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P&G Slashes Global Adspend, Agencies Wince

Trend Summary: Procter & Gamble, one of the globe's biggest marketing spenders, plans to slash its ad agency budgets.

Today's Wall Street Journal reports that FMCG titan Procter & Gamble will drastically reduce the amount it spends via its worldwide roster of advertising agencies, budgeting to spend roughly $1.5bn on agency-related marketing costs in 2017, down from ...

... $2bn in the previous year.

Despite delivering better than expected earnings for its fiscal third quarter, the Cincinatti headquartered titan has been making deep cost cuts across its organisation in a bid to boost growth and transform the sprawling titan into a leaner company.

Among those cost cuts, P&G has been reducing its spending on “non-working” marketing costs such as production expenses and agency fees, while reinvesting those savings in advertising and consumer product sampling programs.

Among P&G's biggest spending brands are Crest (measured spend $274m), Olay $216m), DayQuil/NyQuil ($158m), Cover Girl ($155m), Gillette ($155m), Tide ($142m), Febreze ($116m), Pampers ($104m) and Swiffer ($1

Read the original unabridged article.

[Estimated timeframe:Q2 2016]

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