Beyoncé inks $50m Endorsement Deal with Pepsi

Afrik Update

Entertainment

By Leslie Larson

           

Beyoncé has inked a $50 million deal with Pepsi that comes fully loaded promoting the caffeinated cola in TV commercials and emblazoning her face on cans but additionally, it will allow her to take the reins in an undefined collaboration with the company to 'craft innovative content' as part of their global branding effort. 

The 31-year-old Grammy winner, who has an estimated net worth of $350 million, is being brought into the PepsCo fold to attract consumers to the brand as part of their 'Live for Now' campaign.

                                       

Pepsi will also be sponsoring the singer's tour next year and as a brand ambassador she will star in a TV commercial, to be release in early 2013.

But Pepsi is also joining forces with Beyoncé for an amorphous partnership with the soft drink giant, that has been described as a corporate sponsorship that will fund the singer's pet creative projects.

The company described it as a 'true creative and wide-ranging collaboration' with the two working in conjunction to 'co-create amazing content and experiences intended to benefit both partners.' 

'Pepsi embraces creativity and understands that artists evolve,' Beyoncé said in a statement to the New York Times.

'As a businesswoman, this allows me to work with a lifestyle brand with no compromise and without sacrificing my creativity.'

'We’re very excited about the chance to ‘share the stage’ with an iconic star like Beyoncé, while together we create opportunities for rising stars around the world,' Frank Cooper III, chief marketing officer of global consumer engagement for PepsiCo Global Beverages Group, said in a company statement.

'It’s going to add up to great new music and fun new experiences for our consumers, helping them make the most of the moment they’re in. That’s what ‘Live for Now’ is all about and that’s what this partnership is all about.'