Of wearable fitness device makers, Fitbit spent the most on advertising its devices last year, investing $21.6 million, according to a recent report from Kantar Media.
Garmin and Samsung were both not far behind Fitbit in advertising spend. Garmin spent $18.7 million and Samsung spent $11.6 million. After the top three spenders there’s a significant drop in amount spent: Nike spent $3.2 million, Google spent $3.1 million, Jaybird spent $1.8 million, and Timex spent $1.7 million.
Fitbit is the only company in the top five that is private, although earlier this month, Fitbit took its first official steps toward an IPO.
Other companies on the list each spent less than $1 million on advertising fitness wearables in 2014. These companies, in descending order of spend, include Microsoft, LG, Qualcomm, Misfit, Withings, Jawbone, Adidas, Spire, and OM.
Kantar pointed out that because three companies, Fitbit, Garmin, and Samsung, make up 75 percent of the ad spending, the market is fairly concentrated.
“Google devoted 1.5 percent of [its] ad budget to its Android Wear Smartwatch, Samsung 1.7 percent to its Galaxy Gear smartwatches, and Nike 3.1 percent to its Nike+ FuelBand,” Kantar Media wrote. “For other brands for which wearable fitness devices make up the majority of their business, the shares were higher: Garmin spent 64 percent of its ad budget on wearable fitness advertising (more than it spent on its navigational equipment), and Fitbit 72 percent.” Keep reading>>