Technology executives from Fox Corp., Hearst Television, CBC, Sony and Florical told a TVNewsCheck webinar last week that the lack of a “trigger point” and a shortage of personnel experts in managing IT infrastructures are among the factors slowing down the pace of the industry’s IP transition.
Baseball could be a blueprint for other sports organizations enter the CBD space after MLB scored an alliance with CBD maker Charlotte’s Web (note: the brand is not sold in dispensaries) last week. The deal marks first partnership between one of the Big Four pro sports leagues and a cannabis business.
In a recent action, the FDA issued 15 warning letters to companies marketing CBD products – warning them about marketing both for edible products and for health claims. The FDA also released a Consumer Update warning consumers about many of the potential risks of CBD use and included a litany of advertising issues that the FDA found problematic, beyond the simple issues of advertising products to be ingested and making specific health claims.
The cannabis business presents strong opportunities for broadcast’s core advertising, but it’s a legal and regulatory minefield. Still, there’s hope broadcasters can get a much-needed safe harbor to accept ads for properly vetted CBD and marijuana products via banking legislation in the Senate.
The developments surrounding the regulation of cannabis products, and the impact of that regulation on the ability of broadcasters and other media companies to run ads for these products, continue on an almost daily basis. What does it all mean for media companies that have been approached to advertise these products?
At this point, cannabidiol, or CBD, products seem to be sold in nearly every state in the country, and discussions about CBD’s effectiveness seem to be staples on national and local television talk programs. Broadcasters naturally ask whether they can advertise these seemingly ubiquitous products. Unfortunately, the state of the law on CBD at the current time is particularly confusing.