Even with cuts, P&G remains the world's top advertiser

CINCINNATI -- Despite an ongoing review of advertising and marketing costs, Procter & Gamble remains the world's largest advertiser.

The Cincinnati-based consumer products giant spent $8.3 billion last year on advertising. P&G's advertising has cut its advertising costs by $1.4 billion in the last two years since 2013 when the costs peaked at $9.7 billion. Meanwhile, chief financial officer Jon Moeller said last month P&G was trying to cut another $200 million in marketing costs this fiscal year and added there was "room to improve" begins its next fiscal year on July 1 with $1.5 billion marketing agency costs.

But after two years of cutting, P&G executives have disclosed advertising expenditures are increasing about 1% even as the company continues cutting marketing costs. Just this spring alone, P&G has launched campaigns supporting everything from its Tide and Downy laundry products to fight athletic wear odor to sponsoring the Summer Olympics.

But does anyone else in the world come close to the size of P&G's advertising budget?

Not really.

The advertising outlay by the maker of Tide detergent, Pampers diapers and Gillette razors was well ahead of ad-spenders No. 2 and No. 3, Detroit automakers General Motors and Ford, that respectively spent $5.1 billion and $4.3 billion in their latest fiscal years, according to Bloomberg News.

P&G spent more than twice what No. 4 and 5 do, soft-drink titan Coca-Cola and digital retailer Amazon, that respectively spent $4 billion and $3.8 billion.

American companies dominate among the 23 corporations that spend more than $1 billion every year on advertising.

Japan's car manufacturer Nissan and retailer and mall operator Aeon are the world's No. 9 and No. 18 advertisers with respective $3.1 billion and $1.8 billion spends.

And elsewhere in the world?

P&G spends more than 10 times than Europe's largest advertiser: Milan, Italy-based Luxottica, which owns Mason-based LensCrafters and spent $672 million in advertising. Australia's largest advertiser is financial operator Australia and New Zealand Banking Group, which spent $215 million.

Great Britain's Michael Kors Holdings (named after the American designer) spent $104 million in advertising. Canada's Blackberry, formerly Research in Motion, spent $79 million.