Anheuser Busch Executive Says Company Ended Nascar Role to Invest More on Digitial Space

The Hollywood Reporter has offered explanation as to why Anheuser-Busch decided to end its title sponsorship of Nascar's Busch series and its role as the official beer of Nascar.

Tony Ponturo, vice president of global media and sports/entertainment marketing for Busch, said the company made the move to "invest more in entertainment and the digital space."

A-B will increase its online media spending from 10 percent of its overall media budget -- estimated at about $500 million -- to 12%-15% of its budget next year, Ponturo told the Online Media, Marketing & Advertising Conference & Expo, which is part of Advertising Week.

While Ponturo said A-B wanted to end its official NASCAR sponsorships so it could use funds elsewhere, industry sources have said the company didn't want to pay the higher sponsorship fees NASCAR was seeking.

Very interesting indeed, a company not willing to pony up to pay a league or sport any price.

Ponturo declined comment on how much A-B spent annually on of its official Nascar sponsorships, but it is believed to be in the $15 million range.

Coors Light will become the official beer of Nascar next year in a five-year deal estimated at $20 million.

Ponturo also said Busch will continue online entertainment network Bud.TV, in which the company already has invested between $20 million and $30 million.