• by Les Luchter , February 23, 2022

As Omicron hit in the fourth quarter of 2021, Molson Coors made a “choiceful” decision not to cut back on marketing, the company’s President/CEO Gavin Hattersley told investors during a Wednesday earnings call, “because our brands are reacting so well to the marketing, and we wanted to set ourselves up for a strong 2022.”

“We chose not to cut the marketing investment that would help insure the long-term health of our brands and our business,” Hattersley stated, adding “We are going to increase marketing in 2022.”

Hattersley gave a particular shout-out to Coors Light’s three-year-old “Made to Chill” campaign, which during the quarter brought back its holiday Beerman character, saying the campaign “continues to work hard for us, both regionally, nationally and at a local level. It’s resonating and attracting 21- to 29-year-old consumers."

Indeed, Coors Light and Miller Lite, the company’s two leading brands, saw their sales rise 4.4% and 7.6% respectively during 2021 -- as Molson Coors’ overall sales increased 6.5% to $10.28 billion.

During the fourth quarter, despite Omnicron’s intrusion over its final six weeks, Molson Coors’s sales grew 14% and earnings grew 21.9%, with CFO Tracey Joubert again giving at least part of the credit to increased marketing investment over both 2020 and 2019.

In addition to its two flagship light beers, other highlights of Molson Coors 2021 earnings report includes what the company terms “above-premium” beverages and its “beyond beer” or “emerging growth” category,

Above-premium beverages, Hattersley said, grew over 15%, and made up the largest percentage of sales in the company’s history.

During a year when Coors Hard Seltzer was discontinued in the U.S. and hard seltzer overall saw its sizzle dissolve, hard seltzers contributed the most to Molson Coors’ above-premium growth -- up triple digits, thanks to Vizzy and newcomer Topo Chico, both among the category’s top five brands.

Hattersley also pointed to U.S. growth for Blue Moon Belgian White, which grew in the high single digits, and Peroni, which rose by double digits.

Emerging-growth beverages were led by Dwayne Johnson’s ZOA energy drink, which launched during the year and became the “fastest growing energy drink in the United States.”

Molson Coors said the beyond-beer category contributed nearly $800 million in 2021 sales, tracking ahead of the company’s $1 billion annual revenue target by 2023.