yen ($121.0 million) in year ended March 2014; 14,643 million yen ($175.7 million) in year ended March 2013; 17,641 million yen ($223.5 million) in year ended March 2012; 23,250 million yen ($272.0 million) in year ended March 2011; 23,591 million yen ($254.3 million) in year ended March 2010; and 29,813 million yen ($298.1 million) in year ended March 2009.

    Deals and strategic moves:

    Sony in July 2022 bought Bungie, an independent videogame developer in the U.S., for $3.701 billion.

    Sony in December 2021 sold GSN Games, a division of Game Show Network, to Scopely.

    Sony's Sony Pictures Entertainment in August 2021 bought Ellation Holdings from AT&T for $1.237 billion. Ellation operated Crunchyroll, a direct-to-consumer service for anime and manga fans. Sony combined Crunchyroll with a Sony-owned anime distribution business, Funimation; the two ventures consolidated under the Crunchyroll brand. Crunchyroll provides services including subscription video-on-demand, advertising-based video-on-demand, mobile games, manga, events, merchandise and distribution.

    Sony in November 2019 bought AT&T's 42% stake in Game Show Network, or GSN, for $496 million, giving Sony 100% ownership of the cable network.

    Sony in November 2018 bought a 60% stake in EMI Music Publishing from a Mubadala Investment Co.-led group for $2.3 billion. The deal increased Sony's stake in EMI Music Publishing to about 90%. A Sony-led investor group in June 2012 bought EMI Group's EMI Music Publishing for $2.2 billion, giving Sony access to EMI's 1.3 million song copyrights. (The 2012 investor group included the estate of Michael Jackson; Mubadala Development Co.; Jynwel Capital; Blackstone Group's GSO Capital Partners; and David Geffen. Sony in July 2018 bought the stake held by the estate of Michael Jackson.)

    Sony in September 2016 bought the 50% stake in Sony/ATV Music Publishing held by the estate of Michael Jackson, increasing Sony's ownership to 100% from 50%. (Sony/ATV Music Publishing later changed its name to Sony Music Publishing.)

    Sony in July 2014 sold its Vaio personal-computer business to Japan Industrial Partners, a buyout fund.

    Sony on Feb. 15, 2012, bought Ericsson's 50% stake in Sony Ericsson Mobile Communications, giving Sony 100% ownership in the wireless phone handset manufacturer. Sony Ericsson changed its name to Sony Mobile Communications. The companies had announced the deal in October 2011, with Sony agreeing to pay 1.05 billion euros ($1.46 billion) to buy Ericsson's stake.

    Sony in October 2008 bought Bertlesmann's 50%stake in their joint venture, Sony BMG, making Sony the sole owner of the world's second-largest record company behind Universal Music Group. The deal was valued at nearly $1.8 billion. Sony revived the Sony Music Entertainment moniker to replace the Sony BMG name.

    Sony's record roots extend back decades. In 1968, Sony and CBS formed CBS/Sony Records in Japan as a 50/50 joint venture.

    Sony in 1988 acquired CBS Corp.'s record imprint, CBS Records. Sony in 1991 renamed it Sony Music Entertainment, which in 2004 was renamed Sony BMG after Sony established the joint venture with Bertlesmann Music Group.

    Sony/ATV Music Publishing in 2007 bought Viacom's Famous Music, a music publishing catalog, for about $370 million. Famous Music was opened in 1928 by Famous-Lasky Corp. (Paramount Pictures' predecessor) to publish music from the studio's "talking pictures" and other projects.

    Sony in November 1989 bought Columbia Pictures Entertainment from Coca-Cola Co., which had purchased the studio in 1982. Sony changed the name of Columbia Pictures Entertainment to Sony Pictures Entertainment in August 1991.

    Sony Pictures Entertainment is based in Culver City, California, on the old Metro-Goldwyn-Mayer lot.

    Sony led a consortium of investors (Providence Equity Partners, Texas Pacific Group, Comcast Corp., DLJ Merchant Banking Partners) in the April 2005 buyout of Metro-Goldwyn-Mayer for about $5 billion. As of November 2010, Sony owned a 14% stake; Providence, 34%; TPG, 23%; Comcast, 21%; and Credit Suisse Group's DLJ, 8%. MGM, burdened by debt, filed for bankruptcy reorganization in November 2010. Sony's stake was wiped out in bankruptcy. MGM emerged from bankruptcy in December 2010 under new ownership. (Amazon in March 2022 bought MGM Holdings for $6.1 billion.)

    History:

    Tokyo Tsushin Kogyo K.K. (Tokyo Telecommunications Engineering Corp.), also known as Totsuko, opened for business in 1946.

    Totsuko began using the Sony logo on products in 1955.

    The company in 1958 changed its name to Sony Corp.

    The company in April 2021 changed its name to Sony Group Corp.

    https://www.sony.net

Stellantis

  • Marketer profile
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    Overview:

    Stellantis is a global automaker based near Amsterdam.

    Stellantis was formed by the January 2021 merger of Fiat Chrysler Automobiles and PSA Group.

    Business segments and operations:

    At the time of the merger, Fiat Chrysler Automobiles (FCA) had 10 vehicle brands: Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional (light commercial vehicles), Jeep, Lancia, Ram and Maserati.

    PSA had five vehicle brands: Peugeot, Citroen, DS, Opel and Vauxhall.

    The Fiat brand reentered the U.S. in 2011. The Alfa Romeo brand reentered the U.S. in 2014.

    China:

    Stellantis operates in China through joint ventures.

    Dongfeng Peugeot Citroen Automobile is a 50/50 joint venture with China-based Dongfeng Motor Group that manufactures vehicles under the Dongfeng Peugeot and Dongfeng Citroen brands in China. Dongfeng Peugeot Citroen Automobile Sales Co. markets the vehicles produced by Dongfeng Peugeot Citroen Automobile in China.

    GAC Fiat Chrysler Automobiles Co., or GAC FCA JV, is a 50/50 joint venture with China-based Guangzhou Automobile Group Co. that assembles Jeep vehicles for the Chinese market.

    Marketing spending:

    U.S. ad spending:

    U.S. ad spending figures shown in the Leading National Advertisers report and Marketer Trees database reflect estimated U.S. ad spending for Stellantis.

    Worldwide ad spending:

    Worldwide ad spending figures shown in the Ad Age World's Largest Advertisers report and related database reflect estimated worldwide ad spending for Stellantis.

    Deals and strategic moves:

    Faurecia:

    Stellantis in 2021 spun off a minority stake in Faurecia, a France-based global auto parts supplier, to Stellantis shareholders. Stellantis had inherited that stake from PSA.

    Fiat Chrysler Automobiles and PSA Group merger:

    Fiat Chrysler Automobiles and PSA Group, the parent of Peugeot, merged Jan. 16, 2021, forming Stellantis. The company is based in Lijnden, Netherlands, near Amsterdam.

    The deal was positioned as a "merger of equals." But a November 2020 filing said: "FCA and PSA's management determined that PSA is the acquirer for accounting purposes and as such, the merger is accounted for as a reverse acquisition."

    Under the deal, Fiat Chrysler Automobiles N.V. was renamed Stellantis N.V.

    Peugeot S.A. (PSA Group) ceased to exist.

    The companies Oct. 31, 2019, announced plans for a 50/50 merger.

    In that announcement, the companies said: "The transaction would be affected by way of a merger under a Dutch parent company. ... The new group's Dutch-domiciled parent company would be listed on Euronext (Paris), the Borsa Italiana (Milan) and the New York Stock Exchange and would continue to maintain significant presences in the current operating head-office locations in France, Italy and the US."

    The companies in July 2020 said the merged firm would be called Stellantis, a name they said was rooted in the Latin verb "stello," meaning "to brighten with stars."

    Fiat Chrysler Automobiles was based in London.

    PSA was an automaker based in Rueil-Malmaison, a suburb of Paris. The company's legal name was Peugeot S.A.

    Groupe PSA, or PSA Group, referred to the entire group of companies owned by the Peugeot S.A. holding company.

    Historic Fiat Chrysler Automobiles deals:

    Renault:

    Fiat Chrysler Automobiles on May 26, 2019, sent a proposal to French automaker Renault for a 50/50 merger. FCA withdrew its proposal on June 6, 2019, saying in a statement: "It has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully."

    Magneti Marelli:

    FCA in March 2019 sold Magneti Marelli, a car parts business, to CK Holdings Co., a holding company of Calsonic Kansei Corp., for 5.8 billion euros ($6.5 billion).

    Ferrari:

    FCA previously owned Italian luxury auto brand Ferrari. FCA in October 2015 staged an initial public offering for Ferrari (ticker: RACE) by selling a minority stake. FCA distributed its remaining ownership interest in Ferrari to FCA shareholders on Jan. 3, 2016. Fiat acquired Ferrari in 1975.

    General Motors:

    Then-FCA CEO Sergio Marchionne in 2015 sent an email to General Motors Co. to propose a tie-up of the two automakers. GM CEO Mary Barra in June 2015 said GM was not interested in a merger.

    Chrysler bankruptcy and the Fiat deal:

    Chrysler from 2007 through 2010 went through an upheaval including bankruptcy, changes in ownership and management, and a wholesale makeover of agencies.

    Then-struggling Chrysler filed for Chapter 11 bankruptcy reorganization April 30, 2009, under a plan arranged and bankrolled by the U.S. government to hand control to Fiat.

    Fiat on June 10, 2009, closed a deal to buy Chrysler's key assets, paving the way for Chrysler to emerge from a quick chapter in bankruptcy. Chrysler that day took a new corporate name: Chrysler Group LLC.

    Sergio Marchionne, Fiat's CEO, on June 10, 2009, added the title of CEO at Chrysler Group. (Marchionne died in July 2018, a few days after he stepped down as CEO.)

    Fiat initially had a 20% stake in Chrysler. Fiat over time expanded its Chrysler stake, gaining 100% ownership of Chrysler Group LLC in January 2014.

    Chrysler Group LLC changed its name to FCA US LLC on Dec. 15, 2014.

    Earlier Chrysler deals:

    The Fiat deal marked a return to foreign control of Chrysler brands.

    Daimler, the German parent of Mercedes-Benz, owned Chrysler for about a decade. Daimler-Benz and Chrysler Corp. on May 7, 1998, announced plans for what they dubbed a "merger of equals." The companies completed the deal in late 1998, forming DaimlerChrysler. The Germans ended up in control, but that merger didn't work.

    DaimlerChrysler on May 14, 2007, announced it would sell Chrysler to U.S. buyout firm Cerberus Capital Management. The sale closed in August 2007. Cerberus obtained an 80.1% stake; DaimlerChrysler kept 19.9%. DaimlerChrysler on Oct. 4, 2007, renamed itself Daimler. Daimler in 2022 changed its name to Mercedes-Benz Group.

    The Chrysler/Cerberus deal ran aground as auto sales plunged in 2008 amid the tight credit market, tumult in financial markets and the recession. The U.S. government rescued Chrysler with a financial bailout in late 2008 and then pushed Chrysler into a restructuring that led to the bankruptcy filing and sale to Fiat.

    Chrysler Corp. in 1987 bought American Motors Corp., the parent of Jeep. AMC previously had been minority owned by Renault.

    Earlier Fiat deals:

    Fiat acquired Lancia in 1978; Alfa Romeo in 1984; and Maserati in 1993.

    Fiat in January 2011 split off its non-auto operations--Trucks & Commercial Vehicles, Agricultural & Construction Equipment--through a "demerger" into a separate company, Fiat Industrial. Fiat Industrial in September 2013 completed a merger with CNH Global, forming Essex, U.K.-based CNH Industrial N.V. (CNH Global was created by the 1999 merger of heavy-equipment manufacturers Case Corp. and New Holland.)

    Historic PSA deals:

    General Motors on July 31, 2017, sold its European unit, the Opel and Vauxhall business, to PSA Group.

    Chrysler in 1978 sold its European manufacturing and sales operations, operating under the Talbot brand, to Peugeot S.A.

    Peugeot S.A. in 1974 bought French rival Citroen S.A. and then merged the two companies in 1976.

    Management and employees:

    Carlos Tavares became CEO of Stellantis effective with the January 2021 merger of FCA and PSA. He formerly was chairman of the PSA managing board.

    Stock:

    Stellantis share trade on in the New York Stock Exchange, Italian Stock Exchange (Milan) and Euronext (Paris).

    History:

    Fiat was founded in 1899 in Turin as Societa Anonima Fabbrica Italiana di Automobili Torino, or F.I.A.T.

    Peugeot S.A. was founded in 1896.

    Walter Chrysler founded Chrysler Corp. in 1925 as successor to Maxwell Motor Co.

    Italy-based Fiat formed a global alliance with Chrysler in June 2009, buying a minority stake in the then-bankrupt automaker. Fiat became Chrysler's majority owner in July 2011 and then acquired 100% ownership of Chrysler in January 2014.

    London-based Fiat Chrysler Automobiles officially launched Oct. 12, 2014, when Fiat S.p.A. merged into Fiat Investments N.V., which at that point was renamed Fiat Chrysler Automobiles N.V., or FCA NV.

    France-based PSA Peugeot Citroen in April 2016 rebranded as Groupe PSA, also known as PSA Group.

    FCA and PSA on Jan. 16, 2021, merged to form Amsterdam-based Stellantis. At that point, Fiat Chrysler Automobiles N.V. was renamed Stellantis N.V.

    https://www.stellantis.com

Suntory Holdings (Beam Suntory)

  • Marketer profile
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    Overview:

    Suntory Holdings is a global marketer of alcoholic and non-alcoholic beverages and food products.

    Business segments and operations:

    Suntory Holdings has three business segments:

    Beverages and Food

    Alcoholic Beverages

    Others

    Beverages and Food includes Suntory Beverage & Food, a Japan-based company in which Suntory Holdings had a 59.4% stake as of December 2022, according to the consolidated financial statements and independent auditor's report of "Suntory Holdings Limited and Its Subsidiaries."

    Alcoholic Beverages includes the former Beam Inc. (now Beam Suntory); Suntory Spirits Ltd. (Suntory Holdings' Japanese spirits business; formerly Suntory Liquors Ltd; now part of Beam Suntory); and Suntory Beer Ltd.

    Suntory on April 30, 2014, acquired Beam Inc., a U.S.-based global spirits marketer, for about $16 billion cash. Beam Inc. at that point changed its name to Beam Suntory and became the U.S.-based global spirits unit of Suntory.

    The Others segment includes healthy foods, ice cream, restaurants, flowers, operations in China and other operations.

    Rankings:

    Suntory Holdings' 2014 acquisition of Beam made Suntory the world's third-largest spirits marketer by sales, behind No. 1 Diageo and No. 2 Pernod Ricard.

    Sales and earnings:

    Suntory Holdings disclosed calendar 2022 worldwide revenue (excluding excise taxes) of 2,659 billion yen ($20.4 billion). Figures are based on International Financial Reporting Standards, which Suntory Holdings adopted starting in calendar 2017.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the World's Largest Advertisers report (starting with the December 2018 report) and related database are Suntory Holdings' stated worldwide "advertising and sales promotion expenses" converted to U.S. dollars at average exchange rates by Ad Age Datacenter.

    Suntory Holdings' stated worldwide advertising and sales promotion expenses:

    2022: 414.763 billion yen ($3.178 billion) (15.6% of revenue excluding excise taxes)

    2021: 378.682 billion yen ($3.452 billion) (16.6% of revenue excluding excise taxes)

    2020: 351.704 billion yen ($3.295 billion) (16.7% of revenue excluding excise taxes)

    2019: 385.853 billion yen ($3.538 billion) (16.8% of revenue excluding excise taxes)

    2018: 380.118 billion yen ($3.444 billion) (16.9% of revenue excluding excise taxes)

    2017: 369.414 billion yen ($3.295 billion) (17.1% of revenue excluding excise taxes)

    Figures are based on International Financial Reporting Standards, which Suntory Holdings adopted starting in calendar 2017.

    Suntory Holdings previously broke out "advertising" expenses as follows:

    2016: 107.914 billion yen ($995.0 million)

    2015: 117.369 billion yen ($970.6 million)

    2014: 108.810 billion yen ($1.032 billion)

    2013: 83.770 billion yen ($859.5 million)

    Spending for 2014 included ad spending for Beam Suntory (formerly Beam Inc.) for period after Suntory Holdings bought Beam Inc. on April 30, 2014.

    Marketing spending for predecessor Beam Inc.:

    Predecessor firm Beam Inc. reported 2013 worldwide advertising costs of $338.6 million and 2013 worldwide advertising and marketing costs of $401.0 million.

    Stated worldwide advertising spending for predecessor Beam Inc.:

    2013: $338.6 million (13.3% of net sales)

    2012: $335.2 million

    2011: $302.3 million

    Stated worldwide advertising and marketing spending for predecessor firm Beam Inc.:

    2013: $401.0 million (15.7% of net sales)

    2012: $398.7 million

    2011: $358.7 million

    2010: $307.6 million

    2009: $275.7 million

    Deals and strategic moves:

    Suntory Holdings, a Japanese alcoholic and non-alcoholic beverage marketer, acquired Beam on April 30, 2014. Beam at that point changed its name to Beam Suntory and became the U.S.-based global spirits unit of Suntory. (See "History" section for more.)

    GlaxoSmithKline (now GSK) in December 2013 sold its Lucozade and Ribena nutritional-drinks brands to Suntory Beverage & Food for 1.352 billion pounds cash ($2.116 billion). Lucozade and Ribena had sales, excluding retained markets, of 527 million pounds ($825 million) in 2013.

    Stock:

    Suntory's non-alcoholic beverage business listed on the Tokyo Stock Exchange in 2013 as Suntory Beverage & Food Ltd. Suntory Holdings had a 59.4% stake in Suntory Beverage & Food as of December 2022, according to the consolidated financial statements and independent auditor's report of "Suntory Holdings Limited and Its Subsidiaries."

