OAN Brooke Mallory
UPDATED 12:18 PM – Thursday, April 13, 2023
Anheuser-Busch, the owner of Bud Light, has lost a remarkable $5 billion (USD) in the few days following their collaboration with transgender actor and TikTok star Dylan Mulvaney.
It was revealed earlier this month that Anheuser-Busch sent packs of Bud Light beer with Mulvaney’s face printed on the cans as part of an endorsement deal for the company’s March Madness contest, and as a way to celebrate a full year since Mulvaney’s transition into what he calls “girlhood.”
Mulvaney is a trans activist and social media influencer who rose to fame after being interviewed by President Biden about LGBTQ+ issues in 2022. Mulvaney also starred in the notable Broadway musical “The Book of Mormon.”
As of Wednesday, the market capitalization of Anheuser-Busch has decreased by 4.7% and from $132.38 billion (USD) to $127.13 billion (USD), according to the Dow Jones Market Data Group.
Following the divisive ad, the stock of the beer manufacturer fell by more than 1.5% alone on Wednesday.
Many conservatives declared that they would be boycotting the beer brand on social media.
“Now the King of Beers is paying homage to the newest cultural zeitgeist by paying trans activist Dylan Mulvaney to prod grown men into dressing like Audrey Hepburn while drinking beer. For a drink that was once a blue-collar staple of middle America, this isn’t a winning sales strategy. It’s a way for the CEO to signal his virtue while alienating a customer base that is too afraid to say so out loud,” said Vivek Ramaswamy, a GOP presidential hopeful.
Musician Kid Rock, who shared a video of himself using Bud Light cases as shooting targets, was among those who were offended. Country music singers Travis Tritt and John Rich also announced that they would no longer be selling Anheuser-Busch products at their concerts or owned-bars. It appears that they kept their promise.
Beer Business Daily, a trade publication ran by Beernet, examined preliminary data which they acknowledged was “limited” at the time of publication, but discovered that sales had decreased almost immediately after the Mulvaney announcement.
The website’s ‘About us’ section reads: “Our vision of the beer world, our style and our whole philosophy are somewhat different from other trade publications. We focus on the United States commercial beer industry, while always keeping an eye on international brewing events to gauge their effect here. We stress the links between politics, personalities, law, and business. We are irreverent, and we are independent…”
Their report on the Mulvaney situation stated that, “By Thursday afternoon, we had reached out to a handful of [Anheuser-Busch] distributors who were spooked, most particularly in the Heartland and the South, and even then in their more rural areas.”
“With the very limited data from a handful of wholesalers, it appears likely Bud Light took a volume hit in some markets over the holiday weekend, particularly in rural areas, which consist of their higher share markets.”
Earlier this week, Mulvaney responded to detractors in an interview on the podcast “Onward with Rosie O’Donnell.”
Mulvaney told O’Donnell that “online trolls” frequently distort statements in an effort to harm and discredit the transgender community and show hatred for those who are different than them.
“The reason that I think I am so … I’m an easy target is because I’m so new to this. I think going after a trans woman that’s been doing this for like 20 years is a lot more difficult. I think maybe they think that there’s some sort of chance with me… But what is their goal?” Mulvaney said.
The 26-year-old claimed that they have no regrets about transitioning and serving as a spokeswoman for different brands and the transgender community, despite the hostility from others.
“Even with all the hate and controversy just because I’m trans, it’s still worth it because I wake up every day a little bit happier than I was the day before,” Mulvaney maintained.
Inquiries about Anheuser-Busch’s stock were not immediately answered by the corporation.
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