Coke seals £95m Harry Potter deal
AOL Time Warner has chosen Coca-Cola to be its sole global marketing partner for the release of the forthcoming “Harry Potter and the Philosopher’s Stone” film, in a deal worth &£95m.
It will cost Coca-Cola nearly as much as the &£110m movie, which launches in November. The deal between the two companies also covers the film’s video release.
Coke senior vice president and chief marketing officer Steve Jones says: “This is one of the largest global entertainment initiatives ever undertaken by Coca-Cola.”
The exact nature of Coke’s plans will be made public in the spring. However, it is clear that Coke will have to pay for a worldwide literacy campaign and a large chunk of the media blitz that will hit television screens weeks before the film’s opening.
Both Warner and Coke are under pressure to come up with a major hit in their sectors.
Coke is struggling to redress its falling sales with a “think local act local” marketing strategy and Warner Bros has been bereft of a blockbuster movie in the past few years.
The Harry Potter film, based on the book by British author JK Rowling, could provide the solution for both companies.
The agreement does not include a deal with a fast food chain, as Rowling has objected to what she considers the over-aggressive commercialisation of her character.
