Paddy Power Betfair "has significantly boosted marketing spend" after creating one of the biggest gambling companies following the merger of the two brands this year, according to Shona Ghosh of CAMPAIGN LIVE. In its half-year results to the end of June, published on Wednesday, the company revealed it had upped marketing spend by 31%, or £37M ($49M). CEO Breon Corcoran revealed a marketing budget of £300M ($397M) for '16 and said the combined "firepower" would allow the company to "focus on key ad slots and sponsorships." Paddy Power Betfair is "now the second largest advertiser on Sky Sports after Unilever," and has bought the priciest ad package on BT Sport, according to Corcoran. On the premium sponsorships front, the Betfair brand is also a sponsor of Barcelona as of July. The company's marketing budget "has been freed up, Corcoran said, by each brand sharing their skills and media assets." Corcoran emphasized that Paddy Power and Betfair "would remain distinct brands" in the U.K., though internationally, Betfair will take the lead (CAMPAIGN LIVE, 8/24).
