DENVER, Nov. 14, 2016 (GLOBE NEWSWIRE) -- Bang Holdings Corp. (OTCQB:BXNG), through its wholly owned subsidiary, Bang Digital Media - a brand manager, digital content provider, and influencer-based marketer to the cannabis industry, today announced it believes that laws legalizing recreational cannabis use in California, Massachusetts, Maine and Nevada, along with medical marijuana initiatives passed in Montana, Florida, Arkansas, and North Dakota are game changers for their business, and that of their clients.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/7bf08d80-06f6-4955-a4b1-f645d149760a.
“The legalization of recreational and medical cannabis in already tourist-friendly states like California and Nevada unlocks massive potential for industry growth,” said Bang Holdings CEO, Steve Berke. “California alone represents the sixth biggest economy — not just in the United States — but in the world. We believe that the business opportunities are vast.”
Arcview Market Research estimates California could be a $6.5 billion marijuana market by 2020.
Nationwide, legal cannabis sales overall jumped 17 percent, to $5.4 billion, in 2015 and are expected to grow by 25 percent this year, to $6.7 billion, according to Arcview Market Research, and by 2020 legal cannabis sales in the United States are projected to hit $21.8 billion.
Once the legal weed industry ‘grows’ in these newly legalized states; and dispensaries, security firms, growers, banking outlets, and ancillary retail operations spring up, there will be a void of experienced cannabis marketing and advertising professionalism.
That’s where Bang Digital Media will step in.
“Even with the majority of Americans now saying they support cannabis legalization, social media platforms like Facebook and Twitter and advertising providers such as Google still have a ban on cannabis-related advertising,” Berke said, adding that “Bang has honed the perfect mix of technical prowess and creative aptitude necessary to generate successful marketing campaigns for our brands and clients.”
Bang isn’t just setting their sights on the burgeoning U.S. weed market.
In 2017, Canada is expected to legalize cannabis for adult use nationwide. Audit and tax firm Deloitte estimates legal marijuana in Canada will amount to a $22.6 billion industry.
“We’re immensely excited about the growth potential these new markets will provide,” Berke said. “Next year may prove to be a banner year for advertising and marketing in the cannabis industry, and we are looking forward to monetizing our beta platform in 2017.”
About Bang Holdings Corporation
Bang Holdings Corporation (OTCQB:BXNG), through its subsidiary Bang Digital Media, provides brand management, cannabis related digital content and influencer-based marketing for the cannabis industry. While major media providers restrict online marijuana advertising, Bang Holdings’ marketing networks allow cannabis companies to directly reach cannabis and cannabis equipment consumers.
Since launching its first digital channel 4TwentyToday across multiple digital platforms in 2014, Bang Digital Media’s network has grown to reach more than a million engaged enthusiasts and has generated hundreds of millions of content views. Bang’s expanded network of cannabis-friendly social influencers reaches an additional twenty million subscribers. For more information, please visit www.bangholdings.com.
Certain matters discussed in this press release may contain statements, estimates and projections that involve risks and uncertainties in Bang Holdings' business that may cause actual results to differ materially from those anticipated by the statements made herein. Such statements, estimates and projections constitute forward-looking statements within the meaning of the federal securities laws. Bang Holdings undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The recipient of this information is cautioned not to place undue reliance on forward-looking statements. No representations or warranties are made as to the accuracy of such forward-looking statements or whether any of the projections included herein will be realized.
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Source:Bang Holdings Corp.