Cannabiz Media Archives - Green Market Report

Debra BorchardtDebra BorchardtJuly 31, 2020
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8min19056

Oklahoma has essentially been shunned by the largest multi-state operators (MSO’s) in the country. Most legal states tend to have a handful of MSO’s who plant their flags and make a big showing. Cresco Labs in Illinois or Trulieve in Florida and great examples of this. However, Oklahoma is a massively fractured market when it comes to ownership and the jury is out on whether it’s a good idea or not.

Oklahoma’s Market Size

Medical marijuana was legalized in Oklahoma through a ballot referendum in 2018. The state looked like it was on track to move forward for full legalization, but that has been delayed by the pandemic. The state has been on a licensing frenzy with over 7,000 businesses approved. 

Oklahoma is now forecast to make it to the top ten list of states for per capita spending on cannabis. The per capita spending as per a recent ArcView/BDSA report showed Oklahoma at $90.40 in 2019 spending and that is projected to grow to $226.40 by 2025. 

The state recorded $365 million in sales in 2019, the first full year, and that number is estimated to grow to $950 million by 2025. That will be even bigger than Pennsylvania’s estimated $770 million in 2025. The legit market took 30% away from the illicit market almost immediately. 

These numbers would seem to be enough to entice a big MSO to head to the Sooner State, but that hasn’t happened. According to Cannabiz Media, 6,088 license holders only have one license, while 619 held multiple licenses. There are none of the familiar names in the top 25 license holders list. 

Everyone Gets A License

One of the biggest differences for Oklahoma’s program is the liberal approach to licensing and the low 4% tax rate. Unlike the millions of dollars that it costs in most states to procure a cannabis license. it only costs $2500 to get a license in this state. A refreshing difference, but as one unnamed cultivation vendor put it, “I expect to see my products for sale in two years on CraigsList or eBay.” 

The state has registered 5.8% of the population for medical marijuana patient cards. That is expected to grow to 10% in 2025. By comparison, Nevada only registered 1.2% and Oregon was at 2.5% in 2014 at its peak. With no qualifying conditions, doctors are free to recommend medical marijuana for any reason they deem fit. Like other states, many of these patients are actually recreational users and if full legalization happens, they are likely to drop their medical cards.

Producers Paradise

The numerous dispensaries though are great for brands. Oklahoma is home to the second most dispensaries per capita, which equals 15.6 dispensaries per 100,000 residents. A new report from Verilife wrote, “It’s interesting to note that while Oklahoma has the most marijuana dispensaries per capita, it has generated the least amount of tax revenue from cannabis out of all the states where marijuana is legal. The state is home to nearly 600 dispensaries but generated only $70,000 from marijuana in 2018.”

According to LeafLink, Smokiez Edibles is the number one brand in the state. The brand also sells its products in California, Washington, and Oregon and comes from a California-based privately-held company called LoudPack Inc. This quiet brand has been amassing numerous awards for its quality and quickly looked to the state as a place to dominate. 

Top Oklahoma Brands on LeafLink in 2020 – 7/29/20

  • Smokiez Edibles
  • US Cannabis Pharma
  • Pharmicated
  • Cartel Oil Co
  • Sublime Brands OK

Top Oklahoma Products on LeafLink in 2020

  • Maui Waui Outdoor Flower from Argent Cannabis
  • KIMBO KUSH from Happy Hour Medicinals
  • Sublime 100mg Caramel Chew from Sublime Brands OK
  • Multi-Piece Watermelon 250mg Sweet Fruit Chews from Smokiez Edibles
  • 500mg GANJA GUMMIES from CANNA BASICS

Colorado-based edible brand 1906 said it was choosing to enter into the Oklahoma market in lieu of California and Oregon, due to the state’s burgeoning cannabis scene within its major cities such as Tulsa, Oklahoma City, and Norman. The brand is aiming to become not only the largest edibles company in Oklahoma but west of the Rocky Mountains. The promise Oklahoma holds is the brand’s first foray into becoming the market leader in the emerging region.

1906 CEO Peter Barsoom said, “Oklahoma is the most “free market” of medical and adult use markets with low barriers to entry for patients and business owners. As a result, you have a vibrant market with one of the highest per capita patient counts, competitive prices, and high accessibility (lots of dispensaries). Which had translated into one of the largest medical marijuana markets.”

He added, “The financial success of MSOs is dependent on regulatory arbitrage. Keeping competition out, prices high, and vertical integration requirements. So if those are the requisites of success for an MSO, Oklahoma is not an attractive market. The business model of most MSOs is dependent on a supply-constrained large arbitrage between the cost to cultivate cannabis and the cost the consumer/patient pays.” 


StaffStaffMarch 5, 2020
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3min8800

Full birth name:  Ed Keating

Title:  Co-founder & Chief Data Officer

Company:  Cannabiz Media

Years at current company: 5

Education profile:  I received a BA in Russian Studies with a minor in Economics from Hamilton College.  After moving to Chicago, I got an MBA from the Kellogg School at Northwestern University with concentrations in Strategy and Marketing.

Most successful professional accomplishment before cannabis: While working for a Fortune 500 publisher I launched a workflow practice system that helped public companies create, manage and file their key Securities & Exchange Commission filings electronically.

Company Mission:  At Cannabiz Media, we are proud to be the leading provider of go-to-market solutions for the cannabis and hemp industry by breaking down barriers brought on by confusing state-specific licensing and regulations. As the industry’s verified source of license holder contact information and operational data, we are fanatical about creating a simplified experience that holistically supports business development strategies by fusing lead generation, email marketing, and analytics, up-to-date regulatory information and news, compliance verification, and a sales CRM all within one easy-to-use platform. 

Company’s most successful achievement:  Bootstrapping a cash flow positive and profitable company in the tumultuous cannabis space.

Has the company raised any capital (yes or no): No

if so, how much?:

Any plans on raising capital in the future? No plans at this point.

Most important company 5-year goal:

Our goal is to better understand and penetrate the cannabis economy.  Worldwide we are tracking almost 100,000 cannabis and hemp licenses along with the companies that own them and the people who work in these businesses.  In the coming years, we’ll be increasing our relationships with key trade associations and the vendor community. This will provide our customers with one place to see and interact with the entire cannabis ecosystem.


Video StaffVideo StaffDecember 30, 2019

1min6330

Cannabis industry experts like Al Harrington from Viola and Ed Keating with CannaBiz Media believe there will be more consolidation within the cannabis industry in 2020. Sadly, some expect to hear of more failures as many entered the space thinking it would be easier that it is. Thank you for watching the Green Market Report! Be sure to subscribe to stay up to date with all out videos.


Video StaffVideo StaffMay 21, 2018

1min17060

The Green Market Report wanted to know what cannabis industry experts thought was the hottest sector in the industry. We asked these leaders at the recently held Cannabis Learn event in Philadelphia. Comments from Lori Glauser of Evio Labs, Ed Keating of Cannabiz Media, Emily Paxhia of Poseidon Asset Management, Jared Mirsky of Wick & Mortar and Matthew Nordgren of Arcadian Fund.



About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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