The rise in legal cannabis has given way to a multi-billion dollar industry market, with eight states plus Washington DC cashing in on the herb. And that’s just the recreational market. Medicinal marijuana is legal in 30 states, and between the two markets, the legal weed industry rakes in sales between $4 billion and $7 billion annually.
On the flip side is the black market, where sales top a reported $50 billion each year, leaving it approximately 10 times more profitable than the legal industry. While it still isn’t notching as high as the tobacco or alcohol industry, the legal and black market is certainly nothing to laugh at–and it most definitely blows these other popular American consumer markets out of the water.
You know the old saying: What came first, the chicken or the egg? Let’s be real. Girl Scout Cookies were invented for weed munchies. We know that somewhere, some former girl scout was toking up out west when they decided to market cookies to people for troop bucks. But, unfortunately, sales aren’t as groundbreaking as you might think. Even with all those stoners out there, Girl Scout Cookies only pull in around $800 million a year. Remedy? Smoke more, eat more. It’s a win-win for both industries.
Breaking News!! Americans love weed more than they love boners. On average, 52% of men experience some form of erectile dysfunction, but it looks like they’re turning to cannabis as an effective remedy before they’re popping Viagra or Cialis. With sales barely exceeding $2 billion, it makes you want to say: #SuckOnThat, PharmaBros.
Ok, so we know that the silver screen and Netflix have virtually made buying a movie ticket a thing of the past, but apparently, people still do it. And they pay a pretty hefty price, too! Costing anywhere between $8-$20 for a single ticket, annual movie ticket sales account for $11 billion across the industry, and that isn’t even including snacks. You’re going to have to fork over an additional 15 bucks to get your popcorn and snowcap munchies on. Because let’s be real, that’s a necessity.
We see you, Roger Goodell. But don’t think your anti-cannabis agenda has that much of an effect on our industry. Pulling in $13 billion annually, the NFL is one of the most dominant sports and entertainment markets in the country–and that includes TV, radio, and internet coverage. When you combine the legal and black market, the cannabis industry outperforms the NFL 3-1. How do you like those numbers?
Let’s get things straight, here: Vegas is no joke. Neither is Reno nor Atlantic City. Gambling is Big Business with two capital B’s. With a reported $34 billion a year in cash money, it’s safe to say American’s are hitting the blackjack table hard. Turns out they’re hitting a bong harder.