In the wake of an epic blunder by Pepsi this week, the television networks may have to scramble to replace what was likely going to be a large campaign. People magazine reports that the Kendall Jenner “protest” spot that sparked a backlash — resulting in Pepsi pulling the spot — could turn out to be an expensive mistake.
An industry executive quoted in the story estimated that the production costs on the spot would have been “at least $2 million, but probably more like $5 million, including Kendall’s fee,” while the media buy would be “roughly $100 million for a campaign like this.”
Pepsi apologized for the ad, as we reported previously, admitting that it “missed the mark.”
“Now, with the ad taken down, an advertising executive says networks that initially planned to run the commercial will have to look elsewhere to fill the spot,” People notes.
The ad exec is quoted saying: “They would have had to fill that inventory with other brands, had their agency fill it with other brands, or begged for options. Depending on the sold-out rate and relationship with the networks, it could be either no cost or very expensive.”
The executive adds: “Given that we are in upfronts right now, people are likely to do favors.”