Anheuser-Busch InBev’s Bud Light brand is still struggling to regain its footing in the U.S. market more than a year after facing backlash over its partnership with transgender influencer Dylan Mulvaney.
In its latest quarterly earnings report released on Wednesday, A-B revealed a 2.6% increase in global revenue but a significant 9.1% decrease in revenue in America. The company attributed much of this decline to a drop in Bud Light sales, with sales to retailers in the U.S. plummeting by 13.7%.
Wholesalers in the U.S. also experienced a downturn, with sales dropping by 10.1%. Additionally, the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) saw a steep decline of 19.7%.
Globally, total volumes were down by 0.6% in the quarter, with A-B’s beer volumes decreasing by 1.3%. However, non-beer volumes saw an increase of 3.5%.
The decline in Bud Light sales in the U.S. can be traced back to April 2023 when the brand’s decision to create custom beer cans for Mulvaney stirred controversy. This move, along with comments from Bud Light’s marketing vice president, Alissa Heinerscheid, seeking to modernize the brand’s image, sparked backlash from conservative influencers and celebrities, leading to a widespread boycott.
As a result of this backlash, Bud Light lost its position as the top-selling beer in the U.S., relinquishing the title to Constellation Brand’s Modela Especial.