    History:

    Suntory Holdings:

    Suntory Holdings traces its roots in Japan to 1899, when Shinjiro Torii founded Torii Shoten and began production and sales of wine.

    Beam Inc. history:

    Beam Inc. was known as Fortune Brands until Oct. 3, 2011, when Fortune Brands completed a corporate breakup and renamed itself Beam Inc.

    Fortune Brands in December 2010 announced its plan to split into three companies: distilled spirits; home and security; golf products. The breakup marked an end to Fortune Brands' days as a far-flung conglomerate.

    Fortune Brands had its roots in tobacco. It began in 1890 as American Tobacco Co., at the time the nation's biggest tobacco company (before an antitrust breakup of the company in 1911). American Tobacco Co. morphed into the conglomerate American Brands. American Brands in 1994 sold American Tobacco Co., by then an also-ran cigarette marketer, to Brown & Williamson Tobacco Corp. (now part of British American Tobacco's Reynolds American). American Brands changed its name to Fortune Brands in 1997 and then to Beam Inc. in October 2011.

    Suntory Holdings, a Japanese alcoholic and non-alcoholic beverage marketer, acquired Beam on April 30, 2014. Beam at that point changed its name to Beam Suntory and became the U.S.-based global spirits unit of Suntory.

    https://www.suntory.com

Take-Two Interactive Software

  • Marketer profile
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    Overview:

    Take-Two Interactive Software is a video game developer, publisher and marketer based in New York.

    Take-Two bought Zynga, a developer of mobile games, in May 2022.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of pro forma U.S. advertising, marketing and other promotional expenses including Zynga.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is an Ad Age Datacenter estimate of pro forma worldwide advertising, marketing and other promotional expenses include Zynga.

    Take-Two's stated (not pro forma) worldwide "advertising, marketing and other promotional expenses":

    2022 (year ended March 31, 2023; including Zynga starting May 23, 2022): $1.213 billion (22.7% of revenue)

    2021 (year ended March 31, 2022): $297.3 million (8.5%)

    2020 (year ended March 31, 2021): $241.1 million (7.1%)

    2019 (year ended March 31, 2020): $285.6 million (9.2%)

    2018 (year ended March 31, 2019): $249.3 million (9.3%)

    2017 (year ended March 31, 2018): $140.6 million (7.8%)

    2016 (year ended March 31, 2017): $173.9 million (9.8%)

    Zynga's historic stated worldwide "marketing and advertising" costs:

    2021: $831.7 million (29.7% of revenue)

    2020: $583.1 million (29.5%)

    2019: $377.2 million (28.5%)

    2018: $157.7 million (17.4%)

    Zynga's marketing and advertising expenses primarily consisted of player acquisition costs.

    Deals and strategic moves:

    Zynga:

    Take-Two bought Zynga, a San Francisco-based developer of mobile games, on May 23, 2022, in a deal valued by Take-Two at $9.5 billion.

    History:

    Take-Two was incorporated in September 1993.

    Zynga started in 2007 as Presidio Media. The company changed its name to Zynga in 2010.

    https://www.take2games.com

Target Corp.

  • Marketer profile
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    Overview:

    Target Corp. is a discount retailer based in Minneapolis.

    Rankings:

    Target ranked as the world's No. 10 retailer in the Top 250 ranking based on fiscal 2021 sales in Deloitte's Global Powers of Retailing 2023 report.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Target's stated "net advertising costs."

    Target's 10-K for year ended January 2023 said:

    "Advertising costs, which primarily consist of digital advertisements and media broadcast, are generally expensed at first showing or distribution of the advertisement. Reimbursements from vendors that are for specific, incremental, and identifiable advertising costs are recognized as offsets of these advertising costs within selling, general and administrative expenses. Net advertising costs were $1.5 billion in 2022, 2021 and 2020."

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Target's stated net advertising costs.

    History:

    Target's roots date to 1902, when George P. Dayton opened a store in Minneapolis. Dayton Co. opened its first Target discount store in 1962.

    Dayton later acquired Michigan retailer Hudson's and Chicago department store Marshall Field's. The company eventually rebranded its department stores as Marshall Field's.

    Dayton Hudson Corp. in 2000 renamed itself Target Corp. In 2004, the company sold Marshall Field's and another chain, Mervyn's. Marshall Field's was later acquired by Macy's, which rebranded the stores as Macy's. Mervyn's filed for bankruptcy and liquidated in 2008.

    https://www.target.com

Tencent Holdings

  • Marketer profile
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    Overview:

    Tencent Holdings Ltd. is an internet services firm operating in China.

    Tencent is incorporated in the Cayman Islands.

    Marketing spending:

    Worldwide ad spending:

    Total worldwide ad spending figures shown in the Ad Age World's Largest Advertisers report and related database are Tencent's stated worldwide "promotion and advertising expenses" converted to U.S. dollars by Ad Age Datacenter at average exchange rates.

    Stated worldwide promotion and advertising expenses:

    2022: 18.764 billion renminbi ($2.795 billion).

    2021: 31.335 billion renminbi ($4.856 billion).

    2020: 26.596 billion renminbi ($3.855 billion).

    2019: 16.405 billion renminbi ($2.376 billion).

    2018: 19.806 billion renminbi ($2.999 billion).

    2017: 13.661 billion renminbi ($2.022 billion).

    2016: 9.219 billion renminbi ($1.389 billion).

    2015: 5.814 billion renminbi ($936 million).

    2014: 5.833 billion renminbi ($950 million).

    Deals and strategic moves:

    Tencent Music Entertainment Group:

    Tencent Music Entertainment Group in December 2018 completed an initial public offering in the U.S. for American depositary shares. Tencent Holdings remains the controlling shareholder in Tencent Music Entertainment Group.

    Tencent Music operates Chinese music apps QQ Music, Kugou and WeSing.

    PDD Holdings:

    Tencent in February 2018 entered into a strategic cooperation agreement with Pinduoduo Inc., now PDD Holdings. PDD is a multinational e-commerce firm that operates the Pinduoduo and Temu platforms.

    Entities affiliated with Tencent held a 14.7% stake in PDD as of February 2023, according to PDD's annual regulatory filing.

    Snap:

    Snap, owner of U.S.-based messaging app Snapchat, in November 2017 disclosed that Tencent had purchased an approximately 12% stake in Snap.

    Tencent was an investor in pre-IPO Snap, which had its initial public offering in March 2017.

    In a U.S. regulatory filing in November 2017, Snap said:

    "We have long been inspired by the creativity and entrepreneurial spirit of Tencent and we are grateful to continue our longstanding and productive relationship that began over four years ago. For its part, Martin Lau, Tencent's president, informed us that Tencent is excited to deepen its shareholding relationship with us, and that it looks forward to sharing ideas and experiences."

    In Snap's annual regulatory filing for year ended December 2022, Snap said Tencent owned 17.6% of Snap Class A stock and 45.9% of Snap Class B stock.

    Tesla:

    Tencent as of year-end 2017 owned a 4.97% stake in Tesla, a U.S.-based marketer of electric cars and solar panels.

    Tencent as of March 2017 owned about a 5% stake in Tesla.

    Tencent initially bought about a 2.2% Tesla stake in 2016 for about $737 million and then acquired additional stock.

    Supercell:

    Tencent in October 2016 bought a stake in Supercell, a mobile game developer in Finland. Tencent bought an additional stake in 2019. Supercell became a Tencent subsidiary in October 2019.

    JD.com:

    Tencent in March 2014 sold some e-commerce businesses and assets to JD.com, an online retailer in China. At the same time, Tencent entered into a strategic cooperation agreement with JD.

    Tencent in March 2022 distributed a 2.3% stake in JD to Tencent shareholders.

    JD's April 2023 20-F filing said: "We and Tencent will continue to maintain our mutually beneficial business relationship, including our ongoing strategic partnership agreement."

    Stock:

    Naspers, an internet, entertainment and media company based in South Africa, owned a 26.93% stake in Tencent as of year-end 2022 through an entity, MIH Internet Holdings, controlled by Naspers, according to Tencent's annual report.

    Naspers in 2001 bought its stake in then-obscure Tencent for $32 million.

    https://www.tencent.com

Toyota Motor Corp.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Toyota Motor Corp. was the world's largest vehicle marketer based on number of vehicles sold in 2022.

    General Motors Co. ranked No. 1 in U.S. vehicle sales in 2022, taking the top spot back from Toyota.

    Toyota took the U.S. crown in 2021, displacing GM in the top spot. GM had been the top seller in the U.S. every year since 1931, when GM passed Ford Motor Co.

    Marketing spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is an Ad Age Datacenter estimate.

    Toyota stopped disclosing worldwide advertising costs effective with annual filings in the year ended March 2021.

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Agencies:

    Toyota hired Saatchi & Saatchi (then known as Dancer Fitzgerald Sample) as its U.S. agency in 1975.

    Deals and strategic moves:

    Alliances:

    Mazda:

    Toyota in August 2017 announced an alliance with Japanese automaker Mazda Motor Corp.

    Under the agreement, Mazda gave Toyota shares in Mazda valued at about $450 million, giving Toyota a 5.05% stake in Mazda.

    Toyota in turn gave Mazda shares in Toyota equivalent in value to those Mazda shares, resulting in Mazda getting a 0.25% stake in Toyota.

    The companies completed the transactions in October 2017.

    As part of the deal, the two companies built a 50/50 joint-venture factory in the U.S. to assemble a Toyota new crossover model (Corolla Cross) and a new Mazda crossover (CX-50). The factory, in Alabama, opened in 2021.

    The two companies also agreed to work together to develop technologies for electric vehicles.

    Subaru:

    Toyota formed an alliance with Japanese automaker Subaru Corp. in 2005 and expanded the relationship in 2008 and in 2019.

    Under the expanded alliance announced in September 2019, Toyota increased its stake in Subaru to 20.00% from 16.83%.

    Daihatsu:

    Toyota owns a majority of Daihatsu Motor Co., a Japan-based marketer of small cars.

    Hino:

    Toyota as of March 2022 owned 50.18% of the voting interests in Hino Motors, a publicly traded Japanese company that produces and sells commercial trucks and buses.

    Toyota, Hino, Daimler Truck Holding and Mitsubishi Fuso Truck and Bus Corp. in May 2023 announced an agreement to merge Hino and Mitsubishi Fuso.

    Daimler Truck, a Germany-based truck and bus company, as of year-end 2021 owned about 89% of Japan-based Mitsubishi Fuso Truck and Bus Corp.

    Toyota and Daimler Truck planned to equally invest in the listed holding company of the merged Mitsubishi Fuso and Hino.

    The companies aimed to complete the deal by the end of 2024.

    Mercedes-Benz Group (formerly Daimler) spun off Daimler Truck in 2021.

    Other deals and strategic moves:

    Toyota in 2016 discontinued Scion, a youth-oriented brand. Toyota had established Scion in 2003 as a test laboratory division for Toyota Motor Sales USA. Model year 2017 Scions were rebranded as Toyotas starting in August 2016.

    Management and employees:

    Koji Sato succeeded Akio Toyoda as president-CEO of Toyota Motor Corp. in April 2023.

    Sato was born Oct. 19, 1969, and joined Toyota in 1992. He was chief branding officer, president of Lexus International and president of Toyota's Gazoo Racing Co. before taking the CEO post.

    Toyoda, a member of the company's founding family, had been president-CEO since 2009. Toyoda was born May 3, 1956, and joined Toyota in 1984. He became chairman of Toyota in April 2023.

    https://www.global.toyota/en

Uber Technologies

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Uber Technologies offers ridesharing and other services through a network of drivers, consumers, restaurants, shippers and carriers.

    San Francisco-based Uber completed its initial public offering in May 2019.

    Business segments and operations:

    Sales and earnings:

    Uber generates more than half of revenue from the U.S.

    U.S. revenue as a share of worldwide revenue:

    2022: 56.3%

    2021: 51.9%

    2020: 54.6%

    2019: 61.3% (restated)

    2018: 55.8% (restated)

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Ad Age Datacenter estimates of Uber's U.S. advertising expenses.

    Uber made its Ad Age Leading National Advertisers debut in the June 2019 report.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Uber's stated worldwide "advertising expenses."

    Uber reported 2022 worldwide advertising expenses of $1.7 billion.

    Uber made its Ad Age World's Largest Advertisers debut in the December 2019 report.

    Ad expenses are part of Uber's reported "sales and marketing" expenses.

    Uber reported 2022 worldwide sales and marketing expenses of $4.8 billion.

    Sales and marketing expenses primarily consist of compensation costs, including stock-based compensation to sales and marketing employees, advertising costs, product marketing costs and discounts, loyalty programs, promotions, refunds, and credits provided to end-users who are not customers, and the allocation of certain corporate costs.

    Uber said in its 10-K for year ended December 2022:

    "Sales and marketing expenses [in 2022] decreased $33 million, or 1%, primarily attributable to a $227 million decrease in consumer discounts, rider facing loyalty expense, promotions, credits and refunds to $2.2 billion compared to $2.4 billion in 2021, partially offset by a $152 million increase in employee headcount costs, a $25 million increase in indirect advertising and marketing, and an $19 million increase in stock-based compensation."

    That 10-K also said:

    "As our business recovers from the impacts of COVID-19, we would anticipate sales and marketing expenses to increase on an absolute dollar basis for the foreseeable future but vary from period to period as a percentage of revenue due to timing of marketing campaigns."

    Uber said in its 10-K for year ended December 2021:

    "Sales and marketing expenses [in 2021] increased $1.2 billion, or 34%, primarily attributable to a $681 million increase in consumer advertising expenses as well as an increase in consumer discounts, rider facing loyalty expense, promotions, credits and refunds of $384 million to $2.4 billion compared to $2.0 billion in the same period in 2020."

    That 10-K also said:

    "As our business recovers from the impacts of COVID-19, we would anticipate sales and marketing expenses to increase on an absolute dollar basis for the foreseeable future but vary from period to period as a percentage of revenue due to timing of marketing campaigns."

    Uber said in its 10-K for year ended December 2020:

    "Sales and marketing expenses [in 2020] decreased $1.0 billion, or 23%, primarily attributable to a decrease in discounts, loyalty expenses, promotions, credits and refunds of $446 million to $2.0 billion compared to $2.5 billion in 2019, a decrease of $298 million in consumer advertising and other marketing programs, as well as a $194 million decrease in stock-based compensation related to [restricted stock units] RSUs with a performance condition satisfied upon our [initial public offering] in 2019."

    That 10-K also said:

    "As our business recovers from the impacts of COVID-19, we would anticipate sales and marketing expenses to increase on an absolute dollar basis for the foreseeable future but vary from period to period as a percentage of revenue due to timing of marketing campaigns."

    Uber said in its 10-K for year ended December 2019:

    "Sales and marketing expenses [in 2019] increased $1.5 billion, or 47%, primarily attributable to an increase in consumer discounts, rider facing loyalty expense, promotions, credits and refunds, stock-based compensation related to RSUs with a performance condition satisfied upon our IPO and employee headcount costs. Consumer discounts, rider facing loyalty expense, promotions, credits and refunds increased $1.1 billion to $2.5 billion compared to $1.4 billion in 2018."

    That 10-K also said:

    "We expect that sales and marketing expenses will increase on an absolute dollar basis and vary from period to period as a percentage of revenue for the foreseeable future as we plan to continue to invest in sales and marketing to grow the number of platform users and increase our brand awareness. The trend and timing of our brand marketing expenses will depend in part on the timing of marketing campaigns."

    Uber discussed sales and marketing expenses in a 2019 filing for its initial public offering:

    "Sales and marketing expenses consist primarily of compensation expenses, including stock-based compensation to sales and marketing employees, advertising expenses, expenses related to consumer acquisition and retention, including consumer discounts, promotions, refunds, and credits, Driver referrals, and allocated overhead. We expense advertising and other promotional expenditures as incurred.

    "We expect that sales and marketing expenses will increase on an absolute dollar basis and vary from period to period as a percentage of revenue for the foreseeable future as we plan to continue to invest in sales and marketing to grow the number of platform users and increase our brand awareness. The trend and timing of our brand marketing expenses will depend in part on the timing of marketing campaigns."

    An IPO filing also said:

    "We market our offerings to platform users directly through brand advertising and direct marketing. We use broad-based promotional campaigns, such as television ads, including our 'Doors Are Always Opening' campaign, to promote opportunities our platform provides. Our direct marketing primarily consists of consumer discounts, promotions, and referrals. We attract consumers through sponsored search, social networking sites, email marketing campaigns, and other similar initiatives. We have focused on optimizing our performance marketing spend. We employ an aggregate sales force of over 500 people."

    Uber discussed sales and marketing spending growth in a 2019 filing for its initial public offering:

    2018 vs. 2017: "Sales and marketing expenses increased by $627 million, or 25%, from 2017 to 2018. This increase was primarily due to increased consumer discounts, promotions, refunds, and credits, as well as increased consumer advertising and other marketing programs. Additionally, we had a 27% increase in sales and marketing headcount that resulted in $111 million in increased compensation and allocated facilities expenses as we continued to make investments in attracting, retaining, and engaging platform users. Included in sales and marketing expenses were $949 million and $1.4 billion of consumer discounts, promotions, refunds, and credits in 2017 and 2018, respectively, and $199 million and $136 million of Driver referrals in 2017 and 2018, respectively."

    2017 vs. 2016: "Sales and marketing expenses increased by $930 million, or 58%, from 2016 to 2017. This increase was primarily due to $419 million in higher advertising and other marketing programs spend, $331 million in increased consumer discounts, promotions, refunds, and credits, and a 177% increase in sales and marketing headcount that resulted in $108 million in increased compensation and allocated facilities expenses as we continued to make investments in attracting, retaining, and engaging platform users. Included in sales and marketing expenses are $618 million and $949 million of consumer discounts, promotions, refunds, and credits in 2016 and 2017, respectively, and $167 million and $199 million of Driver referrals in 2016 and 2017, respectively."

