Beyonce And Pepsi Reach $50 Million Business Agreement
By Mack Rawden 2 years ago
Pepsi has long joined itself to Beyonce’s shimmying hip. Over the last decade, the pop star has appeared in four commercials for the soft drink. Now, thanks to an inventive, outside the box agreement, the company and the megastar will continue moving in unison on a larger collection of projects for years to come.
According to The New York Times, Pepsi and Beyonce have agreed on a $50 million partnership that will essentially see the beverage become the singer’s official patron. In exchange for appearing in her fifth commercial for the company and having her face on a limited edition print of cans, Pepsi will set up a fund to sponsor some of her more outside the box future endeavors potentially including photo shoots, videos, live events and anything else she might get excited about doing.
With its sponsorship of X Factor and its funding of Green Label Sound, PepsiCo has worked hard to try and align itself with the music industry over the past few years. Album sales might be way down from where they were a decade and a half ago, but just as many people are still listening to music. That has created a unique opportunity for larger companies to fill the void by way of advertising.
We likely won’t know exactly what Beyonce will do with her new resources for months or maybe even a year. Luckily, when she does get excited about pursuing some strange side project, Pepsi will be there to provide support and monetary backing.