Chief Marketing Officer, Global Consumer Engagement of Pepsi Sparkling Beverages
POWER MOVE: Green-lit $50 million marketing partnership with superstar Beyoncé.
THE RUNDOWN: Pepsi is the most powerful brand in terms of physical spending (with a record-breaking $300 million spent on event sponsorship in 2012, according to sponsorship analytics firm IEG). PepsiCo’s chief marketing officer of global consumer engagement, Frank Cooper, has been laboring to make Pepsi’s dollars work especially hard for the music business. According to him, “Our creative process is to build things with the industry -- a lot of people believe that’s really the only way to create value.”
Case in point: Reteaming with previous Pepsi pitchwoman Beyoncé for a multitiered endorsement deal that kicked off during the Super Bowl halftime show and continues with a global TV commercial along with support of Beyoncé’s other creative projects, valued at a media spend north of $50 million. That’s on top of an original music strategy that has seen Pepsi tap Calvin Harris and Ne-Yo, as well as Kelly Clarkson, Lenny Kravitz, Aerosmith, Kid Rock and others, for custom Pepsi “anthems” with the NFL that never mention the soft drink.
Having previously held senior roles at Motown, Def Jam and Tommy Boy Gospel, Cooper understands the opportunity that comes with his position. “I don’t depend on turning a profit off of the artist’s music, so it frees you up to think about mutually beneficial relationships . . . This is purely about, ‘Can we get together to create value that otherwise would not happen?’ And that’s what makes it fun.”