PepsiCo to spend USD 322.96 million on sports sponsorship deals in Americas for 2023, estimates GlobalData
Over 110 non-alcoholic beverage brands, which include many globally recognised brands, have active sponsorship deals in place with sports properties based mainly in the US. Many of these deals …
Over 110 non-alcoholic beverage brands, which include many globally recognised brands, have active sponsorship deals in place with sports properties based mainly in the US. Many of these deals are title or main sponsorship deals, which allow brands to receive substantial brand exposure opportunities, often from sports properties that have substantial global fanbases. With many of the deals being highly lucrative, eight non-alcoholic beverage deals are worth over USD 10 million annually. PepsiCo is the biggest spending brand in the Americas region, with an estimated expenditure of USD 322.96 million, according to GlobalData, a leading data and analytics company.
GlobalData’s latest report “Americas Non-Alcoholic Beverages Sports Sponsorship Landscape,” estimates that the American multinational food, snack, and beverage corporation PepsiCo has 55 deals in place, which are worth USD 1 million or more annually. In 2023, over USD 100 million is being invested by PepsiCo in team deals, which include many NFL teams such as the New England Patriots, Washington Commanders, and Miami Dolphins.
PepsiCo’s biggest competitor in the sector is Coca-Cola. In 2023, Coca-Cola is estimated to spend close to USD 277 million on sponsorship deals across the Americas region, according to GlobalData. The brand’s biggest annual deal in the region is with US Soccer. The current five-year agreement between the two parties is estimated to be worth USD 100 million.
Tom Subak-Sharpe, Sport Analyst at GlobalData, comments: “It is not surprising that PepsiCo and Coca-Cola dominate the region of all the competing non-alcoholic beverage brands due to the vast amounts of funding that these two powerhouse organisations have to spend on developing their sponsorship portfolios.”
In 2024, it is unlikely that any other non-alcoholic beverage brands will come close to competing with these two brands. However, a brand to keep an eye on who may increase their sponsorship spend and deal volume count is PRIME, the brand that is currently serving as the official sports drink of the Los Angeles Dodgers.
Subak-Sharpe concludes: “The meteoric growth experienced by PRIME in 2023 may allow the brand to invest more finances into securing more sponsorship deals with globally recognised sports properties based in the Americas region.