New York—The largest advertisers in the U.S. increased their ad spending by 2.8% in 2012, to an estimated $104.5 billion, according to a report from Advertising Age.
According to the annual “100 Leading National Advertisers” report by Ad Age, a sibling publication of BtoB, this is the lowest growth rate since the ad recovery began in 2010. Contributing factors included a shift to digital marketing, a trimming of nonmedia portions of ad budgets and holding the line on ad spending, Ad Age said.
Some verticals, however, have shown stronger ad growth, according to the report. Technology companies, driven by competition in consumer electronics, experienced 2012 ad expenditure growth of 13.6%, and automotive advertising jumped 12.9%. However, the pharmaceuticals industry cut overall ad spending by 9.3% in 2012 as some significant patent protections expired.