Bud Light boycott likely cost Anheuser-Busch over $1 billion in lost sales

(CNN)– The world’s largest brewer likely lost more than $1 billion in sales because of the Bud Light boycott.

Anheuser-Busch reported record revenues for 2023 but said its U.S. business was hurt by backlash from its brief partnership with a transgender influencer.

Organic revenue plunged $1.4 billion last year. Most of that was from a drop in Bud Light sales.

But the company is optimistic for this year. Its beer market share in the U.S. has seen gradual improvement since May.