Adam JacksonMusic streaming platform Spotify, which claims a subscriber base that exceeds 220 million users, now includes Chicago-based Cresco Labs (CSE: CL) (OTC: CRLBF) among its advertisers.
The news comes as other prominent platforms also have adopted a more business-friendly stance towards marketing by marijuana companies.
“Audio streaming services represent a major opportunity for brands to reach large audiences in a targeted manner, and we’re excited to collaborate with Spotify to launch the first-ever cannabis ads,” Cory Rothschild, Cresco’s national retail president, said in a statement.
“Our advertising strategy is built on a data ecosystem enabling best-in-class targeting and measurement. Spotify’s platform will enable our marketing team to target our ads compliantly and profitably to our core shoppers,” he continued.
Cresco plans to utilize the music platform to target advertisements in its home state of Illinois, where the company has a large retail footprint.
The campaign’s focus is on promoting Sunnyside dispensaries, a retail brand under Cresco Labs. It includes 30-second audio spots and in-app digital banners that direct listeners and viewers to Sunnyside’s e-commerce platform. The marketing effort is complemented by various paid media strategies, including programmatic buying and native ads.
"This important partnership [with Spotify] is not only a step in normalizing cannabis, but it also showcases the sophistication and quality of marketing that we have unlocked at Cresco Labs." @coryrothschild https://t.co/fuzvgSSto9
— Cresco Labs (@crescolabs) September 7, 2023
