In a sweeping new move, President Joe Biden officially pardoned thousands of people convicted of possessing marijuana. The president said the current federal laws“make no sense.” The new pardons impacted about 6,500 people and created a ripple effect that sent US marijuana stocks booming. Some stocks such as Tilray Brands... Read More »
To Tweet a Doobie: Twitter Is First to Announce Pot Ads Coming Soon
Social media giant Twitter just inhaled. Twitter recently announced it is allowing its advertisers to share, promote and offer content about CBD, THC, and cannabis products. It’s public knowledge that Elon Musk loves a marijuana tweet now and then, most often in his comments to tweets with “420 haha.”
Now, since numerous states have relaxed their rules for cannabis, and with many states allowing stores to legally sell it for recreational use, Twitter is doubling down on the new freedom for pot lovers.
Twitter announced it is changing its policies for advertisers in specific areas of the US and Canada where marijuana is legalized. The social media platform created a list of rules the advertisers must follow so that they will not break any advertising laws.
The new cannabis ads will appear on the Twitter feeds in states where the products are legal.
A blog post written by Alexa Alianiello, Twitter's head of ad sales and partnerships, says, “As of today, in certain US states, we have taken measures to relax our cannabis ads policy to create more opportunities for responsible cannabis marketing—the largest step forward by any social media platform.”
Twitter is the first major social media platform to embrace state-specific legal marijuana laws and offer paid advertising in the new industry. Currently, 21 states have legalized cannabis for recreational use.
The new Twitter cannabis policy says that advertisers will only be allowed in states where pot is now legal. The platform will only approve ads that offer “informational or brand-preference content,” meaning viewers will not see people stumbling around in a smoky daze.
Advertisers are not allowed to appeal to minors, make pot look like an upscale, envious lifestyle, offer to shop the cannabis or share their prices. Other restrictions as listed by Twitter include:
- Advertisers must be licensed by the appropriate authorities and pre-authorized by Twitter.
- Advertisers may only target jurisdictions in which they are licensed to promote these products or services online.
- Advertisers may not promote or offer the sale of Cannabis (including CBD– cannabinoids)
- Exception: Ads for topical (non-ingestible) hemp-derived CBD topical products containing equal to or less than the 0.3% THC government-set threshold.
- Advertisers are responsible for complying with all applicable laws, rules, regulations, and advertising guidelines.
- Advertisers may not target customers under the age of 21.
The new Twitter marijuana advertising business model reflects the national changes happening with the legalization of marijuana now in 21 states.
Piggybacking on this new legal cannabis industry are new state laws, new products such as edibles, and education about the differences between THC, CBD, and other items.
Any advertisement for Cannabis (including CBD– cannabinoids) content that is allowed, subject to the above restrictions, must in addition:
- Not appeal to minors in the creative, and landing pages must be age-gated and sales must be age-verified.
- Not use characters, athletes, celebrities, or images/icons appealing to minors.
- Not use minors or pregnant women as models in advertising.
- Not make claims of efficacy or health benefits.
- Not make false/misleading claims.
- Not show depictions of cannabis product use.
- Not depict people using or under the influence.
- Not encourage transport across state lines.
With the Twitter announcement, Amy Denison, the co-founder of the Cannabis Media Council, said her cannabis educational trade association was happy with the new advertising policy.
“It is a groundbreaking thing for many cannabis advertisers to be able to reach their markets and their audiences without doing any type of workarounds,” said Deneson.
Another enticement Twitter is offering to cannabis advertisers is that there is no minimum spend needed to purchase advertising. The platform is also fattening up its advertising offer by offering a one-to-one match for every advertising dollar spent by cannabis companies through March 31.
Twitter’s new advertising prices for cannabis sellers are coming at a time when the entire industry is suffering. In many states, falling prices and the existence of too much supply have created issues for marijuana legal business owners. Cannabis is also taxed at a much higher rate than typical products, causing prices to soar. For example in Colorado, the state imposes a 15 percent tax on all cannabis products. In Washington state, there is a whopping cannabis tax rate of 37 percent.
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