Bud Light’s Dylan Mulvaney fiasco cost Anheuser-Busch more than $1B in sales last year
Bud Light-parent Anheuser-Busch InBev may have lost more than $1 billion in sales because of its ill-fated advertisement featuring transgender influencer Dylan Mulvaney.
In North America, organic revenue — seen as the best measure of operating performance — nosedived a staggering $1.4 billion in 2023, “primarily due to the volume declined of Bud Light,” according to CNN, citing the brewer’s fourth-quarter earnings report.
Global volumes declined 4% in the quarter, though in North America, they fell more than 15% in the last three months of 2023 compared to the year-ago period as the boycott against Bud Light persisted.
A huge share of Bud Light’s consumer base stopped buying the once-most popular brew in early April 2023 — when Mulvaney shared an Instagram post of a custom Bud Light can Anheuser-Busch sent her to celebrate “365 Days of Girlhood.”
Subsequent posts were of Mulvaney cracking open a can of Bud Light in honor of March Madness.
The boycott also hurt the 65,000 employees and Anheuser-Busch distributors, who were thrust to the front lines of the backlash, including being mocked and threatened with car horns, cursing, and a declining income as cases of unsold Bud Light expired on liquor store shelves.
Still, the world’s largest brewer — which is also behind Budweiser, Corona, and Stella Artois — turned a profit in 2023 despite the fact that its “full growth potential was constrained” by its US business.
Fourth quarter revenue rose 6% to $14.5 billion, the company said Thursday — lower than the $15.5 billion analysts were expecting.
AB InBev CEO Michel Doukeris called the earnings results “a testament to the strength of the beer category, resilience of our business and people, consistent execution of our replicable growth drivers, and our unwavering commitment to invest for long-term growth and value creation.”
Representatives for Anheuser-Busch and its Belgium-based corporate parent, AB InBev, did not immediately respond to The Post’s request for comment.
After outraging conservatives over its disastrous campaign with Mulvaney, Bud Light has since announced that it will partner with comedian Shane Gillis, whose been known to show off his impressive Donald Trump impression during his sets.
The influx of conservative backlash against Bud Light dethroned the beer from its longtime best-selling spot.
Mexican lager Modelo Especial has since made “remarkable growth,” gaining more market share than any other beer brand in the US over the summer, according to consumer behavior advisor Circana.
As a result, Modelo-parent Constellation Brands raised its fiscal year 2023 earnings forecast to the high end of its previous guidance.
The alt-right CEO of “woke-free” beer brand Conservative Dad, Seth Weathers, has also said that he’s looking to capitalize on Bud Light’s demise.
“Conservatives want options for companies that truly support their values,” Weathers told Fox Business earlier this month.
“Conservative Dad’s Ultra Right Beer will proudly continue to be that option!” added Weathers, whose company has openly supported Trump throughout his 2024 presidential campaign, even launching a limited edition beer can that featured his mugshot.
The company donated 10% of sales generated from the can with Trump’s mug on it to the Georgia Republican Party and the David Shafer Legal Defense Fund “to defend Georgia’s Trump electors against unjust political prosecution.”
Ultra Right also teamed up with Riley Gaines, a women’s sports activist, for a campaign that involved selling the “Real Women of America” 2024 Calendar and raising thousands of dollars for her center to protect women’s sports.
