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Procter & Gamble Plans To Cut Advertising Costs By Consolidating Agencies

April 23, 2015: 12:00 AM EST
Procter & Gamble Co. plans to consolidate its advertising agencies in one or two years, according to the company's global brand officer Marc Pritchard. Announced by CFO Jon Moeller during the company's earnings conference call, the plan would be implemented through negotiations with agency executives. Pritchard said he expects P&G to save up to $500 million per year in agency fees and production costs. In 2009, P&G spent about $1 billion on agency fees and contracted 2,500 marketing-services agencies. P&G's sales grew by around $10 billion, with its advertising budget also expanding by around $2 billion.
Jack Neff, "How P&G's Marc Pritchard Plans to Consolidate Agencies", Advertising Age, April 23, 2015, © Crain Communications
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