A few months after surpassing Pepsi as the second most popular soft drink in the US, Dr Pepper is also leading in TV ad spending, according to MediaRadar. In the first four months of 2024, Dr Pepper allocated 92% of its ad budget to TV, while Pepsi and Coca-Cola spent 72% and 52%, respectively. Combined, the three brands invested nearly $400 million in TV ads since January 2023.
Despite Dr Pepper’s dominance in TV ad spending percentage, Coca-Cola spent the most on TV ads, with $41 million in the first four months of 2024. Dr Pepper followed with $29 million, and Pepsi with $17 million. Coca-Cola and Pepsi are reducing their TV ad budgets year over year, with decreases of 46% and 54%, respectively, while Dr Pepper’s spending remains stable.
Dr Pepper’s memorable ad campaigns, like the “Fansville” campaign with NIL college athlete partnerships, have contributed to its strong TV presence. Coca-Cola is focusing on the Olympics, recently launching a new Olympic ad campaign. Pepsi, despite ending its Super Bowl halftime show partnership, has been active in sports marketing with its “Get Wild” campaign during the Super Bowl and Wild Card Weekend.
The shift in TV ad spending reflects each brand’s strategy and marketing priorities. Dr Pepper’s consistent investment in TV ads highlights its commitment to maintaining visibility and engagement, while Coca-Cola and Pepsi adjust their approaches in response to changing market dynamics and advertising effectiveness.
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