Dec 22 (Reuters) - CbdMD Inc on Tuesday signed a one-year partnership with Joe Rogan that will make the cannabis-based gummies and bath-bombs maker the only company to advertise cannabidiol products on the comedian’s Spotify podcast.
The company is the latest to tie up with a celebrity as traditional advertising and marketing avenues have remained off-limits for cannabidiol makers, even as sales jumped during the coronavirus-induced lockdowns.
“We stepped up to the plate and committed to Joe for next year, which is a win-win for both of us,” cbdMD Chief Executive Officer Martin Sumichrast told Reuters.
CBD, or cannabidiol, is a non-psychoactive compound in cannabis which is legally allowed to be sold in the United States. It has found increased use in relaxatives and beauty products.
Rogan’s podcast, “The Joe Rogan Experience”, has featured several high-profile guests including Tesla Inc Chief Executive Officer Elon Musk and U.S. Senator Bernie Sanders.
It routinely featured among the top podcasts on Apple Inc’s charts, before moving to Spotify Technology SA’s platform in September.
CbdMD, which posted a 23% jump in fourth-quarter sales to $11.7 million, did not disclose financial details of the agreement with Rogan’s show.
Academy Award-winning actress Nicole Kidman, rapper Jay-Z, lifestyle guru Martha Stewart and singer Willie Nelson are among celebrities who have partnered with or launched their own CBD product lines. (Reporting by Manas Mishra in Bengaluru; Editing by Ramakrishnan M.)
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