PepsiCo (PEP) and Diageo (DGE) Withdraw from London’s Wireless Festival Due to Kanye West

TLDR

• Both PepsiCo (PEP) and Diageo (DGE) have withdrawn their sponsorships from London’s Wireless Festival after Kanye West was announced as the event’s headliner.
• Ahead of the July event at Finsbury Park, the festival had been marketed under the branding “Pepsi Max Presents Wireless”.
• West is scheduled to headline all three days of the festival, a booking that has drawn criticism from UK Prime Minister Keir Starmer.
• West’s past controversies — including inflammatory statements about Hitler, the Holocaust, and slavery — led to him losing major partnerships with Adidas and Gap back in 2022.
• West launched his new album “Bully” on March 28 and signed a mid-to-low seven-figure partnership with music company Gamma.

(SeaPRwire) –   PepsiCo (PEP) and Diageo (DGE) have both pulled their sponsorships from London’s Wireless Festival after organizers announced that Kanye West — who now goes by the name Ye — will headline the event.

PepsiCo Inc., PEP

The festival, set to take place in July at Finsbury Park, was promoted under the name “Pepsi Max Presents Wireless” in all marketing materials. West is booked to perform across all three days of the event.

PepsiCo confirmed its exit on Sunday. “Pepsi has decided to withdraw its sponsorship of Wireless Festival,” the company said in a public statement. Diageo followed shortly after, confirming it had shared its concerns with organizers and would not sponsor the 2026 event.

Representatives for both West and Wireless Festival declined to respond to requests for comment on the situation.

The booking of West drew immediate criticism across the UK. Prime Minister Keir Starmer told The Sun that the decision to hire West was “deeply concerning,” adding political pressure to an already commercially awkward position for event sponsors.

West’s history of controversy is well documented. In recent years, he has made public statements praising Adolf Hitler, denied the Holocaust, and described slavery as a “choice.” These remarks triggered a wave of brands cutting ties with him in 2022, with both Adidas and Gap ending their business relationships with the rapper.

The split with Adidas left the sportswear brand holding more than $1 billion in unsold Yeezy footwear. The two parties eventually settled their legal dispute in 2024, with no financial payment issued to West.

West’s Push to Rebuild His Image

West has been working to repair his public standing in recent months. In January, he purchased a full-page ad in The Wall Street Journal — formatted as a letter “to those I hurt” — where he stated he was “deeply mortified” by his past actions. He attributed his past behavior to bipolar disorder and said he is following a treatment plan that includes medication, therapy, and lifestyle changes.

His new album “Bully” launched on March 28, backed by a mid-to-low seven-figure deal with music company Gamma.

Despite widespread corporate fallout from his past comments, West still retains a large global audience. He currently has 73.5 million monthly listeners on Spotify and 19.7 million followers on Instagram.

The Commercial Position of Wireless Festival

The exit of two major sponsors leaves Wireless Festival in a challenging spot ahead of the upcoming summer event. The festival built part of its brand around its partnership with PepsiCo, making this high-profile withdrawal hard to absorb quietly.

Diageo, whose brand portfolio includes Guinness, Johnnie Walker, and Smirnoff, confirmed its pullout later on Sunday. Neither company shared detailed reasons for their exit beyond citing concerns about the booking of West.

PepsiCo (PEP) stock rose 1.53% on the trading day. Diageo (DGE) saw its share price slip 0.25%.