1hooper
UpInClass Steward
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Beer
Jan 25, 2021 8:55:55 GMT -5
Post by 1hooper on Jan 25, 2021 8:55:55 GMT -5
From CNN and CNBC.
Budweiser's Clydesdale horses have become synonymous with the Super Bowl. But this year, they're getting a rest: For the first time in 37 years, the beer company isn't advertising during the Super Bowl. Instead, Budweiser is shifting the money that would've been spent on the commercial slot — a reported $5.6 million for the February 7 event — to support "critical Covid-19 vaccine awareness" with donations and future ad campaigns, the company said Monday.
Shares of Budweiser parent AB InBev have fallen 14.5% in the last year, giving the company a market value of about $113 billion. While at-home consumption of beer is up due to the pandemic, the blow to bars and sports stadiums has resulted in a 6.8% revenue decline during the first nine months of 2020.
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