    Deals and strategic moves:

    Transplace:

    Uber Freight in November 2021 bought Transplace, a managed transportation and logistics network, from buyout firm TPG Capital for about $2.3 billion.

    Drizly:

    Uber in October 2021 bought Boston-based The Drizly Group, an alcohol delivery service, for total consideration of $943 million.

    Cornershop:

    Uber in August 2021 bought the remaining 47% stake in Cornershop Global, a grocery delivery venture based in Santiago, Chile. Uber bought a majority stake in Cornershop in July 2020 for about $361 million.

    Postmates:

    Uber on Dec. 1, 2020, bought San Francisco-based Postmates, a U.S. food delivery service, for about $3.9 billion. In announcing closing of the deal, Uber said: "The consumer-facing Postmates and Uber Eats apps will continue to run separately, supported by a more efficient, combined merchant and delivery network."

    Electric bikes and scooters:

    Uber in May 2020 entered a deal with Neutron Holdings (doing business as Lime) in which Uber made an investment in Lime and took a 16% stake (including stock and stock warrants). As part of the deal, Uber folded its Jump business into Lime.

    Uber entered the e-scooter business in 2018 when it bought Social Bicycles Holdings, which operated Jump, a dockless electric bike and electric scooter sharing company based in Brooklyn, for $139 million.

    Careem:

    Uber in January 2020 bought Careem, a Dubai-based company that provides ridesharing, meal delivery and payment services across the Middle East, North Africa and Pakistan. Price tag was about $3.0 billion.

    Alphabet relationship:

    Uber's 2019 initial public offering filing said: "We have entered into various marketing, advertising, and technology service agreements with affiliates of Alphabet Inc., a beneficial holder of more than 5% of our outstanding capital stock, pursuant to which such affiliates have agreed to provide us with marketing and advertising services and technology infrastructure and enterprise services. From January 1, 2016 through December 31, 2018, we have paid Alphabet's affiliates an aggregate of approximately $631 million for marketing and advertising services, an aggregate of approximately $70 million for technology infrastructure and enterprise services, and an aggregate of approximately $1 million for related services under these agreements.

    "In April 2016, we entered into an Android Pay Agreement (amended in May and October 2016) with Google Inc., an affiliate of Alphabet ... pursuant to which Google agreed to pay us for promoting Google Pay on our platform in the United States. In October 2016, we entered into an Android Pay Agreement (amended in December 2016) with Google and certain of its international affiliates pursuant to which Google agreed to pay us for promoting Google Pay on our platform outside the United States. Since January 1, 2017, Google has paid us an aggregate of approximately $3.1 million pursuant to these agreements."

    The IPO filing also said: "In October 2015, we entered into a Google Maps for Work Master Agreement with Google Inc. that was amended in August 2017 and supplemented with two order forms with Google ... pursuant to which Google agreed to provide us with mapping and related services that are integrated into our platform. From January 1, 2016 through December 31, 2018, we have paid Google an aggregate of approximately $58 million pursuant to this agreement. Such agreement remains in effect."

    Divestitures:

    Uber in January 2021 sold Apparate USA, a subsidiary focused on development and commercialization of autonomous vehicle technologies, to Aurora Innovation.

    Uber in 2018 divested its Russia/Commonwealth of Independent States holdings; and sold the company's Southeast Asia operations.

    Uber in 2016 sold its interest in Uber China to China-based Didi Chuxing (officially known as Xiaoju Kuaizhi). In that transaction, Uber received a minority stake in Didi Chuxing, now DiDi Global.

    Stock:

    Uber on May 14, 2019, completed its initial public offering, selling 180 million shares of common stock at $45 a share. Uber received net proceeds of about $8.0 billion after deducting underwriting discounts and commissions of $106 million and offering expenses.

    History:

    Uber was founded in 2009 and incorporated as Ubercab in July 2010. The company in February 2011 changed its name to Uber Technologies.

    Uber began its ridesharing service in 2010, starting in the U.S.

    The company introduced the Uber Eats app in 2016.

    Uber Freight launched in 2017. Uber at year-end 2022 owned a 74% stake in Uber Freight.

    https://www.uber.com

Verizon Communications

  • Marketer profile
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    Overview:

    Verizon Communications is a telecommunications company based in New York.

    Verizon's holdings include Verizon Wireless, a U.S. wireless-service provider.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are the company's stated worldwide "advertising costs."

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are the company's stated worldwide advertising costs.

    Deals and strategic moves:

    TracFone Wireless:

    Verizon on Nov. 23, 2021, bought TracFone Wireless, a U.S. prepaid mobile phone provider, from Mexico-based telecom firm America Movil. Price tag was about $3.6 billion, net of cash acquired, and 57,596,544 shares of Verizon stock valued at about $3.0 billion plus up to $650 million in future cash consideration related to performance measures and other commercial arrangements.

    As of November 2021, TracFone had about 20 million subscribers; more than 13 million of those subscribers were served over Verizon's wireless network through an existing wholesale agreement.

    TracFone Wireless brands included Tracfone, Net10 Wireless, StraightTalk Wireless, SafeLink Wireless, Total Wireless, Walmart Family Mobile, Clearway, Simple Mobile and Page Plus.

    Verizon Media sale:

    Verizon on Sept. 1, 2021, sold Verizon Media to buyout firm Apollo Global Management for $4.3 billion in cash and $750 million in non-convertible preferred limited partnership units. Verizon kept a 10% stake in the business, which took the name Yahoo after the transaction closed.

    The sale ended Verizon's attempt to build a digital-media business.

    Verizon in June 2015 bought AOL, an ad-tech and digital-media company, for about $3.8 billion in cash, net of cash acquired of about $500 million. AOL had been a standalone company since December 2009, when Time Warner spun it off as a separate public company. That split marked the end of a much-debunked merger created with America Online's acquisition of Time Warner in January 2001.

    Verizon in June 2017 bought the operating business of internet media pioneer Yahoo Inc. for $4.7 billion. Yahoo operations included internet search (Yahoo Search), communications (Yahoo Mail and Yahoo Messenger) and digital content (Tumblr and four key verticals: Yahoo News, Yahoo Sports, Yahoo Finance, and Yahoo Lifestyle).

    Upon completing the Yahoo deal, Verizon combined Yahoo operations with AOL under a newly formed digital media and technology division, Oath. Yahoo and AOL continued as brands under Oath. Verizon in January 2019 changed the name of Oath to Verizon Media.

    Verizon Media in August 2019 sold Tumblr to a company that owned the WordPress blog platform.

    Verizon Media in February 2021 sold digital-media brand HuffPost (formerly Huffington Post) to BuzzFeed. As part of the deal, Verizon Media became a minority shareholder in BuzzFeed, a digital-media firm. AOL had purchased Huffington Post in 2011 for $315 million.

    Vodafone:

    Verizon Communications, the 55% owner of Verizon Wireless, in February 2014 acquired the remaining 45% stake from Vodafone Group, a U.K.-based telecom firm, for about $130 billion (including $58.9 billion cash; $60.2 billion in Verizon stock; $5.0 billion in Verizon notes; the sale of Verizon's minority interest in Italian phone company Vodafone Omnitel, valued at $3.5 billion; and other consideration worth $2.5 billion). Verizon and Vodafone announced the deal in September 2013.

    History:

    Verizon Communications is a rollup of two Baby Bells (Nynex and Bell Atlantic)--companies that split off from American Telephone & Telegraph Co. in 1984's Bell System breakup--and GTE.

    Bell Atlantic Corp. merged with Nynex Corp. on Aug. 14, 1997; the merged company was called Bell Atlantic.

    Bell Atlantic on June 30, 2000, merged with telecom firm GTE Corp.; the merged company took the name Verizon Communications.

    Rival AT&T Inc. owns four of the seven Baby Bells that on Jan. 1, 1984, broke off from American Telephone & Telegraph Co. (which became AT&T Corp.): Ameritech, BellSouth, Pacific Telesis Group and Southwestern Bell (which became SBC). (SBC Communications adopted the name AT&T Inc. after SBC bought AT&T Corp. in 2005.)

    Qwest Communications in 2000 acquired the seventh Baby Bell, U S West. Telecom rollup CenturyLink (formerly CenturyTel) in April 2011 acquired Qwest. CenturyLink in January 2021 changed its name to Lumen Technologies. Lumen in October 2022 sold its local phone business(operating under the CenturyLink brand) in 20 Midwest and Southeast states to buyout firm Apollo Global Management.

    https://www.verizon.com

Visa

  • Marketer profile
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    Overview:

    Visa is a global payments company that provides financial institutions, its primary customers, with services for credit cards, debit cards, prepaid cards and commercial payments.

    Business segments and operations:

    Visa defined itself as follows in its 10-K for year ended September 2022:

    "Visa is one of the world's leaders in digital payments. Our purpose is to uplift everyone, everywhere by being the best way to pay and be paid. We facilitate global commerce and money movement across more than 200 countries and territories among a global set of consumers, merchants, financial institutions and government entities through innovative technologies.

    Reorganization:

    Visa on June 21, 2016, acquired Visa Europe, creating a single global company. See "Deals and strategic moves."

    Prior to an October 2007 reorganization, Visa operated as five corporate entities related by ownership and membership: Visa USA, Visa International Service Association (consisting of operating regions of Asia Pacific; Latin America and Caribbean; Central and Eastern Europe; Middle East and Africa); Visa Canada; Inovant; and Visa Europe.

    In the October 2007 reorganization, Visa USA, Visa International Service Association, Visa Canada and Inovant became direct or indirect subsidiaries of Visa. Visa Europe at that point did not become a subsidiary of Visa but instead remained owned and governed by its European member financial institutions.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate of U.S. marketing expenses.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Visa's stated worldwide "marketing" expenses (formerly called "advertising, marketing and promotion").

    In its 10-K filing, Visa disclosed worldwide marketing expenses of $1.336 billion in the year ended September 2022 (fiscal 2022), up from $1.136 billion in the year ended September 2021.

    The 10-K for year ended September 2022 said: "Marketing expenses include expenses associated with advertising and marketing campaigns, sponsorships and other related promotions of the Visa brand."

    Visa said in its 10-K for year ended September 2022:

    "Marketing expenses increased due to higher spending in various campaigns, including the FIFA World Cup 2022 and the Olympic and Paralympic Winter Games Beijing 2022, and client marketing."

    Visa said in its 10-K for year ended September 2021:

    "Marketing expenses increased as we lapped reductions in spending in the prior year at the outset of COVID-19 as well as higher spending in client marketing and various campaigns, including the Olympic Games Tokyo 2020, which were held in Summer 2021."

    Visa said in its 10-K for year ended September 2020:

    "Marketing expenses decreased reflecting our overall cost reduction strategy, the absence of FIFA women's world cup and the delay of the Tokyo Olympics to fiscal 2021, partially offset by an increase in client marketing spend."

    Visa said in its 10-K for year ended September 2019:

    "Marketing expenses increased mainly due to changes in the classification and timing of recognition of certain marketing expenses as a result of the adoption of the new revenue standard. The increase was partially offset by spend for the 2018 Winter Olympics in PyeongChang and 2018 FIFA World Cup in fiscal 2018, which did not recur in fiscal 2019."

    Visa said in its 10-K for year ended September 2018:

    "Marketing expenses increased in fiscal 2018 primarily due to higher spending in support of a number of campaigns, including the Olympic Winter Games PyeongChang 2018 and 2018 FIFA World Cup."

    Visa said in its 10-K for year ended September 2017:

    "Visa is a party to contractual sponsorship agreements ranging from approximately two to sixteen years. These contracts are designed to increase Visa brand recognition, drive Visa product usage, and differentiate Visa against competition. Over the life of these contracts, Visa is required to make payments in exchange for certain advertising and promotional rights. In connection with these contractual commitments, Visa has an obligation to spend certain minimum amounts for advertising and marketing promotion over the life of the contract."

    Visa said in its 10-K for year ended September 2016:

    "Marketing expenses in fiscal 2016 reflect efficiencies in production and agency costs which were redeployed for other marketing uses, and Visa Europe expenses for the fiscal fourth quarter. The decrease in marketing during fiscal 2015 compared to fiscal 2014 was mainly due to the overall strengthening of the U.S. dollar as marketing spend in local currencies was converted to U.S. dollars, combined with the absence of the 2014 Sochi Winter Olympics and 2014 FIFA World Cup spend that was incurred in fiscal 2014. The decrease was partially offset by increases in promotional campaigns that support our growth strategies and product initiatives."

    Visa said in its 10-K for year ended September 2015:

    "Marketing decreased in fiscal 2015 mainly due to the overall strengthening of the U.S. dollar as marketing spend in local currencies was converted to U.S. dollars, combined with the absence of the 2014 Sochi Winter Olympics and 2014 FIFA World Cup spend incurred in fiscal 2014. The decrease was partially offset by on-going advertising and promotional campaigns to support our growth strategies and new product initiatives, such as Visa Checkout, which began in the second half of fiscal 2014. The increase in marketing during fiscal 2014 compared to fiscal 2013 was also attributable to elevated spend supporting the two sporting campaigns."

    Visa said in its 10-K for year ended September 2014:

    "Marketing increased in fiscal 2014 mainly due to elevated spend supporting the 2014 Sochi Winter Olympics and the 2014 FIFA World Cup campaigns, combined with increased spend in the second half of the year to support our growth strategies and new product initiatives, such as Visa Checkout. Marketing in fiscal 2013 remained relatively flat compared to fiscal 2012 reflecting strategies to promote our products in each of those years and spend on specific campaigns, such as the 2013 FIFA Confederation Cup and preparation for the 2014 Sochi Winter Olympics in fiscal 2013 and the 2012 London Summer Olympics in fiscal 2012."

    Visa said in its 10-K for year ended September 2013:

    "Marketing remained relatively flat in fiscal 2013 and fiscal 2012 when compared to the respective prior year. Fiscal 2013 activity mainly reflected strategies to promote our core products, combined with a number of various campaigns, including the 2013 FIFA Confederation Cup and the 2014 Sochi Winter Olympics. Marketing in fiscal 2012 mainly reflected sponsorship of the 2012 London Summer Olympics, as well as spend in support of our new product initiatives."

    Visa called the expense line "marketing" beginning in the 10-K for year ended September 2011 (fiscal 2011). It previously called the expense line "advertising, marketing and promotion."

    The 10-K for year ended September 2010 said: "Advertising, marketing and promotion includes advertising and marketing campaigns, sponsorships and other related promotions to promote the Visa brand."

    Predecessor Visa USA had stated advertising, marketing and promotion expenses of $581 million in the year ended September 2007.

    Olympics sponsorship:

    Visa has been the exclusive payment card sponsor for the Olympic Games since 1986.

    Deals and strategic moves:

    Plaid acquisition (terminated):

    Visa and Plaid in January 2021 terminated a deal for Visa to buy Plaid, a data network that powers various financial apps and services. This came after the Justice Department in November 2020 filed a civil antitrust lawsuit to stop the merger. Visa in January 2020 had signed a deal to buy San Francisco-based Plaid for $5.3 billion.

    Visa Europe acquisition:

    Visa on June 21, 2016, completed a deal to acquire Visa Europe, creating a single global company.

    Visa paid up-front cash of 12.2 billion euros ($13.9 billion); issued preferred stock valued at 5.3 billion euros ($6.1 billion ); and agreed to pay an additional 1.0 billion euros, plus 4% compound annual interest, on the third anniversary of the closing.

    After purchase adjustments, Visa calculated the "total accounting purchase consideration" for Visa Europe at $18.784 billion, according to Visa's 10-K for year ended September 2016.

    Other deals and strategic moves:

    Visa in March 2022 bought Tink, an open banking platform in Europe used by banks, financial technology firms and merchants, for $1.9 billion in cash.

    Visa in December 2021 bought Currency Cloud Group, a U.K.-based global foreign-exchange platform, for total purchase consideration of $893 million.

    Stock:

    Visa's 2007 reorganization (see "Business segments and operations") paved the way for Visa's initial public offering of stock in March 2008. That followed a 2006 IPO by rival Mastercard. Morgan Stanley in 2007 spun off its credit card unit, Discover Financial Services, as a separate public company.

    http://www.visa.com

Volkswagen

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Volkswagen in 2022 was the world's second-largest vehicle marketer based on number of vehicles sold, behind Toyota Motor Corp.

    Volkswagen is based in Wolfsburg, Germany.

    Business segments and operations:

    The Volkswagen group includes Audi, Bentley, Cupra, Ducati, Lamborghini, Porsche, Seat, Skoda, Volkswagen Passenger Cars and Volkswagen Commercial Vehicles.

    Lamborghini and Ducati are units of the Audi operation. Cupra is part of Seat.

    Volkswagen is developing a U.S. brand, Scout, that intends to market electric pickup trucks and rugged sport utility vehicles.

    Volkswagen also controls Traton, a truck and bus marketer.

    Production:

    Audi in 2016 opened an assembly plant in Mexico, its first factory in North America.

    Volkswagen opened an auto factory in Tennessee in 2011. This was Volkswagen's second run at U.S. manufacturing. Volkswagen previously operated a factory in Pennsylvania that opened in 1978 and closed in 1988.

    Rankings:

    Worldwide:

    Toyota regained status as the world's biggest vehicle seller in 2020, passing Volkswagen. Toyota and Volkswagen continued as Nos. 1 and 2, respectively, in both 2021 and 2022.

    Volkswagen in 2016 topped Toyota (No. 2) in worldwide vehicle sales, taking the lead for the first time. Volkswagen kept the top spot in 2017, 2018 and 2019.

