Following a controversial TikTok video by US comedian Megan Mulvaney, AB InBev, the parent company of Bud Light, saw a decline in its US revenues. The video featured Mulvaney pouring Bud Light down the drain and declaring it the worst beer she had ever tasted. Kid Rock, the musician, took it a step further by filming himself destroying cases of Bud Light with a machine gun and expressing his outrage towards the brand. Even Tucker Carlson, a conservative TV anchor, voiced his disapproval and wished for the bankruptcy of Bud Light.
However, despite this setback, AB InBev reported positive overall results for the second quarter. Revenues for their global brands, Budweiser, Stella Artois, and Corona, increased by 18.4% outside of their home markets. The underlying profit reached $1.45bn, and although there was a slight decline in earnings per share, the company’s chief executive, Michel Doukeris, emphasized their commitment to long-term growth and strategic investments.
In response to the negative publicity caused by Mulvaney’s video, AB InBev conducted a survey with 170,000 customers, finding that 80% had favorable or neutral views on the Bud Light brand. Despite the controversy, the company remains confident in its products and continues to focus on its profitable growth.
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