Pepsi is going to forget about Dre. And everyone other music star that can appear in the Super Bowl halftime show.
The company has announced on Twitter that it will no longer be the sponsor of the annual halftime extravaganza at the Big Game, bowing out after a 10-year run.
“After 10 years of iconic Pepsi Super Bowl Halftime Show performances, we have decided it’s time to pass the mic,” the tweet said. ”Thank you to the amazing artists and fans who helped us create some incredible moments along the way. Now on to the next stage.”
During its run, Pepsi backed 26 musical acts representing 168 Grammys and almost 1,000 Billboard hits. The brand’s final show this year saw its first all hip-hop staging, with Eminem, Snoop Dogg, Mary J. Blige, Kendrick Lamar, Dr. Dre and 50 Cent participating. They followed past performers like The Weeknd, Jennifer Lopez, Shakira, Maroon 5, BIg Boi, Travis Scott, Justin Timberlake, Lady Gaga, Coldplay, Beyonce, Bruno Mars, Katy Perry and many others over the years.
CNBC had earlier reported that the NFL was planning to move on and shop the halftime rights. Pepsi’s original deal that began in 2012 was part of a 10-year agreement that was reportedly valued at $2 billion. The NFL is said to be seeking upwards of $50 million per year from a new halftime sponsor.
Brand paent PepsiCo isn’t abandoning the NFL. It is now shifting its budget to other NFL properties like the NFL Draft and various player awards. The company is also increasing its focus on streaming and digital platform advertising as broadcast continues to decline.