    Toyota was No. 1 from 2007 through 2010; No. 2, behind General Motors Co., in 2011; and No. 1 from 2012 through 2015.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Worldwide ad spending:

    Total worldwide advertising spending shown in the Ad Age World's Largest Advertisers report and related database is an Ad Age Datacenter estimate.

    Deals and strategic moves:

    Porsche:

    Volkswagen in September 2022 sold a minority stake in its Porsche unit (Dr. Ing. h.c. F. Porsche AG) through an initial public offering on the Frankfurt Stock Exchange.

    Volkswagen continued to consolidate Porsche in its consolidated financial statements after the IPO.

    As of year-end 2022, Volkswagen held 75.4% of the total capital of Porsche, according to Volkswagen's annual report.

    Volkswagen in August 2012 took control of Porsche under a complicated deal.

    Volkswagen and Porsche, a German sports car manufacturer, in May 2009 issued a statement confirming their intent to create "an integrated automotive group."

    The companies agreed on general terms of a deal in August 2009. Volkswagen in 2009 took a 49.9% stake in Porsche. Long-awaited plans for a merger of the two companies continued in 2011. But the two automakers in September 2011 said a merger couldn't be completed by the end of 2011.

    The two companies in July 2012 agreed on an alternative deal. Specifically, effective Aug. 1, 2012, Volkswagen and Porsche formally created an "Integrated Automotive Group." Volkswagen at that point bought the remaining 50.1% stake of Porsche AG from Porsche Automobil Holding SE (Porsche SE), giving Volkswagen 100% ownership of Porsche AG. Porsche SE at that point owned 50.7% of Volkswagen. The result was that Porsche's auto business came under the Volkswagen umbrella.

    Bugatti-Rimac:

    Volkswagen in November 2021 moved Bugatti, a French luxury high-performance car brand, into a joint venture with Rimac Automobili, a Croatia-based electric supercar startup. Rimac holds a 55% share in the joint venture, Bugatti-Rimac, which has its headquarters in Zagreb, Croatia. Volkswagen's Porsche has a 45% stake in the joint venture. Porsche also holds a 22% stake in Rimac directly. Porsche has been an investor in Rimac since 2018.

    Traton:

    Volkswagen controls Traton, a truck and bus marketer whose brands include Scania, MAN, Volkswagen Truck & Bus, Navistar and Rio.

    Volkswagen at year-end 2022 owned an 89.72% stake in Traton, according to Traton's annual financial statements.

    Germany-based Traton in July 2021 bought the remaining portion of U.S. truck marketer Navistar International Corp. for about $3.7 billion. Traton already owned a 16.7% stake in Navistar, which marketed International brand commercial trucks and engines and IC Bus brand school and commercial buses.

    Navistar owned the trademark for Scout, a defunct SUV brand that Volkswagen is resurrecting as a U.S. brand of electric pickups and SUVs.

    Volkswagen in June 2019 staged an initial public offering for a minority stake in Traton, formerly Volkswagen Truck & Bus. Volkswagen continued as majority shareholder in Traton. In announcing a potential IPO in September 2018, Frank Witter, a member of Volkswagen's management, said: "As passenger car and truck business are fundamentally different and synergies are basically limited to procurement, the separation of the two areas makes absolutely sense."

    Volkswagen in August 2018 changed the name of Volkswagen Truck & Bus to Traton Group (Traton).

    China joint ventures:

    Volkswagen is a partner in joint ventures in China.

    SAIC-Volkswagen Automobile Co. is a joint venture that is 50% owned by China's SAIC Motor Corp. and 50% by Volkswagen.

    SAIC-Volkswagen Sales Co. is a joint venture with SAIC Motor Corp. Volkswagen as of 2022 said it owned a 30% stake.

    SAIC-Volkswagen Sales Co. sells passenger cars for SAIC-Volkswagen Automobile Co. As a result, SAIC-Volkswagen Automobile Co.'s sales revenue is mostly generated from its business with SAIC-Volkswagen Sales Co.

    Volkswagen also has a joint venture in China with another auto manufacturer, China FAW Group Corp., that develops, produces and sells passenger cars. Volkswagen as of 2022 said it owned a 40% stake in that joint venture, FAW-Volkswagen Automotive Co. China FAW Group Corp. was originally known as First Automotive Works.

    Other deals and strategic moves:

    Volkswagen in September 2015 sold its 19.9% stake in Japanese automaker Suzuki Motor Corp. back to Suzuki for 3.1 billion euros ($3.5 billion). Volkswagen in 2009 bought that stake, but the relationship soon fractured. Suzuki filed an arbitration claim against Volkswagen; the German automaker filed counterclaims. Suzuki in November 2012 announced it was exiting the U.S. auto market.

    Volkswagen's Audi on July 19, 2012, bought Ducati Motor Holding, an Italian motorcycle manufacturer, bringing Ducati into the group. Audi paid 747 million euros ($917 million). (Ducati officially was purchased by Lamborghini, which is an Italian subsidiary of Audi.)

    https://www.volkswagenag.com

Walmart

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Walmart is the world's largest retailer.

    The company maintains three operating segments: Walmart U.S.; Walmart International; Sam's Club.

    Corporate name and logo:

    Wal-Mart Stores in 2008 gave its flagship unit an updated logo and changed the store name to "Walmart" from "Wal-Mart."

    "Wal-Mart Stores, Inc." changed its legal name to "Walmart Inc." on Feb. 1, 2018.

    Rankings:

    Walmart ranked as the world's largest retailer in the Top 250 ranking based on fiscal 2021 sales in Deloitte's Global Powers of Retailing 2023 report.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Ad Age Datacenter estimates.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Walmart's stated worldwide "advertising costs."

    Deals and strategic moves:

    Walmart in 2023 sold three retail ventures-Bonobos, Eloquii, Moosejaw-as it pulled back from an earlier e-commerce diversification.

    Walmart in May 2023 sold U.S. apparel marketer Bonobos to brand management firm WHP Global and retailer Express for a combined purchase price of $75 million. WHP bought the Bonobos brand for $50 million; Express bought the operating assets and assumed the related liabilities of the Bonobos business for $25 million. Express entered a license agreement with WHP giving Express an exclusive U.S. license for the Bonobos brand. Walmart bought Bonobos in 2017 for $310 million.

    Walmart in April 2023 sold Eloquii, an apparel brand for plus-size women, to FullBeauty Brands. Walmart bought Eloquii in 2018.

    Walmart in March 2023 sold Moosejaw, an online specialty outdoor products retailer, to Dick's Sporting Goods. Walmart bought Moosejaw in 2017.

    Walmart and Gap Inc. in May 2021 announced a strategic partnership to introduce Gap Home, a new brand of home goods--home decor, tabletop, bedding and bath--available exclusively at Walmart starting in June 2021. The deal was developed in partnership with Gap's licensing agency, IMG.

    Walmart in January 2021 sold Shoes.com, an online shoe retailer, to buyout firm CriticalPoint Capital. Walmart in December 2016 bought Shoebuy, an online shoe retailer, from IAC for about $70 million. Shoebuy was founded in 1999 and acquired by IAC in 2006. Shoebuy in 2017 rebranded as Shoes.com.

    Walmart in summer 2020 sold Bare Necessities, an online retailer of intimate apparel, to Delta Galil Industries, a global manufacturer and marketer of branded and private label apparel. Walmart bought Bare Necessities in October 2018. Bare Necessities was founded in 1998.

    Walmart in May 2020 said it was shuttering Jet.com, an online retail business. In announcing the move, Walmart said: "Due to continued strength of the Walmart.com brand, the company will discontinue Jet.com. The acquisition of Jet.com nearly four years ago was critical to accelerating our omni strategy." Walmart on Sept. 19, 2016, bought Jet.com for $2.4 billion, net of cash acquired; as part of the transaction, Walmart agreed to pay additional compensation of about $800 million over a five-year period.

    Comcast Corp.'s NBCUniversal, through its Fandango unit, in April 2020 purchased Vudu from Walmart. Vudu, acquired by Walmart in 2010, lets consumers watch movies delivered over broadband.

    Walmart in October 2019 sold ModCloth, an online retailer of trendy hipster clothing, to Go Global Retail. Walmart bought ModCloth in 2017.

    Walmart and U.K. retailer J Sainsbury plc in April 2019 terminated an agreement to combine Sainsbury's with Asda Group, Walmart's wholly owned U.K. retail subsidiary. The retailers had announced the deal in April 2018 but dropped it after the U.K. Competition and Markets Authority published its final report, resulting in prohibition of the merger. Walmart would have held a 42% stake in the combined business, which intended to maintain both the Sainsbury's and Asda brands. Walmart bought Asda in 1999.

    Walmart in early 2019 bought Art.com, an online retailer of art and wall decor.

    The company in August 2018 made a further investment of about $320 million in Dada-JD Daojia, an on-demand logistics platform and online-to-offline e-commerce platform in China. This followed an initial $50 million investment in Dada-JD Daojia in October 2016. The 2018 investment boosted Walmart's ownership stake to 10%.

    Walmart in August 2018 sold an 80% stake in Walmart Brazil to Advent International, a buyout firm. Under the deal, Walmart said it may receive up to $250 million in contingent consideration.

    Walmart in August 2018 bought an approximately 77% stake in Flipkart, an e-commerce retailer in India, for $16 billion. Existing Flipkart shareholders, including Flipkart co-founder Binny Bansal, Tencent Holdings, Tiger Global Management and Microsoft Corp., owned the rest. Flipkart was founded in 2007.

    Walmart and Capital One Financial Corp. in July 2018 announced a long-term credit card program agreement in which Capital One became the exclusive issuer of Walmart's co-brand and private-label credit card program in the U.S. beginning Aug. 1, 2019. Walmart previously had a credit card agreement with Synchrony Financial.

    Walmart in January 2018 entered a strategic alliance with Japanese retailer Rakuten. The agreement included launch of an online grocery delivery service in Japan beginning in third-quarter 2018. In addition, Walmart and Rakuten Kobo formed a retail alliance in which Walmart in 2018 began selling e-books and audiobooks as well as Rakuten Kobo eReaders in Walmart stores and online at Walmart.com in the U.S.

    Walmart on April 4, 2017, sold Suburbia, an apparel retailer in Mexico, for $1.0 billion.

    Walmart in June 2016 entered into a strategic cooperation agreement with JD.com, an online retailer in China. As of February 2023, Walmart owned a 9.2% stake in JD. JD's April 2023 20-F filing said: "As part of our strategic alliance with Walmart, we acquired ownership of the Yihaodian marketplace platform assets, including the Yihaodian brand, mobile apps and websites. We have collaborated with Walmart on e-commerce, including launching Sam's Club Flagship Store and Walmart Flagship Store on www.jd.com website, as well as Sam's Club Global Flagship Store, Walmart Global Flagship Store, Asda Flagship Store and several category global stores to sell specific category products (for example Walmart Beauty and Personal Care Global Store) on JD Worldwide and a one-hour delivery service from Walmart Stores and Sam's Clubs in select cities through the JD Daojia app. As part of the strategic alliance, we also entered into an eight-year non-compete arrangement with Walmart, subject to certain conditions and exceptions."

    History:

    Walmart's roots date to 1945, when Sam M. Walton opened a franchised Ben Franklin variety store in Newport, Arkansas. In 1946, his brother, James L. "Bud" Walton, opened a similar store in Versailles, Missouri. Sam Walton later closed his Newport location and opened a Ben Franklin store in Bentonville, Arkansas, that he called Walton's Five and Dime. (Bentonville to this day remains the company's headquarters.)

    The Waltons focused on variety stores until 1962. In that year, the first "Wal-Mart Discount City," a discount store, opened in Rogers, Arkansas.

    Wal-Mart Stores incorporated in October 1969.

    The company opened its first three Sam's Clubs in 1984.

    Walmart opened its first supercenter in fiscal 1988 and the first Neighborhood Market in fiscal 1999.

    Walmart expanded abroad for the first time in fiscal 1992, when it began a 50/50 joint venture in Mexico with Mexican firm Cifra. Walmart in 1998 acquired controlling interest in Cifra. In February 2000, Cifra changed its name to Wal-Mart de Mexico.

    Sam Walton died in 1992. Walmart co-founder James Walton died in 1995.

    "Wal-Mart Stores, Inc." on Feb. 1, 2018, changed its legal name to "Walmart Inc."

    https://corporate.walmart.com

Walt Disney Co.

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Walt Disney Co. is a media and entertainment firm based in Burbank, California.

    Disney completed its acquisition of 21st Century Fox on March 20, 2019.

    Disney and 21st Century Fox announced the deal Dec. 14, 2017. Under the deal, 21st Century Fox transferred its news, sports and broadcast businesses--including Fox News Channel, Fox Business Network, Fox Broadcasting Co., Fox Sports, Fox Television Stations Group, FS1, FS2, Fox Deportes and Big Ten Network--into a newly formed subsidiary, Fox Corp., and distributed all Fox Corp. shares to shareholders of 21st Century Fox on March 19, 2019. That made Fox Corp. a standalone public company.

    21st Century Fox retained--and so Disney bought--all assets and liabilities not transferred to Fox Corp. The deal included the 21st Century Fox film and TV studios, certain cable networks (including FX and National Geographic) and 21st Century Fox's international TV businesses. 21st Century Fox ended up as a wholly owned subsidiary of Disney.

    Sales and earnings:

    Sales and earnings shown in an accompanying table are stated figures for Walt Disney Co.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Ad Age Datacenter estimates.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are stated figures for year ended October 2022.

    Disney disclosed worldwide "advertising expense" of $7.2 billion in the year ended October 2022 (fiscal 2022), up from $5.5 billion in the prior year.

    Disney's 10-K filing for year ended October 2022 said: "The increase in advertising expense for fiscal 2022 compared to fiscal 2021 was due to higher spend for our DTC"--direct-to-consumer--"streaming services and an increase in theatrical marketing costs. The increase in advertising expense for fiscal 2021 compared to fiscal 2020 was due to higher spend for our DTC streaming services."

    Deals and strategic moves:

    ESPN Bet:Disney's ESPN in August 2023 signed a deal with Penn Entertainment giving Penn the right to create and use "ESPN Bet" as a brand for U.S. online sports betting for an initial 10-year term, which may be extended for an additional 10 years upon mutual agreement. Penn operates casinos and offers online sports betting. In announcing the deal, Penn said: "ESPN Bet, operated by Penn Interactive, will benefit from exclusive promotional services across ESPN platforms including programming, content and access to ESPN talent."Under the deal, Penn in fall 2023 rebranded its Barstool Sportsbook business as ESPN Bet. Penn agreed to pay ESPN $1.5 billion in cash over the initial 10-year period and granted ESPN warrants to buy Penn common stock.

    21st Century Fox:

    Disney completed its acquisition of 21st Century Fox effective 12:02 a.m. Eastern time on March 20, 2019.

    Disney said the acquisition purchase price totaled $69.5 billion, of which Disney paid $35.7 billion in cash and $33.8 billion in Disney stock.

    Disney and 21st Century Fox announced the deal Dec. 14, 2017. Under the deal, 21st Century Fox transferred its news, sports and broadcast businesses--including Fox News Channel, Fox Business Network, Fox Broadcasting Co., Fox Sports, Fox Television Stations Group, FS1, FS2, Fox Deportes and Big Ten Network--into a newly formed subsidiary, Fox Corp., and distributed all Fox Corp. shares to shareholders of 21st Century Fox on March 19, 2019. That made Fox Corp. a standalone public company.

    21st Century Fox retained--and so Disney bought--all assets and liabilities not transferred to Fox Corp. The deal included the 21st Century Fox film and TV studios, certain cable networks (including FX and National Geographic) and 21st Century Fox's international TV businesses. 21st Century Fox ended up as a wholly owned subsidiary of Disney.

    Comcast Corp. June 13, 2018, announced its own offer to buy 21st Century Fox, maneuvering to supplant the Disney deal. A bidding war ensued as Disney upped its offer.

    Comcast pulled its offer in July 2018, clearing the way for Disney to proceed with the deal.

    To win regulatory approval, Disney agreed to sell 21st Century Fox's interests in 22 regional sports networks. Disney in August 2019 sold 21 of the networks to Sinclair Broadcast Group. Disney that month also sold the remaining regional sports network stake-an 80% interest in Yankees Entertainment and Sports Network (YES)-to a newly formed investor group that included Yankee Global Enterprises and Sinclair. The Yankees already owned a 20% stake in YES.

    Comcast in September 2018 beat 21st Century Fox in an auction to acquire Sky, a U.K.-based satellite TV firm, for total cash consideration of 30.2 billion pounds (about $39.4 billion).

    Comcast in October 2018 bought Fox's 39.1% Sky stake for 11.6 billion pounds ($15.1 billion). Comcast bought the rest of Sky in a series of transactions in fourth-quarter 2018.

    Comcast in April 2018 made its first offer to buy Sky.

    21st Century Fox had been an investor in Sky and predecessors BSkyB and Sky Television since 1983.

    British Sky Broadcasting Group Plc (BSkyB) changed its name to Sky Plc in 2014.

    21st Century Fox in December 2016 signed a deal to buy the remaining Sky stake, subject to regulatory and shareholder approval. Disney had hoped to proceed with 21st Century Fox's Sky deal.

    Sky offers satellite across five countries (Italy, Germany, Austria, U.K., Ireland).

    Hulu:

    Disney has a two-thirds stake in and full operational control of Hulu, a streaming service offering live and on-demand TV and movies. Comcast's NBCUniversal owns the rest.

    Disney acquired 21st Century Fox on March 20, 2019, giving Disney a two-thirds stake and controlling interest. Disney at that point began to consolidate Hulu results.

    Disney and Comcast in May 2019 reached an agreement giving Disney full operational control of Hulu.

