Coca Cola spends more than 20% of its media budget on social media

"It’s not just that you can’t control it—when you try, it backfires. You have to understand consumers: They would like to be heard. It’s a question of cocreating content. Five years ago social media was 3% of our total media spend. Today it’s more than 20% and growing fast."
Source:  Coca Cola CEO Muhtar Kent, reported by Harvard Business Review, October 2011