TAP - Bud Light Faces Brewing Storm In 2024 As Rival Gears Up For Super Bowl LVIII | Benzinga
Beer brand Bud Light has had an eventful 2023 with calls for boycotts against the company and declining sales.
While the company has lost market share to other beer brands, it could be in for more trouble in 2024 with a rival ready to go after one of its key demographics.
What Happened: Bud Light, which is owned by Anheuser-Busch InBev (NYSE: BUD), has been a staple in the National Football League market as the official beer of the league for over 20 years. The company is also a prominent Super Bowl advertiser each season.
The 2023 Super Bowl (Super Bowl LVII) saw Anheuser-Busch end its exclusive partnership with the league, opening the door for other beer brands to advertise during the big game.
Companies like Molson Coors Beverage Company (NYSE: TAP) and Diageo (NYSE: DEO) advertised in Super Bowl LVII alongside Anheuser-Busch InBev brands.
Coors Light, which is owned by Molson Coors, is among the first companies to announce that it will be advertising in Super Bowl LVIII.
According to AdAge, Coors Light plans to showcase at least one 2024 Super Bowl commercial that will air during the big game, set to be broadcast on Paramount Global Inc (NASDAQ: PARA)(NASDAQ: PARAA) owned CBS.
"Our decision to feature ...