Thursday, 20 May 2021
Wednesday, 19 May 2021
Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 567: Interview with Chris Walsh, CEO of MJ Biz Daily
Investor Ideas #Potcasts,
#Cannabis News and #Stocks on the Move; Episode 567: Interview with Chris
Walsh, CEO of MJ Biz Daily
Delta, Kelowna, BC, May 19, 2021 (Investorideas.com Newswire)
www.Investorideas.com, a global news source covering leading sectors including
marijuana and hemp stocks and its potcast site, www.potcasts.ca release today’s podcast edition of cannabis news and stocks to watch plus insight
from thought leaders and experts.
Listen to the podcast:
https://www.investorideas.com/Audio/Podcasts/2021/051921-StocksToWatch.mp3
Read this in full
at https://www.investorideas.com/news/2021/cannabis-potcasts/05191Interview-Chris-Walsh-MJ-Biz-Daily.asp
Hear Investor ideas cannabis potcast on iTunes
Hear the investor ideas potcast on Spotify
Today’s podcast overview/transcript:
Good
afternoon and welcome to another episode of Investorideas.com
"Potcast" featuring cannabis news, stocks to watch as well as
insights from thought leaders and experts.
In
today’s podcast Investorideas interviews Chris Walsh, CEO of Marijuana Business
Daily, where we discussed the state of the cannabis industry, the industry
expectations around federal reform in the US as well as how the last year of
changes has affected MJ Biz Daily and expectations around this year’s MJ BIz
Con in Vegas.
Chris Walsh took over
the CEO reins at Marijuana Business Daily Jan 2020 and has been a very visible
thought leader/analyst in the industry for the past decade.
When asked about the
last year for MJ Biz Daily, Walsh commented, “Last year the cannabis industry
itself did really really well, but for ourselves and our business model, it was
a really tough year, possibly one of the worst you could envision if a big
chunk of your revenues came from events. We had to really buckle down and
re-envision what we were doing and how we were doing it, and how we could serve
this industry in this difficult environment. Even though the cannabis industry
fared well overall, there was still a lot of uncertainty for everyone in the industry
both personally and professionally. We’re now on the tail end of this, knock on
wood, so as a business we’ve made it through a really difficult time and it’s
been quite the year and we’re really excited to come out of it.”
MJ BIz Daily went
through many of the same trials and errors that other event coordinators faced
in trying to pivot a live event to the online community. Walsh discussed what
they personally learned from their experiences, saying, “Our first approach was
to try to take what we were going to do in person and try to put it online, and
no one had really had to do this before in the event world. So that was our
strategy and what we learned was you can’t do that, and you can’t do it
effectively. Simply taking that experience and saying you're going to have the
same experience online just doesn’t translate. We looked at what happened, we
looked at what other events were doing, we got feedback and we tried to
re-envision MJ BIz Con. That really involved clearing the slate and looking at
what the industry needs in general right now. So we started there and it was
really about connections, networking, getting in front of clients and still
that education piece. So we built an infrastructure around that. We had a
product showcase, instead of a virtual show floor. We also realized that this
whole video zoom fatigue is real, so we had to shorten the content and deliver
it in bite sized chunks and make sure it's available on demand, because you're
not expecting people, like in a real event, to be captured with you for eight
hours long.”
MJ BIz Con is coming back this year to Vegas on October 20th-22nd,
and Walsh discussed the current interest they have received towards this year’s
event, saying, “as we came out of this and said MJ Biz Con was a go, we weren’t
sure what to expect. Were people going to come back? Do people have money to
spend and get out? What we’re finding is the demand is really really strong.
Will we be at 2019 levels, I’m not sure, but we certainly could be. All the
intel we’re getting is that companies in this industry, and professionals and
entrepreneurs are eager to get back out there. In fact we’ve been hearing many
people mention having conference fatigue from before and now they can’t wait to
get back to MJ BIz Con and to get back out there. It’s kind of like you don't
know what you have until it’s gone and I think people are starting to realize
that.”
Chris Walsh went on to
discuss some of the industry trends over the last year, what he’s been seeing
this year as more momentum builds around federal reform in the US and what current
industry expectations are surrounding federal reform.
Chris wMJ Biz Daily have also
recently launched their ow weekly podcast, Seed to CEO,
where Chris Walsh interviews a pro to reveal stories behind their success.
From
learning how to find funding for cannabis businesses; whether to focus on
cultivation, THC product manufacturing, or marijuana retail; common pitfalls to
avoid; predictions for cannabis legalization and where to find the next
opportunity as a cannabusiness entrepreneur.
MJ Biz
Daily also recently released their Annual Marijuana
Business Factbook, 9th Edition, which forecasts U.S. sales of
recreational and medical marijuana to reach $45.9 billion by 2025.
Other
key findings from the report:
●
In 2021, U.S. cannabis sales are expected
to reach $22 billion-$26.4 billion.
●
100% of investors expect the industry to do
better in 2021 than in 2020.
●
The cannabis industry will offer over
400,000 full-time jobs in 2021.
●
The new, adult-use market in New York
should reach sales of $2.5 billion by year five.
“2020
was an important year in cannabis,” says
Annual Marijuana Business Factbook editor Jenel Stelton-Holtmeier. “Many
marijuana businesses were declared essential during the pandemic, and more
states legalized cannabis markets. 2021 will see more states join in, and their
programs are getting started faster than we’ve previously seen.”
“There
is no doubt that marijuana is big business,” Chris Walsh, CEO of MJBiz,
observes. “Sales will soon exceed that of craft beer and other mainstream
businesses. There is clear momentum for exponential growth, with New York and
other states with dense populations starting legal sales.”
MJBiz’s Annual Marijuana Business Factbook
provides these and other exclusive cannabis insights for investors,
entrepreneurs and business owners, including:
●
Estimates of the U.S. cannabis industry’s
total economic impact.
●
Comparisons of cannabis sales to sales in
other industries.
●
Annual revenue and operating costs for
indoor cultivators.
●
Fastest-growing adult-use edibles and
topicals.
●
2020 revenue for cannabis retailers.
●
Global investment activity in the cannabis
industry by company type and year.
The 2021
version includes 41 charts and a state-by-state overview of regulations, taxes,
market conditions and what to watch for.
It is
available for sale, in print or digital format, at www.mjbizdaily.com/factbook.
For additional data:
Pamela
Moore - pam.moore@mjbizdaily.com
(720) 213-4057/ (443) 690-5210 (m)
Investor
ideas reminds all listeners to read our disclaimers and disclosures on the
Investorideas.com website and that this podcast is not an endorsement to buy
products or services or securities. Investors are reminded all investment
involves risk and possible loss of investment.
Learn
more about our cannabis podcasts at https://www.investorideas.com/Audio/Potcasts.asp
To
hear more Investorideas.com podcasts visit: https://www.investorideas.com/Audio/.
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