Personally, I can dig Miller Lite.
Molson Coors, the umbrella company of Bud Light rivals Miller Lite and Coors Light, put up its single best quarter of revenue since 2005, when Canadian-based Molson and U.S. giant Miller Brewing Company merged.
The news comes amid the boycotts and backlash that has been slamming Bud Light’s parent company Anheuser-Busch for months now after their disastrous partnership with transgender influencer Dylan Mulvaney.
A-B’s rival, Molson Coors, announced their two biggest brands outsold Bud Light in the second quarter by 50%.
Molson Coors also pointed out their combined sales of Miller Lite and Coors Light are outselling Modelo Especial by 30%. Modelo is currently the No. 2 top-selling beer in the United States.
The Daily Caller reported Monday how Modelo Especial is expected to top Bud Light for the No. 1 spot by mid-August.
Sales of Miller Lite, Coors Light crush Bud Light after Dylan Mulvaney fiasco https://t.co/ToT8pjsDqR pic.twitter.com/hAiHLPBXWe
— New York Post (@nypost) August 1, 2023
Here’s some other interesting numbers from Molson Coors:
- Second quarter net income is $342 million, up $47 million from last year
- Sales have increased by 11.8% to a total of $3.3 billion
- Stock is up over 33% in the past 12 months
This is insane, man.
Not only are we seeing an historic collapse for a beer brand like Bud Light (and Budweiser at that), but we’re also seeing an historic upswing for brands such as Modelo Especial, Miller Lite and Coors Light. It truly is incredible to witness, and if you’re interested in business and marketing wars like I am, I know you’re flabbergasted. (RELATED: REPORT: Distributors Giving Up On Bud Light As They No Longer Expect Beer Giant To Recover From Dylan Mulvaney Fiasco)
Soak it in, ladies and gentlemen. It truly is remarkable what we’re seeing.