Thanks To The Bud Light Controversy, Molson Coors Is Recording Historic Profits
As reported by CNN Business, a recent situation involving Bud Light has inadvertently benefited Molson Coors, the brand responsible for Coors and Miller Lite products. The controversy began when Anheuser-Busch, the maker of Bud Light, collaborated with Dylan Mulvaney, a transgender advocate and influencer. The move has enraged a number of Bud Light customers, who boycotted the beer company and turned their attention toward Molson Coors products. Speaking to Vox, one liquor store owner claimed that their Bud Light sales decreased by nearly 25% in the immediate aftermath.
While Bud Light dominated the U.S. beer market for decades, sales of Coors Light and Miller Lite beer were 50% higher than sales of Bud Light during the second financial quarter of the year, totaling $342 million in net income. It's estimated that Bud Light sales have decreased by approximately 20% each week since the boycott started, and this reduction could explain the recent corporate layoffs undertaken by Anheuser-Busch.
It's no secret that transphobia is fueling the Bud Light boycott. Numerous conservative celebrities and personalities have made pronouncements against the beer company, and Anheuser-Busch has even received bomb threats at some of its facilities. It should be noted that Coors has also been subject to protests in the past, albeit for participating in discriminatory practices that excluded certain individuals based on their sexual identity and background.
Coors has also experienced boycotts in the past
Coors is no stranger to controversy itself, as evidenced by a boycott launched against the beer company in 1973 involving legendary San Fransisco politician Harvey Milk. Many groups, including members of the LGBTQ community, participated in the boycott due to Coors' discriminatory practices when it came to hiring workers.
The International Brotherhood of Teamsters provides insight into some of these practices, focusing on a questionnaire the company used when vetting potential workers for employment. Within the questionnaire, candidates were asked if they were "homosexual," if so, they were no longer in the running for employment with Coors. As a result, gay bars throughout San Francisco refused to stock the beer, and some staff even took their existing stocks of Coors and poured them into the sewer in protest.
Coors continues to be dogged by rumors related to its supposed political affiliations. According to Pride at Work, the company has maintained links to "extreme right wing organizations" throughout the years and is affiliated with numerous "anti-union, anti-gay, racist, and sexist groups." While Coors is experiencing a revenue boost thanks to Bud Light's current controversy, many activists are highlighting the brand's questionable practices and requesting that consumers avoid Coors products.