A Pepsi Max-branded channel runs on YouTube later this month, which will link to a new-look site. Both encourage consumers to upload videos showing how they would maximise their day if they had £1,000.
The public will vote on the clips, with a daily prize of £1,000 going to the video-maker with the highest rating.
The brand has also launched an online campaign with FHM.com, sponsoring its weekly e-mail to subscribers and giving users the chance to win DVDs, cinema and sports tickets.
It will also feature the top 100 video clips from the video competition.
Coca-Cola, meanwhile, is signing Wayne Rooney as the figurehead for its 'bloke coke' Coke Zero. His fiancée, Coleen McLoughlin, is also reported to be the new face of Diet Coke in a bid to differentiate the brands and target key consumers more effectively.
Figures from ACNielsen show Coke Zero has become the most successful new food and drink launch in the UK in the past three years. In 16 weeks since launch, the brand has achieved sales of £24.1m - double that of the next biggest launch, Mini Pringles.
The new entrant is now close on the heels of Pepsi Max. Four week data to 22 July shows Coke Zero has a 5.6% share of the cola market, and Pepsi Max 5.7%.
Coca-Cola will gain an orange variant next year.