Bud Light's brand seems to be taking fire from all sides, but Anheuser-Busch InBev (BUD) -- the parent company behind the Budweiser label -- doesn't plan on abandoning the brand anytime soon.
To the contrary, AB InBev plans to spend a lot more money bringing the beer's brand awareness to the masses.
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"As to Bud Light, we have significantly increased our investment behind the brand in the U.S., including tripling our media spend over the summer," CEO Michel Doukeris said on the company's recent earnings call.
The company will use funds it had previously allocated for other purposes to fund the marketing campaign that Anheuser-Busch says will be aligned with musical and sporting events.
Bud Light is still America's most popular beer, despite the drop in sales in the wake, but if things keep going the way they are the king may be dethroned sooner rather than later.
On Wednesday, analysts at HSBC downgraded Anheuser-Bush's stock to hold from buy, CNBC reported, with analyst Carlos Laboy saying that there are signs that there are "deeper problems" than the company is willing to admit.
Bud Light has taken arrows ever since it hired transgender influencer Dylan Mulvaney as a brand ambassador, and HSBC is baffled by the decision.
"If Budweiser and Bud Light are iconic American ideas that have long brought customers together, why did these marketers fail to invite new customers without alienating the core base of the firm's largest brand?" Laboy asked, according to the Daily Mail.
