Coca-Cola boosts 2022 global Adspend by $4.7bn

Coca-Cola Co. boosted worldwide ad spending by 12.2 per cent 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 per cent 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 per cent level back in full-year 2019.

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According to Ad Age Datacentre analysis, Coca-Cola Co. worldwide’s first nine months ad spending revenue as per cent of revenue are as follows : 2019 -$3,319, $28,198 – 11.8 per cent; 2020 – 2,142, 24,403 – 8.8 per cent; 2021 – 3,208 29,191 – 11.0 per cent and 2022 3,599, 32,879 – 10.9 per cent.