The Art Basel appearance marks only one happy event for the singer this week, who just landed a new $50 million deal with Pepsi. Details of the deal are starting to emerge, and this Beyonce-Pepsi partnership is no standard celebrity endorsement, but rather a full throttle business collaboration.
The $50 million deal will include typical channels of advertising like commercials and print ads. In addition, Pepsi has also pledged a multimillion-dollar “creative content development fund” to support Beyonce’s artistic endeavors.
“Consumers are seeking a much greater authenticity in marketing from the brands they love,” argued Brad Jakeman, president of PepsiCo’s global beverage group. “It’s caused a shift in the way we think about deals with artists, from a transactional deal to a mutually beneficial collaboration.”
Even by calling pop stars “artists” Pepsi has ushered in a new era of marketing, moving away from the saccharine ads that have dominated their campaigns since the early 2000s, featuring Beyonce and Britney Spears, among others.
It seems that Pepsi and Beyonce have reached this deal with similar goals of brand evolution. “Pepsi embraces creativity and understands that artists evolve,” Beyonce said in a statement. “As a businesswoman, this allows me to work with a lifestyle brand with no compromise and without sacrificing my creativity.”
Pepsi will also release limited-edition Pepsi cans featuring Beyonce’s face, which will first debut in Europe around March.
Beyonce and Jay-Z at Art Basel photos
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