The parent company of Bud Light, Anheuser-Busch, is reporting losing $390 million in the second quarter of 2023, almost all exclusively from loss of sales of Bud Light, which was once the top beer in America and now has fallen outside the top 10. This all came about after Bud Light featured trans activist and misogynist Dylan Mulvaney.
Anheuser-Busch Smacked With More Devastating News About Losses From Bud Light Boycott – RedState
… But the numbers show that Anheuser-Busch has taken a huge hit in the second quarter, losing a whopping $390 million.
The parent company blamed the ‘volume decline’ of Bud Light for the drop in revenue in its second quarter – with figures showing that total US revenue dropped by 10.5 percent in the April-to-June period compared to a year earlier.
The world’s largest brewer said Thursday that sales to US retailers had plunged 14 percent, adding that it had been ‘underperforming the industry.’ This was a direct result of the tie-in with Mulvaney.
For the second quarter of 2022, Anheuser Busch sold $2.73 billion worth of beer to retailers. But for the second quarter of 2023, sales dropped to $2.35 billion – a slump of $390 million in a year.