We can safely say Anheuser-Busch’s advertising campaign starring Dylan Mulvaney has been a marketing disaster for Bud Light.
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More than that, it’s proven to be a financial disaster for the company — with the beer-maker seemingly alienating both those who are for and those against the decision to team up with the transgender influencer.
The most recent evidence of all that comes this week, when Anheuser-Busch stock dropped by 5 percent, as relayed by the New York Post. Five percent may sound minuscule, but in the world of popular beer, it’s a massive deal. Since Bud Light began, the stock has been on the rise. Until now.
Overall, the company has lost an eye-popping $27 billion in market value since bringing on Mulvaney, the Post noted.
Mulvaney, 26, began work promoting Bud Light back in April, when Mulvaney shared a photo of a personalized beer can to celebrate “365 Days of Girlhood.”
That prompted a nationwide boycott of Bud Light and other beers distributed by Anheuser-Busch. For six straight weeks, sales have plunged to record-setting levels.
Along with those opposed to Mulvaney as a Bud Light spokesperson, members of the LGBTQIA+ community have accused Anheuser-Busch of not supporting Mulvaney through the backlash.
Bud Light had been America’s No. 1 beer for decades. But sales dropped 25.7 percent last week alone, the Post reported. That followed a week in which sales decreased by 24.6 percent. So based on those numbers, things are only getting worse.
Not surprisingly, reports suggest that Anheuser-Busch intends to slowly but surely distance itself from Mulvaney. But at this point, financial recovery is likely to take a while regardless.
As an aside, Anheuser-Busch recently parted ways with the marketing firm that recommended using Mulvaney. Along with that, a gay bar in Chicago stopped selling Bud Light for distancing itself from the transgender star.
For the world’s top beer maker, it seems there is no winning these days. Only degrees of losing.
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