Pop superstar Beyonce Knowles has just signed a lucrative $50 million with drinks brand Pepsi, as she is set to become the official face of the brand.
With a highly successful music career already under her belt, as well as several acting appearances, 31 year-old Beyonce seems set on world domination, expanding on her current estimated $320 million fortune.
Upon signing the $50 million deal, Beyonce will not only be appearing in advertising campaigns for Pepsi, she will also for the first time in the drinks brand’s history have her face featured on both Pepsi cans and bottles. The limited edition cans and bottles are scheduled to be released in stores worldwide in March.
Beyonce’s promotional work for Pepsi will commence in February, when she is set to perform at the famous half-time show of the 2013 Superbowl. As the brand’s ambassador, will star in a big budget TV commercial set for release early next year, and Pepsi have been confirmed as sponsors of her tour next year.
Speaking of signing a deal with Pepsi, Beyonce made the following announcement to her fans: “Pepsi embraces creativity and understands that artists evolve. As a businesswoman, this allows me to work with a lifestyle brand with no compromise and without sacrificing my creativity.”
As well as adorning magazine campaigns and billboard posters for Pepsi, Beyonce’s new deal will also see Pepsi investing million of dollars into other projects related to her, which have no connection to promoting the soft drink. These collaborative projects are likely to include: live music events, videos and photo shoots.
Pepsi chiefs have admitted that when signing the deal with Beyonce they envisioned themselves as sponsors of her as an artist as opposed to her being just a celebrity who is endorsing their product. Brad Jakeman, president of Pepsi’s global beverage group explained: “Consumers are seeking a much greater authenticity in marketing from brands they love. It’s caused a shift in the way we think about deals with artists, from a transactional deal to mutually beneficial collaboration.’
It is expected that Beyonce’s new multi-million dollar deal with Pepsi, will intensify the rivalry between them and Coca Cola. Both drinks brands have been working hard to increase their market share, spending over $100 million in marketing in the US alone last year.