Procter & Gamble and AT&T were among the big-name advertisers that cut their ad budgets in the third quarter of 2014. Kantar reports that P&G reduced spending 16.1%, and AT&T cut its ad budget 11.3%. Advertising from the top 10 companies was down 1.7% through September. A year ago, ad spending was up slightly.
The automotive category experienced the biggest decline, down 4%, coming mostly from dealer groups. Kantar also says the top 100 advertisers, which make up nearly half of the total spent on advertising, increased 1.3% through September.