Bud Light Not Sponsoring All-Ages Drag Show Later This Month, Anheuser-Busch Tells OutKick

Anheuser-Busch issued a statement to Outkick on Thursday afternoon, clarifying that Bud Light is not a co-sponsor of an all-ages drag show set for later this month in Arizona.

News of Bud Light's involvement began to spread earlier this week, when a poster for the event, “Pride in the Pines," named the beer as one of its major sponsors.

The event is listed as a “family festival event” and a family-friendly “safe space” for all visitors, and includes drag queens and other performers.

After OutKick and other media outlets published the original story regarding Bud Light's involvement, an Anheuser-Busch spokesperson reached out with the following statement:

“Bud Light is not a sponsor of this event. The event organizers have issued a corrected version of the poster.”

Bud Light and Anheuser-Busch responds to Arizona pride sponsorship

OutKick reached back out to AB asking whether or not Bud Light was ever a sponsor of the Flagstaff, Arizona event, and, if so, why they pulled out. As of noon Thursday, the company had not yet responded.

It's been an awful two months for Anheuser-Busch since putting transgender TikTok star Dylan Mulvaney on a Bud Light can in April, with sales plummeting each and every week.

The latest numbers include a nearly 24% drop on a dollar basis for the week ending May 27 compared to last year.

Anheuser-Busch's stock, meanwhile, has taken a significant hit. The company had lost $27 billion in value as of last week, with experts also warning the beer could lose shelf space this fall.

“ generally take sales data from April, May, June, July, and then based off of that data in that time period, they will reallocate shelf space,” Anson Frericks told the Daily Mail last week, adding that retailers generally use Labor Day as a reset for the rest of the year.

“That shelf space will be allocated to Miller Lite, Coors Light, Yuengling, and some of the other brands that have taken share from them,” he added.

“That almost permanently then locks in this as the new norm of where their sales will be, and what their share of the beer category will be.”

This story will be updated if Anheuser-Busch responds to OutKick's questions.