Posted 2/29/2024, 12:06:00 PM
Bud Light Sales Plunge over $1B after Transgender Sponsorship Backlash, Losing Top Beer Spot
- Anheuser-Busch InBev may have lost up to $1.4 billion in Bud Light sales due to backlash over transgender sponsorship
- Organic revenue in North America plunged $1.4 billion in 2022, primarily due to Bud Light boycott
- Bud Light was dethroned as America's top-selling beer by Modelo Especial after backlash
- Shareholders reached tentative deal with Teamsters union, averting strike of 5,000 workers
- Asia business saw profits decline due to one-off customs charge in South Korea and falling sales volumes in China