Pepsi breaks off 10-year relationship with Super Bowl

Pepsi announced earlier this week that it will no longer sponsor the Super Bowl Halftime Show, ending a decade-long partnership.

The soft drink company took to Twitter to announce: “After 10 years of iconic Pepsi Super Bowl halftime show performances, we’ve decided it’s time to pass the mic,” as well as showing gratitude to those who have performed over the years.

Pepsi’s contract with the NFL expired this season and while the company has renewed its contract, it is giving up the halftime show. The previous deal was said to be worth $2 billion over 10 years. The company wants to allocate more budget to digital media.

https://twitter.com/pepsi/status/1529175845310545922?s=20&t=xNOw0N2ijIyS5vbKHsW11A

The competition is already looking for a new sponsor and claims to have received an incredible amount of interest from the market.