The parent company of Anheuser-Busch is struggling in the wake of its Bud Light marketing controversy surrounding the Dylan Mulvaney influencer campaign. The question for the company is: Can the Bud Light brand make it? In this clip, Trish Regan sits down with one of AB Inbev’s former top executives, Ansel Fredericks, to discuss ‘what went wrong’ and whether the company can recover. Continued below the vid
Fredericks says there was a cultural shift at InBev that happened several years ago that caused the company to lose its focus. AB Inbev’s second quarterly sales numbers showed that US revenue fell 10% in the latest quarter with sales to U.S. retailers declining some 14%. Revenue declined by $395 million compared with the same time last year.
Bud light commercial. 👍👇 pic.twitter.com/ljfAsxxZ1T
— Symphony (@Symph0ny3) August 1, 2023
Dylan Mulvaney appears to be capitalizing on his infamy after his ill-fated Bud Light partnership. Mulvaney is now charging almost double for public speaking from charging $26,000 before the Bud Light scandal to now upwards of $40,000. The Tiktoker now charges $40,000 to speak at colleges and universities including speaking on the topic of ‘women’s empowerment.’ Oli London
🚨RIP BUD LIGHT
Distributors believe BUD LIGHT WILL NEVER RECOVER from the DYLAN MULVANEY DISASTER…
THE BOYCOTT WORKED.
— Shawn Farash ❌🐻 (@Shawn_Farash) August 3, 2023
Anheuser-Busch/Bud Light ($BUD) reported their quarterly earnings and it was awful. – Missed revenue by $300 million – Profit down 28.2% – Sales to retailers & wholesalers down 14-15% – Lost top beer spot in America – CEO refused to use the word ‘Boycott’ during 90 min call Grand Old Patriots