Beer Getting Less Bang for Media Buck

In a fascinating study of beverage alcohol media spending by UBS analyst Kaumil Gajrawala, we find a disconcerting disconnect between total media spending levels and market share growth. Proving that it's not always how much you spend but how well you spend it, Kaumil finds that beer industry media spending totaled $2.3 billion in 2005, more than double the amount spent by the spirits and wine industries. But despite higher spending growth by the beer industry, beer has lost share