Pepsi has announced a new $50 million agreement with Beyonce that will adjoin the brand and R&B diva for a long time to come.

“Pepsi embraces creativity and understands that artists evolve. As a businesswoman, this allows me to work with a lifestyle brand with no compromise and without sacrificing my creativity,” said Beyonce in an official statement.

As a brand ambassador for the soft drink, Beyonce will be performing the following functions:

-Establishing the Creative Development Fund, a resource devoted to the co-creation of innovative and relevant consumer content.

-Collaboration on design – in addition to having her image on a can or bottle, she is working with us on the design of all materials related to the partnership

-Starring in a new “Live for Now” global TV commercial, currently planned for release in early 2013

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