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Liquor Giants Pour Money Into Social Media

U.K.-based Diageo PLC (DGE.LN) and France's Pernod Ricard SA (RI.FR), the world's No. 1 and 2 spirits companies by revenue, respectively, are diverting more advertising spend away from traditional formats like television. Thirst for whisky, rum and vodka in Latin America, Africa and Asia has accelerated as adult populations have expanded and incomes have risen, and companies see the improved online access in developing markets through laptops, tablet computers and smartphones as an opportunity to drive sales.

Read the whole story at Wall Street Journal »

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