The fact you’ve just reeled off the sponsors for both rides means you’ve just nicely explained the reason yourself right there

- brand awareness.
Arguably Pepsi’s sponsorship of the Big One was probably one of the most impressive in the 90s. I don’t think there’s anyone who didn’t know it as the Pepsi Max Big One. It’s a giant red and blue landmark which just so happens to share Pepsi’s own traditional logo colours. Linking a brand with the adrenaline rush and thrill of a theme park ride was also huge business, especially in the 90s before wider use of the Internet. Pepsi Max has always been linked to extreme sports/activities with the tag line “maximum taste no sugar” to differentiate from Diet Coke, which was posted as a ‘female only’ drink in the past. Throwing theme park rides into the mix was a natural extension to that.
Likewise with Ice Blast debuting as PlayStation: The Ride, it’s an exciting and thrilling attraction and linking a brand to that in the public’s mind was ideal to marketers. Things have moved on a fair bit in recent years, sponsorships maybe aren’t so blatant. But that’s thanks to the Internet presenting so many other forms of advertising for businesses these days.