After a decade as the presenting sponsor of the Super Bowl halftime show, Pepsi is pulling out of the Big Game’s star-studded entertainment break. The soft drink giant will, however, retain its sponsorship rights with the NFL.
The soda-and-snacks company officially renewed its nearly four-decade partnership with the league on Tuesday. The announcement was made after the NFL’s spring meeting in Atlanta.
In a statement, Pepsi said ending the partnership reflects a “larger strategic shift to bring unprecedented music and entertainment experiences” to consumers “where they are now, and where they will be in the future.”
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In response to the announcement, an NFL spokesperson said, “The Super Bowl Halftime performance has grown to become the most talked about musical event of the year and delivers what advertisers most crave—aggregating a massive live audience.”
Under the renewed deal, Pepsi will use NFL premium rights for its brands, including Frito Lay and Tostitos. The company will get pouring rights at top NFL events, including the NFL Draft.
In addition, Pepsi and the NFL are teaming up to unveil a Gatorade pre-workout product for players this fall, which is expected to be available for consumers in 2023.
The terms of the renewed deal remain undisclosed. The previous deal was said to be worth $2 billion over 10 years.
“Our priorities and their priorities have evolved, and we wanted to make sure that as we continue this partnership that we’re all working toward the same goal,” Tracie Rodburg, the NFL’s senior vice president of sponsorship management, told CNBC.
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Before Pepsi, auto parts manufacturer Bridgestone held the Super Bowl Halftime rights. Bridgestone’s tenure began in 2008.
The 2022 Super Bowl Halftime Show featured iconic hip-hop stars Dr. Dre and Snoop Dogg. The NFL partners with Jay-Z’s Roc Nation to produce the halftime show.
