Bud Light sales have remained flat more than a year after facing a conservative boycott due to its partnership with influencer Dylan Mulvaney. AB InBev reported overall global sales topping $14.5 billion, while U.S. sales declined 9.1% in the first quarter of 2024, with Bud Light sales specifically falling. Despite this, revenue increased by 2.6%, driven by sales of higher-priced products, although total worldwide beer volume declined by 1.3%.
The boycott stemmed from Mulvaney’s Instagram video promoting a Bud Light giveaway, leading to criticism and calls for a boycott from conservatives. As a result, Modelo Especial overtook Bud Light as the best-selling beer in the U.S., impacting AB InBev’s sales. The company, however, saw success with other brands like Michelob Ultra and Busch Light, as well as vodka seltzers and canned cocktails, which showed strong growth.
AB InBev’s marketing efforts extended to partnerships with the UFC and the Olympics, and their stock prices reached a high on the New York Stock Exchange. Analysts believe the company has weathered the storm of the Bud Light boycott, with CEO Michel Doukeris expressing excitement over the momentum of their brands. Despite the decline in Bud Light sales, the company has shown resilience in other markets like Brazil and South Africa. Ultimately, AB InBev remains optimistic about the future of their brands.
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