Coca-Cola boosts 2022 global adspend by $4.7 billion
Coca-Cola Co. boosted worldwide ad spending by 12.2% in the first nine months of 2022 as against 2021, according to figures in a quarterly regulatory filing. The advertising spend is in line with a 12.6% increase in the beverage giant’s revenue.
Adspend in the first three quarters suggests the beverage marketer’s full-year 2022 spending should come in at roughly $4.6 billion to $4.7 billion, according to Ad Age Datacenter’s calculations. Coca-Cola is on track to top the record $4.2 billion it spent in 2019.
Coca-Cola’s ad spending has rebounded from a sharp drop in 2020 during the first year of the COVID-19 pandemic. Ad spending as a percent of revenue remains a bit below the 11.4% level back in full-year 2019.
According to Ad Age Datacentre analysis, Coca-Cola Co. worldwide’s first nine months ad spending revenue as percent of revenue are as follows : 2019 -$3,319, $28,198 – 11.8%; 2020 – 2,142, 24,403 – 8.8%; 2021 – 3,208 29,191 – 11.0% and 2022 3,599, 32,879 – 10.9%.
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