Beyonce just added to her overall net worth after signing a $50 million deal to become the official spokesperson for Pepsi.
The singer has had done advertising work in the past for Pepsi starting in 2002. But according to The New York Times reports, the new agreement includes traditional promotional appearances and a new commercial, but also the beverage company’s investment in a number of the singer’s creative projects.
Previously the singer appeared in commercials with other singers such as, Britney Spears, Pink, and Jennifer Lopez. She has also performed in a Super Bowl Halftime show that was sponsored by Pepsi.
“Pepsi embraces creativity and understands that artists evolve,” Beyonce told The Times in a statement. “As a businesswoman, this allows me to work with a lifestyle brand with no compromise and without sacrificing my creativity.”
“Both Pepsi and Beyoncé’s team have done a great job of positioning the partnership to get people talking about it right away before any real marketing materials are in the public eye,” says David Schwab, head of Octagon First Call’s a celebrity acquisition unit which partners celebrities with branded opportunities and partnerships, who notes that from the outset, the positioning of a celebrity deal can be nearly as important as the deal itself, but just how much creative control and collaboration goes down will unfold further down the road.
“I wouldn’t be surprised if she’s sitting in a board room with the Pepsi creative department talking about her fans and her vision,” he says, “But you can’t know what’s going to come out of that meeting.”
“Beyoncé knows how to sell Beyoncé and Pepsi knows how to sell Pepsi. We’ll see success only if those two marketing minds think alike, and it will certainly work best if they both go into the deal knowing that,” Schwab concluded.
Beyonce and her husband, rapper Jay-Z were said to be the highest earning celebrity couple in the last year, earning $78 million together.