Amazon Tops List with Estimated $20.6 Billion Advertising Spend

The Business Model Analyst has released its list of top companies by annual advertising spend, and Amazon takes the lead at an estimated $20.6 billion in global spending for 2025.

This puts it ahead of Procter & Gamble's $11.5 billion and L'Oréal's $11.0 billion in advertising budgets.

The rankings are based on annual estimates, which can be tricky to compare due to differences in how each company defines its advertising spend.

For example, Alphabet's budget is estimated at $20 billion to $24 billion, but it includes a wide range of products and services beyond just search ads.