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Pepsi inks landmark deal with Beyoncé
December 10th, 2012
PURCHASE, N.Y. – PepsiCo has entered wide-ranging global partnership singing superstar and model Beyoncé that the beverage giant said marks a new way that it teams with musical artists.
Under the deal, Beyoncé will have her image on Pepsi can slated to debut in 2013.
Under the deal announced Monday, and estimated by published reports to be about $50 million, Beyoncé will serve as a partner and brand ambassador for Pepsi. The company noted that it has had a relationship with Beyoncé for more than a decade; she first was a Pepsi spokeswoman in 2002.
The agreement also includes Beyoncé having her image on a Pepsi can or bottle and collaborating with the company on the design of all materials related to the partnership. The limited-edition Pepsi can is due to first be seen in Europe next March. She also will star in a new "Live for Now" global television commercial slated for release early next year.
Plans call for Beyoncé to also appear in print and out-of-home advertisements for Pepsi as well as be visible in retail stores and on-premise through materials such as shelf promotions, in-store displays and in-store advertising.
PepsiCo said another key component of the deal is the establishment of the Creative Development Fund, a resource dedicated to the co-creation of innovative and relevant consumer content.
"The Beyoncé partnership is the lead example of how Pepsi is pioneering a new way for brands to engage with musical artists, moving from sponsor to partner. This creates a creative and commercial collaboration that serves both artist and brand," PepsiCo stated. "Beyond the partnership with Beyoncé, we are using our global scale and scope to create a platform to support multiple country-specific Pepsi musical artists."
The company added that its music program can excite its current fans and attract new consumers to Pepsi.
"Our retail partners love music partnerships and are ready to embrace this relationship," PepsiCo said, "because Pepsi has a proven record of promotions that drive store traffic and sales."
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