Pepsi, FedEx Pull Superbowl Ads Friday, December 18, 10:00 AM ET
For the first time in 23 years, Pepsi will not advertise in this years Superbowl.
Pepsi was one of the biggest advertisers in the event, spending some $33 million on Superbowl ads in 2009. The company's Frito-Lay unit, however, will still run ads.
The company said it plans to shift its marketing efforts mostly online.
FedEx also announced that it will not be advertising during the superbowl in an effort to slash costs.
Pepsi pulling out of the Superbowl, however, has sparked discussion of rival Coca Cola advertising during the game, which it has not in the past.
Superbowl ads in the past have on average cost $3 million for a 30 second spot; this year, ads are going for as low as $2.5 million.
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