Raising Cannabis Capital 0060: High Times

"Raising Cannabis Capital' series High Times CEO Adam Levin talks with host Dan Humiston about overseeing this 43-year-old cannabis media giant's expansion.  How he's using the capital that they're raising to purchase other publications and conferences to create a mega cannabis media company under the High Times brand.

 Produced By MJBulls Media

MJBulls 0060 High Times f.mp3 | Convert audio-to-text with Sonix

Dan Humiston:
Today's show is brought to you by 3C comprehensive cannabis consulting helps clients design build and optimize their cannabis business from initial assessment and planning through operational ization and ongoing management. To learn more about how their services are tailored to meet the unique goals and objectives of each of their clients. Go to 3C cannabis dot com and for a limited time 3C is giving all MJ blues listeners an additional 10 percent off their fees just for mentioning that you heard it on the show go to 3 C cannabis dot com.

Adam Levin:
So we now have a few different brands under the high times umbrella including Green Rush daily dough and culture and then we just announced we signed an agreement a definitive agreement to acquire the big show which that B2B conference think that there's an amazing opportunity in the conference space and really reuniting these brands with a single Salesforce and really connecting brands to consumers through different mediums and platforms.

Dan Humiston:
From Buminit media it's the MJ bulls podcast a show about Raising Cannabis Capital. I'm Dan Humiston. And on today's show the CEO of the cannabis industry Goliath High Times stops by to tell us about this multimedia company's plans for the future.

Dan Humiston:
Today MJ MJBulls Raising Cannabis Capital series we're joined by Adam Levin CEO of High Times. Adam thanks for being on the MJBulls Podcast day.

Adam Levin:
Thanks for having me.

Dan Humiston:
You know High Times magazine it's such an iconic brand throughout the world. Like for it was over 40 years the magazines kind of in the heart and soul.

Dan Humiston:
It's been the voice of the industry. But you didn't start it in 2016 you purchased this company. Can you tell our listeners how you did that.

Adam Levin:
So I purchased the media company so it's more than a magazine today. I mean it's 43 years old and started by Tom facade really as a farce initially. But I purchased along with a group of investors that I was led by myself in March of 2017 actually the media properties that works high times at High Times Dot Com and 420 dot com in March of 2017 and we bought 60 percent for that at a valuation of 70 million dollars.

Adam Levin:
Wow. I'm sure all my listeners know about the magazine. I think the point that most people don't realize is that it is way bigger than a magazine. No it's a you know it's a full blown media company. Maybe talk about some of the other verticals that are under the high times and umbrella.

Adam Levin:
So we now have a few different brands under the high times umbrella including Green Rush daily dough and culture. And then we just announced we signed an agreement a definitive agreement to acquire the big show which is a B2B conference. I think that there's an amazing opportunity in the conference space and really reuniting these brands with a single Salesforce and really connecting brands to consumers through different mediums and platforms. So obviously have high times dot com and 420 dot com and the green rush daily and all these owned and operated websites. We also manage some other third party traffic today including all of our Instagram and Facebook channels but literally have nearly 30 sales people selling media placement and other services business services today that include digital ad branding services to really companies that want to reach this kind of consumer.

Dan Humiston:
I've had so many guests on this show who are struggling with the problem of getting to that cannabis demographic. And I think that's where the value of your company your organization is the you talk directly to the consumer you these people are coming to you.

Adam Levin:
And that consumer is highly sought after like you said today. I think it's much different than it was five 10 years ago when you know you just wanted to stoners weren't that sought after demographic. Today companies in the space that want to reach consumers have capital they have capital to spend so that's great for our business and really gives our business the ability to grow. It's having a customer that can pay for service and obviously are establishing themselves as brands. To me there is no bigger brand than high time so we have that credibility as a trusted brand and a trusted partner from that 43 years of heritage that we have where we've fought the fight to end prohibition today are helping brands really reach that consumer. Like you said.

Dan Humiston:
No it's not just cannabis brands that are having trouble reaching the consumer it's mainstream brands in your mainstream brands partnerships today and Toyota.

Adam Levin:
I mean our advertisers who would have ever thought five years ago that brands like that would be reaching consumers through high tech and you're just touching the tip of the iceberg as things continue to change.

Dan Humiston:
You're the one that has access this is incredible thing.

Adam Levin:
So I mean listen I think that this is literally this is one of the fastest growing segments of our economy throughout the world today. Yeah for sure we're looking at opportunities across the world internationally and going to Europe next week. We're excited by it and the worldwide expansion. You look at what went on in Thailand last week where Thailand announced medical approval initial approvals there a medical program and look what's happening in Israel. Who would have ever thought the UK would turn like they did when they were so into a CBD even last year.

