Connect with us



Initiative Australia Launches Deep Dive Into Australia’s Legal Cannabis Market

We are approaching a rare phenomenon in Australian marketing – the birth of a new category

Today is International Cannabis Culture Day, or more commonly known as ‘4-20’, and Initiative Australia, the culturally-driven media agency within Mediabrands, has launched a deep-dive study into the potential explosive growth of Australia’s legal cannabis industry.

The study, called ‘Cannabusiness’, forecasts the emergence of a massive industry in legal cannabis across Australia and its opportunities for marketers. Forty two percent of Australians support legalisation of recreational cannabis and between 20 to 40 companies are already listed on the ASX to help manage investment in the industry.

Initiative has today launched a Cannabusiness website to coincide with Cannabis Culture Day and will be holding a public, live-panel discussion in May hosted by Initiative Australia managing director Sam Geer. The panel will interrogate the rising cultural re-acceptance of cannabis and what marketers can learn from this shift and apply to their own brands to help power business growth.

“We are approaching a rare phenomenon in Australian marketing – the birth of a new category,” said Geer. “Australia is the fastest-growing medical cannabis market in the world and the 5thlargest in size – it’s time we started paying attention.”

Sam Geer

Initiative is launching Cannabusiness as part of its Culture Shock series of investigative research into how developments in culture impact marketing and media investment decisions.

“Positive interest in legislation to legalise cannabis demands a massive shift in culture in this country after decades of negative personal and political connotations,” said Geer. “But the industry is an approaching powerhouse, with global estimates that Cannabis will be a $104 Billion market by 2024.” Further details of the Cannabusiness live-stream will appear on the Cannabusiness website.

Sign Up For Our Newsletter

Written By

Do you have an article, infographic, podcast, presentation slides, press release or a key individual from your organisation that you'd like to highlight on Marketing In Asia? Head on over to Upload Your Content for more info.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

TikTok Introduces Lead Generation Ads To Enable Businesses To Drive Customer Acquisition With Ease


Accenture Interactive’s Droga5 Expands Global Footprint With Opening Of Office In Japan


Icertis Again Named A Leader In Gartner Magic Quadrant For Contract Life Cycle Management

PR Newswire

Carsome Partners With Aspirasi To Offer Data-Driven Dealer Financing Solutions


Sign Up For Our Newsletter