Anheuser-Busch InBev Faces Setback Amidst Transgender Campaign
Anheuser-Busch InBev, the leading global brewer, disclosed a noteworthy 10.5% decline in U.S. revenue during the second quarter, primarily due to a significant drop in sales of Bud Light.
Bud Light Loses its Long-Held Best-Selling Beer Position
After reigning as America’s top-selling beer for over two decades, Bud Light experienced a dip in popularity and slipped to second place in June, with Mexican lager Modelo Especial seizing the lead. Both brands fall under the ownership of ABInBev.
Controversial Transgender Influencer Campaign Sparks Conservative Backlash
Anheuser-Busch faced a wave of criticism and calls for a boycott from conservative figures and others following the inclusion of transgender influencer Dylan Mulvaney in their recent campaign, which also included the gesture of sending her a special edition Bud Light can.
Campaign Elicits Mixed Reactions
While certain supporters of Dylan Mulvaney expressed disappointment towards Bud Light for not offering adequate support in light of the backlash, others condemned the brand for featuring a transgender influencer in their marketing efforts.
Global Brands Counterbalance Decline in Bud Light Sales
Despite the decline in Bud Light sales, ABInBev managed to achieve an overall revenue increase of 7.2% in the second quarter, thanks to the strong performance of global brands such as Stella Artois and Corona.
Normalized Earnings Reach $4.9 Billion
ABInBev revealed a 5% rise in normalized earnings before interest, taxes, depreciation, and amortization, resulting in an impressive $4.9 billion.