Beyoncé $50 Million Deal: Singer Lands Pepsi Deal Ahead Of 2013 Superbowl Halftime Show
Beyonce might be laughing at Wendy Williams' recent unflattering remark all the way to the bank, thanks to her latest business deal.
The singer, 31, recently struck a $50 million deal with beverage brand Pepsi ahead of her 2013 Superbowl XLVII halftime performance in February. The Houston native has worked with Pepsi since 2002, but this agreement has taken their partnership to a new level.
The deal involves commercials, print ads, a limited-edition soda can with her image on it, and sponsorship of her world tour next year, according to The New York Times.
"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 deal also includes what Pepsi called a "creative content development fund," which sponsors any other event Beyonce chooses to be involved in that doesn't necessarily have a direct connection to Pepsi. This may include live events, videos, and "a cool photo shoot," said Lee Anne Callahan-Longo, the general manager of Beyoncé's company, Parkwood Entertainment.
"It's wise for a brand like Pepsi to give an artist the ability to truly express herself," said Ms. Callahan-Longo, adding "instead of just the old-school way of, 'Do you want to be in an advertisement?' "
"This is much bigger," she added. "This is, 'How can we create something together that is truly unique?' "
A rep for Pepsi explained further the marketing strategy that targets consumers and why they chose the superstar for the brand.
"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."
We recognize that there have been massive disruptions in music industry: lower investment in artist development, fewer points of distribution, financial constraints," said Frank Cooper, a top marketing executive in PepsiCo's beverage division. "We look at those disruptions as opportunities for Pepsi."
The limited edition Pepsi can featuring Beyoncé's likeness will arrive in Europe first in March 2013. Pepsi has signed on other mega-successful recording artist at the height of their fame in the past, including Michael Jackson, Britney Spears, Christian Aguilera, Gwen Stefani, Mariah Carey and most recently Nicki Minaj, ahead of her "American Idol" judge gig.
The "Love On Top" singer is slated to release new music before the Super Bowl halftime show at the Mercedes-Benz Superdome in New Orleans on Feb. 3, 2013. On Feb. 16, HBO will air a documentary she directed and executive-produced that highlights moments from her professional and personal life.
