S&P 500 5,412.30 +0.62% NASDAQ 17,188.04 −0.31% EUR/USD 1.0942 GBP/USD 1.2781 Hot right now: Airbnb cut marketing by $446M and grew anyway
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−26% spend
ROI MastermindMarketing

Airbnb cut marketing spend by $446M and came out bigger

By 2021 revenue was 25% above 2019 on a marketing budget still 27% below it. The filings show what that spending was really buying.

Read the breakdown See the sources
Million MistakeStartups

Blue Apron spent $154.5M on marketing and revenue fell anyway

−48% in 2 years
Under the HoodTech & Science

Dropbox moved off the public cloud and doubled its gross margin

32.5% → 66.6%
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of them primary filings

Deep Dive Spotlight

Hand-picked this week
33.7% → 19.8% ROI MastermindMarketing Airbnb cut marketing spend by $446M and came out bigger Marketing as a share of revenue, 2019 against 2021. Every 2021 dollar carried 14 cents less marketing cost. +40% / −11% Million MistakeGiants Peloton raised marketing spend 40% in the year revenue fell Marketing up $289M, revenue down $440M, in the same twelve months.

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Pick a budget, up to three channels and a strategy. We match it against every real case we have published and show the range they actually landed in — with an honest confidence label when the data is thin.

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This week's movers

Gainer
+326%

Zoom revenue, fiscal year to January 2021

 Loser
−$2.83B

Peloton net loss, fiscal year to June 2022

Also published

Everything else in the archive
$154.5MBlue Apron spent $154.5M on marketing and revenue fell anyway 66.6%Dropbox moved off the public cloud and doubled its gross margin +326%Zoom's revenue rose 326% while marketing spend only doubled −$446MAirbnb cut marketing spend by $446M and came out bigger

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