Bud Light parent company says US market share stabilizing after transgender promotion cost sales

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Anheuser-Busch InBev reported a 10.5% drop in U.S. revenue in the second quarter as Bud Light sales plunged amid a conservative backlash over a promotion with transgender influencer Dylan Mulvaney.

Bud Light's parent company expressed confidence Thursday that its U.S. market share has stabilized after a promotion with a transgender influencer cost it sales.Bud Light sales plunged

The company said its total U.S. market share for all brands fell more than 5% to 36.9% in April, but then remained stable from the end of April through the end of June. Some of the company's brands, like Busch Lite and Michelob Ultra, have gained U.S. market share.after more than two decades, slipping into second place behind Mexican lager Modelo Especial. InBev also owns Modelo, but in the U.S. the brand is imported and sold by Constellation Brands.

InBev CEO Michel Doukeris said Thursday during an earnings call that the company plans to provide financial support to U.S. wholesalers through the end of December to make up for lost Bud Light sales. But he also said internal polling shows that 80% of U.S. consumers remain favorable or neutral toward the brand.

 

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