Pepsi announced that it will no longer sponsor the annual Super Bowl halftime show.
While the company is extending its partnership with the NFL, the new deal won’t keep Pepsi’s name attached to the widely watched concert.
“After 10 years of iconic Pepsi Super Bowl Halftime Show performances, we have decided it’s time to pass the mic,” Pepsi wrote in a statement on the brand’s Twitter page. “Thank you to the amazing artists and fans who helped us create some incredible moments along the way. Now on to the next stage.”
No live TV event draws more viewers than the Super Bowl, so this development speaks to the increasingly spread out media landscape.
Based on Twitter interactions alone, either Pepsi’s rival — backed by Taylor Swift — or a cryptocurrency company are the speculated front-runners to assume the sponsorship mantle.
Another fan merely hopes this means the end of ads for the event seemingly running throughout the regular season. (Don’t count on it.)
Of course, not everyone cares about a soda company no longer promoting a music performance at a football game.
CNBC’s Jabari Young reported last October that the NFL could seek up to $50 million per year for the halftime show’s naming rights.