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Tuesday, 11 December 2012
Beyonce signs £30m deal to become face of Pepsi
She is already one of the most recognisable faces in show business with a fortune of £200m.
But fans of Beyonce are likely to see much more of her after she signed a £30m deal to become the face of Pepsi.
Not only will she appears in adverts for the soft drink, but in a first for the company, her face will be featured on cans and bottles of the drink.
While other well known figures, such as David Beckham and Jennifer Lopez, have been used in TV and magazine campaigns it is the first time that a celebrity’s face will adorn the drink.
The limited edition cans will be released in March and sold worldwide, including the UK.
The promotion will be kick started by Beyonce’s appearance in February during the half time show at the Super Bowl, the world’s most watched sports event with worldwide audience of over 500 million viewers.
Another part of the deal will see Pepsi investing millions in other projects favoured by the singer that have no connection to promoting the soft drink.
Announcing the deal, Beyonce said: ‘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.’
Pepsi will sponsor the singer’s concert next year and as a brand ambassador she will star in a TV advert to be release in early 2013.
A crucial part of the deal will see Pepsi investing millions in other projects that Beyonce wants to support.
Lee Anne Callahan-Longo, general manager of Beyonci’s Parkwood Entertainment, said those collaborative projects could include live events, videos or “a cool photo shoot,” but are still at the early stages of development.
Pepsi chiefs said they want to be seen as sponsors of artists rather than just paying a celebrity for their endorsement.
‘Consumers are seeking a much greater authenticity in marketing from brands they love,’ said Brad Jakeman, president of Pepsi’s global beverage group.
‘It’s caused a shift in the way we think about deals with artists, from a transactional deal to mutually beneficial collaboration.’
Beyonce,31, is recognised as a powerhouse across music, video and film. She has won 16 Grammy awards and sold more than 100 million records to become one of the biggest stars in the world.
With her husband, music producer and rap star Jay-Z, they are the highest earning couple in show business with a joint annual income of over £50m.
The couple had their first child, Blue Ivy, last January.
Beyonce’s partnership with Pepsi will only serve to intensify the rivalry with Coca Cola as they attempt to increase their market share.
The two companies each spent close to £100m on advertising in the US markets in 2012 with competition for young consumers greater than ever.