A boycott on Bud Light, the top beer brand in the United States,[1] began in April 2023. The boycott began in response to a social media promotion the company conducted with actress and TikTok personality Dylan Mulvaney, a transgender woman.[2][3]
On April 1, as part of a larger campaign to address Bud Light's decline in sales and attract younger audiences,[1][4] Mulvaney promoted the company's Bud Light beer brand in a short video on her Instagram account during March Madness.[5] The video triggered a backlash from American conservatives, including singer Kid Rock, who helped instigate a boycott against Bud Light and Anheuser-Busch more broadly.[4][6][7] Proponents of the boycott described the sponsorship as "political" because it involved a transgender woman who had previously advocated for transgender rights.[8] Several media outlets, including the Los Angeles Times and NBC News, described the backlash as anti-trans.[4][9]
In the month following the advertisement, Bud Light's sales fell between 11 and 26%,[10][11][12] while Anheuser-Busch's sales fell about 1%.[13][14] In May 2023, AB InBev's stock price fell 20%, enough for it to be classified as a bear stock by Forbes. HSBC Securities downgraded its rating on the company from 'Buy' to 'Hold'.[15][16] CNBC estimated that in May AB InBev's sales fell 18%.[17] In May 2023, Bud Light lost its status as the top-selling beer in the United States—a spot it had held for 20 years—to Modelo Especial.[18][19]
^ abJennifer Maloney (May 21, 2023). "How Bud Light Blew It". The Wall Street Journal. ISSN 0099-9660. Wikidata Q118563641. Retrieved May 23, 2023.
^"Dylan Mulvaney Speaks Out Following Bud Light Ad Controversy". Archived from the original on May 8, 2023. Retrieved May 8, 2023.
^"Dylan Mulvaney is back on social media amid anti-trans backlash to Bud Light partnership". Los Angeles Times. April 28, 2023. Archived from the original on May 8, 2023. Retrieved May 8, 2023.
^ abc"Anti-trans backlash against Bud Light has executives on the hot seat. What's going on?". Los Angeles Times. April 25, 2023. Archived from the original on April 27, 2023. Retrieved April 27, 2023.
^Stewart, Emily (April 12, 2023). "The Bud Light boycott, explained as much as is possible". Vox. Archived from the original on April 26, 2023. Retrieved April 27, 2023.
^Cite error: The named reference NYT April 25, 2023 was invoked but never defined (see the help page).
^Kaufman, Gil (April 12, 2023). "Watch Stephen Colbert Blast Kid Rock's Anti-Bud Light Stance With 'Shaft Beer' Parody". Billboard. Archived from the original on April 12, 2023. Retrieved April 13, 2023.
^Cite error: The named reference political was invoked but never defined (see the help page).
^Cite error: The named reference NBC anti-trans was invoked but never defined (see the help page).
^Bary, Andrew. "Bud Light Sales Fall 26% as Transgender Backlash Worsens". Barron's. Archived from the original on May 1, 2023. Retrieved May 1, 2023.
^Phillips, Aleks (May 2, 2023). "Bud Light sales drop again, sparking boycotter celebrations". Newsweek. Archived from the original on May 10, 2023. Retrieved May 7, 2023.
^Valinsky, Jordan (April 26, 2023). "Bud Light sales are falling, but distributors say they're sticking by the brand | CNN Business". CNN. Archived from the original on May 8, 2023. Retrieved May 7, 2023.
^Mayer, Grace. "What boycott? Bud Light controversy led to only a 1% drop in global sales volume, CEO says". Business Insider. Archived from the original on May 10, 2023. Retrieved May 7, 2023.
^"Anheuser-Busch InBev/NV (BUD) Q1 2023 Earnings Call Transcript". Motley Fool Transcribing. May 4, 2023. Archived from the original on May 12, 2023. Retrieved May 7, 2023.
^O'Halloran, Suzanne (May 31, 2023). "Bud Light parent Anheuser-Busch sees $27 billion gone, shares near bear market". Fox Business. Retrieved June 2, 2023.
^Berk, Christina Cheddar (June 3, 2023). "Boycotts hit stocks hard. Here's what might be next for Bud, Target and others caught in the anti-Pride backlash". CNBC. Retrieved June 4, 2023.
^Moreno, J. Edward (July 23, 2023). "How a Mexican Lager Quietly Rose to Become America's Best-Selling Beer". The New York Times. Retrieved August 3, 2023.
^Jennifer Maloney (June 14, 2023). "Bud Light Loses Title as Top-Selling U.S. Beer". The Wall Street Journal. ISSN 0099-9660. Wikidata Q119496973. Retrieved June 14, 2023.
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