Super Bowl halftime show needs a sponsor after Pepsi ends 10-year run
Pepsi announced Tuesday it will no longer sponsor the Super Bowl halftime show after a 10-year run, ushering in a flood of speculation about who will take over the deal.
Why it matters: The Super Bowl remains a tentpole event. The halftime show is also notorious for transcending TV, dominating online and IRL conversations.
What they're saying: In a statement yesterday, the NFL teased that it's already received an "incredible amount of interest" from potential new sponsors.
- "The Super Bowl Halftime performance has grown to become the most talked-about musical event of the year and delivers what advertisers most crave — aggregating a massive live audience," NFL spokesperson Alex Riethmiller tells Axios. "As you would expect, we've received an incredible amount of interest from the marketplace and look forward to announcing a new partner."
Yes, and: Pepsi's exit was previously reported. In February, Sports Business Journal's Terry Lefton had noted speculation that Verizon could take over, writing that agency sources said the deal is being pitched as $40 million to $50 million per year.
- Sportico's Jacob Feldman wrote that "crypto exchanges, betting companies and tech titans" could bid.
What we're watching: "The NFL is believed to be particularly interested in attracting a partner that could also use behind-the-scenes access or bonus content, potentially benefitting both the music industry or a video platform that hosts the content." — Alex Weprin, THR