Many, many annual events are as iconic and anticipated as the Super Bowl Halftime Show.
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Historically branded and sponsored by Pepsi, the program itself and the ads surrounding it are a goldmine for advertisers.
This year alone, it was estimated that more than 103 million viewers tuned in to see Dr. Dre, Snoop Dogg, Eminem, Mary J. Blige, Kendrick Lamar and 50 Cent went out on the field as the Cincinnati Bengals faced the Los Angeles Rams.
But for the 2023 NFL season, it looks like there may be a major and significant change in the part-time program: Pepsi will no longer be sponsoring the program for the first time in a decade.
“After 10 years of iconic performances of the Pepsi Super Bowl Halftime Show, we’ve decided it’s time to turn the microphone on,” the company said in a statement. ad via Twitter. “Thanks to the amazing artists and fans who helped us create amazing moments along the way.”
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Pepsi’s contract with the NFL expired after the 2021-2022 season and was pending renewal; the soft drink and snack giant expanded its sponsorship of the league to other features, including Pepsi with premium rights to major NFL games and events.
“Our priorities and priorities have evolved, and we wanted to make sure that as we continue this partnership, we all work to achieve the same goal,” Tracie Rodburg, NFL’s senior vice president of sponsorship management, told CNBC. . in a statement.
Pepsi originally signed as the official NFL soft drink sponsor in 2002, replacing rival Coca-Cola in a deal that was estimated to close at $ 160 million for a five-year contract.
Pepsi, however, made fans believe that there was some other important sponsorship or agreement for the company, ending its posting on social media with a cryptic “Now to the next stage …” next to two emojis with their eyes open.
There are currently no specific reports on which company is looking at the rights to the part-time show, which is estimated to be at stake for about $ 50 million.
Pepsi was relatively flat over a 24-hour period on Wednesday afternoon and rose nearly 14% year-over-year at the same time.
The soda giant is expected to report on its second quarter 2022 earnings on July 12th.
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