“Go Woke, Go Broke!” Bud Light’s Parent Co. Loses $6 Billion in Six Days Following Trans Backlash
Bud Light’s decision to team with trans activist and comic Dylan Mulvaney appears to be getting worse by the day with news the brewer’s parent company, Anheuser-Busch InBev, has lost $A6 billion in market capitalisation in just six days as customers continue a boycott of the brand.
Bud Light is America’s biggest selling beer, with 14 per cent of the overall beer market.
Earlier this month, Bud Light entered into a partnership with Mulvaney, 27, who is currently on hormones to transition to a woman. The promotion included a $15,000 prize and a personalised beer can with Mulvaney’s face and a message on the top reading “Cheers to 365 Days of Being a Woman”, to commemorate a year since she began her gender transition.
The tie-in saw an immediate backlash from Bud drinkers who boycotted the brew, leading to sales in heartland areas such as the Midwest, the South, and rural areas of the US to fall to virtually zero. Sales across the board are down 70 per cent.
At the time, Bud Light’s vice president, Alissa Heinerscheid, defended the brand using Mulvaney saying the marketing was vital to attract female and younger drinkers otherwise “there will be no future for Bud Light”.
As the market closed yesterday, the Belgium-based Anheuser-Busch InBev’s stock was trading at roughly $63, a more than five percent decrease in its total share value. Currently at $US125.73 billion, the company’s market capitalisation six days ago stood at $US132.38 billion.
And it appears the brewers’ top brass are fast distancing themselves from the marketing disaster amid claims “no one at a senior level” was aware of the partnership that has dominated headlines.
According to media reports in the US, the decision to use Mulvaney was taken by a “low-level marketing staffer”.
However, that does appear to contradict Heinerscheid’s earlier comments, the VP boasting that she wanted to trade Bud’s “fratty” reputation for “inclusivity”.
Last week, Anheuser-Busch InBev issued a statement that suggested the C-suite had approved the decision to use Mulvaney.
The statement read: “Anheuser-Busch works with hundreds of influencers across our brands as one of many ways to authentically connect with audiences across various demographics,’ the rep said in a statement shared with several outlets last week.
It added: “From time to time, we produce unique commemorative cans for fans and for brand influencers, like Mulvaney. This commemorative can was a gift to celebrate a personal milestone and is not for sale to the general public.”
An outspoken critic of the Bud Light decision has been conservative commentator and Fox News contributor, Marc Thiessen.
In recent days, Thiessen has publicly lambasted Heinerscheid, calling her “a beer salesman… The job of a marketing manager at Budweiser is to sell Budweiser.”
Thiessen noted that diversity, equity and inclusion (DEI) management is now the second-fastest growing job in America, according to LinkedIn.
“That means that every major company in America is hiring a political commissar whose job is to promote inclusivity and push down the people who would say, ‘this might be a dumb idea,’” Thiessen added.
He argued that many young people were now taking corporate diversity, equity and inclusion roles because they wanted to do social justice work while still pocketing a large corporate salary.
“They don’t want social justice organisation salaries,” he said. “Quit your job, take a pay cut and go work for social justice if that’s what you want. Otherwise, sell beer.”
Latest News
‘A Very Rare Breed Of Creative’ – Clemenger BBDO hires Chief Creative Officer
B&T's chatting with Clems boss Dani Bassil on Adrián Flores CCO appointment. We never got to Italian or Thai herbs.
Concrete Playground Debuts Innovative Urban Exploration Platform With Lexus As Launch Partner
Concrete Playground announced the launch of its redesigned website in partnership with Lexus. This partnership introduces a new era of urban discovery, enabling a deeper, more intuitive engagement with cities through a state-of-the-art digital platform. Revolutionised Digital Experience Concrete Playground’s website has undergone a significant transformation, designed to enhance the way users interact with their […]
Mindshare And The Brand Agency Take Top April’s New Business Rankings
Which agencies soared like an eagle for the month of April? As in stellar performance, not Eddie the hapless ski jumper.
Suntory BOSS Coffee Fuels Ambition With New Campaign From It’s Friday
Does your workplace have a strict, policed illegal drug policy? Then Suntory BOSS Coffee will have to do.
Resolution Digital Wins MyPlates Media Account
The best thing about personalised number plates is it makes spotting wankers on the road far easier. And drug kingpins.
Debunking The “Three Year Lie”: A New Approach To Retail Digital Strategy
This columnist says it's wrong to claim digital always has a three-year pay off. Has no opinion on the seven-year itch.
TV Ratings (06/05/2024): The Farmer Is Back And He Wants A Wife
It was a good night for lovers of farming and love.
The Growth Distillery Unveils The New Rules Of Influence
The New Rules Of Influence has arrived. And there appears to be no "difficult second album" syndrome here.
Whittaker’s Launch New Brand Platform, ‘Hello Chocolate Lovers’ Via Bastion Shine
New Zealand chocolate brand continues its insidious march into the Aussie market. Much like New Zealanders themselves.
