Kid Rock Caught Drinking Bud Light Months After Blasting Brand
Portfolio Pulse from Chris Katje
Kid Rock, who previously criticized and boycotted Bud Light, a brand of Anheuser-Busch InBev (BUD), was seen drinking the beer again. Bud Light has faced backlash and lost its title as the bestselling beer in the U.S. after partnering with transgender activist Dylan Mulvaney. Sales have fallen and consumers have switched to other brands like Modelo Especial, owned by Constellation Brands (STZ), which now leads the U.S. retail store beer sales market. Bud Light has also lost market share to brands owned by Molson Coors Beverage Company (TAP). BUD's Q2 results missed revenue estimates and volumes were down 1.4% YoY.
August 20, 2023 | 8:36 pm
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NEGATIVE IMPACT
Anheuser-Busch InBev's Bud Light brand has faced backlash and lost market share, impacting the company's revenues and stock price.
The controversy surrounding Bud Light and the subsequent boycott led by figures like Kid Rock has negatively impacted the brand's sales and market share. This has affected BUD's revenues and stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Constellation Brands' Modelo Especial has benefited from the backlash against Bud Light, becoming the market leader in U.S. retail store beer sales.
As consumers switch from Bud Light to other brands, Modelo Especial has gained market share, positively impacting STZ's revenues and stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Molson Coors Beverage Company has gained market share as consumers switch from Bud Light to other brands.
The backlash against Bud Light has benefited other beer brands, including those owned by TAP, leading to increased market share and a positive impact on the company's revenues and stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 60