The campaign centres on a "visual album" featuring music from Rita Ora, Santigold, Kelly Rowland and Timbaland, among others.
The tracks will serve as inspirations for 11 short films by directors including Spike Lee, Idris Elba and The Kolton Brothers.
Each week Pepsi Max will showcase the songs from the album as a new single available on iTunes, with the accompanying filmtracks streamed on a dedicate microsite www.pepsi.com/thegame as well as YouTube and Vevo.
In addition to the music activity, Pepsi Max has partnered with Cine Favela, a cultural non-profit organisation that provides film education and tools for aspiring young directors throughout Brazil.
The films for Pearls Negras’ track on the "Beats of the Beautiful Game" will be brought to life through film by Cine Favela.
Frank Cooper III, chief marketing officer, global consumer engagement, PepsiCo, said: "This visual album is a celebration of different artistic talents and intertwines two art forms that up until now existed mostly in service of one another.
"With Pepsi Beats of the Beautiful Game, we are finally elevating these artforms to an equal plane and showcasing them on a global level.
"The ‘beats’ are both musical and visual snapshots that speak to the spirit of football culture, where songs serve as inspiration for the films – and the films allow for greater interpretation of the songs."