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
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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)
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