Dan Humiston:
I want to take a minute to tell everyone about an exciting free opportunity. One of our former guests good harvest company is offering retail operators in cannabis brand managers in the adult use market. Good Harvest Company is preparing to launch a platform which uses customers buying and shopping behaviors to help brands effectively reach their customers and for a limited time good harvest company will offer participating companies free access to their data in return for their feedback. To learn more go to good harvest.co.

Dan Humiston:
Let me switch gears for a second because last year you guys were on the brink of doing an IPO and most people were predicting it was going to be one of the biggest cannabis IPO ever. Everybody was all excited and you paused and you gave all your subscribers and all your loyalists an opportunity to purchase the stock in advance. Why do you do that.

Adam Levin:
Well I think somewhere candidly I think hindsight's 20 20 and I wish I I chose to go back to merge with an existing Nasdaq public company and when we looked at the economics of that transaction for our shareholders and really at the opportunity to. Wrested from this new JOBS Act regulation it gave us a unique opportunity to really give back to our fans and consumers. And today we have nearly 20000 thousand shareholders subscribe to the reggae and you know you can buy shares online. You know I think a great ability to use the traction that the brand has as the most well-known brand in cannabis and really to get back to our consumers will consume oil for 40 plus years. I feel like literally I you know I see it all the time that I pinch myself because I've been given this opportunity as a as a cannabis consumer for so many years and you know I was one of the first medical patients in California back in the late 90s and it's come so far.

Dan Humiston:
It's exciting to see and it's so consistent with the industry you cut out bankers and you just went direct to the people you see 20000 just about 20000.

Adam Levin:
I don't know the exact number but about 20000.

Dan Humiston:
Like I said it's so consistent with the values of this industry and I think it says a lot about your management style and approach that you guys are taking. Now do you ever plan to do an IPO or are you just going to compete.

Adam Levin:
Why do it when you have 20000 so you practically do an IPO. It leads to an IPO. OK we'll go public. Think with Allison the FCC has been shut down by the current government snafu where we have to shut down so it slows down the process a little bit. You know we're right on the brink of going public and you know I think we've wrestled with a lot of the challenges that other pe people and other companies have maybe not in the same way because high times has this brand obviously being the brand that we are we have opportunities in the United States which is obviously one of the largest markets the largest market in the world today. You know we still have these antiquated drug laws that prohibit and create hurdles to being a publicly traded company even though we're just a media company. We're not touching the plant. There would be nothing bigger than a high times branded dispensary whether we go into the dispensary business itself or continue on as a licensing company. Think about how many dispensaries are going to be opening over the next 10 years and instead establishing their own brands. Why not just use the high times perhaps to create.

Dan Humiston:
Is this the crazy thing I mean like the Disney of the cannabis industry your name is so so synonymous with cannabis.

Adam Levin:
Exactly. And there's no one else like it. And that's the unique opportunity that exists for a company like ours.

Dan Humiston:
So I started I was going to ask you what your post IPO expansion plans are.

Dan Humiston:
But we don't have time on this podcast to go through all of the things that you could do that is so cool. Well we've been speaking with Adam Levine the CEO of pi times magazine in all of High Times information. Adam's information will be on the on cable's website including Will Adam I should ask you this ahead of time. But can we put the link to your website where people can purchase more stock if they're aware of it.

Adam Levin:
I would love it and courage and reach out if anyone has questions and it's an honor to lead this company and excited about our future.

Dan Humiston:
Well it was an honor to have you on the show Adam. Hopefully we'll talk to you again down the road.

Dan Humiston:
So good luck. Thanks.

Dan Humiston:
Today's show was brought to you by a former guest cliintel Capital Management Group is a cannabis investment firm with a verse investments throughout all sectors of the cannabis industry. Listen to MJ bulls Episode 24 or go to client tell Cliintel capital dot com. To learn more.

Dan Humiston:
Thanks for listening to the MJBulls Podcast. To learn more about today's guests or to become a guest. Visit our Web site at MJBulls.com. Today's show is produced by Buminit media with original music composed by Jamie Humiston. I'm Dan Humiston and you've been listening to the MJBulls Podcast.

Convert audio to text with Sonix. Sonix is the best online audio transcription software

Sonix accurately transcribed the audio file, “MJBulls 0060 High Times f.mp3” , using cutting-edge AI. Get a near-perfect transcript in minutes, not hours or days when you use Sonix. Sonix is the industry-leading audio-to-text converter. Signing up for a free trial is easy.

Convert mp3 to text with Sonix

For audio files (such as “MJBulls 0060 High Times f.mp3”), thousands of researchers and podcasters use Sonix to automatically transcribe mp3 their audio files. Easily convert your mp3 file to text or docx to make your media content more accessible to listeners.

Best audio transcription software: Sonix

Researching what is “the best audio transcription software” can be a little overwhelming. There are a lot of different solutions. If you are looking for a great way to convert mp3 to text , we think that you should try Sonix. They use the latest AI technology to transcribe your audio and are one my favorite pieces of online software.


Cannabis Podcast Network