Sports betting, CBD oil, radio station contests, political advertising and social media photo copyrights. Sounds like a road map dotted with red flags at every mile marker. These are among the essential issues discussed in one of the most relevant RAB “Radio On Main Street” podcasts to date. This time, RAB President/CEO Erica Farber garners legal advice from Brad Deutsch, Principal of the law firm Garvey Schubert Barer.
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“Proceed with caution.” It may sound like a broken record but those three words apply more than ever for radio stations and other media outlets looking to accept advertising for CBD and other hemp products. Restraint is even more crucial following some recent government correspondence on the issue analyzed by veteran communications attorney David Oxenford.
Educating consumers about CBD can be challenging with the limitations of digital advertising—and despite caution about marketing such products over traditional platforms, an increasing number of companies are turning to audio. Hath, a newly launched CBD brand, is spending money on podcasts for its newly launched CBD brand, while CBD company Koi has placed radio ads in Southern California.
The calendar may still say summer but media planners are already thinking back-to-school and, soon, the crucial holiday shopping season. As broadcasters polish their pitches for these sales tsunamis, industry leaders have high hopes for the back half of the year. “There’s a lot of advertiser interest in audio across all platforms,” RAB topper Erica Farber tells Inside Radio. “We’re anticipating that we should have a solid, good second half of the year.”
Kroger, the nation’s largest grocery retailer, will sell hemp-derived CBD topical products, including creams, balms and oils, in 945 stores across 17 states, according to a company spokesperson. The chain joins a growing list of national retailers, including Walgreens, CVS, Vitamin Shoppe and GNC, that are beginning to stock shelves with the cannabis compound.
As political races heat up for 2020, broadcasters are betting their bottom dollar that a bounty awaits them. Adding to the kitty, hotly contested ballot issues are bringing important political spending to radio. Not surprisingly, there are few that have become as much of a tug of war as marijuana legalization, which is already adding political dollars to radio coffers more than a year before the election.
As broadcasters continue to grapple with the legality of cannabis advertising over the airwaves, a new Nielsen report teases just how large the enterprise is becoming. By 2025, the U.S. hemp-based CBD industry will have become what it terms “a $6 billion opportunity.”
The Texas Association of Broadcasters is paying close attention to state lawmakers, who approved a bill legalizing industrial hemp farming as well as production and sale of certain types of CBD oil manufactured from hemp. For radio broadcasters in the state, the measure brings some much needed clarity as to what CBD products are legal to sell—and advertise—in Texas.
Zotye USA confirmed on Thursday that a midsize crossover will be their first entry into the U.S. automotive market. Chinese automaker Zotye Automobile has created a U.S. division and will introduce the four cylinder T600 by the end of 2020 or in the first quarter of 2021. A full-size crossover and sedans could follow. Pricing has not been announced.
Ford officials announced Wednesday that the automaker will add an "affordable" nameplate by 2022, aimed at filling the hole left by ending sales of the Fiesta, Focus, Fusion and Taurus sedans. No other details, like body style and size, were released. Ford previously said it had several new vehicles under development, including a small off-road crossover informally known as the Baby Bronco that's planned for mid-2020.
After decades of being dismissed or regarded warily by consumers, cannabis is now poised to upend the food and beverage industry. Hemp, from which CBD is extracted, was declassified as a controlled substance by the federal government in the 2018 Farm Bill. And a new study conducted by High Yield Insights, a market research firm focused on the cannabis market, found that 40% of U.S. consumers age 21 and older would try CBD.
Broadcasters have largely been smoked out from cashing in on the “green wave” of expanding marijuana legalization across the U.S. Could CDB oil, an offshoot product seemingly being sold in every state in the country, represent a safer way for broadcasters to capitalize on the massive cannabis industry? Not so fast, says one well-versed broadcast attorney.
The battle between fast food customers is heating up again as Burger King introduces its new $5 monthly coffee subscription. For five dollars each month, participants in the United States are entitled to one small coffee a day, available at any time they are open at participating stores. To sign up, all folks have to do it download the BK mobile app (which may finally explain why Burger King has an app).
What’s being deemed a “green wave” in the form of expanding marijuana legalization across the U.S. also continues stemming hopes for a second kind of green: dollar bills. Broadcasters continue to discern how they can cash in as advertising regulations continue to sort themselves out—but there remains a good ways to go.
Although AB InBev's North American beer volume was down by 3 percent in the first nine months of last year, company CEO Carlos Brito said it does not have any data to prove that marijuana is hurting beer sales. But the company is hedging its bet.
T-Mobile US is delaying the debut of its much-anticipated video service after the project proved more complex than expected, Bloomberg reports. The move would push back the rollout until 2019, though plans reportedly could still change.
Opening up a new revenue stream, Music of Your Life has acquired The Marquie Group, which develops health and beauty products. The syndicated adult standards radio format will be marketing Marquie’s new portfolio of all-natural wellness products on its radio network with 60-second commercials and on its streaming television channel.
Retail sales are expected to grow between 5 and 5.6 percent this year from a year ago, according to Deloitte's annual forecast for the holiday season. This year, Deloitte says holiday retail sales could top $1.10 trillion.