On Monday, Coca Cola’s share value dropped from $56.17 to $55.22 because of the world renowned soccer star, Cristiano Ronaldo’s seemingly minute gesture. At a press conference following the UEFA European Championships, Ronaldo set aside two bottles of Coca Cola and instead took a drink from a plastic water bottle, exclaiming “Agua!” meaning water in Spanish. Coca Cola bottles are typically kept on display during UEFA press conferences because Coca Cola is a major sponsor of the event.
Ronaldo is widely known for valuing healthy a healthy diet, sharing with goal.com that he typically dodges sugary caffeinated drinks as well as alcohol because “‘drinking water is so important.’”
Ronaldo, holding the second most followed Instagram account with 281 million followers, is an incredibly impactful figure, and Coca Cola’s sizable loss because of Ronaldo’s minor slip up is a reminder of the power that athletes hold as influencers. Former Coca Cola sports marketing consultant Tim Crow, said to The Guardian, “It’s obviously a big moment for any brand when the world’s most followed footballer on social media does something like that.”
Choosing to keep the product out on display and rely on the player’s awareness during a press conference is evidently a risky decision. Crow continued to call product placement in press conferences an “outdated and inauthentic.”
