Beyonce has just inked a deal worth $50 million with Pepsi. In an unprecedented deal, Queen Bey will have a lot of say in the print ads and commercials she appears in as she promotes the brand. In a statement, the singer and businesswoman expresses her excitement at being involved with a company that “embraces creativity.”
According to the New York Times, the deal is a win-win situation. Beyonce will put her face on limited edition cans and the like, while the beverage company provides funding for her creative projects. This funding will help support her upcoming world tour, another album and other projects that would benefit both parties.
Bey’s contract is considered revolutionary in the world of advertising. Her creative strength is a powerful asset judging by her own success. Pepsi President, Brad Jakeman, is hoping her influence will add authenticity to future advertisements, which will translate to a higher market share.
Beyoncé said: “Pepsi embraces creativity and understands that artists evolve. As a businesswoman, this allows me to work with a lifestyle brand with no compromise and without sacrificing my creativity.”
Brad Jakeman, president of PepsiCo’s global beverage group, added: “Consumers are seeking a much greater authenticity in marketing from the brands they love.
“It’s caused a shift in the way we think about deals with artists, from a transactional deal to a mutually beneficial collaboration.”