Bud Light and other Anheuser-Busch-related beer properties have maintained social media silence since the start of their partnership with Dylan Mulvaney at the beginning of the month, and the New York Post reported this week that that particular marketing disaster has been costing them in value:
Beer Colossus Anheuser-Busch saw its value plummet more than $5 billion since the company announced its branding partnership with controversial transgender social media influencer Dylan Mulvaney.
Since March 31, shares of Bud Light’s parent company have fallen by nearly 4% — knocking down the company’s market capitalization from $132.38 billion to $127.13 billion on Wednesday.
Anheuser-Busch stock fizzled more than 1.5% on Wednesday.
Subsequent video showing Bud Light’s VP of marketing defending the Mulvaney branding effort only made things worse:
After a couple weeks of radio silence, the Anheuser-Busch CEO must have figured it was finally time to say something. The company has posted the statement on their website:
Here’s the whole statement:
As the CEO of a company founded in America’s heartland more than 165 years ago, I am responsible for ensuring every consumer feels proud of the beer we brew.
We’re honored to be part of the fabric of this country. Anheuser-Busch employs more than 18,000 people and our independent distributors employ an additional 47,000 valued colleagues. We have thousands of partners, millions of fans and a proud history supporting our communities, military, first responders, sports fans and hard-working Americans everywhere.
We never intended to be part of a discussion that divides people. We are in the business of bringing people together over a beer.
My time serving this country taught me the importance of accountability and the values upon which America was founded: freedom, hard work and respect for one another. As CEO of Anheuser-Busch, I am focused on building and protecting our remarkable history and heritage.
I care deeply about this country, this company, our brands and our partners. I spend much of my time traveling across America, listening to and learning from our customers, distributors and others.
Moving forward, I will continue to work tirelessly to bring great beers to consumers across our nation.
Brendan Whitworth
CEO, Anheuser-Busch
Matt Walsh doesn’t think that’s going to make anybody happy:
Yeah that statement’s probably not going to cut it for anybody.
Anybody want a beer to wash down that word salad with?
He tried. Sort of.
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