Kid Rock Is Drinking Bud Light Again After Machine Gun Fire, Rant, Boycott: 'I Think They Got The Message'
Portfolio Pulse from Chris Katje
Kid Rock ended his boycott of Bud Light, owned by Anheuser-Busch InBev (NYSE:BUD), after previously protesting the brand's marketing decisions. The boycott, which included other figures, led to a significant sales decline for Bud Light, causing it to lose its title as America's bestselling beer. Anheuser-Busch has since launched ad campaigns targeting various fan bases and secured a partnership with UFC, replacing Modelo, owned by Constellation Brands, Inc. (NYSE:STZ). UFC CEO Dana White endorsed Bud Light, aligning it with patriotic values. Anheuser-Busch's stock has recovered, trading at $63.30, up 6% year-to-date.
December 12, 2023 | 10:15 pm
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POSITIVE IMPACT
Kid Rock's termination of the Bud Light boycott and Anheuser-Busch's new marketing strategies and UFC partnership may contribute to the recovery of BUD's sales and image.
The end of a high-profile boycott and strategic partnerships/marketing could improve public perception and sales, potentially leading to a positive short-term impact on BUD's stock price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
TKO Group Holdings Inc. (TKO) gains exposure as UFC's new partnership with Bud Light highlights the sports league's growing influence and potential for attracting major sponsors.
The partnership with a major brand like Bud Light could reflect positively on TKO's UFC, suggesting strong brand value and sponsorship appeal, which might have a positive short-term impact on TKO's stock.
CONFIDENCE 65
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Constellation Brands, Inc. (STZ) may face increased competition as Bud Light, now partnered with UFC, aims to reclaim its market position.
Bud Light's aggressive marketing and new UFC partnership could challenge STZ's Modelo, which recently became America's bestselling beer, potentially negatively impacting STZ's market share.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70