Black, Hispanic and Asian-American and Pacific Islander-owned media companies and partners will account for 8% of the company’s total annual media budget in North America by 2024.
The Super Bowl has long served as a prominent front for the long-running soda war between Coca-Cola and Pepsi. This year, the beverage giants will fight that battle somewhere else. Coca-Cola said Friday it would not run ads in CBS’s broadcast of Super Bowl LV, citing a “difficult choice” made to “ensure we are investing in the right resources during these unprecedented times.” Coke’s announcement follows a similar one made by rival Pepsi, which has opted to focus on its annual halftime show rather than run commercials for its flagship drink.
After sitting on the sidelines for a year, Coca-Cola is getting back into the Super Bowl ad game. The beverage giant has purchased a 60-second spot slated to run in Fox’s broadcast of Super Bowl LIV on Feb. 2, 2020, a spokeswoman for the Atlanta company said Tuesday. The creative execution and concept for the ad, she said, have yet to be determined.
Coca-Cola is pulling back from the Super Bowl after an 11-year run, opting to run a commercial just before kickoff of the CBS broadcast of the game on Feb. 3, but not in the event itself.
The Supreme Court has given Pom Wonderful the go-ahead to sue Coca-Cola in a case expected to have significant ramifications for the food and beverage industry, in terms of how foods are named and marketed via labeling.
Demand for Coca-Cola’s soft drinks is shrinking in North America, while growth in emerging markets shows signs of slowing. CEO Muhtar Kent believes increased marketing and media investment is the answer.