    Under that pact, the companies entered a "put/call" agreement regarding NBCUniversal's one-third ownership stake. Under the put/call agreement, as early as January 2024, Comcast can require Disney to buy NBCUniversal's interest in Hulu and Disney can require NBCUniversal to sell that interest to Disney for its fair market value at that future time. Disney guaranteed a sale price for Comcast that represents a minimum total equity value of Hulu at that time of $27.5 billion.

    Disney in November 2019 started another U.S. direct-to-consumer video service, Disney+.

    Lucasfilm:

    Disney in December 2012 bought Lucasfilm Ltd., creator of the "Star Wars" franchise, for $4.06 billion in cash and stock.

    Marvel Entertainment:

    Disney on Dec. 31, 2009, completed a deal to buy Marvel Entertainment in a transaction valued at $4.2 billion in cash and stock. Marvel is a comic-book company whose library includes Iron Man, Spider-Man, X-Men, Captain America, Fantastic Four and Thor. Marvel Entertainment uses its character franchises in licensing, entertainment (via Marvel Studios and Marvel Animation) and publishing (via Marvel Comics).

    Pixar:

    Disney in May 2006 paid $7.5 billion in stock to acquire Pixar, the animated film company formed by Apple co-founder Steve Jobs. Jobs, a Disney director, died in October 2011.

    Capital Cities/ABC:

    Disney bought Capital Cities/ABC in 1996, bringing the ABC TV network and an 80% stake in ESPN into the fold. (Hearst owns 20% of ESPN; Hearst bought its ESPN stake from RJR Nabisco in 1990.) Capital Cities had acquired ABC in 1986.

    Management and employees:

    Disney on Nov. 20, 2022, brought back Robert A. (Bob) Iger as CEO effective immediately. The company said Iger "agreed to serve as Disney's CEO for two years, with a mandate from the board to set the strategic direction for renewed growth and to work closely with the board in developing a successor to lead the company at the completion of his term."

    Under the agreement, Iger will be CEO through Dec. 31, 2024. Coinciding with his return as CEO, Iger also rejoined the board.

    Disney in July 2023 extended Iger's contract as CEO through Dec. 31, 2026. The company's announcement said: "In voting unanimously to extend Mr. Iger's contract by two years, the independent members of the board of directors noted that Iger's extension provides continuity of leadership during the company's ongoing transformation, and allows more time to execute a transition plan for CEO succession, which remains a priority for the board.

    Iger succeeded Bob Chapek, who was fired as CEO.

    A Disney filing in November 2022 said: "The company exercised its right to terminate without cause the employment of Robert A. Chapek as chief executive officer. Effective as of the termination, Mr. Chapek also resigned from the board pursuant to the terms of his employment agreement. In connection with his termination, Mr. Chapek will receive the separation benefits payable in accordance with the terms of his previously disclosed employment agreement."

    Disney on Feb. 25, 2020, had named Chapek as CEO, effective immediately. Chapek succeeded Iger, the chairman and CEO. Iger stayed on as executive chairman until his contract ended Dec. 31, 2021.

    Before becoming CEO, Chapek was chairman of Disney Parks, Experiences and Products. Chapek joined Disney in 1993. Before joining Disney, Chapek worked in brand management at H.J. Heinz Co. and in advertising at J. Walter Thompson.

    Iger joined Disney when the company bought Capital Cities/ABC in 1996. Iger began his career at ABC in 1974.

    Iger became Disney president in 2000. He became president-CEO in September 2005, succeeding CEO Michael Eisner.

    Iger took the chairman post in March 2012 when Chairman John Pepper retired. Pepper was a former chairman-CEO of Procter & Gamble Co.

    https://www.thewaltdisneycompany.com

Warner Bros. Discovery

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Warner Bros. Discovery is a global media and entertainment company created by the 2022 merger of Discovery and AT&T's WarnerMedia.

    Business segments and operations:

    Warner Bros. Discovery creates and distributes content across TV, film and streaming.

    The company's brands and franchises include Warner Bros. Pictures Group, Warner Bros. Television Group, DC, HBO, Max, Discovery Channel, CNN, HGTV, Food Network, TNT, TBS, TLC, OWN, Warner Bros. Games, Batman, Superman, Wonder Woman, Harry Potter, Looney Tunes, Hanna-Barbera, Game of Thrones and The Lord of the Rings.

    WarnerMedia (historic):

    AT&T's former WarnerMedia segment developed, produced and distributed feature films, television, gaming and other content.

    WarnerMedia's brands included HBO, HBO Max (a streaming service launched in 2020; rebranded as Max in 2023), Warner Bros., TNT, TBS, truTV, CNN, DC Entertainment, New Line, Cartoon Network, Adult Swim and Turner Classic Movies.

    Discovery (historic):

    Discovery was a global media company whose brands included Discovery Channel, HGTV, Food Network, TLC, Investigation Discovery, Travel Channel, Animal Planet and Science Channel as well as OWN: Oprah Winfrey Network in the U.S., Discovery Kids in Latin America and Eurosport in Europe.

    Marketing spending:

    U.S. ad spending:

    Total U.S. ad spending figures shown in the Ad Age Leading National Advertisers report and related database are Ad Age Datacenter estimates of pro forma figures for the merged company.

    Worldwide ad spending:

    Total U.S. ad spending figures shown in the Ad Age World's Largest Advertisers report and related database are Ad Age Datacenter estimates of pro forma figures for the merged company.

    Warner Bros. Discovery disclosed worldwide "advertising costs" of $2.519 billion for 2022 (including WarnerMedia starting April 8, 2022); $1.247 billion for 2021 (excluding WarnerMedia); and $412 million for 2020 (excluding WarnerMedia).

    Discovery (historic):

    Discovery reported the following worldwide advertising spending:

    2021: $1.247 billion (10.2% of total revenue)

    2020: $412 million (3.9%)

    2019: $390 million (3.5%)

    2018: $355 million (3.4%)

    WarnerMedia (historic):

    WarnerMedia's stated worldwide ad spending:

    2021: $3.584 billion (10.7% of revenue)

    2020: $2.518 billion (8.9%)

    2019: $2.945 billion (8.9%)

    Time Warner (historic):

    Time Warner, predecessor to WarnerMedia, reported 2017 worldwide ad spending of $2.528 billion, or 8.1% of revenue.

    Time Warner reported the following worldwide advertising spending:

    2017: $2.528 billion (8.1% of revenue)

    2016: 2.386 billion (8.1%)

    2015: 2.586 billion (9.2%)

    2014: 2.430 billion (8.9%)

    2013: 2.447 billion (9.2%)

    2012: 2.314 billion (9.1%)

    2011: 2.980 billion (10.3%)

    2010: 2.824 billion (10.5%)

    2009: 2.562 billion (10.1%)

    Earlier Time Warner 10-K filings showed the following worldwide advertising costs, including spending for Time Warner Cable and AOL (both spun off in 2009): $3.531 billion in 2008; $4.253 billion in 2007; $4.525 billion in 2006; $5.112 billion in 2005; $5.265 billion in 2004; $4.678 billion in 2003; and $4.271 billion in 2002.

    Deals and strategic moves:

    Merger of WarnerMedia and Discovery (2022):

    Discovery Inc. on April 8, 2022, completed its merger with the WarnerMedia business of AT&T and changed Discovery's name to Warner Bros. Discovery Inc. Shares on April 11, 2022, started trading on Nasdaq under the trading symbol WBD.

    AT&T received about $40.4 billion (including $38.8 billion of cash and $1.6 billion of debt retained by WarnerMedia). AT&T shareholders ended up with about a 71% stake in Warner Bros. Discovery; Discovery shareholders owned 29%.

    Discovery was deemed to be the accounting acquirer of WarnerMedia. So for accounting purposes, Discovery is considered Warner Bros. Discovery's predecessor.

    AT&T and Discovery announced the deal in May 2021.

    AT&T offloaded WarnerMedia less than four years after buying the company.

    AT&T's transaction with Discovery excluded WarnerMedia's Xandr, an ad tech unit that provides advertising services (primarily the AppNexus business) using data for targeted advertising. AT&T in June 2022 sold Xandr to Microsoft Corp.

    WarnerMedia in September 2021 sold entertainment platform TMZ and its related media properties to Fox Corp.'s Fox Entertainment. Fox-owned TV stations already were carrying TMZ syndicated TV programs. Under terms of the agreement, Fox now owns and operates all TMZ-branded linear, digital and experiential assets. TMZ was founded in 2005.

    AT&T's purchase of WarnerMedia (2018):

    AT&T June 14, 2018, completed its acquisition of Time Warner for total consideration of $79.4 billion (excluding Time Warner's net debt at acquisition). An AT&T filing said the company completed the deal "at 5:57 p.m. Eastern time." When the deal closed, AT&T changed Time Warner's name to "Warner Media, LLC" (branded as WarnerMedia).

    The deal closed following a ruling by a federal judge June 12, 2018, that AT&T could proceed with its takeover of Time Warner after the U.S. Justice Department in November 2017 filed a civil antitrust lawsuit to block the deal. In the lawsuit, the Justice Department said the acquisition "would substantially lessen competition, resulting in higher prices and less innovation for millions of Americans." The U.S. Court of Appeals for the District of Columbia Circuit in February 2019 rejected the Justice Department's antitrust appeal. Following that ruling, the Justice Department said it had no plans to seek further review, meaning it would not attempt an appeal to the Supreme Court.

    AT&T Oct. 22, 2016, announced the deal to buy Time Warner in a stock-and-cash transaction. valued at $85.4 billion ($107.50 a share), or $108.7 billion including Time Warner's net debt.

    Time Warner (historic):

    AT&T June 14, 2018, completed its acquisition of Time Warner, which it renamed "Warner Media, LLC" (branded as WarnerMedia).

    Time Warner was a media company that owned Warner Bros. Entertainment, Turner and Home Box Office.

    Ad Age ranked Time Warner as the nation's largest media company from 1995 through 2008. Time Warner dropped from the top spot after it completed the spinoff of Time Warner Cable in 2009. Comcast Corp. is now the largest U.S. media company.

    In the years before its acquisition by AT&T, Time Warner narrowed its focus by spinning off major units.

    Time Warner spun off as separate public companies Time Inc. in 2014 (acquired by Meredith Corp. in 2018; Meredith's digital and magazine businesses acquired by IAC/InterActiveCorp's Dotdash in 2021); AOL in 2009 (acquired by Verizon Communications in 2015; sold by Verizon in 2020); and Time Warner Cable in 2009 (acquired by Charter Communications in 2016).

    History:

    WarnerMedia and Discovery merged April 8, 2022, creating Warner Bros. Discovery.

    https://wbd.com

Wayfair

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Wayfair is an online marketer of furniture, decor and home goods, offering more than 40 million products from more than 20,000 suppliers across six key online sites and brands: Wayfair, Joss & Main, AllModern, Birch Lane, Perigold and Wayfair Professional.

    Wayfair was founded in 2002 (as Smart Tech Toys) and is based in Boston.

    Business segments and operations:

    Wayfair: The company's flagship mass-market brand. "Everything home-for a space that's all you."

    Joss & Main: "The ultimate style edit for home." Wayfair launched Joss & Main in late 2011.

    AllModern: "All of modern, made simple." Wayfair launched AllModern in 2006.

    Birch Lane: "A fresh take on the classics." Wayfair launched Birch Lane in 2014.

    Perigold: "An undiscovered world of luxury design." Wayfair launched Perigold in 2017.

    Wayfair Professional: "Just right for Pros."

    In late 2011, Wayfair made the strategic decision to close and permanently redirect more than 240 of its niche websites into Wayfair.com to create a one-stop shop for furniture, decor and home goods.

    The company launched the Wayfair brand in September 2011 and began advertising it in September 2013, Niraj Shah, the company's co-chairman, CEO and co-founder said at a June 2016 investor conference.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending shown in the Ad Age Leading National Advertisers report and Marketer Trees database is an Ad Age Datacenter estimate.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Wayfair's stated worldwide "advertising costs," also called "advertising expense."

    Wayfair's stated worldwide advertising costs:

    2022: $1.473 billion.

    Wayfair's 10-K for year ended December 2022 said:

    "Advertising consists of direct response performance marketing costs, such as display advertising, paid search advertising, social media advertising, search engine optimization, comparison shopping engine advertising, television advertising, direct mail, catalog and print advertising."

    The 10-K also said:

    "Much of our advertising technology was internally developed, including campaign management and bidding algorithms for online advertising. This allows us to leverage our internal data and target customers efficiently across various channels. We also partner selectively with marketing partners where we find solutions that meet our marketing objectives and deliver a strong return on investment."

    The 10-K said:

    "We also continued to manage our advertising spend according to a return on investment-oriented approach that carefully tracks and monitors the results of advertising campaigns as we seek to maintain appropriate return targets."

    Wayfair's 10-K for year ended December 2022 discussed ad spending for 2022 vs. 2021:

    "In 2022, our advertising expenses increased by $95 million or 6.9% as compared to the same period in 2021. The increase reflects our response to changing market conditions as we sought to maintain our return targets across various channels. As a percentage of net revenue, advertising expenses increased to 12.1% in 2022 compared to 10.1% in 2021 due in part to changes in advertising channel mix as well as lower direct traffic."

    Wayfair's 10-K for year ended December 2021 discussed ad spending for 2021 vs. 2020:

    "Our advertising expenses decreased by$34 million in 2021 compared to 2020, which reflects our response to changing market conditions as we sought to maintain our efficiency targets across various channels. As a percentage of net revenue, advertising expenses remained relatively constant in 2021 compared to 2020, as we aimed to deploy advertising dollars within our efficiency parameters."

    Wayfair's 10-K for year ended December 2020 discussed ad spending for 2020 vs. 2019:

    "Our advertising expenses increased by $316.3 million in 2020 compared to 2019, primarily as a result of an increase in online advertising. Advertising decreased as a percentage of net revenue in 2020 compared to 2019, primarily attributable to efficiencies in our advertising spend and partially offset by increased investment to generate future customer growth."

    Wayfair's 10-K for year ended December 2019 discussed ad spending for 2019 vs. 2018:

    "Our advertising expenses increased by $321.7 million in 2019 compared to 2018, primarily as a result of an increase in online advertising. Advertising increased as a percentage of net revenue in 2019 compared to 2018. The increase was primarily attributable to increased investment to generate future customer growth, partially offset by ongoing leverage due to our increasing mix of orders from repeat customers."

    Wayfair's 10-K for year ended December 2018 discussed ad spending for 2018 vs. 2017:

    "Our advertising expenses increased by $224.2 million in 2018 compared to 2017, primarily as a result of an increase in online and television advertising. Advertising decreased as a percentage of net revenue in 2018 compared to 2017, primarily due to increased leverage from our growing base of repeat customers, and television advertising expense not increasing at the same rate as revenue growth in the U.S., partially offset by advertising investments in Europe and Canada."

    Wayfair's 10-K for year ended December 2017 discussed ad spending for 2017 vs. 2016:

    "Our advertising expenses increased by $140.8 million in 2017 compared to 2016 , primarily as a result of an increase in online and television advertising. Advertising decreased as a percentage of net revenue in 2017 compared to 2016, primarily due to increased leverage from our growing base of repeat customers, and television advertising expense not increasing at the same rate as revenue growth in the U.S., partially offset by advertising investments in Europe and Canada."

    Wayfair's 10-K for year ended December 2016 discussed ad spending for 2016 vs. 2015:

    "Our advertising expenses increased by $130.9 million in 2016 compared to 2015 , primarily as a result of an increase in online and television advertising. Advertising decreased as a percentage of net revenue in 2016 compared to 2015 , primarily due to increased leverage from our growing base of repeat customers, and television advertising expense not increasing at the same rate as revenue growth in the U.S., partially offset by advertising investments in Europe and Canada."

    Wayfair's 10-K for year ended December 2015 discussed ad spending for 2015 vs. 2014:

    "Our advertising expenses increased by $86.9 million from $191.3 million in 2014 to $278.2 million in 2015, primarily as a result of an increase in television and online advertising."

    Wayfair's 10-K for year ended December 2015 also discussed ad spending for 2014 vs. 2013:

    "Our advertising expenses increased by $82.8 million from $108.5 million in 2013 to $191.3 million in 2014, primarily as a result of an increase in television and online advertising."

    Wayfair's 10-K for year ended December 2014 discussed ad spending for 2013 vs. 2012:

    "Our advertising expenses increased by $43.0 million from $65.5 million in 2012 to $108.5 million in 2013, primarily due to an increase in television and online advertising."

    Marketing strategies:

    Wayfair's 10-K for year ended December 2022 discussed marketing strategies:

    "We use a variety of marketing and advertising efforts to drive customer engagement across all of our channels, strengthen and reinforce brand and product awareness, as well as attract new customers and encourage repeat purchases from existing customers.

    "Our paid advertising efforts consist primarily of online channels, including search engine marketing, display advertising and paid social media, and to a lesser extent direct mail and television advertisements.

    "Our non-paid advertising efforts include search engine optimization, non-paid social media, mobile 'push' notifications and email.

    "Upon acquiring a customer or a potential customer's email address, we seek to increase their engagement with our sites and drive repeat purchases.

    "This effort to increase engagement and repeat purchasing is driven by all of our marketing tools, including personalized email marketing efforts and customer retargeting.

    "We rigorously manage our paid marketing efforts towards the goal that each new spending initiative is cost-effective with a measurable return on investment within a designated period of time."

    Wayfair's August S-1 filing for its October 2014 initial public offering said:

    "We intend to continue investing in our brand awareness strategy and direct online marketing efforts. In late 2011, we made a strategic decision to close and permanently redirect over 240 of our niche websites into Wayfair.com. Since late 2011, we have marketed our brands, in particular Wayfair.com, through TV advertising, display advertising, paid search advertising, social media advertising and direct mail, catalog and print advertising."

