The Super Bowl Halftime Show will no longer have the word “Pepsi” in front of it.
Pepsi’s deal with the NFL expired after the 2022 season. The company renewed its sponsorship deal with the league this week, but per the new deal’s terms, it will no longer serve as the presenting partner for the iconic halftime show.
Financial terms of the new deal were not disclosed. Adweek reported that Pepsi is looking to transition more of its media spend toward digital audiences as traditional broadcast audiences continue to narrow.
- This year’s performance featuring Dr. Dre, Snoop Dogg, Mary J. Blige, Kendrick Lamar, and Eminem brought in 103.4 million viewers.
- Katy Perry’s 2015 performance had the show’s peak audience at 120.7 million.
- The lowest audience was 96.7 million for The Weeknd’s 2021 performance.
Halftime’s Hefty Tag
With Pepsi out, the rights could reportedly sell for $40 million to $50 million. Pepsi’s previous deal, which included more than the halftime show, was worth $2.3 billion over 10 years. Before that, Bridgestone paid up to $10 million annually.
The price makes sense. Pepsi earned $9.4 million in media value for 2021’s halftime broadcast. It also received the most buzz on Twitter for three years in a row compared with other Super Bowl advertisers. Thirty-second commercial spots sold for $6.5 million this year.