Concert promoter Live Nation strikes multiyear deal with Pepsi

Top concert promoter Live Nation has struck a new deal with Pepsi.

PepsiCo announced Monday that its drinks would replace Coca-Cola's at 75 of Live Nation's venues as well as upcoming concerts in a new multiyear deal. The deal also includes a presence at some festivals such as Lollapalooza, the Voodoo Music + Arts Experience and FarmBorough, the new three-day country music festival set to debut in New York City in June.

Coca-Cola entered a deal with Live Nation in 2009. Some of Live Nation's popular tours have included Madonna, Prince, Beyonce and Jay Z.