Pabst Blue Ribbon, known affectionately by hipsters everywhere as simply “PBR,” is one of those mysterious brands that has somehow thrived during this recession. Minimally marketed and cheap but certainly not the cheapest, the beer has become increasingly popular–up almost 30% in dollar sales over the 52 weeks before this past October.
Pabst has been smart to play into its reputation as a cool, offbeat beer and will continue to cater towards young, with-it drinkers in a new crowdsourcing effort. Left to a charitable trust in 1987, the 165 year old company must be sold to a for-profit company by 2010. On a site that promotes the concept of crowdsourcing with a link to its Wikipedia definition, anyone 21 and over can pledge a minimum of $5 to the $300 million selling price. If the group raises enough money, according Forza Migliozzi, the advertising agency behind the effort, contributors will get enough beer to match their pledges and ownership in the company.
Idea Management