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Coke, AOL marketing pact
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May 3, 2000: 10:11 a.m. ET
Well-known companies will market each other's products on Web and TV
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NEW YORK (CNNfn) - Coca-Cola Co. and America Online announced Wednesday they will pair in an online and offline marketing alliance that is reportedly valued at $64 million.
The alliance marks the soft drink maker's first foray in worldwide online advertising and will focus on several marketing themes such as music, movies, sports and holidays and will feature Coke's sponsorship of the Olympics, the Christmas season and AOL's (AOL: Research, Estimates) MovieFone unit.
 A company official from Coke (KO: Research, Estimates) told CNNfn that the soda company forged the interactive relationship with AOL because, "We've always done mass advertising in stadiums, concerts and TV, but it's pretty clear the world has changed."
"As the most recognized global consumer brand, Coca-Cola already is part of people's everyday lives everywhere," said Bob Pittman, AOL's president and chief operating officer said in a statement. "With this exciting new alliance, we will ... create innovative and effective consumer marketing campaigns both online and offline around the world."
Coca-Cola will promote AOL's interactive services and products to its customers using Coke's distribution channels throughout the world, including advertising, merchandising, packaging and in-store promotions.
 America Online will market Coke's brands online through its interactive brands including AOL, CompuServe, AOL.com, Netscape, Spinner, Winamp and ICQ. AOL currently counts 24 million paying customers across its brands.
"Coca-Cola's legacy dates back more than a hundred years, whereas the AOL brand is barely a decade old, but today Coca-Cola and AOL are two of the most recognized and powerful consumer brands in the world," said Steve Case, chairman and chief executive officer of AOL. "We look forward to helping Coca-Cola use the online medium to extend its legacy into this new Internet century."
In early trading Wednesday, AOL slipped 3/4 to 57 while Coke rose 7/8 to 47-1/8. 
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AOL
Coca-Cola
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