Pepsi signs Beyonce to $50 million celebrity endorsement contract
Pepsi is signing up for the Beyonce business with a $50 million multi-year campaign, for beyond just one commercial.
The NY Times reported more of the details on Monday between the pop star and the soda maker.
“Pepsi embraces creativity and understands that artists evolve,” Beyoncé said in a statement. “As a businesswoman, this allows me to work with a lifestyle brand with no compromise and without sacrificing my creativity.”
The campaign will coincide with the promotion for her next album, which has no title or release date so far but is expected in 2013.
After she performs at the Super Bowl halftime show on February 3 (also sponsored by Pepsi), Beyoncé will appear in a new TV ad — her fifth for the soft drink since 2002 — and her face will be on a limited-edition line of soda cans.
“Consumers are seeking a much greater authenticity in marketing from the brands they love,” said Brad Jakeman, president of PepsiCo’s global beverage group. “It’s caused a shift in the way we think about deals with artists, from a transactional deal to a mutually beneficial collaboration.”
This multi-year deal is estimated at $50 million, the bulk of it for media placements and promotions around the world, and the remainder split roughly equally between Beyoncé’s fee and what Pepsi calls a creative content development fund.