The Brewers Association (BA) generated $23,395,125 in total revenue in 2022, surpassing the $20 million mark for the first time since 2019, the trade group representing small and independent brewers shared this week.
Total revenue marked a more than $6 million increase over the $17,338,027 in revenue generated in 2021 and a $13.657 million increase over the $9,737,609 in revenue in 2020.
Although the BA’s revenue has ticked up over the last two years, it still trails pre-pandemic levels, when the organization took in more than $27.7 million in 2019, $29.3 million in 2018, $26 million in 2017, and $24.5 million in 2016.
Total expenses for the BA in 2022 totaled $22,554,593, a nearly $7.4 million increase year-over-year (YoY). After expenses, the organization netted $840,532 in 2022, down nearly $1.3 million from the $2.136 million netted in 2021.
During the height of the COVID-19 pandemic shutdowns and event cancellations in 2020, the BA incurred a more than $3.58 million operational loss, with expenses topping $13.3 million. The only other year since 2019 in which the BA operated at a loss was 2018, when expenses reached nearly $29.9 million and the group posted a loss of $589,721.
In 2022, the BA’s four largest expenses were salaries and benefits ($7,854,333, +$796,923 YoY), event operations ($5,654,617, +$3,821,740 YoY), outside services ($3,073,715, +$985,978), and travel ($1,359,214, +$1,057,879).
Event revenue, the BA’s largest revenue source, nearly doubled in 2022, growing from $7,294,944 in 2021 to $14,212,199 last year as the organization’s signature events resumed in-person gatherings, including the Craft Brewers Conference (CBC), the Great American Beer Festival (GABF), and beer-and-food pairing event SAVOR, which the organization has since discontinued.
Revenue from membership dues continued to decline in 2022, dropping from $4,508,011, to $4,354,518, the lowest amount of dues generated since 2016. The BA raised the price of membership dues this month, its first increase in 18 years. After events, membership dues make up the BA’s second largest source of annual revenue. Membership dues peaked in 2019, with the organization bringing in $5,148,687 in revenue. Since 2019, membership dues have declined $794,169.
Advertising and sponsorship revenue in 2022 increased to $3,413,897, up from $2,280,779 in 2021.
The BA’s other revenue sources both declined year-over year, including book and merchandise sales ($699,112 in 2022, down from $834,079 in 2021) and all other revenue ($715,398 in 2022, down from $2,420,214 in 2021), which includes online courses and COVID-related relief programs.