ABInBev Reports U.S. Revenue Decline in Second Quarter of 2020, Bud Light Slips to Second Place

Anheuser-Busch InBev, the world’s largest brewer, reported a drop in U.S. revenue in the second quarter of 2020 due to a decline in Bud Light sales. This marks the first time in over two decades that Bud Light has not been America’s best-selling beer, slipping into second place behind Mexican lager Modelo Especial, which is also owned by ABInBev.

The company attributed the 10.5% decline in revenue to the volume decline of Bud Light, which has faced backlash over a campaign with transgender influencer Dylan Mulvaney. Mulvaney posted a commemorative Bud Light can to her millions of social media followers, sparking a conservative backlash.

ABInBev’s second quarter results also showed a drop in revenue in other markets, including Europe and Latin America. The company’s net revenue was down 4.7% in the quarter, while its net profit fell by 28.5%.

The company has been attempting to boost sales by launching new products, such as Bud Light Seltzer and Bud Light Lemonade, as well as expanding its non-alcoholic portfolio. It has also been investing in marketing campaigns to increase brand awareness and loyalty.

Despite the decline in sales, ABInBev remains optimistic about the future. The company is confident that it can continue to grow its market share and remain competitive in the beer industry.