OPINION | This article contains the author's opinion.
According to the report, Anheuser-Busch saw a $1.4 billion revenue plunge in North America last year, primarily due to tumbling Bud Light sales in the U.S.
This followed the company’s partnership with transgender sponsor Dylan Mulvaney in 2023, which sparked an anti-trans backlash and consumer boycott.
“In the U.S., performance remains very underwhelming with revenue down at double-digit rates as the group lost market share,” equity analyst Aarin Chiekrie said.
As a result, Bud Light lost its long-held spot as America’s top beer brand.
Critics noted that targeting the product to demographic groups with little interest in the beer has drastically harmed sales among loyal, mainstream consumers.
Many have claimed that apologies are needed to regain those customers, and that transgender figures do not effectively represent brands to most people.