Bud Light’s parent company, Anheuser-Busch, is estimated to have lost over one billion dollars in sales after the brand partnered with transgender influencer Dylan Mulvaney.
According to company data, Anheuser-Busch’s organic revenue dropped $1.4 billion in North America last year.
“Revenue declined by 17.3% with sales-to-retailers (STRs) down by 12.1%, primarily due to the volume decline of Bud Light. Sales-to-wholesalers (STWs) declined by 16.1% as shipments lagged stronger depletions in December,” a report said of the company’s fourth quarter.
The beer company explained that its growth “was constrained by the performance of our US business.”
“The beer industry remained resilient in FY23, with volumes improving sequentially throughout the year and with beer gaining share of total alcohol by value in the off-premise, according to Circana. Our beer market share has seen continued gradual improvement since May through the end of December. While our mainstream beer revenues declined this year, our above core beer megabrands continued to grow,” the report continued.
Bud Light’s sales fell after Mulvaney partnered with the company earlier last year and conservatives called for a widespread boycott.
