Light beer - the darling of the beer industry in the late 1970's and early 1980's - might have met it's match.  As wine and spirit sales skyrocket and craft beers gain in popularity, light beer sales have stagnated.

Light beer is ceding ground as cabernet-loving baby boomers and millennials weaned on exotic cocktails seek more complex flavors in their brews. High unemployment among light beer drinkers also has prompted some to drink less or switch to cheaper brews. In a bid to return the froth to light beer, the U.S. joint venture between Molson Coors and SABMiller last week unveiled new advertising for a key brand, Miller Lite.

Executives in the industry know that they have a problem and they're getting ready for a last-ditch effort to revive the line.

The new Miller Lite ads will revive the brewer’s classic tagline, “It’s Miller Time.” Aimed at men in their 20s and 30s, the campaign will tone down outdated talk of carbs and calories in favor of a “brewed for brotherhood” theme. The brand will spend 50 percent more on media during the crucial summer selling season.

“Miller Time is all about real friends getting together over a real beer,” MillerCoors Chief Marketing Officer Andy England said in an interview. “We’re going to articulate that with a kind of Midwestern grit that can only come from Miller Lite.”

Light Beer Fights for Life as Craft Brews Invade Shelves - Businessweek.