Bang Holdings Corp., a digital media company that provides content and its influencer-based marketing network to the legal cannabis industry, announced recently that it is “aggressively targeting” the enormous cannabis advertising void created by Google, whose “restrictive advertising policies prohibit cannabis-related companies,” a media statement from the organization reads.
After almost two years and more than a million dollars invested in building the first major digital advertising network to service the cannabis industry, Bang went public this year, catapulting the company “onto the radar screens of Wall Street and the expanding cannabis industry.”
Analysts estimate the legal cannabis market today at more than $6 billion annually, and project it will grow to $22 billion in 2020. However, the advertising policies of Google, along with Yahoo and others, massively restrict cannabis companies from advertising online. Further, they do not allow mainstream corporations to specifically target the cannabis market. With 68% of all Internet searches done through Google, this presents an enormous hurdle for legal cannabis companies to reach interested potential consumers.
This mainstream media void has served to obstruct and prevent quality companies in the cannabis industry from growing and becoming national brands. It has a chilling effect on capital formation, investment, jobs and tax revenues that those healthy business activities normally produce.
“Harnessing the power and advanced technologies of social media,” the company tells us, “Bang Digital Media offers micro-segmentation to enable advertisers to specifically reach the perfect audience for its products and services. No other ad network allows companies to target the community of this specific industry, giving Bang a first-mover advantage in this fast-growing, multi-billion dollar marketplace.”