SpendscapeCompanies · CPG
PepsiCo
AdvertiserPEP
PepsiCo spent $3.40B on advertising and marketing in fiscal 2025, down 12.8% on the year before and +13% since 2019. That's 3.6% of revenue, less than in 2019: the business outgrew its marketing.
$3.40Bmarketing spend, FY2025
-12.8%vs the year before
3.6%of revenue (-0.8 pts vs 2019)
Receipts say brand/spend downsay 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
“This is a huge idea for us to bring new consumers into the brand and also to develop frequency and some new occasions.”Ramon Laguarta · 2026 Q1 · transcript
What the 10-K says about marketing
- investing in brand “In addition, we license the use of our trademarks on merchandise that is sold at retail, which enhances brand awareness.” 10-K, Feb 3, 2026
- investing in brand “We continued to expand our away-from-home business into new occasions. The successful Walking Taco platform is thriving in stadiums, arenas, and parks across the United States, while our “Food Deserves Pepsi” campaign and the “Pepsi Zero Sugar Taste Challenge” have driven higher…” 10-K, Feb 3, 2026
Say vs do
Receipts say brand/spend down. In 401 statements from its leaders in interviews, 19 argued for investing in brand and 0 for cutting; the filed spend went down.
In the news
- PepsiCo’s Mirinda brings 'Smile Delivery Service' to Uganda Bizcommunity · Sep 28, 2026 · campaign
- Turkey of the week: Pepsi ad is a lesson in value of diversity Campaign UK · Sep 25, 2026 · campaign
- The brands you know and the company behind them: Inside PepsiCo’s first-ever corporate brand campaign PepsiCo · Sep 17, 2026 · campaign
Agency moves
- Publicis’ PepsiCo win shows the agency market is splitting in two Sep 25, 2026 · won: Publicis Groupe