Justin Timberlake speaks during the Pepsi Super Bowl LII Halftime Show press conference, February 1, 2018, in Minneapolis, Minnesota.
Timothy A. Clary | AFP | Getty Images
Coca-Cola and PepsiCo will not be promoting their alcoholic beverages this year with Super Bowl commercials.
The decades-long rivalry between the two cola brands is often the focus of commercials during the annual NFL championship. But this year, both will solve it. Variety first reported the news.
Pepsi is replacing its traditional Super Bowl advertising space with a new campaign to lead the show to the break with The Weeknd. This year marks 10 years since Pepsi sponsored the Super Bowl break show. But Mtn Dew and Frito-Lay, both owned by PepsiCo, have plans for in-game commercials.
In a statement to CNBC, Coke said that this year it will fry for other brands on the sidelines.
“This difficult choice was made to ensure that we are investing in the right resources in these unprecedented times,” said spokeswoman Kate Hartman.
In 2019, he opted to run an ad before the Super Bowl game, rather than during. But recently, the beverage giant is moving away from the impact of the coronavirus pandemic. Its revenues fell by 13% in the first nine months of 2020, as it lost sales to restaurants, gas stations and office buildings. PepsiCo receives a smaller proportion of its sales from other occasions.
Coca-Cola shares have fallen 14 percent in the past year, giving it a market value of $ 210 billion. PepsiCo shares rose 2% at the same time, giving it a market value of $ 197 billion.