Bud Light tries for a comeback with a focus on sports and concerts
Publishing timestamp: 2023-10-31 16:28:47
Summary
Anheuser-Busch InBev plans to focus its marketing efforts on events like football and concerts in order to boost sales of Bud Light. The company aims to avoid political backlash, which has negatively impacted Bud Light sales. Despite declining sales, Anheuser-Busch InBev reported third-quarter earnings that beat expectations. The company's revenue in the US fell nearly 14% from July to September, with Bud Light sales dropping 29% in a four-week period. Anheuser-Busch InBev intends to promote Bud Light through uncontroversial platforms such as NFL, college football, and music festivals. The company has also changed its marketing structure to steer away from contentious debates. Despite weak sales, Anheuser-Busch InBev's revenue for the third quarter rose 5% from the previous year.
Sentiment: NEUTRAL
Tickers: ABI-BE,
Keywords: earnings, anheuser-busch inbev sa, food and drink, business, united states, business news,