Pepsi already caused quite a stir with news that it will be hosting a reality TV show giving away $1 billion. Now the soft drink giant reveals how contestants can get on the show.
The Pepsi Play for $1 Billion sweepstakes hits stores May 1. Consumers can check for entry codes on specially marked packages of Pepsi, Mountain Dew and Sierra Mist and enter the codes at www.billionsweeps.com or mail it in. More than 1,000 contestants will be randomly selected to star on the show, which will award one winner $1 million, and offer a shot at the $1 billion prize (without forfeiting the $1 million).
If the finalist actually wins the $1 billion prize, payment will be sent out in the form of a 40-year annuity with a balloon payment in the final year or the contestant can take a lump sum payment representing the present value of the annuity.
Pepsi and its agency, Dallas-based SCA Promotions, have teamed with insurance company Berkshire Hathaway to underwrite the full value of the grand price.
Pepsi is also teaming with The WB on another show called Pepsi Smash, featuring music artists performing in front of live audiences.
Separately, Pepsi and Sony Music will run a promotion called Pepsi First Taste, which lets Pepsi ads feature bits of previously unreleased music before radio stations can play the full-length songs.
In July, Pepsi’s bottled water brand Aquafina, launches its biggest promotion to date with Aquafina Pure Luck. Consumers spotted drinking Aquafina or Aquafina Essentials will get a chance to win one of more than 40,000 prizes. A pair of Aquafina-branded blimps will assist the effort.
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