Advertising Agencies And A New $13.4 Billion Client

photo_front_million_dollar_billNothing should warm the soul of advertising agencies like the introduction of a brand new multi-billion dollar category. The newest category (well, new to legal marketing, not eons of inhalation) is the marijuana industry.

A recent study from IBISworld states:

  • IBISWorld projects the marijuana industry to generate $13.4 billion in revenue in 2020, up an annualized 30.3%.

  • Legal marijuana is expected to generate about $3.6 billion in revenue this year alone.
  • You like retail? There are currently around 5,000 stores selling retail recreational or medical marijuana across the U.S. IBISWorld projects that number to grow nearly 20% a year through 2020. By then we will have over 12,000 retail outlets.
  • You like jobs? IBISWorld estimates that 75,000 people will work in the marijuana industry by the end of 2015. They expect that this number will rise to 212,091 by 2020.

 

Agencies and design firms are starting to get on this bandwagon.

MediaPost Resports that Minneapolis’ Haberman is on the case, “BIZ DEV: Haberman Named AOR For LeafLine Labs”.

LeafLine Labs, a Minnesota-based medicinal cannabis provider, named Haberman, Minneapolis, as its agency of record. The agency is tasked with introducing LeafLine’s brand experience through website development, public relations, provider and patient education and marketing services. “We are proud to work with LeafLine Labs to help set the standard in this emerging market,” said Fred Haberman, co-founder and CEO, Haberman. “We believe that LeafLine will be a model — not only in Minnesota but across the United States — for how the medicinal cannabis industry can best meet the needs of patients who may benefit from this medicine.”

On The West Coast, Liquid Agency is Designing A Brand ID For US Tobacco Industries

You can read about this at SMOKD. Here is the statement from Liquid (yes, that is big tobacco getting into the marijuana mix — surprised?):

Liquid Agency is excited to be designing the brand identity for a new cannabis line by US Tobacco Industries, set to launch on April 20, 2016. With the legalization of marijuana in 23 states and the District of Columbia, the world’s largest tobacco company and producer of legendary cigarette brand, Kenterfield, has recognized the opportunity to enter a category with huge potential — and asked us to help them design and launch the new brand.

Liquid Agency is excited to be designing the brand identity for a new cannabis line by US Tobacco Industries, set to launch on April 20, 2016. With the legalization of marijuana in 23 states and the District of Columbia, the world’s largest tobacco company and producer of legendary cigarette brand, Kenterfield, has recognized the opportunity to enter a category with huge potential — and asked us to help them design and launch the new brand.

So, Ms. Agency Leader… What are you going to do about a soon to be gigunda — $13.4 Billion — new client category?

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