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Bud Light in one chart: A terrible, horrible, no good, very bad year

Bud Light, which was the most popular beer in the US less than two years ago, now sits in third place. 

The American beer brand took a big hit in April 2023, after it partnered with a transgender social media influencer, Dylan Mulvaney. Conservative consumers launched a boycott that pushed its market share below Modelo Especial (a Mexican beer licensed in the US by Constellation Brands) in just a few months. 

As of this summer, Bud Light has also fallen behind its sister brand Michelob Ultra, according to Nielsen IQ market data analyzed by the consulting firm Bump Williams. Both beers are owned by Anheuser-Busch InBev.

While the boycott may have pushed Bud Light over the edge, consumer trends were already trending away from domestic brews.

Americans are also generally drinking less beer than they used to, and are increasingly preferring lighter brews and imports. In May, the US imported more than 125.3 million barrels of beer, up 9% from last year, according to US Department of Commerce data compiled by the Brewers Association.

While the boycott may have pushed Bud Light over the edge, consumer trends were already trending away from domestic brews.

Americans are also generally drinking less beer than they used to, and are increasingly preferring lighter brews and imports. In May, the US imported more than 125.3 million barrels of beer, up 9% from last year, according to US Department of Commerce data compiled by the Brewers Association.

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“Madden” maker EA surges on report it’s nearing $50 billion deal to go private

Shares of video game giant Electronic Arts are surging up more than 15% Friday following a Wall Street Journal report that the company is nearing a roughly $50 billion deal to go private.

According to the WSJ, an investment group including Saudi Arabias Public Investment Fund and PE firm Silver Lake (which is also part of the TikTok deal) could announce a deal next week.

In its fiscal first quarter that ended in June, EA delivered a disappointing net bookings outlook for the fiscal year.

Shares of EAs most intimidating competitor, Grand Theft Auto publisher Take-Two Interactive, climbed nearly 5% on the report.

In its fiscal first quarter that ended in June, EA delivered a disappointing net bookings outlook for the fiscal year.

Shares of EAs most intimidating competitor, Grand Theft Auto publisher Take-Two Interactive, climbed nearly 5% on the report.

$12.5B 🛍️

Uber’s relying less on pad thai from 0.8 miles away. The company expects gross bookings (what customers spend) of non-restaurant deliveries to grow to $12.5 billion by the end of the year, according to reporting by Bloomberg.

The new forecast marks a 25% boost from the $10 billion estimate Uber shared in May for the delivery of groceries and items from retail partners like Best Buy.

Through the first half of the year, Ubers total delivery gross bookings climbed to more than $42 billion, up about 18% year over year. That nearly matches the gross bookings of its ride-hailing business in the same period.

NikeSKIMS

Nike, trying to break out of its funk, launches its high-stakes collab with Kim Kardashian’s Skims

The partnership champions women athletes and tests how far Kim K’s star power can stretch in the women’s activewear arena.

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