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Magazine Bets Big on Promoting the Weed Business
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CommPRO.biz -- Fay Shapiro CommPRO.biz -- Fay Shapiro
For Immediate Release:
Dateline: New York, NY
Saturday, October 21, 2017

 

As state after state legalized marijuana, dispensaries immediately began popping up. A practice that had been part of American life for decades, albeit mostly illegal and somewhat hidden, was finally out in the open. In some places, at least.

Across the nation, it was a different story. Threats of a federal crackdown on the weed business scared away a lot of potential pot entrepreneurs. But there’s at least one who didn’t even blink. Cassandra Farrington is the CEO and co-founder of “Marijuana Business Daily,” a publication she hopes will become the “Wall Street Journal” of the cannabis business. At least, the legal business.

Farrington redoubled her efforts as her crosstown rivals closed shop in Denver. As others were fleeing the industry or aborting business ideas before they ever got off the ground, Farrington and company were planning to host The Marijuana Business Conference & Expo, which will draw more than 14,000 to Las Vegas. If you guessed that would be the biggest conference of its kind to date, you are right on the money.

That “all in” dedication, regardless of the challenges, earned Farrington a ton of respect and some massive business growth, 843 percent in 2016 alone. So, where does Farrington feel her ‘zine fits in the publishing world? She told Forbes:

“We’re not a lifestyle publication or a culture magazine or a celebration of the plant type publication. We are truly all about the dollars, cents, actions, partnerships: the business side of the industry… It is a huge industry, not just in the United States, but globally and getting bigger every day…”

Farrington is committed to carving out her own niche in a marketplace glutted with “lifestyle” publications such as Weed Week, Merry Jane and, of course, High Times. The specificity of her vision gives her a strong position from which to work, even if it does limit her potential for content.

Farrington wants to speak to entrepreneurs who are, along with the rest of us, trying to figure out what the marijuana business will look like in the coming decade. Will it follow the template set by other vices, like alcohol or tobacco? Focus more on the medicinal side until taken over by synthetic pharmaceutical substitutes? A bit of both?

That latter, at least in the short run, appears most likely. Some states have gone for full-on legalization. Others, for medical-only applications. Because the legality is split, so, too, will be the business options and consumer markets. Since business will straddle the fence, it’s likely Farrington will as well. Whatever happens next, she plans to be there to cover it.

Ronn Torossian - Magazine Bets Big on Promoting the Weed BusinessAbout the Author: Ronn Torossian is CEO of 5WPR, a leading PR firm.

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