Earned & PaidJohnson & Johnson
Johnson & Johnson spent $1.60B on advertising and marketing in fiscal 2025, up 166.7% on the year before and -27% since 2019. That's 1.7% of revenue, less than in 2019: the business outgrew its marketing.
Marketing spend by year
Bars: advertising and marketing expense, $B (10-K). Line: spend as a share of revenue. Years where the filing's revenue line isn't comparable are left out of the line.
Say vs do
We found no statement about the size of Johnson & Johnson's marketing budget on its earnings calls or in its 10-Ks, so here is its record against its peers.
What they said
No statement about the size of its marketing budget.
What they did
| Year | Marketing spend | Change | Share of revenue |
|---|---|---|---|
| FY2025 | $1.60B | +166.7% | 1.7% |
| FY2024 | $600M | +20.0% | 0.7% |
| FY2023 | $500M | -58.3% | 0.6% |
| FY2022 | $1.20B | -42.9% | 1.5% |
| FY2021 | $2.10B | -4.5% | 2.5% |
| FY2019 | $2.20B | -15.4% | 2.7% |
Against its peers. Compared with the 3 other Pharma advertisers we track (Pfizer, AbbVie, Eli Lilly): since 2019 its marketing spend went -27% (peer median +91%); its share of revenue moved -1.0 pts (median -0.5); last year +166.7% (median 0.0%).
How we check: a statement gets a verdict only when it's clearly about the size of the whole company's marketing budget over a full fiscal year; we compare it with the advertising and marketing expense in that year's 10-K. Statements about one quarter, one brand or channel, or the mix between brand and performance can't be checked against annual filings.