Justin Timberlake speaks during the Pepsi Super Bowl LII Halftime Show press convention February 1, 2018 in Minneapolis, Minnesota.
Timothy A. Clary | AFP | Getty Images
The decadeslong rivalry between the two cola manufacturers is usually put entrance and heart with dueling commercials during the annual NFL championship recreation. But this 12 months, each will sit it out. Variety first reported the information.
Pepsi is changing its conventional Super Bowl advert slot with a brand new marketing campaign to guide in to its halftime present at the recreation that includes The Weeknd. This 12 months marks the 10-year anniversary of Pepsi’s sponsorship of the Super Bowl’s halftime present. But Mtn Dew and Frito-Lay, that are each owned by PepsiCo, have plans for in-game adverts.
In an announcement to CNBC, Coke mentioned that it’ll be toasting to different manufacturers from the sidelines this 12 months.
“This difficult choice was made to ensure we are investing in the right resources during these unprecedented times,” spokesperson Kate Hartman mentioned.
In 2019, it opted to run an advert earlier than the Super Bowl recreation somewhat than during. But just lately, the beverage large has been reeling from the influence of the coronavirus pandemic. Its income fell 13% during the first 9 months of 2020 because it missed out on gross sales at eating places, fuel stations and workplace buildings. PepsiCo receives a smaller proportion of its gross sales from away-from-home events.
Shares of Coke have fallen 14% in the final 12 months, giving it a market worth of $210 billion. PepsiCo’s inventory has risen 2% in the similar time, giving it a market worth of $197 billion.