BEYONCE INKS $50 MILLION DEAL WITH PEPSI

Beyonce has signed a $50 million deal with Pepsi, The New York Times reports. The agreement includes traditional promotional appearances and a new commercial, but also the beverage company's investment in a number of the singer's creative projects.

Pepsi's move is in line with a trend toward content creation as advertisers seek new inroads into the music business and labels' marketing budgets continue to decline.