Award-winning singer Beyonce and PespiCo (NYSE:PEP) have inked a massive, multi-year deal.
The headline number of $50 million actually focuses on the whole campaign — part will go toward the singer’s fee, certainly, but it also will go to pay for media placement and toward the creation of a fund that will pay for the singer’s new creative efforts. While neither party would commit to any specifics, ideas on the table include live events, videos and photo shoots, The New York Times reports.
Pepsi signed the deal because it views the deal as collaborative; the company hopes to redefine the firm’s role away from just hiring stars to endorse its products and more as a patron of the arts. By doing so, the company hopes to become a partner with the artists.
The deal is part of an ongoing relationship that Beyonce has with Pepsi. She’ll appear in next year’s Super Bowl halftime show, which also is sponsored by Pepsi. Following that, she’ll be part of a new TV ad for the soft drink, then release her next album.
Beyonce also will see her face on a limited-edition can of Pepsi.
