'People Are So Silly': Joe Rogan Drinks Bud Light, Blasts Boycott Over Dylan Mulvaney During Podcast — Could This Be A Turning Point For The Battered Beer Brand?

Bud Light received mixed reactions after partnering with transgender social media influencer Dylan Mulvaney in April. But renowned podcaster and comedian Joe Rogan still enjoys the brew. 

In a recent episode of "The Joe Rogan Experience" podcast, he cracked open a can of Bud Light with country music star Zach Bryan.

"And we're drinking Bud Lights, ladies and gentlemen. Sorry. There's nothing wrong with it," Rogan said. "People are so silly. We were just talking about silliness. One person made a really stupid decision, and now everybody's decided that Bud Light is the enemy. But that's like this thing that people do in America, where they just decide, ‘Now I hate these people. These people are the enemy.'"

Bryan was on the same page as Rogan.

"I've drank Budweiser and Bud Light for, like, my entire adult life," he told Rogan. "And then on Twitter, I defended my sister's spouse, and people were like — people were pissed … and I was like, I didn't mean to do this. It was crazy."

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Fighting An Uphill Battle

It's no secret that Bud Light has lost market share.

While Mulvaney has 10.7 million followers on TikTok, the collaboration triggered a backlash on social media and led to a boycott by some beer drinkers.

According to consulting company Bump Williams, using data from NielsenIQ, Bud Light is no longer America's best-selling beer. The top spot now belongs to Modelo Especial, distributed in the U.S. by Constellation Brands Inc. STZ.

Shares of Anheuser-Busch InBev BUD, the multinational brewing company behind Bud Light, have also taken a hit. Since April 1, when Mulvaney first promoted the beer on social media, the New York Stock Exchange-listed BUD stock has tumbled about 15%, resulting in the loss of billions of dollars of market cap.

A Revival On The Horizon?

Investors have a reason to be concerned. According to Anheuser-Busch's latest earnings report, the company's U.S. revenue fell 10.5% year over year in the second quarter of 2023.

In the first half of this year, Anheuser-Busch's sales to wholesalers in the U.S. decreased by 8.5%, while sales to retailers dropped by 9.2%. The company said that its underperformance in the industry was "primarily due to the volume decline of Bud Light."

But it's not all bad news. In the second quarter, the beer company's global revenue actually increased 7.2% year over year. 

In the earnings conference call, Anheuser-Busch's CEO Michel Doukeris said that the company has "actively engaged with over 17,000 consumers since April" and highlighted the key takeaways from the survey.

"First, most consumers surveyed are favorable towards the Bud Light brand, and approximately 80% are favorable or neutral," he said.

"Second, regardless of favorability, our consumers across all sentiment groups have three points of feedback in common. One, they want to enjoy their beer without a debate. Two, they want Bud Light to focus on beer. Three, they want Bud Light to concentrate on the platforms that all consumers love, such as NFL, Folds of Honor and music."

Doukeris added that while the company's market share in the U.S. declined in the second quarter, "it has been stable since the last week of April through the end of June."
The potential for a turnaround makes Anheuser-Busch an intriguing name to watch for investors. But if the roller coaster ride of stock prices feels unsettling, you might want to look into reliable income plays outside the stock market — such as investing in rental properties with as little as $100 while staying completely hands-off.

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Image source: Screenshot from The Joe Rogan Experience on YouTube