With the recent passage of the 2018 Farm Bill, the U.S. hemp industry is in for some big changes. The Farm Bill didn’t just loosen regulations surrounding hemp-derived CBD products, but it also forced many businesses ranging from banks to billboard operators to rethink their policies on CBD products and the companies behind them.
When it comes to billboard advertising, there are few locations more iconic than New York City’s Times Square. With over 1 million people expected to flood Times Square for the New Year’s Eve ball drop this year, and millions more expected to watch the whole thing on TV, there couldn’t be a more opportune time or place to advertise products and services to the entire world. Despite being denied Times Square ad space last year, Elixinol Global Ltd. (ASX:EXL) (OTC:ELLXF) plans to do just that.
”What a difference a year makes,” Chris Husong, Director of Sales and Marketing for Elixinol told Hemp Today.
“Times Square on New Year’s Eve is one of the most iconic advertising spaces in the United States, with over a million in-person visitors and over a billion around the globe watching the festivities on TV. This placement reflects our optimism for 2019.”
At over a million dollars per year, the cost of a billboard advertisement in Times Square is brutally expensive. To make it worth it, advertisers need a product with mass appeal and worldwide availability. Just like Budweiser, Sony, and the other brands that advertise there, Elixinol checks off both boxes.
With everyone from Dr. Sanjay Gupta to Willie Nelson endorsing CBD, the mass appeal is certainly there. With distribution in over 40 countries around the world, Elixinol certainly has the infrastructure to deliver its products worldwide.
Already estimated to be the United States’ fifth largest hemp CBD company by market share, we wouldn’t be shocked if this Times Square ad campaign turns Elixinol into a household name. In the meantime, be sure to subscribe to cannabis news updates here so you never miss an important update.
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