Airbnb cut its performance marketing by $540.5m last year and is shifting its strategy to be PR- and brand-focused, according to the latest company reports.
The online travel platform cut its brand and performance marketing spend by $661.8m in 2020 as a result of the coronavirus outbreak, with the majority of this (82%) coming from performance budgets.
Brand marketing was also cut last year – by $121.2m – but this was less than the 2019 rise (+$159.7m), meaning brand spend in 2020 was still higher than in 2018. Performance marketing budgets fell below their 2018 level, however.
The company...