A new media platform servicing Australia’s burgeoning legal cannabis industry launches today.
Cannabiz is the brainchild of Mumbrella co-founder and former CEO Martin Lane and KlickX founder Kim McKay.
It will inform, educate and connect Australia’s legal cannabis sector through its website weekly newsletter, podcast, market intelligence, industry reports, networking events and business consulting services.
As well as its media properties, Cannabiz will offer PR and marketing advice to an industry which still operates in a highly regulated advertising environment.
The platform will be available to member subscribers in four tiers – Essential, Advantage, Premium and The Green List. Other revenue will come from branded content, events, training and consultancy.
The consultancy division will help Cannabiz clients future proof their businesses by introducing them to new ways of connecting with customers.
McKay said: “The industry is at a tipping point. It is not a time for those who are afraid to challenge ideas and traditional approaches to business. That’s where Cannabiz comes in.”
Membership will be available to anyone working in Australia’s legal cannabis sector including growers, manufacturers, distributors, clinical researchers, healthcare professionals, campaigners and political advocates.
Cannabiz will launch with an in-depth, three-part analysis of Australia’s legal cannabis industry featuring exclusive insights from company CEOs, politicians, trade bodies and campaigners.
The Cannabiz launch comes as a wave of regulatory reforms sweep Australia, major Government-backed medicinal cannabis projects get the green light and new commercial players enter the market.
In the first quarter of 2020, the number of medicinal cannabis products available for doctors to prescribe in Australia topped 100, with sales of A$150m expected by the end of the year*. Globally, the market is predicted to be worth $US50 billion by 2025**.
It is currently legal for doctors to prescribe medicinal cannabis in Australia, but access remains challenging for patients, forcing the majority to source it illegally.
A recent senate enquiry recommended downgrading medicinal cannabis to schedule 3, meaning it would be available behind the counter at pharmacies for the first time.
McKay said: “Not only are we solving a problem by providing clarity and guidance for a young industry with huge potential, we are also in the position to create meaningful change. Access to medicinal cannabis can improve and change the lives of many Australians.”
Lane added: “While there are websites aimed at the cannabis investment and medical communities, there’s nothing covering all aspects of the industry in Australia – growing, manufacturing, clinical trials, distribution, prescription, marketing and advocacy. There’s a whole ecosystem which we want to support and help grow.”
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