• Ad Age, Wednesday, June 7, 2006 11:46 AM

Procter & Gamble has cut the amount of money it intends to spend in the upfront market, Ad Age reports, as the packaged goods behemoth makes good on a promise to trim expenses wherever it can. This is the second year in a row that the company has sliced back its upfront commitments--a move attributed in part to its $57 billion acquisition of Gillette that closed in October, Ad Age says. P&G's upfront budget is down around 10 percent, and it is only one of a number of marketers reportedly spending less this year. There are also reports of softness in spending from movie studios, telcos, domestic autos, and pharmaceuticals--although in the case of the latter, "one agency executive suggested pharma could be holding money out for the scatter market."

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