Whew! The parent company of the alcoholic beverage Bud Light Beer has seen a huge loss in value following news of its partnership with transgender influencer Dylan Mulvaney. The 26-year-old, who infuriated women earlier this month when it was announced she had also signed a deal with Nike to promote workout apparel such as sports bras, is now being blamed for the $5 billion slump Anheuser-Busch has seen this week.
Per the Dow Jones Market Data Group, the company was down 4.7 percent, decreasing its value from $132 billion to $127 billion in market cap. Shortly after the news that Mulvaney had partnered with the brewing firm, which is headquartered in St. Louis, Missouri, the maker’s stock already dropped more than 1.5 percent hours after the campaign went public. Social media users have since taken to multiple different platforms, sharing their anger and frustration about the deal with Mulvaney, saying they were going to boycott drinking Bud Light beer.
— KidRock (@KidRock) April 4, 2023
Rock star Kid Rock was perhaps one of the most famous names who expressed his disapproval of the partnership after he posted a video of himself shooting at Bud Light cases for target practice. “Let me say something to all of you and be as clear and concise as possible,” before shooting at the cases and saying, “F*** Bud Light, and f*** Anheuser-Busch.” Country singer Travis Tritt said that Anheusr-Busch drinks would no longer be served at any of his concerts.
Per Beer Business Daily, sales had taken a drastic hit since Mulvaney was brought on board as Bud Light’s latest influence to endorse its products. “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,” the report revealed.
“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.”
For too long, the advertising industry has been dominated by a narrow set of standards and ideals, and this has left many individuals feeling excluded and marginalized, people of the LGBTQ+ community argued on Twitter.
By choosing a transgender spokesperson, Bud Light Beer has shown that they are committed to breaking down some of these barriers and promoting diversity and inclusion.
One person on Twitter said that this is important because advertising has a significant impact on the way that people perceive themselves and others. When advertisers include a diverse range of individuals in their campaigns, it sends a message that everyone is valued and celebrated.
Bud Light Beer is not the only company that has made strides in LGBTQ+ representation. Many other companies have recognized the importance of diversity and inclusion in their advertising, and they have taken steps to promote these values.
For example, Apple has been a leader in LGBTQ+ representation, featuring same-sex couples in their ads and supporting LGBTQ+ causes. Nike has also been a vocal advocate for diversity and inclusion, featuring transgender athletes in their campaigns and supporting LGBTQ+ organizations.