They spend nearly $9 billion a year in advertising.
Over 77 years ago they helped coin the term "soap opera" by sponsoring and producing some of most popular soap operas such as The Guiding Light.
"The digital media has pretty much exploded," P&G marketing chief Marc Pritchard said in an interview. "It's become very integrated with how we operate, it's become part of the way we do marketing."
And as such they will now focus their attention and advertising monies on the exploding digital and social media arenas, and move away from traditional television advertising. They will still buy individual TV spots but will no longer allocate the same monies toward that particular medium.
Their target audience, women, have changed their viewing habits, have moved into the workplace and of course now spend more time on social media sites and viewing media online or via their mobile phone.
This should not come as a complete surprise however.
For several months they have hawked Pampers via Facebook, Always feminine products via an iPhone app, and of course were behind turning an outdated, out-of-touch brand, Old Spice, into a pop culture icon, all mainly on the back of social media.
"It's kind of the oldest form of marketing - word of mouth - with the newest form of technology," Pritchard said.
How true Marc, how very true.