Pepsi pulls itself out of the Superbowl

After 23 years, Pepsi has finally decided to not advertise during the Superbowl and rather focus its advertising dollars online, while also launching a new program called the Pepsi Refresh Project. The company says that each of its brands has a “strategy and marketing platform that will be less about a singular event”

With the new campaign, Pepsi is stepping into cause-related marketing. Pepsi has set aside $20 million of its ad dollars for grant money to be awarded for community projects proposed by consumers for the Pepsi Refresh Project.

Given that the cost of a :30 second Superbowl Spot cost $3 million in 2009 and the expected increase in 30 second spots for 2010, it is interesting to note that both Pepsi and FedEx(also did not have a 30 second spot in 2009) have decided to focus its advertising and marketing dollars in other efforts with online being a big push as Pepsi expects to spend 60% more in online advertising in 2010.

What other big brands are going to follow Pepsi and Fedex? Will online advertising dollars for brands continue to increase as traditional advertising is seen as less prominent?