Consumer
Molson Coors Spent More to Steal Bud Light Drinkers — and It Worked
- Beer maker spent 19% more on marketing and administration
- Molson Coors says consumer shift is ‘structural,’ not fading
Coors Light beer.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Molson Coors Beverage Co. spent more on marketing its core brands during competitor Anheuser-Busch InBev NV’s Bud Light marketing imbroglio, and it’s working, according to the company’s fourth-quarter results.
Molson Coors on Tuesday announced earnings that beat average estimates for earnings and net sales. Analysts had predicted that the impact of the Bud Light boycott would wane, and that higher marketing spending would knock adjusted earnings per share down 14%. Instead, the metric decreased only 8%.