For an industry that sells a good time, alcohol executives sure haven’t been having one... until now, that is. With global drinking rates sliding, AB InBevBUD

, DiageoDEO

, and Molson CoorsTAP

are all reeling from consumer pullbacks and the sober-curious shift — especially in North America. Now the World Cup is coming to that exact backyard, setting up a make-or-break moment.

• In preparation, beer ad spend is running 20x Qatar 2022 levels — withTAP
  alone making its largest live-event media investment in a decade.
• But the marketing blitz masks an industry also reinventing itself — pivoting toward pre-mixed, non-alcoholic, and more affordable options.

Beyond the buzz: Fortunately, soccer fans are the industry’s best customers. About half grab beers at games, with crowds spilling into pre- and post-match bars. While the structural case is genuinely strong, Rabobank analysts warn of serious industry issues if sales don’t tick up during the month-long tournament. That doesn’t seem to be an issue for now, as $BUD and $DEO both posted growth after years of declines, but even after the trophy is lifted, Big Alcohol still has to deal with a world that simply socializes less. Step aside, Messi and Ronaldo, because that’s the real kicker.