Bud Light Boycott Gaining Momentum; Anheuser-Busch Sheds $3 Billion In Market Value After Debacle

Following its association with a transgender personality, Anheuser-Busch, the parent company of Bud Light, has lost $3 billion in market capitalization.

The beer conglomerate, which was valued at $132 billion on March 31st, announced on April 1st that it would partner with trans activist Dylan Mulvaney, leading to a swift backlash from artists like Kid Rock, Travis Tritt, and John Rich in the country music industry.

As per the Daily Mail, Anheuser-Busch’s share price slipped to $64.96 on Tuesday, wiping out $3 billion from the company’s value.

Despite the adverse impact, Anheuser-Busch remains committed to its partnership with Mulvaney, citing that it works with hundreds of influencers across its brands to connect authentically with audiences across various demographics and passion points.

Anheuser-Busch distributors have been placing fewer orders in response to the controversy, and consumers across the U.S. have revolted against Bud Light, according to bar owners and beer-industry experts.

Jeff Fitter, owner of Case & Bucks, a restaurant and sports bar in Barnhart, Missouri, said that Bud Light sales have plunged as a result of the effort to be more inclusive, with sales of bottled products dropping 30% and draft beer decreasing 50% in the last seven days.

Explaining how the consumer is still in charge, he said, “In Bud Light’s effort to be inclusive, they excluded almost everybody else, including their traditional audience.”

The move to partner with Mulvaney was criticized by national beer-industry analysts who believe that it was a bad decision that opposed virtually every rule in building brands and marketing. In Texas, where Bud Light sponsored a weekly dart league drawing over a hundred players every Thursday, this week, the bar sold only four bottles of Bud Light compared to the usual three kegs of beer.

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Joseph Curl is a veteran political reporter. Contact him at [email protected] and connect with him on Twitter @josephcurl.