$50 million dollars? Are you freaking serious? Wow.
As far as endorsement deals go, Beyonce just landed one of the biggest of all time. Pepsi has agreed to pay Beyonce $50 million for her partnership with them. They not only want Beyonce to film commercials, but they have agreed to fund the singer’s creative projects.
FOR its campaign with Beyoncé next year, Pepsi doesn’t just want to sign up the telegenic pop star for another TV commercial. It also wants to get into the Beyoncé business. In an expansion of the recent marketing experiments that have brought PepsiCo ever closer to the music industry, the company has embarked on a hybridproject with Beyoncé that will include standard advertising like commercials as well as a multimillion-dollar fund to support the singer’s chosen creative projects.
“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 a blitz of promotion for her next album, which has no title or release date so far but is expected in 2013. Sometime after she performs at the Super Bowl halftime show on Feb. 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.
The less conventional aspects of the deal are meant as collaborative projects that indulge Beyoncé’s creative whims, and might well have no explicit connection to Pepsi products. They are still at the brainstorm stage, but could include live events, videos, “a cool photo shoot” or almost anything else, said Lee Anne Callahan-Longo, the general manager of Parkwood Entertainment, Beyoncé’s company.
Do you think Beyonce’s worth all that?