Anheuser-Busch links ‘volume decline of Bud Light’ to decreased sales in new report

Anheuser-Busch is still struggling to win back consumers regarding Bud Light, citing a “volume decline” in the drink to its sales.

The brewing company reported on Tuesday a 13.5% decline in its third-quarter United States revenue per 100 liters, which is a key measure used for beer sales. Anheuser-Busch InBev has also reported its sales to U.S. retailers going down by almost 17% “primarily due to the volume decline of Bud Light,” according to the report.

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The company’s third-quarter report is its second consecutive one with a decline this year, as its second-quarter report stated that its revenue fell by 10% in the U.S., while its sales in U.S. retailers went down by 14% when compared to 2022. As a whole, the brewing company reported a nearly $400 million loss in its second quarter.

Anheuser-Busch’s financial woes this year come after Bud Light, owned by the company, gave a can to transgender social media star Dylan Mulvaney in late March, with the can featuring Mulvaney’s face. The partnership resulted in heavy backlash against Bud Light and its parent company from conservatives, some of whom called for a boycott of the drink.

In July, Anheuser-Busch announced it was laying off about 350 employees, less than 2% of its workforce. The company’s chief executive, Brendan Whitworth, said it did not take the layoffs lightly but wanted to ensure the company “continues to be set for future long-term success,”

Likewise, the ad firm linked to the partnership between Anheuser-Busch and Mulvaney also laid off some of its workforce.

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Amid Bud Light’s underwhelming year, the drink reached a reported nine-figure sponsorship deal with the Ultimate Fighting Championship, which will last for six years. UFC President Dana White has defended the company’s decision to partner with Bud Light, citing “all the good things” that the beer brand’s parent company has done.

“And I know people were upset with what they did, but I’m looking at all the good things they do,” White said. “You know, they employ 65,000 Americans. They have thousands of vets that work for them. They spent $700 million a year with U.S. farmers using their crops to make their products, and many, many, other great things that Anheuser-Busch had done in this country.”