In a statement reported by Adweek, Coca-Cola has said that it will stay away from Super Bowl LVI to have more time and space to focus on its existing sports sponsorships over the next few weeks.

In a statement, Coca-Cola said staying out of the Super Bowl leaves it more room to focus on the sports sponsorships it already has in place over the next several weeks. The brand has set up Coke Zero Sugar for NCAA March Madness, as well as marketing activations surrounding Nascar's Daytona 500 auto race on Feb. 20.

Who's out. Coca-Cola, once a regular Super Bowl advertiser, will stay on the sidelines for the third straight year, the brand confirmed.

#3 Coca Cola Coca-Cola has run over 16 Super Bowl commercials over the last 13 years. Over the past seven years, it has reportedly spent $25 million on Super Bowl advertisements. According to Adweek, the company spent about $10 million on advertisements for the 2020 Super Bowl.

Since he opted out of his contract with the San Francisco 49ers after the 2016 season, he has not been signed by a new team. A number of celebrities and ordinary people wrote on social media that they will not watch the game to protest the NFL's treatment of Kaepernick and to show support for his activism.

The last star of the Super Bowl Halftime Show, Dr. Dre, knows Apple Music well. Apple Music will replace Pepsi as the sponsor of the Super Bowl Halftime Show starting in 2023.

This means that if Coca-Cola does not advertise consistently, it will lose market share to other large competitors like PepsiCo (PEP) - it is even more important as consumers turn away from sugary drinks due to health concerns, leaving soft drink brands to amplify their creativity to stay in front of consumers.

Usually big brands like Coca Cola still advertise for brand awareness, not for sales. Everyone in the world is familiar with the brand, but it still has to have a major presence in our everyday lives for it to survive. Also, younger generations need to grow up with the brand; knowing the taste, colors and slogans.

Coca-Cola also proudly supports Olympic athletes through sponsorships, investment in youth sports programming and national Olympic teams.

NASCAR. Coca‑Cola has been involved with stock car racing for more than 50 years and has been the official sparkling beverage of NASCAR since 1998. Our long-term partnership with NASCAR runs through the 2023 season.

New Stanford research suggests that these Super Bowl ads are mostly effective - but not always. They do not drive new sales when two brands of the same type - soda, for example - are both advertising during the football game.

According to Kantar research, the 2021 Super Bowl ads delivered an average return on investment (ROI) of $4.60 per dollar spent, with many brands in the double digits. Based on this data, many marketers come to the conclusion that an investment in the Super Bowl is justified based on the attention and impact.