As Twitter Moves Forward With Cannabis Advertising, Meta Really Should Get With The Program
Twitter Inc's (NYSE:TWTR) decision to accept cannabis ads represents a massive change that put the social media app on the frontiers of cannabis advertising, which will no doubt be huge.
Other advertising giants like Meta Platforms Inc (NASDAQ:META) would be wise to follow suit. However, due to the federal prohibition against cannabis and strict state regulations, Mark Zuckerberg's social media platforms refuse to treat cannabis like any other consumer product category.
Meta is clear: it doesn't allow ads that promote or offer the sale of THC (Tetrahydrocannabinol) products or cannabis products that contain related psychoactive components and CBD (Cannabidiol) products or similar cannabinoid products such as CBG (Cannabigerol). Hemp products can be advertised but under strict requirements.
Breaking: Twitter Execs To Give Keynote At Benzinga's Cannabis Event
Twitter's Alexa Alianiello (Twitter US Sales & Partnerships) and Rohan Routroy (Twitter NEXT) will share their insights as featured keynote speakers at the Benzinga Cannabis Capital Conference in Miami Beach on April 11-12, 2023. This marks the first time Twitter will be meeting with cannabis industry executives to discuss the role the social networking giant will play in the cannabis industry and you don't want to miss that.
Get a cool 35% discount off your ticket, today only with this TWITTER code. But, hurry as the discount ends at midnight today, Wednesday, March 22.
Also, check out Benzinga Live HERE for an awesome interview of seven major cannabis executives about the impact of Twitter's decision on the industry.
Cannabis Advertising Wave, Meta Is Not Part Of It
Meta's policy is even more surprising considering that Alphabet Inc.'s (NASDAQ:GOOGL) Google kicked off 2023 by lifting bans on cannabis advertising in certain parts of the U.S. The move allowed the promotion of FDA-approved pharmaceuticals containing CBD and topical hemp-derived CBD products with a THC content of 0.3% or less in California, Colorado and Puerto Rico.
Reddit even accepts ads for topical and non-ingestible hemp-derived CBD products, but only in the U.S., while cannabis ads are allowed in Canada.
Social media giants like YouTube seem to have lessened restrictions on cannabis as well, while LinkedIn and Lantern have proven beneficial in building lasting connections in cannabis.
Former Benzinga writer Andrew Ward interviewed several marketing and industry experts about other options for 'cannasseurs.'
"It's more so for people and not brands, but it is a great place for brands to share their latest press coverage and news," said Alice Moon, a cannabis P.R. and social media professional.
Karina Karassev, co-founder and COO of cannabis packaging brand Stori agreed.
"Linkedin does an excellent job removing negative stigmas surrounding the cannabis industry," Karassev said.
Cannabis brands and fans who often have their accounts deleted or closed down also turn to plant-dedicated media platforms like Kaya Now Inc.'s High There, Enlighten's AdSuite, TheWeedTube, Leafwire and MJLink, startups aiming to provide a solution to the cannabis community and its businesses.
Still, with over 3 billion people currently using at least one of the company's core products - Facebook, WhatsApp, Instagram or Messenger - Meta could be an ideal advertising place for cannabis brands.
The Metaverse
Until then, many cannabis entrepreneurs are venturing into "the Metaverse," a new digital world that allows the setting up of shops as well as the promotion of cannabis products while selling real-world merchandise and non-fungible tokens (NFT) to promote their brands.
Last year, Snoop Dogg and Cordell Broadus (Champ Medici) partnered with the mafia-themed metaverse project MOBLAND to farm digital weed.
Higher Life CBD, a marijuana brand also found an innovative way to capitalize on the digital trend by becoming one of the first cannabis brands to launch an actual CBD dispensary in the metaverse, offering customers a fun, digital, gamified shopping experience that, unlike others, then translates into a tangible product delivered to your doorstep in all U.S. states.
The Benzinga Cannabis Capital Conference is returning to Miami Beach April 11-12, 2023, at Miami Beach's historic Fontainebleau Hotel.
Don't miss out on a chance to hear about future market forecasts and worldly advice on investing and finance from those embedded in the cannabis industry. Are you ready?
Get your 35% discounted ticket today only with this TWITTER code and book your room HERE.
Photo: Benzinga edit with Olesia g on Shutterstock and logo on Wikipedia