Justin Timberlake speaks during the Pepsi Super Bowl LII Halftime Show press conference on February 1, 2018 in Minneapolis, Minnesota.
Timothy A. Clary | AFP | Getty Images
Coca-Cola and PepsiCo will not be promoting their eponymous soft drinks with Super Bowl announcements this year.
Decades of rivalry between the two glue brands is often revealed with duel announcements during the annual NFL championship game. But this year, they will both do it. Variety first reported the news.
Pepsi is replacing its traditional Super Bowl advertising space with a new campaign that will lead to its show halfway through the game with The Weeknd. This year marks the 10th anniversary of Pepsi’s sponsorship of the Super Bowl half-program. But Mtn Dew and Frito-Lay, which are owned by PepsiCo, have plans for ads in the game.
In a statement to CNBC, Coke said it will toast other brands this year.
“This difficult choice was made to ensure that we invest in the right resources during these unprecedented times,” said spokeswoman Kate Hartman.
In 2019, he opted to run an ad before the Super Bowl game instead of during. But recently, the beverage giant has been spreading the impact of the coronavirus pandemic. Its revenues fell 13% during the first nine months of 2020, as sales to restaurants, gas stations and office buildings were lost. PepsiCo receives a smaller proportion of its sales sometimes away from home.
Coca-Cola shares have fallen 14% in the last year, giving it a market value of $ 210 billion. PepsiCo shares have risen 2% at the same time, giving it a market value of $ 197 billion.