LoginDid drug companies spend $10 billion on consumer advertising in 2024, making up nearly 25% of evening ad minutes?
Wisconsin Watch partners withΒ GigafactΒ to produce fact briefs β bite-sized fact checks of trending claims. Read our methodology to learn how we check claims.
Yes.
Pharmaceutical companies spent over $10.1 billion on drug advertising in 2024 with the top 10 drugs accounting for a third of spending. Over $5 billion of the spending was on TV ads, with the other half spent on radio, print, streaming and online ads.Β Β
The advertising for these pharmaceutical companies made up 24.4% of evening ad minutes on news programs through ABC, CBS, CNN, Fox News, MSNBC and NBC between Jan. 1 and May 31 of this year.Β
Drug company AbbVie spent the most, totaling over $1 billion on ads for Skyrizi and Rinvoq, which are used to treat inflammatory conditions. AbbVie increased spending on advertisements for Skyrizi by 150%.
Between 2023 and 2024, consumer advertising of the weight management drug Wegovy increased 330%. During that period, usage among teens increased 50%.
The U.S. is one of only two countries that allow direct pharmaceutical advertising.
This fact brief is responsive to conversations such as this one.
Sources
- MediaRadar: Leading Prescription Brands by Media Spend
- Wisconsin Watch: Email from John Cassillo, head of analytics and trend reporting for Fabric Media
- Wall Street Journal: Senators Propose Ban on Drug Advertising to Consumers
- Fierce Pharma: The top 10 pharma drug ad spenders of 2024
- University of Michigan: Michigan Medicine: Young people are increasingly using Wegovy and Ozempic
- NBC News: Wegovy use among U.S. teens up 50% as obesity crisis worsens
Did drug companies spend $10 billion on consumer advertising in 2024, making up nearly 25% of evening ad minutes? is a post from Wisconsin Watch, a non-profit investigative news site covering Wisconsin since 2009. Please consider making a contribution to support our journalism.