    That S-1 filing also said:

    "In connection with our rebranding efforts that began in 2011, we launched a brand marketing campaign focused on TV and online advertising for Wayfair.com. We launched national TV campaigns for Wayfair.com in September 2012 and for Joss & Main in October 2013. ... Our online efforts are focused on building brand awareness to drive visitor traffic via direct navigation, search engine optimization and email marketing campaigns. ... We plan to continue to expand our direct online marketing efforts through paid campaigns including display advertising, search engine marketing, comparison shopping engines, affiliate networks and social advertising."

    Deals and strategic moves:

    Wayfair bought the remainder of the stake of its Australian joint venture in 2011. Wayfair acquired DwellStudio in July 2013, paying $6.4 million in cash, common units (141,150 shares of common stock) and additional consideration for assumed liabilities. Those were the only two acquisitions the company made before its 2014 initial public offering.

    Stock:

    Wayfair staged its initial public offering in October 2014.

    History:

    The company began operating as Smart Tech Toys in May 2002.

    Smart Tech Toys changed its name to CSN Stores Inc. in February 2003.

    In March 2008, CSN Stores Inc. formed, and contributed all of its assets and liabilities, to a subsidiary, CSN Stores LLC.

    CNS Stores Inc. in late 2011 changed its name to SK Retail Inc. and changed its company's name to Wayfair LLC from CSN Stores LLC.

    From 2002 through 2011, the company operated as hundreds of niche websites, such as bedroomfurniture.com and allbarstools.com.

    The company launched AllModern in 2006.

    In late 2011, Wayfair made the strategic decision to close and permanently redirect more than 240 of its niche websites into Wayfair.com to create a one-stop shop for furniture, decor and home goods.

    Wayfair launched Joss & Main after making that decision in late 2011 to close and permanently redirect its niche websites into Wayfair.com.

    Wayfair bought the remainder of the stake of its Australian joint venture in 2011.

    Wayfair bought DwellStudio in July 2013.

    Wayfair launched Birch Lane in 2014.

    Wayfair launched Perigold in 2017.

    In conjunction with its October 2014 initial public offering, Wayfair LLC formed Wayfair Inc. as a holding company for Wayfair LLC.

    https://www.wayfair.com

Yum Brands

  • Marketer profile
    Click here to see company's total worldwide advertising spending, measured-media spending by region, key executives and agencies.

    Overview:

    Yum Brands is the parent of fast-food chains KFC, Pizza Hut and Taco Bell and fast-casual chain The Habit Burger Grill.

    Yum Brands on Oct. 31, 2016, split into two public companies: Yum Brands, focused on franchising its KFC, Pizza Hut and Taco Bell chains around the world; and Yum China Holdings, exclusive franchisee in China of KFC, Pizza Hut and Taco Bell.

    Sales and earnings:

    Sales and earnings figures shown in the Ad Age Leading National Advertisers report's Marketer Trees are corporate, representing results from company-owned restaurants and fees from franchisees.

    Marketing spending:

    U.S. ad spending:

    Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report and Marketer Trees database are Ad Age Datacenter's estimates of U.S. systemwide ad spending for KFC, Pizza Hut and Taco Bell, including ad spending contributions from franchised and company-owned stores.

    Ad Age's U.S. estimated advertising totals shown for Yum Brands are modeled on estimated U.S. systemwide sales (for both corporate and franchise operations) from Technomic, a restaurant market-research firm.

    Worldwide ad spending:

    Total worldwide advertising spending figures shown in the Ad Age World's Largest Advertisers report and related database are Ad Age Datacenter's estimates of worldwide systemwide ad spending for KFC, Pizza Hut and Taco Bell, including ad spending contributions from franchised and company-owned stores.

    Ad Age's worldwide estimated advertising totals shown for Yum Brands are modeled on Yum Brands' disclosed worldwide system sales figures. Figures include sales at Yum China Holdings.

    Yum Brands worldwide ad costs:

    Yum Brands disclosed the following worldwide advertising expenses, including ad spending for company-owned restaurants, contributions to advertising cooperatives for company-owned restaurants and discretionary advertising expenditures on behalf of franchised restaurants:

    2022: $86 million

    2021: $95 million

    2020: $78 million

    2019: $83 million

    2018: $131 million

    2017: $245 million

    2016: $260 million

    2015: $253 million (restated from $255 million; previously restated from $581 million following 2016 spinoff of Yum China Holdings, a reduction of $326 million)

    2014: $261 million (restated from $589 million following 2016 spinoff of Yum China Holdings, a reduction of $328 million)

    2013: $607 million

    2012: $608 million

    These costs reflect worldwide ad spending for company-owned stores, contributions to advertising cooperatives for company-owned stores and advertising expenses incurred on behalf of franchised restaurants by the company.

    The Habit Burger Grill:

    Yum bought Habit Restaurants in March 2020.

    Habit, which operated The Habit Burger Grill, reported the following "advertising and promotions expense":

    2019: $4.7 million (1.0% of restaurant revenue; 1.0% of total revenue [restaurant revenue plus franchise/license revenue])

    2018: $3.6 million (0.9% of restaurant revenue; 0.9% of total revenue )

    2017: $3.2 million (1.0% of restaurant revenue; 1.0% of total revenue)

    2016: $1.8 million (0.6% of restaurant revenue; 0.6% of total revenue)

    Yum China Holdings:

    Yum China Holdings, the China division that Yum Brands spun off Oct. 31, 2016, disclosed the following "direct marketing costs":

    2016: $332 million

    2015: $327 million

    2014:$328 million

    2013: $346 million

    Yum China Holdings said in its 10-K for year ended December 2016:

    "We charge direct marketing costs to expense ratably in relation to revenues over the year in which incurred and, in the case of advertising production costs, in the year the advertisement is first shown. Deferred direct marketing costs, which are classified as prepaid expenses, consist of media and related advertising production costs which will generally be used for the first time in the next fiscal year and have historically not been significant."

    That Yum China Holdings filing also said:

    "Our franchise agreements require our franchisees to fund advertising and marketing expenditures, typically in an amount that is a percentage of sales. Local marketing expenditures are managed by each operator. The company, as an agent, collects and disburses non-local funds on behalf of the entire system. We record cash received and accounts payable from the administration of such non-local funds in our Consolidated and Combined Balance Sheets. Any unused non-local funds are returned to the system."

    Deals and strategic moves:

    Dragontail Systems:

    Yum in September 2021 bought Dragontail Systems, a provider of technology solutions for the food industry, for $66 million, net of cash acquired of $3 million. Dragontail's platform was focused on optimizing and managing the food preparation process from order through delivery.

    TicTuk Technologies:

    Yum in March 2021 bought TicTuk Technologies, an Israel-based omnichannel ordering and marketing platform company. TicTuk specialized in so-called conversational commerce, a technology solution allowing consumers to complete orders and interact with brands through a variety of social media and chat channels including WhatsApp (owned by Facebook), Facebook Messenger, Telegram, SMS, QR codes and email. TicTuk was founded in 2016.

    Kvantum:

    Yum in March 2021 bought the artificial intelligence-based consumer insights and marketing performance analytics business of Texas-based Kvantum. The business was founded in 2012.

    The Habit Burger Grill:

    Yum in March 2020 acquired The Habit Restaurants Inc. total cash consideration of $408 million, net of cash acquired.

    Habit operates The Habit Burger Grill, a fast-casual restaurant chain.

    The Habit Burger Grill became Yum's fourth operating segment, joining KFC, Pizza Hut and Taco Bell.

    Irvine, California-based Habit as of January 2020 had nearly 300 company-owned and franchised restaurants in the U.S. and China. Habit opened its first restaurant in 1969 in Santa Barbara, California, and did its initial public offering in 2014.

    Habit at year-end 2019 had 271 restaurants. That included 241 company-owned restaurants; and 30 licensed or franchised restaurants (23 U.S., seven in China).

    Yum China Holdings:

    Yum Brands on Oct. 31, 2016, split into two public companies: Yum Brands, focused on franchising its KFC, Pizza Hut and Taco Bell chains around the world; and Yum China Holding, exclusive franchisee in mainland China - the People's Republic of China; excludes Hong Kong, Taiwan and Macau--of KFC, Pizza Hut and Taco Bell. Both companies are listed on the New York Stock Exchange.

    Yum Brands in October 2015 announced plans for the split.

    Yum Brands accomplished the split through a spin-off of the China business to Yum Brands' existing shareholders.

    Following its separation from Yum Brands, Yum China Holdings has the exclusive right to operate, sub-franchise and license the KFC, Pizza Hut Casual Dining, Pizza Hut Home Service and Taco Bell brands in China. Yum China Holdings also owns the Little Sheep and East Dawning concepts outright. Little Sheep is a China-based chain of hot-pot restaurants. East Dawning is a Chinese food quick-service restaurant brand with 15 locations as of year-end 2015.

    KFC opened its first restaurant in Beijing, China in 1987. The first Pizza Hut in China opened in 1990. Taco Bell opened its first restaurant in China in 2016.

    Yum Brands in February 2012 increased its stake in Little Sheep Group, a chain in China that operates hundreds of hot-pot restaurants, to 93% from 27%. Yum paid $540 million, net of cash acquired, for that additional 66% stake. Yum had been an investor in Little Sheep since 2009. As part of the acquisition, Yum granted an option to the shareholder that holds the remaining 7% ownership interest in Little Sheep that would require Yum to purchase the remaining shares owned upon exercise of the option any time after the third anniversary of the acquisition.

    Prior to the Yum Brands deal, Little Sheep had done limited global expansion, including the opening of six Little Sheep Hot Pot restaurants in California and Texas as of 2011. Little Sheep had 25 U.S. locations in May 2016; 20 in May 2015; 16 in May 2014; 11 in May 2013; and 10 in June 2012.

    Yum Brands took non-cash impairment charges on Little Sheep of $463 million in 2014 and $295 million in 2013, reducing the carrying value of Little Sheep to reflect weakness in the unit's China operations. Little Sheep became part of Yum China Holdings in the October 2016 corporate split.

    Other deals and strategic moves:

    PepsiCo in October 1997 spun off Tricon Global Restaurants (KFC, Pizza Hut, Taco Bell) to shareholders as an independent public company.

    Tricon Global in May 2002 bought Yorkshire Global Restaurants, parent of Long John Silver's and A&W All-American Food Restaurants. Also in May 2002, Tricon changed its named to Yum Brands (stock ticker symbol: YUM).

    Yum in January 2011 put Long John Silver's and A&W All-American Food Restaurants up for sale so that Yum could focus on its fast-growing international operations and on its main U.S. chains. Yum on Sept. 22, 2011, announced definitive agreements to sell Long John Silver's and A&W to two separate groups led by key franchisees.

    Yum in December 2011 sold Long John Silver's to LJS Partners LLC, "led by a consortium of prominent franchisee leaders and other investors."

    Yum in December 2011 sold A&W to A Great American Brand LLC, "led by a franchisee leader with substantial interests in international A&W restaurants and the National A&W Franchisees Association representing U.S. A&W restaurant operators."

    History:

    KFC opened in 1939 and started franchising in 1952. Pizza Hut launched in 1958; Taco Bell in 1962; and Habit Burger Grill in 1969.

    PepsiCo in October 1997 spun off Tricon Global Restaurants (KFC, Pizza Hut, Taco Bell) to shareholders as an independent public company.

    Tricon Global in May 2002 changed its named to Yum Brands.

    Yum Brands Oct. 31, 2016, split into two public companies: Yum Brands, focused on franchising its KFC, Pizza Hut and Taco Bell chains around the world; and Yum China Holdings, exclusive franchisee in mainland China--the People's Republic of China; excludes Hong Kong, Taiwan and Macau--of KFC, Pizza Hut and Taco Bell.

    https://www.yum.com

Top 10 marketers by country in 2022 (U.S. dollars in millions) in 68 countries and markets. Sources are listed under the country name. Click the plus sign to expand.

Poland [This record free to all users]

  • Measured media spending20222021% chg
    Aflofarm547.3586.9-6.8
    Terg320.3304.95.1
    Schwarz Gruppe (Lidl)280.7311.1-9.8
    Euro-Net Warszawa215.1274.4-21.6
    Naturprodukt184.6184.10.3
    Grupa Allegro157.771.6120.3
    Ferrero145.7196.3-25.8
    Jeronimo Martins144.8126.914.1
    USP Zdrowie140.5148.5-5.4
    Neonet Wrocaw114.7118.3-3.0

    Figures are in millions of U.S. dollars. Data from Kantar Poland.

    http://www.kantar.com

Argentina

  • Measured media spending20222021% chg
    Genomma Lab Internacional469.0263.877.8
    Laboratorio Elea Phoenix362.1236.753.0
    Unilever113.457.995.9
    Laboratorio Bago111.268.263.1
    L'Oreal97.553.881.4
    Danone89.740.9119.2
    Haleon65.638.470.8
    Cencosud63.150.225.5
    Gramon52.240.927.5
    Arcor50.453.4-5.6

    Figures are in millions of U.S. dollars, discounted by AA. Data from Kantar Ibope Media Argentina.

    https://kantaribopemedia.com/argentina

Australia

  • Measured media spending20222021% chg
    Harvey Norman94.296.7-2.6
    Amazon74.767.011.4
    McDonald's Corp.68.969.8-1.3
    Woolworths Group68.172.6-6.1
    Coles Group53.156.2-5.6
    Telstra Corp.47.152.4-10.1
    Stan Entertainment47.144.46.1
    Flutter Entertainment46.445.12.8
    Reckitt46.350.0-7.3
    Casetify45.24.5902.7

    Figures are estimated net spending and are in millions of U.S. dollars. Data from Nielsen.

    https://global.nielsen.com/global/en/solutions/media-planning/ad-intelligence/

Belarus

  • Measured media spending20222021% chg
    Savushkin Product/Santa Bremor4.95.6-12.0
    Sistema (MTS)4.84.73.6
    PepsiCo4.43.718.8
    America Movil4.34.6-5.5
    Patio1.83.0-38.7
    Eurotorg1.61.418.0
    Best1.62.0-18.3
    Coca-Cola Co.1.64.2-62.3
    Brestskiy Myasokombinat1.41.5-5.0
    Lidskoe Pivo1.32.4-47.4

    Figures are in millions of U.S. dollars. Monitoring is provided by: "Real'noe Izmerenie" for TV and "Gevs" for non TV. Data from UM Media.

    https://ummedia.by

Belgium

  • Measured media spending20222021% chg
    Procter & Gamble Co.115.8174.4-33.6
    Mediahuis104.4108.7-4.0
    DPG Media (De Persgroep)91.6118.2-22.5
    Colruyt83.799.7-16.0
    Coca-Cola Co.78.2101.2-22.8
    Proximus57.949.018.1
    Delhaize55.964.8-13.7
    Reckitt51.256.2-8.9
    D'Ieteren Auto50.366.5-24.3
    Stellantis50.347.06.9

    Figures are in millions of U.S. dollars. Data from Nielsen.

    https://global.nielsen.com/global/en/solutions/media-planning/ad-intelligence/

Bosnia and Herzegovina

  • Measured media spending20222021% chg
    Studio Moderna28.731.5-9.0
    Rondo Mondo20.019.80.9
    Vitalis Doctors Group12.013.5-10.8
    Procter & Gamble Co.11.315.6-27.7
    Coca-Cola Co.10.99.614.2
    Ferrero10.314.7-29.7
    Proton System10.19.92.0
    Telekom Srbija (M: TEL)9.98.516.5
    Sumonja D.O.O.9.710.8-10.5
    Maxingvest (Beiersdorf)7.89.6-18.6

    Figures are in millions of U.S. dollars. Includes print only. Data from Audience Measurement Nielsen.

    http://www.audiencemeasurement.ba

Brazil

  • Measured media spending20222021% chg
    123 Viagens E Turismo304.2445.3-31.7
    Genomma Lab Internacional297.1204.245.5
    Unilever211.7195.28.4
    Werthein Group210.4184.314.2
    Bradesco159.1128.024.3
    Banco do Brasil (Gfc)127.1113.711.8
    America Movil122.4122.40.0
    Reckitt108.895.214.3
    Seara97.986.413.3
    Amazon96.7108.7-11.0

    Figures are in millions of U.S. dollars, discounted by AA. Via Varejo represents the merger of Casas Bahia and Ponto Frio. Data from Kantar Ibope Media Brasil.

    https://www.kantaribopemedia.com

Bulgaria

  • Measured media spending20222021% chg
    Schwarz Gruppe (Lidl)95.687.88.9
    Naturpharma73.865.712.2
    Stada68.336.786.2
    Procter & Gamble Co.44.349.2-9.9
    Naturprodukt42.431.335.4
    Ferrero35.749.8-28.3
    Eurofootball34.230.313.0
    Carlsberg Group33.735.1-4.0
    Fortex Nutrasuticals32.725.229.6
    Sandoz30.628.09.2

    Figures are in millions of U.S. dollars. Data from Nielsen Admosphere, part of Nielsen Group.

    http://adintel.nielsen-admosphere.eu

Canada

  • Measured media spending20222021% chg
    Procter & Gamble Co.109.595.514.7
    Bell Canada99.596.53.1
    Quebecor76.550.451.8
    Rogers Communications75.741.582.4
    TD Bank Financial Group72.250.543.0
    Amazon69.469.30.1
    Expedia Group61.654.513.0
    Restaurant Brands International60.262.3-3.5
    Government of Canada57.670.5-18.4
    General Motors Co.53.446.514.7

    Figures are in millions of U.S. dollars. Ranking excludes some government ministries. Data from Numerator.

