Super Bowl advertisement regulars, Coca-Cola and Pepsi have opted out of airing a commercial this year.
According to CNBC, Coca-Cola has been experiencing a loss of revenue during the corona virus pandemic. The 13 percent loss of revenue can be attributed to the lack of sales from restaurants, gas stations, and vending machines. Due to this, Coca-Cola spokesperson Kate Hartman explains that they will be, “investing in the right resources during these unprecedented times,”.
Variety states that CBS is seeking $5.1 million and $5.3 million for a commercial during the game. While Coca-Cola will still be investing in advertising, they will not be paying the entry fee for a Super Bowl advertisement.
On the other hand, CNBC also reports that PepsiCo’s stock has risen 2 percent during the pandemic. Furthermore, they will be continuing their sponsorship of the Super Bowl half-time show. While other PepsiCo products such as Mountain Dew and Frito-Lay are slated to advertise, Pepsi will not advertise during the game. Instead, Pepsi is currently airing a campaign advertising the upcoming half-time performance.
While this news does not mean the end of Coca-Cola and Pepsi spots during the Super Bowl, it does reflect the changes companies have to make due to the pandemic. According to Fox Business, Mint Mobile, Burger King, Sony, and many other companies have decided to advertise during the Super Bowl. Instead, companies are deciding to invest their money elsewhere.
