Beyoncé Signs $50 Million Pepsi Deal
As if Beyoncé isn't receiving enough recognition as one of popular culture's most prominent icons, Pepsi has signed the diva as their global brand ambassador. As brands continue to partner with music artists in pioneering new ways of engagement with their audiences, this latest case study shows this relationship to be more significant than ever. Pepsi has signed Beyoncé on a $50 million deal which is allocated under the “creative development fund," aiming to invest in a list of creative marketing strategies that will involved the artist's image in a number of campaigns. In addition to performing at the next Super Bowl half-time show, which is sponsored by Pepsi, she will also star in the next “Live for Now” advertisement that's due to go live in alignment with Beyoncé's forthcoming album release.
The relationship between Pepsi and Beyoncé has been an ongoing narrative as she has already appeared in four advertisements and been a global spokesman for the brand since 2002. According to Britvic soft drinks report, Pepsi was worth £328.m in the 12 months to December 24, 2011, while Coca-Cola sold £1.15bn in the UK. It'll be interesting to see if this seemingly timeless pop icon will boost Pepsi's chances in this ongoing rat race.