In the US, top advertisers ignited growth in the nation’s media during 2003 as advertising grew by 9% to reach $90.31 billion, according to Advertising Age’s 49th annual 100 Leading National Advertisers’ report.
Leading the US in total advertising was the world’s largest vehicle manufacturer, General Motors, who spent $3.43 billion, down 1.4% from 2002. Personal care and pharmaceutical giant, Procter and Gamble was close behind in second place, spending $3.32 billion, up 24.3% from last year.
The four top sectors driving advertising spending growth in 2003 was led by Automobiles at £13.78 billion but in contrast this sector experienced a modest growth of only 5.4%. Followed by pharmaceuticals, claiming $12.13 billion in total advertising was up 14.3%, entertainment & media grew by 11.1% to $10.9 billion, personal care increased by 9% to $8.09 billion and telecommunications saw advertising spending grow by 15.3% during 2003 to hit $7.6 billion.
The report says that these powerhouse marketers increased their advertising rate faster than their growth in sales, confirming that when times get tough, the tough step up their marketing.
Global advertising to sales ratio growth was recorded by 54 companies in the Top 100 that reported advertising costs. The ratio rose to 3.8% from 3.7% in 2002, as sales grew on average at 6.2% and advertising at 8.4%.
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