Justin Timberlake speaks during the press conference of Pepsi Super Bowl LII Halftime Show on February 1, 2018 in Minneapolis, Minnesota.
Timothy A. Clary | AFP | Getty Images
Coca-Cola and PepsiCo will not be promoting their name rolls this year with Super Bowl ads.
The decades-long rivalry between the two cola brands is often preceded by duel ads during the annual NFL Championship game. But this year, both will single it out. Variety first reported the news.
Pepsi replaces its traditional Super Bowl ad slot with a new campaign to lead to its halftime show at the game with The Weeknd. This year marks the 10th anniversary of Pepsi’s sponsorship of the Super Bowl’s halftime show. But Mtn Dew and Frito-Lay, both owned by PepsiCo, have plans for ads in the game.
In a statement to CNBC, Coke said he would roast other brands from the sidelines 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, they decided to place an ad before the Super Bowl game rather than during. But recently, the liquor giant has struggled due to the impact of the coronavirus pandemic. Revenue fell by 13% during the first nine months of 2020 as it missed sales at restaurants, gas stations and office buildings. PepsiCo receives a smaller share of its sales from home events.
Coke shares have fallen 14% over the past year, giving a market value of $ 210 billion. PepsiCo’s share rose 2% over the same period, giving a market value of $ 197 billion.