Carnival

Marketing spend by year

Bars: advertising and marketing expense, $B (10-K). Line: spend as a share of revenue. Years where the filing's revenue line isn't comparable are left out of the line.

What they told investors

“We have been putting marketing dollars and shifting marketing dollars, to really lean into Celebration Key, and I think that's why it's one of the most sought-after destinations even though it doesn't doesn't take people yet.”management · 2025 Q2 · transcript

“We're spending much more on a per-unit basis than we did back, you know, five, six years ago and still a good amount less than many others in the vacation and leisure space.”Josh Weinstein · 2025 Q1 · transcript

“Our elevated marketing investment has been working as we continue to drive demand well in excess of our capacity growth with year-to-date web visits up over 40% versus 2019; paid search, up more than 60%; and natural search up over 70%.”Josh Weinstein · 2024 Q3 · transcript

What the 10-K says about marketing

• measurement “fferentiation and clarity around its unique value proposition, executing on a range of carefully targeted, results-driven marketing and advertising programs to reach its optimal market segment of new and loyal guests and travel agent partners. Among these programs are…” 10-K, Jan 27, 2026

Say vs do

Thin/down. In 10 statements from its leaders in interviews, 1 argued for investing in brand and 0 for cutting; the filed spend went down.

In the news

• Princess Cruises, Channel 9 set sail with 'Chefs Ahoy' culinary showdown series Mi-3.com.au. · Sep 25, 2026 · sponsorship

Peers