Beer is one of those industries that it seems like no one would ever be able to stop, right? Well it turns out one of the biggest beer manufacturers in the world does see a threat on the horizon: marijuana.
In a financial document released a few weeks ago, Molson Coors, the company that makes both the Miller and Coors brands, said they're monitoring the cannabis industry and how it will affect their sales, listing it as one of the company's "risk factors." They're worried that consumers will use their extracurricular money to buy marijuana instead of beer in areas where legalization occurs.
Of course, marijuana wasn't the only risk Molson Coors noted. In fact, they listed more than 40 of them in the financial document. So they have more on their plate than just cannabis.
But that doesn't mean it's not a threat. A study last year showed that around 25 percent of Americans have either switched from beer to marijuana, or said they would if it were legal where they live. And that study occurred before California legalized recreational cannabis.
However, considering Molson Coors racked up $11 billion in sales in 2017, we think they'll be just fine losing a few stoners.