Broadcasters Might Finally Be Able to Advertise Cannabis, But Will They Want To?

Broadcasters Might Finally Be Able to Advertise Cannabis, But Will They Want To?
Cannabtimes

<![CDATA[As the United States Congress looks toward its end-of-year checklist, high in priority is the need to pass a new appropriations bill to fund the federal government for another fiscal year. Lawmakers recently passed a one-week extension to pass the bill, with a new deadline of Dec. 23. Part of that bill may enact a change to Federal Communications Commission (FCC) spending that would in practice allow cannabis companies to advertise on FCC-regulated television and radio broadcast networks, such as CBS and Clear Channel. In July of 2022, the U.S. House of Representatives passed a bill as part of its appropriations package that included a provision prohibiting the FCC from spending federal funding to stop cannabis companies from advertising in states with state-legal marijuana markets. The bill contains other provisions specific to the FCC approval process for broadcast companies and their advertising, but in short, the bill allows for advertising by cannabis companies on FCC-regulated television and radio networks.The National Association of Broadcasters, a trade organization representing television and radio broadcasters, praised the bill when it passed. This is unsurprising given its passage would almost certainly unlock new advertising dollars for broadcasters.  Advertising dollars spent on television and radio ads combined have fallen to about half the value spent on digital advertising in recent years. According to a report from PricewaterhouseCoopers, digital advertising in the U.S. is expected to be a $200 billion industry in 2025, while TV will account for just $81 billion, and radio a meager $19 billion. And the gap between digital ad spend and broadcast ad spend is only expected to widen.  Broadcast networks, however, will not have much competition for cannabis advertising dollars from digital advertising services, as the major players currently prohibit the marketing of drugs and paraphernalia. Amazon, Alphabet (the parent company of…

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Source : Broadcasters Might Finally Be Able to Advertise Cannabis, But Will They Want To?

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