PepsiCo Inc.  (NYSE:PBG) has made a major advertising decision.  Rather than putting in the $2.5-$3 million pay check to place ads on Super Bowl, the company is launching a new online campaign.  This is the first time that Pepsi will not advertise during the Super Bowl over the last 23 years.

However Frito-Lay, a subsidiary of Pepsi will continue to place ads on the Super Bowl. Last year Pepsi spent about $33 million on advertising on Super Bowl for Pepsi, Gatorade, and Cheetos. Of that $33 million, $15 million was just on the Pepsi beverage.

“In 2010, each of our beverage brands has a strategy and marketing platform that will be less about a singular event and more about a movement,” stated Pepsi Marketing spokeswoman Nicole Bradley.