    https://www.numerator.com/solutions/ad-intel

Chile

  • Measured media spending20222021% chg
    Falabella97.988.410.8
    Cencosud59.066.2-10.8
    Genomma Lab Internacional44.138.215.4
    Ecusa22.421.35.2
    Unilever19.532.0-39.0
    CCU (Compania de las Cervecerias Unidas)19.119.8-3.7
    Ripley15.514.38.2
    Soprole13.310.427.2
    L'Oreal13.216.0-17.5
    SC Johnson12.719.8-36.0

    Figures are in millions of U.S. dollars, discounted by AA. Data from MegaTime Ibope Chile.

    https://www.kantaribopemedia.cl

China

  • Measured media spending20222021% chg
    Guangzhou Pharmaceutical Holdings535.7519.53.1
    Procter & Gamble Co.289.8616.6-53.0
    Kangchao Drug Co.264.4302.1-12.5
    Inner Mongolia Yili Industrial Group Co.244.2227.37.4
    Neimenggu Mengqi Pharmacy Co.218.499.6119.2
    Heilongjiang Beiqishen Pharmacy Co.210.7182.415.5
    Guangdong By-Health Biotechnology Co.194.2137.840.9
    Gansu Xifeng Medicine193.5275.2-29.7
    Mars Inc.189.7290.3-34.7
    Shijiazhuang Junlebao Dairy Industry Co.157.5157.9-0.2

    Figures are in millions of U.S. dollars, discounted by AA. Data from CTR Media Intelligence/Kantar Media.

    http://www.ctrchina.cn

Colombia

  • Measured media spending20222021% chg
    Werthein Group164.42.37179.5
    America Movil163.754.4200.9
    Tecnoquimicas113.924.7361.1
    Genomma Lab Internacional105.724.0341.0
    Quala85.224.8243.9
    Deshoppy75.513.5460.0
    Postobon72.020.6249.7
    Open English68.217.1298.9
    Haleon66.112.7418.9
    Unilever64.613.7371.4

    Figures are in millions of U.S. dollars, discounted by AA. Media companies and the national TV authority are excluded. Data from Kantar Ibope Media Colombia.

    https://www.kantaribopemedia.com.co

Costa Rica

  • Measured media spending20222021% chg
    Genomma Lab Internacional28.435.9-20.7
    Supermercados Unidos8.59.5-10.6
    America Movil7.88.0-2.4
    Liberty Latin America5.12.0153.9
    Ice4.94.021.5
    McDonald's Corp.4.53.529.5
    Procter & Gamble Co.4.24.9-15.2
    Unilever4.19.8-58.2
    Walt Disney Co.4.03.224.0
    Colgate-Palmolive Co.4.05.2-23.2

    Figures are in millions of U.S. dollars. Media companies and government advertising are excluded. Data from Kantar Ibope Media Costa Rica.

    https://www.kantaribopemedia.com

Croatia

  • Measured media spending20222021% chg
    Schwarz Gruppe (Lidl)32.840.1-18.2
    Konzum17.015.96.9
    America Movil15.115.7-3.7
    Deutsche Telekom (T-Mobile US)14.016.4-14.5
    Coca-Cola Co.12.517.0-26.5
    Plodine11.613.4-13.5
    Henkel11.28.728.4
    McDonald's Corp.9.67.428.7
    NorgesGruppen9.111.6-21.9
    Telemach8.711.3-23.2

    Figures are in millions of U.S. dollars. Data from AGB Nielsen Media Research.

    https://www.nielsen.com/eu/en/solutions/capabilities/ad-intel

Cyprus

  • Measured media spending20222021% chg
    Schwarz Gruppe (Lidl)50.143.016.5
    Alphamega Hypermarkets34.530.313.9
    Cyprus Telecommunications Authority16.920.2-16.3
    Papantoniou14.613.39.5
    Opap12.813.7-6.5
    Camelot12.48.350.7
    Epic10.113.6-25.3
    Primetel9.912.3-19.0
    Medi Jeunesse Center9.49.04.2
    Bank of Cyprus9.08.111.3

    Figures are in millions of U.S. dollars and include TV spending only. Excludes government spending. Data from Telia & Pavla BBDO.

    http://www.tpbbdo.com.cy

Czech Republic

  • Measured media spending20222021% chg
    Schwarz Gruppe (Lidl)216.9191.913.1
    Rewe Group102.7102.9-0.2
    Sazka90.179.313.7
    Albert Eska Republika88.884.45.3
    Simply You Pharmaceuticals71.965.110.4
    Alza61.478.0-21.3
    Mountfield61.357.76.3
    HP Tronic Zlin60.560.00.8
    Henkel56.256.20.0
    Maxingvest (Beiersdorf)55.956.7-1.4

    Figures are in millions of U.S. dollars. Schwarz Gruppe includes Kaufland and Lidl. Volkswagen includes Skoda and Porsche. Data from Nielsen Admosphere, part of Nielsen Group.

    http://adintel.nielsen-admosphere.eu

Denmark

  • Measured media spending20222021% chg
    FDB69.949.840.4
    Danske Spil34.531.78.8
    Salling Fonden33.139.2-15.7
    Lars Larsen Group25.924.65.3
    TDC Group24.931.0-19.6
    Currys24.728.6-13.6
    Boozt Fashion23.922.94.5
    Dagrofa21.216.627.8
    Nykredit Holding19.525.0-21.9
    Walt Disney Co.19.313.147.2

    Figures are in millions of U.S. dollars. Data from Kantar Media Denmark.

    https://kantargallup.dk

Ethiopia

  • Largest advertisers
    Government Announcements
    Safaricom
    DSTV
    Ethio telecom
    Vivendi
    Knorr Spice
    Life buoy Soap
    Cooperative Bank of Oromia
    Sunlight Detergent & Soap
    Ethiopian Insurance Cooperation

    Ranking based on TV spending only. Data from Zeleman Communications, Advertising and Production.

    http://www.zeleman.com

Finland

  • Measured media spending20222021% chg
    Nelonen Media9.79.60.6
    Veikkaus7.75.539.4
    Telia6.37.1-10.7
    Elisa6.110.0-38.5
    Haleon6.16.2-1.5
    DNA Finland6.06.1-0.8
    Sanoma Magazines5.67.1-20.9
    Procter & Gamble Co.5.25.7-8.9
    Valio5.15.6-8.9
    Walt Disney Co.5.05.0-0.9

    Figures are in millions of U.S. dollars. Data from TNS Gallup Finland/Kantar.

    http://www.kantar.fi

France

  • Measured media spending20222021% chg
    Stellantis524.0568.6-7.8
    Mousquetaires Groupe397.7419.9-5.3
    Mulliez394.4399.2-1.2
    Schwarz Gruppe (Lidl)389.0418.3-7.0
    E. Leclerc Groupe372.0397.8-6.5
    LVMH Moet Hennessy Louis Vuitton371.8338.69.8
    Renault362.5392.9-7.7
    Procter & Gamble Co.349.9411.2-14.9
    L'Oreal335.5422.2-20.5
    Orange Groupe262.2280.0-6.4

    Figures are in millions of U.S. dollars, discounted by AA. Data from Kantar France.

    https://www.kantar.com/locations/France

Georgia

  • Measured media spending20222021% chg
    Coca-Cola Co.60.840.450.4
    Procter & Gamble Co.59.858.71.8
    PepsiCo23.321.29.9
    Jacobs Douwe Egberts17.217.20.1
    Lactalis14.415.4-6.6
    Archi Group14.313.46.6
    Berlin-Chemie12.512.41.1
    Mondelez International12.39.234.4
    Reckitt10.37.537.2
    Sanofi10.09.64.2

    Figures are in millions of U.S. dollars. Data from TV MR GE, licensee of Nielsen Television Audience Measurement.

    http://www.tvmr.ge

Germany

  • Measured media spending20222021% chg
    Procter & Gamble Co.1,622.92,236.4-27.4
    Intermediaere1,402.31,330.85.4
    Ferrero738.3818.5-9.8
    Schwarz Gruppe (Lidl)632.0740.5-14.7
    Amazon530.6738.4-28.1
    Rewe Group463.4507.8-8.7
    L'Oreal438.7542.0-19.1
    Henkel383.3345.011.1
    Deutsche Telekom (T-Mobile US)370.7459.8-19.4
    Aldi351.0476.5-26.3

    Figures are in millions of U.S. dollars. Data from Nielsen.

    https://global.nielsen.com/global/en/solutions/media-planning/ad-intelligence/

Ghana

  • Measured media spending20222021% chg
    MTN Group4.35.6-23.4
    Samara Co.4.03.033.9
    Vodafone3.95.1-23.0
    Kasapreko Co.3.14.6-33.4
    TCL Electronics2.53.8-34.1
    Nutri-Foods2.52.116.1
    MultiChoice2.13.2-33.7
    Promasidor2.02.7-24.6
    Ecobank Ghana2.02.2-8.4
    Hexagon Industries1.91.713.6

    Figures are in millions of U.S. dollars. Data from Ipsos.

    http://www.ipsos.com

Greece

  • Measured media spending20222021% chg
    Procter & Gamble Co.16.218.9-14.5
    OTE Group11.312.8-11.8
    Nestle10.010.9-8.2
    Opap9.111.2-18.0
    Schwarz Gruppe (Lidl)8.711.4-24.3
    Haleon8.66.827.3
    AB Basil Opoulos8.19.9-18.0
    L'Oreal6.67.9-17.1
    Unilever6.07.9-24.3
    DSQI Kotsovolos5.25.7-9.1

    Figures are in millions of U.S. dollars. Data from Media Services and AGB Nielsen Media Research via BBDO Greece. Data from Media Services; AGB Nielsen Media Research via BBDO Greece.

    http://www.bbdoathens.gr

Guatemala

  • Measured media spending20222021% chg
    Genomma Lab Internacional14.413.83.8
    America Movil6.76.45.3
    PepsiCo4.94.67.2
    Nord Pharma4.54.9-8.0
    Millicom International Cellular (Tigo)4.45.0-10.2
    Good Brands3.83.58.5
    Abbott Laboratories3.43.19.5
    Bayer2.22.13.9
    CCA2.12.6-20.8
    Farmamedica America2.02.4-16.5

    Figures are in millions of U.S. dollars, discounted by AA. Media companies are excluded. Data from MediaGuru / Kantar Ibope Media Guatemala.

    https://www.kantaribopemedia.com

Hungary

  • Measured media spending20222021% chg
    Sanofi484.3469.23.2
    Haleon314.4273.515.0
    Extreme Digital-Emag253.3271.6-6.7
    Ferrero236.5290.1-18.5
    Unilever219.4206.36.3
    Procter & Gamble Co.217.7255.1-14.7
    Telenor / Yettel216.9167.229.7
    Coca-Cola Co.203.6215.0-5.3
    Reckitt188.4179.45.0
    Media Markt Saturn Holding182.4179.51.6

    Figures are in millions of U.S. dollars. Data from Kantar Media Hungary.

    https://www.kantar.com/locations/hungary#_=

India

  • Largest advertisers
    Reckitt
    Unilever (Lever)
    Godrej Consumer Products
    Unilever (Brooke Bond Lipton)
    Mondelez International (Cadbury)
    Coca-Cola Co.
    Unilever (Pond's)
    Procter & Gamble Co.
    ITC
    Colgate-Palmolive Co.

    Ranking based on TV spending. Data from TAM India.

    http://www.tamindia.com

Indonesia

  • Measured media spending20222021% chg
    Unilever1,284.41,067.420.3
    Mayora513.4300.570.8
    Wings Group441.2376.117.3
    Procter & Gamble Co.229.4191.419.8
    Indofood Indonesia227.4203.511.8
    Join Ad206.5136.351.5
    Nestle169.4257.5-34.2
    Aqua Golden Mississippi140.667.0110.0
    Gudang Garam122.2101.120.9
    Go Jek118.181.644.8

    Figures are in millions of U.S. dollars, discounted by AA. Data from Nielsen.

    https://global.nielsen.com/global/en/solutions/media-planning/ad-intelligence

Ireland

  • Measured media spending20222021% chg
    Comcast Corp.19.219.9-3.8
    Diageo17.317.20.3
    Procter & Gamble Co.14.518.1-19.5
    Schwarz Gruppe (Lidl)14.114.2-0.7
    Tesco13.716.0-14.8
    Harvey Norman12.45.6121.7
    Dunnes Stores12.09.723.2
    Aldi11.514.1-18.3
    Supervalu11.011.00.1
    National Lottery10.611.6-8.8

    Figures are estimated net spending and are in millions of U.S. dollars. Data from Nielsen.

    https://global.nielsen.com/global/en/solutions/media-planning/ad-intelligence

Italy

  • Measured media spending20222021% chg
    Ferrero1,704.51,183.944.0
    Procter & Gamble Co.1,482.21,072.938.1
    Barilla730.4721.11.3
    Reckitt649.6370.175.5
    L'Oreal621.9615.51.0
    Stellantis591.3788.3-25.0
    Comcast Corp.563.1616.7-8.7
    Poltronesofa498.4391.727.2
    Evo Sas Dierre Group Cambiago475.5441.57.7
    Wind Tre448.7420.16.8

    Figures are in millions of U.S. dollars, discounted by AA. Excludes RCS Media Data from Nielsen.

    https://global.nielsen.com/global/en/solutions/media-planning/ad-intelligence

Japan

  • Measured media spending20222021% chg
    Rakuten Group2,357.22,638.5-10.7
    Suntory Holdings (Beam Suntory)1,553.51,828.6-15.0
    Recruit Holdings Co.1,087.21,146.5-5.2
    Toyota Motor Corp.1,016.61,030.4-1.3
    Amazon977.8829.917.8
    Kirin Holdings Co.896.01,141.0-21.5
    Aeon Co.792.61,529.6-48.2
    LVMH Moet Hennessy Louis Vuitton693.7589.017.8
    Sony Group Corp.675.2863.2-21.8
    NTT Corp.622.8709.6-12.2

    Figures are in millions of U.S. dollars. Figures include Ad Age DataCenter estimates, data from public documents, Interpublic Group of Cos.' McCann Tokyo & UM Japan, and Nikkei Advertising Research Institute. Data from McCann Tokyo & UM Japan.

    http://www.mccannwg.co.jp

Kazakhstan

  • Measured media spending20222021% chg
    Coca-Cola Co.13.912.114.3
    Procter & Gamble Co.9.86.648.7
    Mars Inc.5.84.820.1
    RG Brands5.65.18.0
    PepsiCo5.24.710.5
    Ferrero5.03.351.4
    Sanofi4.74.45.2
    L'Oreal3.94.6-15.3
    Unilever3.85.1-25.4
    Kaspi Bank3.83.028.2

    Figures are in millions of U.S. dollars. Data from K-Research Central Asia (Kazakhstan)/Kantar.

    https://www.kantar.kz

Kenya

  • Measured media spending20222021% chg
    Safaricom54.251.25.9
    SMS Skiza22.230.9-28.2
    Coca-Cola Co.20.733.0-37.4
    Shabiki.com15.6NANA
    MultiChoice15.312.126.6
    Equity Group Holding15.04.2261.6
    Oxygene12.316.2-23.9
    MwalimuPLUS11.811.43.7
    Pwani Oil11.619.6-40.9
    Reckitt11.215.2-26.0

    Figures are in millions of U.S. dollars. Excludes spending by the Kenyan government. Data from Ipsos.

    http://www.ipsos.com

Latvia

  • Measured media spending20222021% chg
    Schwarz Gruppe (Lidl)19.16.8180.8
    ICA Group (Rimi)17.619.5-10.1
    Maxima12.716.3-22.0
    Tet8.14.965.6
    Samsung Electronics Co.7.58.8-15.4
    Tele25.76.4-10.9
    Lmt5.46.6-17.6
    TV3 Group4.63.917.3
    220.Lv4.34.4-2.3
    Euronics4.14.4-5.3

    Figures are in millions of U.S. dollars. Data from Kantar Latvia.

    http://www.kantar.lv

Lithuania

  • Measured media spending20222021% chg
    Maxima64.866.8-3.0
    Schwarz Gruppe (Lidl)63.172.8-13.3
    Tele251.661.4-15.9
    Telia47.851.5-7.2
    Palink43.541.54.9
    Eurovaistin37.240.3-7.6
    Ferrero22.523.0-1.8
    ICA Group (Rimi)21.727.1-20.0
    Valentis21.326.2-18.8
    Kesko Senukai Lithuania21.125.9-18.4

    Figures are in millions of U.S. dollars. Data from Kantar Lithuania.

    http://www.kantar.lt

Malaysia

  • Measured media spending20222021% chg
    Nestle37.342.3-11.9
    Gerbang Alaf35.228.025.5
    Shopee34.226.728.0
    Ecart Services33.439.0-14.5
    Haleon32.833.9-3.3
    Yum Brands23.418.029.7
    Maxingvest (Beiersdorf)22.518.919.1
    Unilever21.327.4-22.3
    Procter & Gamble Co.20.422.9-10.7
    Reckitt19.818.010.1

    Figures are in millions of U.S. dollars. Figures exclude government advertising. Data from Nielsen.

    https://global.nielsen.com/global/en/solutions/media-planning/ad-intelligence

Mauritius

  • Measured media spending20222021% chg
    Mauritius Telecom (My.T)1.31.5-13.0
    Winner's1.21.025.4
    Courts Mammouth1.21.5-17.0
    Galaxy1.10.752.1
    MCB0.90.721.1
    Samsung Electronics Co.0.80.557.1
    Super U0.80.78.6
    Emtel0.70.9-21.7
    361.mu0.70.627.3
    Yum Brands0.60.610.8

    https://www.dcdmresearch.com

Mexico

  • Largest advertisers
    Genomma Lab Internacional
    Izzi Telecom
    Procter & Gamble Co.
    Grupo Galaxy Mexicana
    Reckitt
    Walt Disney Co.
    Walmart
    Nestle
    OpenEnglish
    Televisa Univision

