Coca-Cola is preparing to significantly increase the amount it spends on online and interactive advertising next year.
The soft drinks brand, which spends an estimated $900 million (£628 million) worldwide on advertising, said as much as 5% of its budget could be spent on marketing through the internet in 2001.
Speaking at a conference organised by the International Olympic Committee in Switzerland, Coca-Cola chief marketing officer Stephen Jones said the company was committed to investing more in online. He added that it would be prepared to spend up to 5% of its overall marketing budget promoting its association with specific events such as the Olympic Games online. In the UK this would equate to at least £1.5 million.
Specialist new media agencies said the trend would be reflected across other blue chip advertisers
Paul Longhurst, managing director of Quantum New Media Services, said that clients were starting to make new media a higher priority: “Clients are starting to actually make plans as far as the level of their spending goes, whereas this time last year it would probably be a case of waiting and seeing.”