Iconic musician and lifelong cannabis connoisseur David Crosby is bullish on weed and CBD. In fact, he’s bullish enough to be willing to consider putting his globally known name and face on a cannabis and CBD brand.
Unlike others who have jumped blindly into manufacturing, Crosby and his partner, longtime friend and entrepreneur Steven Sponder are set on licensing Crosby’s famous name to a cannabis and CBD company and leave the manufacturing, marketing and retailing to the experts – a capable cannabis company they will hand pick together. Sponder explained that, "David's role will be guide where needed."
“David Crosby is the voice of a generation. If his face is on a cannabis or CBD package, people will know it’s quality, they’ll try it, and they’ll come back for it – and that’s the tangible value we bring. We’re holding out for a partner that gets Crosby's audience and knows how to market to them. We're also holding out for a company that understands the industry and has a long term prospect for success.” - Sponder said.
The "Pied-Piper of Cannabis"
Crosby, a two-time Rock and Roll Hall of Fame inductee for The Byrds and Crosby, Stills, Nash and Young has earned a right to be dubbed a king of weed – or as Christian Groh, co-founder of Tilray and Privateer Holdings, called him in a recent conversation, “The Pied-Piper of Cannabis.” After all, Crosby’s the person The Beatles turned towards to point them to the highest quality cannabis when they visited America.
Crosby says he firmly believes cannabis will be federally legal in the U.S. within the next few years as more U.S. states and countries around the world continue legalize it. “It’s all about the tax revenue. The states that are doing it get money for their roads, schools and hospitals,” said Crosby, a 50+ year cannabis connoisseur and founding member of both Crosby, Stills Nash and Young, and The Byrds.
Cannabis, Baby Boomers And Celebs
It’s estimated that there are 75 million baby boomers (aged 45 to 75) in the U.S. Boomers are, by far, the largest segment of the population today, and that’s translated into their massive purchasing power. In fact, boomers currently concentrate 70 percent of the total disposable income in the U.S., with data showing cannabis consumption among this group is on a rapid surge.
Crosby believes he can leverage his name and popularity among baby boomers to further advance cannabis use in this demographic.
Chris Walsh, founding editor and vice president of Marijuana Business Daily, explained celebrities have a big influence on cannabis buying decisions, possibly like no other force. “Our research has found that consumers are generally willing to pay a 25 percent premium for products with a celebrities name plastered on them versus fairly identical products without that star power. It’s not really a surprise though, as this is typical of consumer behavior no matter the product,” he said.
About the name ‘Might Croz’
Crosby and Sponder selected the name “Mighty Croz” for their brand, referencing Crosby’s nickname. In addition, this will allow them to sell Mighty Croz products in places like Canada that do not allow celebrity names to be directly used on cannabis products. Again, they highlighted they plan to leave the naming and packaging details to the licensor.
Who will walk home with the prized mustached face of David Crosby’s is yet to be determined.
To discuss licensing David Crosby's iconic name for your cannabis or CBD brand, contact Steven Sponder here.
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