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Mobile Games Provide Inroads to Cannabis Consumers

Ryan Allway

July 19th, 2017

News, Top News

Mobile Games Provide Inroads to Cannabis Consumers

Cannabis businesses have experienced tremendous growth over the past few years, but there’s one problem that has been constraining future potential: Reaching consumers with ads. Not surprisingly, many traditional ad channels are off-limits to the federally-illegal industry. The good news is that there are several companies solving the problem by launching mobile apps and games targeting cannabis consumers and enthusiasts.

In this article, we will look at how mobile games could help cannabis companies reach consumers in an otherwise off-limits advertising environment.

Cannabis Advertising Troubles

The cannabis industry is projected to exceed $50 billion in size by 2026, according to Cowen & Co., driven by the legalization of medical and recreational marijuana. While cannabis cultivators and dispensaries are obvious beneficiaries, there are many different industries that stand to benefit from the legalization of the drug. The industry has already become a major source of revenue for multi-billion dollar companies like Scotts Miracle-Gro Co. (NYSE: SMG).

Unfortunately, the federal opposition to cannabis legalization has made it challenging for these companies to reach consumers. Billboards, television, and other traditional ad channels are strictly off-limits, while online advertisers have been slow to embrace the industry. While there are some niche ad services that have sprung up, many of these services lack the scale needed by fast-growing cannabis companies looking to reach new consumers.

Many companies have tried to solve this problem by creating their own advertising networks or cannabis-focused mobile apps. For example, the Mantis Ad Network provides a Google AdWords-like platform for the web while MassRoots Inc. (OTCQB: MSRT) and Leafly operate strain-finding apps that connect consumers with dispensaries. These types of businesses are helpful to dispensaries, but not necessarily the wider market.

Games as an Entry Point

The global gaming industry is expected to grow at an 8.1% compound annual growth rate to $109.2 billion this year, according to Newzoo’s 45-page Global Gaming Market report. Not surprisingly, the fastest growth rates are in mobile games and online games, which have become especially popular in emerging markets. Many of these games operate on ad-supported business models rather than more traditional fee-based business models.

First Harvest Corp.’s (OTCQB: HVST) top-rated Hemp Inc. is a ‘freemium’ empire building game available on the Apple App Store and Google Play Store. By choosing the correct strains, using top-notch talent, and buying the latest equipment, users can compete against each other in a social game that has rapidly gained traction – ranking first in both app stores in the past. The company aims to cultivate a cannabis-focused audience that’s attractive to advertisers.

By reaching users on a mobile device, the company provides advertisers with access to a highly-engaged audience that are self-identified cannabis enthusiasts. Advertisers can target specific users based on their device profiles and social engagement habits to maximize return on investment rather than paying for online or magazine ads based purely on impressions. This could be the win-win needed to finally bridge the industry’s troubling advertising gap.

Looking Ahead

The cannabis industry is experiencing tremendous growth, but many companies have trouble finding consumers. While some companies have offered cannabis-focused mobile apps, First Harvest Corp. (OTCQB: HVST) has pioneered the use of mobile games to reach a wider cannabis enthusiast audience. Advertisers could find this a preferred advertising medium at a critical time during the industry’s growth – which could yield opportunities for investors.

In addition to mobile games, First Harvest’s CannaVoices is a member-based social media platform for subscribers to participate in an open forum with other pro-cannabis supporters. The platform consists of a digital magazine that showcases leading researchers, patients, enthusiasts, start-ups, and more, as well as a social media platform where users can discuss with issues that matter to them and interact with each other.

For more information, visit the company’s website and follow CannabisFN’s coverage.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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About CFN Media Group

CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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