Peter Shankman on CNN talking about Beyonce’s game changing pop star endorsement deal. This was a first of its kind $50 million global partnership deal with Pepsi. Peter lent his considerable insights and knowledge of branding to the CNN report. Peter spoke directly to Pepsi to get the details to find out that the deal was actually not a payout but more of a creative development deal.
CNN: A mere decade ago, pop superstar, Beyonce Knowles first appeared in an ad for Pepsi. Well, Oh, this deal taking pop star endorsements, really to a whole other level, because now Beyonce has signed a $50 million contract with Pepsi to become global partners. So this basically means Beyonce is much more than merely a brand sitter for Pepsi.Pepsi becomes a brand ambassador for Beyonce. So we wanted to bring in. Branding and social media consultants, Peter Shankman our go to guy on all this kind of stuff. Um, so Peter we know that her hubby Jay-Z did a little something similar, uh, right. Striking up deals, getting a little bit more creative control. You’ve talked to Pepsi. Give me the skinny.
Peter Shankman: Yeah. You sent me some info on this. It’s you know, I think the big mistake, when you hear Beyonce in a $50 million deal with Pepsi, you assume that Pepsi is writing a $50 million check to Beyonce. That’s actually not the case. Um, the majority of that money, according to Pepsi is going to go into a creative development.
Fun that will work. Uh, that’ll create events, events around the world. Branding opportunities, probably promotions, probably in store, probably in concert halls, venues, things like that, where they can share the spotlight. So it’s a great thing for Pepsi. Pepsi gets a lot of exposure at Beyonce events and concerts.
Beyonce gets a lot of exposure on the side of millions and millions of millions of Pepsi cans. How many people? I mean, there are not many beyond say’s out there that get this sort of like mutual endorsement deal. I mean, if we’re talking Beyonce, we’re talking to JZ, is this just a select? Yeah. You, they really is, you know, think about this.
Pepsi started this in 1984 with Michael Jackson and everyone remembers that. And that was groundbreaking at the time to give creative control of when artists back in the eighties was almost unheard of for commercials. What’s really interesting about this though, is that, um, you know, Beyonce has a company along with Jay-Z, Parkwood entertainment, and they have been doing lots of other things behind the scenes from movies to TV, to videos, to commercials.
So this isn’t anything new, right? But the extent and the scope of this is, is pretty impressive. Especially for someone like a Pepsi. Pepsi is the second largest beverage food and beverage putting in the world. You know, you do it. You’re Beyonce. You’re walking on air today.
CNN: Globally global air. Um, let me ask you Peter about this potential game changer in the music industry, because we heard today rolling stones, or they’re trying this whole new idea of basically these pay per view concerts. If you can’t, you know, fork over, I don’t know, multiple hundreds of dollars to see them, you know, in person for 40 bucks, you can watch the concert from home maybe, or your phone. I love a good live show. When you hear about this for you about the future of live music.
Peter Shankman: You know, they tried this, uh, about 20, 25 years ago. The problem was you had to be in front of a, of a TV at your home at a very specific time. Uh, quality. Wasn’t that great. Now, you know, you could be walking down the street, uh, jamming out to the Stones. I think it’s a good idea. And Hey, let’s face it. That the rolling stones. It’s not like they’re not going to sell out their concerts, but this is another added revenue stream. Pretty, pretty big on here.
About Peter Shankman
Peter is a worldwide influencer and spokesperson for brands across the globe. He is a 5x best selling author, entrepreneur and corporate in-person and digital keynote speaker, focusing on customer service and the new and emerging customer and neurotatypical economy.