Norwegian Cruise Line advertising spend, FY2025

Norwegian Cruise Line (NCLH) reported $622M of advertising expense for the fiscal year ended Dec 31, 2025. That is 6.3% of revenue of $9.8B. Up 21.1% from FY2024.

Ad spend, FY2025
$622M
year ended Dec 31, 2025
Change vs prior year
+21.1%
vs FY2024
Share of revenue
6.3%
of $9.8B revenue
Rank by ad spend
#109
of 336 companies

Key facts

  • Ad spend is 2.7x its FY2015 level ($232M), faster than revenue (2.3x).
  • FY2025 is the highest year on file, going back to FY2011.
  • Largest increase +92.4% in FY2022; largest cut -46.0% in FY2020.
  • Ad spend has risen 2 years in a row.
  • Ad spend is 6.3% of revenue, down from 16.9% in FY2020.
  • Norwegian Cruise Line spends more on advertising than 68% of the 336 US-listed companies tracked. Its ad-to-revenue ratio is 1.2x the median of 5.2%.

Ad spend by fiscal year

$0 $200M $400M $600M $800M FY2011 (ended 2011-12-31): $79.9M 2011 FY2012 (ended 2012-12-31): $83.7M FY2013 (ended 2013-12-31): $89M 2013 FY2014 (ended 2014-12-31): $123M FY2015 (ended 2015-12-31): $232M 2015 FY2016 (ended 2016-12-31): $271M FY2017 (ended 2017-12-31): $289M 2017 FY2018 (ended 2018-12-31): $327M FY2019 (ended 2019-12-31): $401M 2019 FY2020 (ended 2020-12-31): $217M FY2021 (ended 2021-12-31): $300M 2021 FY2022 (ended 2022-12-31): $578M FY2023 (ended 2023-12-31): $513M 2023 FY2024 (ended 2024-12-31): $514M FY2025 (ended 2025-12-31): $622M 2025 $622M

Ad spend as % of revenue

0% 20% 40% 60% FY2011 (ended 2011-12-31): 3.6% 2011 FY2012 (ended 2012-12-31): 3.7% FY2013 (ended 2013-12-31): 3.5% 2013 FY2014 (ended 2014-12-31): 3.9% FY2015 (ended 2015-12-31): 5.3% 2015 FY2016 (ended 2016-12-31): 5.5% FY2017 (ended 2017-12-31): 5.4% 2017 FY2018 (ended 2018-12-31): 5.4% FY2019 (ended 2019-12-31): 6.2% 2019 FY2020 (ended 2020-12-31): 16.9% FY2021 (ended 2021-12-31): 46.3% 2021 FY2022 (ended 2022-12-31): 11.9% FY2023 (ended 2023-12-31): 6.0% 2023 FY2024 (ended 2024-12-31): 5.4% FY2025 (ended 2025-12-31): 6.3% 2025 6.3%

History

Download CSV
Fiscal year Period end Ad spend YoY Revenue Ad / revenue Tag Filing
FY2025 Dec 31, 2025 $622M +21.1% $9.8B 6.3% AdvertisingExpense 10-K Mar 2, 2026
FY2024 Dec 31, 2024 $514M +0.2% $9.5B 5.4% AdvertisingExpense 10-K Mar 2, 2026
FY2023 Dec 31, 2023 $513M -11.3% $8.5B 6.0% AdvertisingExpense 10-K Mar 2, 2026
FY2022 Dec 31, 2022 $578M +92.4% $4.8B 11.9% AdvertisingExpense 10-K Feb 27, 2025
FY2021 Dec 31, 2021 $300M +38.7% $648M 46.3% AdvertisingExpense 10-K Feb 28, 2024
FY2020 Dec 31, 2020 $217M -46.0% $1.3B 16.9% AdvertisingExpense 10-K Feb 28, 2023
FY2019 Dec 31, 2019 $401M +22.4% $6.5B 6.2% AdvertisingExpense 10-K Mar 1, 2022
FY2018 Dec 31, 2018 $327M +13.2% $6.1B 5.4% AdvertisingExpense 10-K Feb 26, 2021
FY2017 Dec 31, 2017 $289M +6.9% $5.4B 5.4% AdvertisingExpense 10-K Feb 27, 2020
FY2016 Dec 31, 2016 $271M +16.5% $4.9B 5.5% AdvertisingExpense 10-K Feb 27, 2019
FY2015 Dec 31, 2015 $232M +89.6% $4.3B 5.3% AdvertisingExpense 10-K Feb 27, 2018
FY2014 Dec 31, 2014 $123M +37.6% $3.1B 3.9% AdvertisingExpense 10-K Feb 27, 2017
FY2013 Dec 31, 2013 $89M +6.3% $2.6B 3.5% AdvertisingExpense 10-K Feb 29, 2016
FY2012 Dec 31, 2012 $83.7M +4.8% $2.3B 3.7% AdvertisingExpense 10-K Feb 27, 2015
FY2011 Dec 31, 2011 $79.9M n/a $2.2B 3.6% AdvertisingExpense 10-K Feb 21, 2014

What the figure is

Advertising costs as disclosed in the annual report (XBRL tag AdvertisingExpense).

Compared with similar spenders

The 6 companies closest to Norwegian Cruise Line in latest-year ad spend.

Rank Company Ad spend Ad / revenue YoY Fiscal year
106 Ralph Lauren $635M 7.8% +22.9% FY2026
107 SharkNinja $633M 9.9% +8.1% FY2025
108 Keurig Dr Pepper $629M 3.8% -4.3% FY2025
109 Norwegian Cruise Line $622M 6.3% +21.1% FY2025
110 lululemon $618M 5.6% +14.0% FY2026
111 Hershey $612M 5.2% +2.0% FY2025
112 Intel $610M 1.2% -28.7% FY2025

Full ranking of 336 companies · Biggest increases #71

Questions

How much does Norwegian Cruise Line spend on advertising?

Norwegian Cruise Line spent $622M on advertising in fiscal 2025, the year ended Dec 31, 2025, according to its 10-K filed Mar 2, 2026.

What percentage of revenue does Norwegian Cruise Line spend on advertising?

6.3% of revenue in fiscal 2025 ($622M of $9.8B). The median across the 336 companies tracked is 5.2%.

Is Norwegian Cruise Line spending more on advertising?

Yes. Ad spend rose 21.1% in fiscal 2025 from fiscal 2024. It has risen 2 years in a row.

How does Norwegian Cruise Line rank by advertising spend?

#109 of 336 US-listed companies with $100M or more in ad spend, ranked on each company's latest fiscal year.

What does Norwegian Cruise Line's advertising figure include?

Advertising costs as disclosed in the annual report (XBRL tag AdvertisingExpense).

Source

Filing
10-K for FY2025, filed Mar 2, 2026
Accession number
0001104659-26-022067
Company
Norwegian Cruise Line Holdings Ltd., CIK 1513761, SIC 4400 (Water Transportation)
Data
SEC EDGAR XBRL company facts, retrieved Nov 4, 2026. Methodology.
Cite
Norwegian Cruise Line advertising spend, FY2011-FY2025. Aleksei Trudov, io.trudov.com, from SEC EDGAR XBRL company facts (latest: 10-K filed Mar 2, 2026), retrieved Nov 4, 2026. https://io.trudov.com/company/norwegian-cruise-line-holdings/advertising-spend/
Download
CSV, all years · CSV, all 336 companies