SpendscapeCompanies · CPG
General Mills
AdvertiserGIS
General Mills spent $874M on advertising and marketing in fiscal 2026, up 3.1% on the year before and +45% since 2019. That's 4.7% of revenue, more than in 2019: leaning in.
$874Mmarketing spend, FY2026
+3.1%vs the year before
4.7%of revenue (+1.2 pts vs 2019)
Walk the talksay vs do
Marketing spend by year
Bars: advertising and marketing expense, $B (10-K). Line: spend as a share of revenue.
What they told investors
“But what I'm most excited about when it comes to media is just how we're modernizing our approach to marketing and communications.”management · 2027 Q1 · transcript
“So while media spend is up modestly, I think what is -- what I'm more encouraged by is just the work that we've done in order to show up to consumers in a more relevant way in culture.”Dana McNabb · 2027 Q1 · transcript
“our marketing is taking place at the lower end of the funnel, closer to the point of purchase, that is going to be our focus.”Jeffrey Harmening · 2026 Q3 · transcript
“we are getting back to the levels of activity—whether it is on the marketing side and innovation and media spending, or whether it is our price competitiveness—that we saw before.”Jeffrey Harmening · 2026 Q3 · transcript
“The reason for the pricing is to make sure that the other elements of your marketing mix work as well as you want.”management · 2026 Q2 · transcript
What the 10-K says about marketing
- investing in brand “We believe our brand-building approach is the key to winning and sustaining leading share” 10-K, Jul 1, 2026
Say vs do
Walk the talk. In 223 statements from its leaders in interviews, 23 argued for investing in brand and 0 for cutting; the filed spend went up.
In the news
- Exclusive: General Mills names consumer PR agency PR Week UK · Sep 23, 2026 · agency move
Agency moves
- Exclusive: General Mills names consumer PR agency Sep 23, 2026