    Based on data from Nielsen Ibope.

    https://www.nielsenibope.com.mx

Middle East and Pan Regional

Moldova

  • Measured media spending20222021% chg
    Orange9.67.823.3
    Procter & Gamble Co.7.27.02.6
    Zdrovit6.86.38.2
    Schwarz Gruppe (Lidl)5.54.133.4
    Nestle4.99.6-49.1
    Berlin-Chemie4.85.4-11.5
    Moldtelecom4.68.6-45.9
    Reckitt4.33.618.4
    BC Moldova Agroindbank3.52.446.2
    BC Victoriabank3.45.3-34.6

    Figures are in millions of U.S. dollars. Data from AGB Nielsen Media Research via TV MR MLD.

    https://agb.md

Netherlands

  • Measured media spending20222021% chg
    Royal Ahold145.1125.915.3
    Schwarz Gruppe (Lidl)112.196.516.2
    CK Hutchison Holdings106.5122.1-12.8
    Unilever99.5113.3-12.2
    Bol.com87.384.63.1
    Nederlandse Loterij Organisatie85.079.07.5
    Procter & Gamble Co.82.8121.1-31.6
    Deutsche Telekom (T-Mobile US)82.790.7-8.8
    Jumbo Supermarkten79.098.8-20.0
    PepsiCo77.230.5153.4

    Figures are in millions of U.S. dollars, discounted by AA. Excludes government ads. Data from Nielsen.

    https://global.nielsen.com/global/en/solutions/media-planning/ad-intelligence/

New Zealand

  • Measured media spending20222021% chg
    Harvey Norman75.174.11.4
    Foodstuffs57.366.8-14.2
    Restaurant Brands International36.933.111.5
    The Warehouse34.834.51.1
    Woolworths34.035.5-4.3
    Brand Developers33.639.1-14.1
    One Nz (formerly Vodafone)30.028.64.9
    Spark NZ30.034.3-12.5
    Reckitt29.442.7-31.2
    Nestle26.523.512.8

    Figures are in millions of U.S. dollars. Excludes government ads. Data from Nielsen.

    https://global.nielsen.com/global/en/solutions/media-planning/ad-intelligence

Norway

  • Measured media spending20222021% chg
    NorgesGruppen145.9166.4-12.3
    Coop Norge144.4153.6-6.0
    Orkla79.575.94.8
    Rema 100078.884.4-6.7
    Telenor32.134.2-6.1
    Tine31.826.520.3
    Power25.631.8-19.7
    Toyota Motor Corp.24.434.2-28.6
    Harald A Moller23.425.4-7.7
    Telia20.827.2-23.4

    Figures are in millions of U.S. dollars. Data from Nielsen.

    https://global.nielsen.com/global/en/solutions/media-planning/ad-intelligence

Pakistan

  • Measured media spending20222021% chg
    Unilever75.6110.7-31.7
    Procter & Gamble Co.20.635.4-41.9
    Nestle18.533.6-44.8
    Reckitt14.238.9-63.5
    Colgate-Palmolive Co.13.924.1-42.1
    Coca-Cola Co.10.325.5-59.7
    PepsiCo10.123.5-57.2
    Mobilink Pakistan5.810.0-41.8
    Haleon5.325.2-78.9
    Engro Foods5.1NANA

    Figures are in millions of U.S. dollars. For TV spending only. Etisalat includes Pakistan Telecommunication Co. VimpelCom includes Pakistan Mobile Communication (Mobilink). Data from Mediatrack Pakistan.

    https://www.mediatrackpk.com

Paraguay

  • Measured media spending20222021% chg
    Genomma Lab Internacional3.95.1-22.9
    Millicom International Cellular (Tigo)2.83.3-15.1
    Talisman2.82.510.4
    Bristol-Myers Squibb Co.2.72.038.4
    Embotelladora Central2.72.8-5.2
    Unilever2.62.222.3
    Gramon2.21.822.1
    Coca-Cola Co.2.12.10.5
    Andromaco2.02.0-2.4
    Alex1.90.8135.5

    Figures are in millions of U.S. dollars, discounted by AA. Government spending is excluded. Data from Kantar Ibope Media Paraguay.

    https://www.kantaribopemedia.com

Peru

  • Measured media spending20222021% chg
    Genomma Lab Internacional22.622.60.1
    Global14.414.6-1.0
    Procter & Gamble Co.14.320.6-30.7
    Alicorp14.013.91.2
    America Movil8.211.6-29.7
    Ajeper (AJE)7.715.8-51.5
    Abbott Laboratories7.113.9-48.6
    Entel PCS Telecomunicaciones6.310.7-41.4
    Unilever6.28.4-26.4
    Good Brands Eirl5.96.5-9.2

    Figures are in millions of U.S. dollars, discounted by AA. Figures exclude media. Data from Kantar Ibope Media Peru.

    https://www.kantaribopemedia.com

Philippines

  • Measured media spending20222021% chg
    Procter & Gamble Co.303.2285.06.4
    Unilever272.1314.3-13.4
    Acs Manufacturing Corp.178.2186.0-4.2
    Nestle155.5245.7-36.7
    Unilab151.6167.4-9.4
    Pfizer66.973.5-8.9
    Universal Robina Corp.43.243.7-1.0
    Monde Nissin Corp.41.627.054.0
    Media Quest Holdings36.649.5-25.9
    Colgate-Palmolive Co.36.532.911.1

    Figures are in millions of U.S. dollars, discounted by AA. Excludes media companies. Data from Nielsen.

    https://global.nielsen.com/global/en/solutions/media-planning/ad-intelligence/

Portugal

  • Measured media spending20222021% chg
    Modelo Continente Hipermercados67.671.5-5.4
    Nos Comunicacoes66.258.513.1
    Altice Portugal60.536.565.8
    Unilever56.657.1-0.8
    Schwarz Gruppe (Lidl)47.439.719.4
    L'Oreal46.646.50.2
    McDonald's Corp.45.332.240.5
    Vodafone41.039.92.8
    Worten-Sonae40.837.19.9
    Ediclube-Edicao e Promocao do Livro39.754.6-27.2

    Figures are in millions of U.S. dollars, discounted by AA. Data from MediaMonitor, part of Kantar Network.

    http://www.mediamonitor.pt

Puerto Rico

  • Measured media spending20222021% chg
    TJX Cos.0.0NANA
    Banco Popular0.0NANA
    Liberty Communications0.0NANA
    McDonald's Corp.0.0NANA
    Deutsche Telekom (T-Mobile US)0.0NANA
    Skechers0.0NANA
    L'Oreal0.0NANA
    America Movil0.0NANA
    Motorambar,Inc.0.0NANA
    Walgreens0.0NANA

    Figures are in millions of U.S. dollars. Government and media company spending is excluded. Data from Nielsen.

    https://global.nielsen.com/global/en/solutions/media-planning/ad-intelligence/

Romania

  • Measured media spending20222021% chg
    Zdrovit79.287.9-9.9
    Haleon41.538.67.4
    Naturpharma40.838.85.3
    Schwarz Gruppe (Lidl)38.235.67.5
    Reckitt33.532.82.2
    Co & Co Consumer 200230.825.620.0
    Ferrero30.634.7-11.9
    Catena Management27.226.81.4
    Biofarm25.124.90.8
    Procter & Gamble Co.21.131.5-32.9

    Figures are in millions of U.S. dollars, discounted by AA. Data from Media Trust Romania.

    http://www.mediatrust.ro/

Rwanda

  • Largest advertisers
    Bpr Bank
    Impact Fric
    Bralirwa
    Ejo Heza Rssb
    Cogebanque
    Ultimate Developpers
    Ncba Bank
    Mtn Rwanda
    Airtel Rwanda
    Rwanda Biomedical Centre

    https://www.ag-partners.com

Serbia

  • Measured media spending20222021% chg
    Schwarz Gruppe (Lidl)70.867.64.7
    Delhaize Group67.169.4-3.3
    Telekom Srbija61.257.07.2
    Procter & Gamble Co.57.859.8-3.3
    Proton System50.858.0-12.4
    America Movil47.153.4-11.8
    Coca-Cola Co.45.555.7-18.3
    Yettel43.330.342.9
    Vitalis Medicinski Centar35.530.914.8
    Vodavoda33.7NANA

    Figures are in millions of U.S. dollars. Data from Nielsen.

    https://www.nielsentam.tv

Singapore

  • Measured media spending20222021% chg
    Co-Share62.144.340.2
    Smrt Corp.52.940.530.5
    NTUC21.217.719.4
    Yum Brands17.512.243.1
    Amazon13.21.01284.0
    Pertama Merchandising12.414.7-15.9
    Haleon10.710.07.4
    Kirin Holdings Co.10.05.775.6
    Gain City9.711.0-12.3
    Mitsubishi Electric Co.8.06.229.1

    Figures are in millions of U.S. dollars. Excludes government ads and media, primarily Singapore Press Holdings (SPH). Data from Nielsen.

    https://global.nielsen.com/global/en/solutions/media-planning/ad-intelligence/

Slovak Republic

  • Measured media spending20222021% chg
    Schwarz Gruppe (Lidl)277.5299.5-7.3
    Tipos87.992.1-4.6
    Coop Jednota Slovensko79.880.8-1.3
    Orange77.476.61.1
    Deutsche Telekom (T-Mobile US)76.484.2-9.3
    Rewe Group69.169.3-0.2
    Alza61.170.2-12.9
    O260.061.0-1.7
    Slovenska Sporitelna59.967.5-11.3
    Simply You59.351.814.3

    Figures are in millions of U.S. dollars. Data from Kantar Slovak Republic.

    https://www.kantar.com/locations/Slovakia

Slovenia

  • Measured media spending20222021% chg
    Mercator77.675.72.6
    NorgesGruppen68.568.20.4
    Schwarz Gruppe (Lidl)60.053.611.8
    Ferrero43.948.3-9.1
    Telekom Slovenije41.336.613.1
    Henkel39.428.936.2
    Hofer Trgovina35.039.8-12.1
    A1 Slovenija31.621.447.7
    Telemach26.431.6-16.5
    Volkswagen24.429.9-18.2

    Figures are in millions of U.S. dollars. Telekom Austria includes Si.mobil. Data from Mediana.

    http://www.mediana.si

South Africa

  • Measured media spending20222021% chg
    Multichoice829.3930.7-10.9
    E.tv316.0433.7-27.1
    Unilever125.2138.1-9.3
    Shoprite Holdings104.5103.90.6
    Clientele103.576.635.2
    SABC81.0123.3-34.3
    Outsurance Insurance77.786.3-10.0
    Telesure Investment Holdings60.060.5-0.9
    Haleon53.990.3-40.3
    Famous Brands51.846.411.7

    Figures are in millions of U.S. dollars. Excludes national government spending. Data from Nielsen.

    https://global.nielsen.com/global/en/solutions/media-planning/ad-intelligence/

South Korea

  • Measured media spending20222021% chg
    Samsung Electronics Co.673.8705.9-4.5
    Infobell672.8763.1-11.8
    Inko Medianet517.6482.47.3
    Hanshopping333.4390.4-14.6
    J Commerce304.4169.080.2
    LG Electronics297.1409.2-27.4
    Hyundai Motor Co.279.5294.3-5.0
    Gu Homeshopping192.1257.0-25.3
    Ad Cross189.3118.360.1
    Coca-Cola Co.185.3177.84.2

    Figures are in millions of U.S. dollars. Data from Nielsen via GroupM.

    https://www.nielsen.com/kr/ko

Spain

  • Measured media spending20222021% chg
    L'Oreal63.673.4-13.3
    Stellantis56.560.7-6.8
    Orange55.159.9-7.9
    Volkswagen53.964.5-16.5
    Telefonica51.354.7-6.1
    Procter & Gamble Co.50.467.0-24.8
    Linea Directa Aseguradora45.753.7-14.9
    O.N.C.E.43.944.5-1.3
    El Corte Ingles40.950.7-19.4
    Vodafone36.755.6-34.0

    Figures are in millions of U.S. dollars, discounted by AA. Data from InfoAdex, part of Kantar Network.

    http://www.infoadex.es

Sri Lanka

  • Measured media spending20222021% chg
    Unilever125.8106.018.7
    Nestle33.540.6-17.5
    Hemas Marketing24.729.0-14.8
    Axiata Group23.835.3-32.4
    SLTMobitel23.031.9-27.9
    Ceylon Biscuits16.525.6-35.3
    Haleon11.116.6-33.4
    Reckitt10.119.7-48.6
    Sampath Bank8.8NANA
    People's Bank8.19.2-11.0

    Figures are in millions of U.S. dollars. Excludes political advertising. Data from Nielsen via GroupM.

    https://www.nielsen.com/lk/en

Sweden

  • Measured media spending20222021% chg
    ICA Group (Rimi)90.4102.2-11.5
    Mio54.463.6-14.4
    Currys50.147.45.6
    Kooperativa Forbundet49.149.3-0.4
    Procter & Gamble Co.47.171.7-34.4
    Maxhamburgerkedja46.145.12.2
    Bauhaus Byggvaruhus44.343.32.3
    Telia44.241.56.4
    Hallon44.048.3-8.8
    McDonald's Corp.43.954.8-19.9

    Figures are in millions of U.S. dollars. Data from TNS Sifo/Kantar Sweden.

    https://www.kantarsifo.se

Taiwan

  • Measured media spending20222021% chg
    Suntory Holdings (Beam Suntory)34.833.63.5
    Procter & Gamble Co.28.228.4-0.8
    Standard Foods19.816.024.0
    Haleon19.118.62.6
    Panasonic Corp.16.011.341.4
    Pfizer14.012.214.6
    McDonald's Corp.13.69.839.5
    Chuanda International11.68.438.9
    Uni-President Enterprises Corp.11.413.1-12.8
    Hawley & Hazel Chemical10.94.1163.6

    Figures are in millions of U.S. dollars. Excludes media companies. Data from Nielsen.

    https://www.nielsen.com/eu/en/solutions/capabilities/ad-intel

Tanzania

  • Measured media spending20222021% chg
    Bakhresa Group of Cos.10.65.2103.7
    Vodafone5.35.4-1.9
    Millicom International Cellular (Tigo)4.47.3-39.8
    Bharti Airtel3.82.550.4
    Multichoice3.72.266.3
    National Bank of Commerce3.70.6499.7
    Star Media2.71.942.2
    Diageo2.52.115.4
    National Microfinance Bank2.41.930.0
    PepsiCo2.02.1-5.8

    Figures are in millions of U.S. dollars. Excludes government advertising. Data from Ipsos.

    http://www.ipsos.com

Thailand

  • Measured media spending20222021% chg
    Unilever107.4143.4-25.1
    Procter & Gamble Co.69.770.7-1.4
    Nestle68.394.0-27.4
    Mass Marketing Co.63.562.12.3
    Mono Shopping Co.46.659.4-21.6
    GMM CJ O Shopping Co.42.440.15.7
    Suntory Holdings (Beam Suntory)41.143.6-5.8
    Coca-Cola Co.40.446.3-12.8
    Reckitt39.048.3-19.2
    Isuzu Motors38.026.543.7

    Figures are in millions of U.S. dollars. Data from Nielsen.

    https://global.nielsen.com/global/en/solutions/media-planning/ad-intelligence/

U.K.

  • Measured media spending20222021% chg
    DMG Media502.1145.2245.8
    Comcast Corp.451.0387.516.4
    Amazon450.6412.89.2
    Alphabet (Google)280.6275.91.7
    Procter & Gamble Co.277.8268.13.6
    EE259.7106.2144.4
    McDonald's Corp.232.2179.229.5
    Tesco229.8233.6-1.6
    L'Oreal214.9204.25.2
    Unilever190.0183.83.4

    Figures are in millions of U.S. dollars. Excludes government spending. Data from Nielsen.

    https://global.nielsen.com/global/en/solutions/media-planning/ad-intelligence/

U.S.

Uganda

  • Measured media spending20222021% chg
    MTN Group14.211.720.9
    Bharti Airtel11.79.917.9
    Diageo11.06.861.3
    Coca-Cola Co.7.86.128.2
    PepsiCo4.22.664.4
    Anheuser-Busch InBev3.81.7128.0
    Stanbic Bank3.82.364.9
    Multichoice3.64.3-15.6
    Next Media Services3.21.0228.4
    Star DTV Uganda3.14.0-22.4

    Figures are in millions of U.S. dollars. Excludes government advertising. Data from Ipsos.

    http://www.ipsos.com

Uruguay

  • Measured media spending20222021% chg
    Unilever14.810.738.6
    L'Oreal7.38.6-15.7
    Genomma Lab Internacional4.910.2-52.0
    Unicef3.82.933.8
    Antel3.81.3191.9
    Verde3.7NANA
    Coca-Cola Co.2.52.217.1
    Mercado Libre2.51.479.7
    Banca de Quinielas2.52.310.0
    SC Johnson2.52.7-10.5

    Figures are in millions of U.S. dollars, discounted by AA. Excludes government and media advertising. Data from Kantar Ibope Media Uruguay.

    https://www.kantaribopemedia.com

Vietnam

  • Measured media spending20222021% chg
    Unilever162.1125.828.8
    Suntory Holdings (Beam Suntory)51.536.939.5
    Procter & Gamble Co.47.839.520.9
    Abbott Laboratories38.128.235.2
    Vinamilk Corp.22.532.6-30.9
    Masan Food Corp.21.132.6-35.4
    Nhat Nhat Traditional Medicine20.420.21.0
    Tan Hiep Phat Beverage Group16.623.5-29.2
    Nestle15.521.6-28.1
    Haleon13.115.0-12.6

    Figures are in millions of U.S. dollars. Discounted by Ad Age. Data from Kantar Vietnam.

    http://www.kantar.com

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