Priceline Group spent $2.8 billion on online advertising (but it's worried about ROI)
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Booking.com/Agoda/et al’s umbrella company disclosed it had spent $2.8 billion on online advertising over the course of the 12 months ending December 31 2015.
The figure of $2.8 billion was joined by a more modest $215 million used to push the brands on offline channels, such as television and outdoor.
The online ad spend is a jump upwards from $2.4 billion in 2014, although the cost of its offline activity has decreased from $230 million.
Other sales and marketing services cost the company $353 million, up from $310 million in 2014.
Chief financial officer Daniel Finnegan says there has been “some pressure” over the course of the last three years around the metrics and ROI, but that the company is “well positioned” to take advantage of its expertise in keyword bidding and use of its digital marketing technology.
Expedia Inc‘s full-year 2015 earnings report disclosed similar, eye-watering levels of media spend.
Not content with a hefty $2.8 billion outlay of its own across the portfolio of brands in 2014, Expedia Inc says it spent $3.3 billion during 2015 – an increase of 23% y/y.