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BOULDER The Brewers Association said its revenues fell by almost 70% between the end of 2019 and the end of 2020,
In its annual report, the Boulder-based trade association said it generated revenues of just more than $9.73 million in 2020 versus $27.76 million in the year prior, and had a net loss of approximately $3.58 million.
The group also saw its total assets fall 20.9%, from $36.59 million at the end of 2019 to $28.94 million at the close of 2020.
Event revenues were the hardest-hit section of the BA’s earnings last year as the pandemic shut down most public gatherings, including the Great American Beer Festival. Its event-related revenues were $16.17 million in 2019, but plummeted to just $1.7 million in 2020.