Tyro Shows They Are ‘Into Business Big Time’ With New Brand Campaign Via Howatson+Company
Think finance isn't funny? Think again with this fun work. Yes, it still applies to funeral homes & Clive Palmer ads.
IAB Study Finds 66% Of Advertisers Have Five Or Less Years Experience With Affiliate & Partnership Marketing
Study finds advertisers & agencies not overly experienced with affiliate marketing. The opposite to networking drinks.
Optus Names NBN boss Stephen Rue As New CEO
In what would've been a delicious irony, alas this Optus news didn't get leaked in a major security beach.
Indy Enigma Delivers Signage For NSW’S First Purpose-built Surf Park
Is the fear of shark attack holding you back from a professional surfing career? This new surf park could be the ticket.
Houston Ramps Up Creative Capability, Appoints Two Senior Creatives
Houston - we don't have a problem! Well, not anymore with the appointment of these other-worldly recruits.
JCDecaux Secures All Major Bus Advertising Contracts Across Sydney
Do you like your ads to arrive 25 minutes later than scheduled? JCDecaux now boasts Transport for NSW's bus ad contract.
CommBank Launches The Brighter Side TV On 10 And 10 Play
Commbank teams with 10 for a new financial literacy program. Pensioners and the unemployed are advised not to watch.
IMAA Announces Next Female Leaders Of Tomorrow Programme
Here's a top initiative by the IMAA that B&T's proud to get behind. Unlike the 20 hotdogs in 20 minutes challenge.
Fast 10: Avid Collective’s Luke Spano On Building Deeper Relationships With Local Publishers & Advertisers
Avid Collective's Luke Spano takes on B&T's fast 10 questions. Well, 11 if you include "did you have a nice weekend?"
QMS Boosts NSW Billboard Network With Australian Turf Club Agreement
The QMS team seemingly now the ones to ask for a hot tip at Rosehill after partnering with the Australian Turf Club.
VMO Signs Deal With Stockland Shopping Centres
Often visit Stockland malls only to forget the very reason you came in the first place? Let VMO give you a gentle prod.
Day Management Appoints Paramount’s Tim Wall As Head Of Talent And Publicity
Paramount's Tim Wall exits the TV business after 12 years. Confesses the Rove years were the most taxing.
Poppet’s Postive Party Celebrates First Birthday At New HQ
Think first birthdays and fairy bread and dirty nappies spring to mind. Not to say it didn't happen at this one either.
Enjoy A Hahn Solo… And May The Fourth Be With You
If anything, this campaign does beg the question - at what age does Star Wars cut off as a cultural phenomenon?
DMARGE Founder Unveils Creator-Led Social Media Agency Feedstar
New creator-led social media agency Feedstar to be aimed directly at Gen Zs. Well, they'd hardly want print, would they?
TV Ratings (02/05/2024): A total of 1,753,000 Aussies Witness Port Adelaide’s Defeat
Seven's AFL numbers almost double that of the NRL last night. The NRL still easily winning for ruptured ACLs.
Hotglue Cashes In With La Trobe Financial Digital Media Account
Hotglue staffers learning their cashflows from their collaterals today after nabbing La Trobe Financial's digital media.
M&C Saatchi’s Sydney Creative Lead Exits
B&T's stopping short of calling it a revolving door at M&C at the present, but there's definitely heat on the hinges.
Taylor Swift’s Music Re-Enters TikTok As Universal Pens Landmark Deal
Yes, B&T may have spent 152 hours failing to get Taylor Swift tickets, but, as you'll read here, it's all behind us now.
HAVAS Red launches inaugural Influencer White Paper
Havas Red has debuted its first influencer white paper. Unless you print it out in colour, of course.
Two Sides Global Campaign Reports Increasing Greenwashing As Organisations Focus On Sustainability
New report confirms greenwashing's on the rise. Apparently Mars' 'work, rest & play' claims also under investigation.
Aruga Launches New HQ & Changed Ownership Structure
PR agency Aruga proves Brisbane is 'so hot right now'. So hot in fact, Adelaide's had to go on anti-anxiety meds.
Delicious & American Express Partner To Launch Month Out 2024 In Sydney
Cost of living got you eating noodles prepared in the two-minute style? Why not live vicariously through this.
Aussie Ad Market Continues Decline In March
The belt-tightening in adland shows signs of a turnaround soon. Bar the belt-loosening at the all-you-can-eat buffet.
VMA Focuses On Skills And Training For Members
If there was a post-COVID hangover (bar the anti-vax ranters) it was the rise in skills shortages. Here's another one.
Nearly 90% Of Consumers Want Transparency About AI Images, Finds Getty Images Report
Study finds consumers want transparency around AI images. Couldn't care less about photoshopped magazine covers.
The National Breast Cancer Foundation Partners With VML To Boost Funds
Anyone else feel we've exhausted the office morning tea for cancer? B&T proposes the office moonshine still instead.
this is bloody hilarious………….. to accomodate the 1%ers the marketing company comes up with this hip/cool/on trend campaign, (so they think) and company lose $6B …….beware the “silent majority”….. lol….and Amen to you Thiessen.