Coca-Cola and Pepsi won’t advertise sodas of the same name during Super Bowl

Coca-Cola and PepsiCo will not be promoting their namesake sodas with Super Bowl commercials this year.

The decades-long rivalry between the two cola brands is often brought to the fore with dueling ads during the annual NFL Championship game. But this year, the two will stay away. Variety first reported the news.

Pepsi is replacing its traditional Super Bowl ad space with a new campaign to lead to its halftime show in the game starring The Weeknd. This year marks the 10th anniversary of Pepsi’s sponsorship of the Super Bowl halftime show. But Mtn Dew and Frito-Lay, both owned by PepsiCo, have plans for in-game ads.

In a statement to CNBC, Coke said he would toast other brands on the sidelines this year.

“This tough choice was made to ensure that we are investing in the right resources in these unprecedented times,” said spokesperson Kate Hartman.

In 2019, he chose to run an ad before the Super Bowl game rather than during. But recently, the beverage giant has been reeling from the impact of the coronavirus pandemic. Its revenue fell 13% in the first nine months of 2020 as it missed sales at restaurants, gas stations and office buildings. PepsiCo receives a smaller proportion of its sales on occasions away from home.

Coca-Cola shares fell 14% last year, giving it a market value of $ 210 billion. PepsiCo’s stock rose 2% at the same time, giving it a market value of $ 197 billion.