Bud Light’s parent company said Thursday it will triple its marketing spending in the U.S. this summer as it tries to boost sales that plummeted after the brand partnered with a transgender influencer.
FILE - Bottles of Bud Light beer sit on a shelf at a grocery store on April 25, 2023, in Glenview, Ill. Bud Light's parent company said Thursday, May 4, that it will triple its marketing spending in the U.S. this summer as it tries to boost sales that plummeted after the brand partnered with a transgender influencer.
On April 1, transgender influencer Dylan Mulvaney posted a video of herself cracking open a Bud Light on her Instagram page. She showed off a can with her face on it that Bud Light sent her — one of many corporate freebies she gets and shares with her millions of followers. Doukeris didn't mention Mulvaney on Thursday's investor call but decried misinformation about the promotion. Cans featuring Mulvaney weren't made to be sold to the general public, for example.After several weeks of silence on social media, Mulvaney posted a video to her Instagram page this week thanking supporters but also not mentioning Bud Light by name.
InBev said Thursday its revenue increased 13% to $14 billion in the first quarter of this year. Global sales volumes were up 1% thanks to strong demand in Asia.
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