Samsung has become the most world’s biggest spender on advertising.
For the first time, the South Korean consumer electronics company beat out packaged goods company Procter & Gamble in terms of the advertising dollars it’s spending, reported Tech Crunch. According to new data from AdAge, the company spent $11.2 billion for advertising and sales promotion last year, compared to P&G, which spent an estimated $10.5 billion.
Samsung, which has a $300 billion market cap, may have spent so heavily in part to counter bad press, including around its Samsung Galaxy Note 7 phone, which had the unfortunate capability of spontaneously bursting into flames.
Fighting Apple for constant mindshare isn’t cheap, either. For example, you may have noticed the flurry of anti-iPhone X ads that the company churned out ahead of the release of its Galaxy Note 9 unveiling — an effort to boost its bottom line after sales of its Galaxy S9 phone disappointed.
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Samsung isn’t the only tech brand that’s pumping up the volume when it comes to ad spending. Amid the companies accelerating their ad budgets the most quickly are China’s biggest online retailer, Alibaba Group Holding, which reportedly more than doubled its 2017 advertising spending to $2.7 billion in 2017.
Others in the tech world to dominate AdAge’s tally include Alphabet, Netflix and Amazon, which reportedly boosted their 2017 spending by 32 percent, 29 percent and 26 percent respectively.
Altogether, says AdAge, the US is home to 44 of the companies spending the most of marketing, followed by 13 companies in Japan, 10 companies in Germany and nine companies in France.