The rich get richer, and Beyonce keeps ruling the world. The pop icon has been named brand ambassador for Pepsi in a multi-year deal estimated at $50 million.
According to The New York Times, the “hybrid” project will include commercials as well as a multimillion-dollar fund to support the singer’s creative endeavors.
“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 launch will coincide with the release of her next album, which is expected in 2013. Following her performance at the Pepsi-sponsored Super Bowl halftime show in New Orleans on February 3, the “Single Ladies” singer will appear in a global TV commercial for Pepsi (“Live for Now”), her fifth for the soft drink maker since 2002.
Her image will also adorn life-size standees in stores and a limited-edition line of soda cans, which will launch first in Europe in March.
The $50 million will be used for print, out-of-home, as well as in-store advertising and promotions worldwide, with the remainder split equally between Beyoncé’s fee and a “creative content development fund.” Beyoncé will also collaborate on the design of all materials related to the partnership.
For Pepsi, the goal is to enhance its reputation with consumers by acting as something of an artistic patron instead of simply paying for celebrity endorsements.
“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.”