Beyonce's new Pepsi deal: $50 million for ads and whatever else she wants
That's the gist of a new, $50 million deal between the soda company and the music superstar.
Beyonce will be the face of the brand, sure, in TV ads and on Pepsi cans, and the company is sponsoring her upcoming tour and the Super Bowl halftime show where she'll be the featured performer. But part of the deal involves something called the Pepsi Creative Development Fund, which will give money for projects with few strings attached, The New York Times reports.
"Pepsi embraces creativity and understands that artists evolve," Beyonce says in a statement. "As a businesswoman, this allows me to work with a lifestyle brand with no compromise and without sacrificing my creativity."
The idea behind the fund seems to be to that letting consumers know Pepsi is giving Beyonce the money and freedom to create whatever she wants to create will reflect positively on the brand.
"It's wise for a brand like Pepsi to give an artist the ability to truly express herself, instead of just the old-school way of, 'Do you want to be in an advertisement?'" Lee Anne Callhan-Longo, general manager of Beyonce's company Parkwood Entertainment, tells the Times. "This is much bigger. This is, 'How can we create something together that is truly unique?'"
What do you think of the deal? Would you be more inclined to buy a Pepsi knowing they support Beyonce?