MILAN, ITALY- Forget the athletes for a minute. The real winners at the Olympic games are the sponsors who shell out hundreds of millions of dollars for the right to be called a “worldwide partner.” This comes with exclusivity at the games themselves, the ability to brand products with the Olympic logo, and the right to keep competitors outside the gates. While watching the Milano Cortina 2026 Winter Olympic Games, which started earlier this month and will conclude this weekend, I caught glimpses of mitten-wearing spectators holding cans of Corona Cero, the non-alcoholic version of the famed Mexican lager.
Anheuser-Busch InBev is the largest brewing company in the world, so it makes sense that they are the exclusive partner of the games, but to put a non-alcoholic Corona, a brand synonymous with tropical beaches, forward as the beer face of the Winter Games can be a head scratcher.
“Together with the IOC, we are creating unforgettable experiences for consumers and athletes, where beer and sport come together in celebration of the Winter Olympics,” said Richard Oppy, AB InBev Global President, Premium Brands in a press release announcing the beer’s place in the winter games. “Corona Cero’s momentum since its Paris debut reflects the growing global demand for balanced choices, and we are proud to bring messages of connection, moderation, and celebration to the Games.”
Everywhere in Milan
My first encounter with Corona Cero in Milan came in the form of a billboard at the airport, before I had even cleared customs. Several more printed reminders appeared in the terminal, near baggage claim, and at the rental car center.
The advertising continues on billboards throughout the city, including one in view of the famed Duomo Milan, or the Metropolitan Cathedral-Basilica of the Nativity of Saint Mary. Restaurants and cafés have it on offer throughout the city.
The company has a hospitality house and exhibit in the center of Milan, and athlete social media accounts have shown the brand gifting logoed varsity jackets to winners, and engraving gold commemorative bottles to athletes living in the Olympic village. Even if you don’t want to drink the beer, there’s no escape from its presence.
The only beer at the games
Corona Cero and the more familiar 4.5% ABV Corona Extra are the only two beers available at all of the Olympic venues. Served from branded coolers at beverage kiosks in 310ml (10.4-ounce) aluminum bottles, each cost €7. You can either pay with cash or Visa, which is of course the official credit card sponsor.
Non beer non-alcoholic beverages are supplied by Coca-Cola, which does manage to offer more than two soda selections from its branded coolers.
On television coverage in the United States, the Corona sightings are mainly in the background. Instead, viewers are treated to commercials for Michelob Ultra, an AB INBev brand that has paid for the rights to be the official beer of Team USA.
Brewery ownership varies by country
But why, you might ask, is Corona at the games but not a focus in U.S. advertising?
“ABI doesn’t own Corona in the US. Constellation Brands does,” explains Christopher Shepard, the Senior Editor of Beer Marketer’s INSIGHTS.
ABI acquired Grupo Modelo, the Mexican brewer that built Corona in its home country. Just over a decade ago,
“Prior to ABI’s acquisition of Grupo Modelo, Corona was imported into the US by a company called Crown Imports (named for its lead brand, Corona), of which Grupo Modelo owned a large stake,” Shepard explains. “But the US Department of Justice required ABI to fully divest Grupo Modelo’s stake in Crown (now simply the beer division of Constellation Brands) on antitrust concerns.”
A very valuable brand
So while AB InBev may be synonymous with Budweiser all over the world (and Michelob Ultra in the U.S.), Corona is typically viewed as the company’s most valuable brand globally, says Shepard.
Anecdotally, during two evenings at the Milano Ice Skating Arena during Short Track Speed Skating Events, the Corona Extra seemed to be purchased at a greater rate by attendees than the non-alcoholic version. Most people opted for a lime wedge. But it is worth noting that companies like AB InBev are known to play the long game, and that the choice of non-alcoholic Corona as the official beer of these Winter Olympic Games was not made on a whim.
“Corona Cero is the company’s lead horse in the non-alcoholic race, too,” says Shepard “And ABI has recently turned to its non-alcoholic portfolio during global sporting events, perhaps a nod to the “health and wellness” halo that’s helped reinvigorate NA beer all over the world.”
AB InBev has already inked a deal to be the official beer sponsor of the 2028 Olympic Games in Los Angeles.
Among the surfing, beach volleyball, and swimming, Michelob Ultra, which also has a non-alcoholic version, will be the official beer.
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John Holl is the editor of All About Beer Magazine.
JohnHoll@allaboutbeer.com
