Publishing house, MediaCentral, enters the eCommerce market as a strategic move to introduce new revenue streams to the company
- MediaCentral launches beta testing for new hemp-based CBD eCommerce marketplace through platform Canncentral
- The Hemp CBD market is expected to be worth USD26.6 billion by 2025
- The eCommerce marketplace will allow advertisers to target the niche audience in a new way, while providing CannCentral readers an opportunity to easily obtain new products
TORONTO, ON / ACCESSWIRE / July 16, 2020 / Media Central Corporation Inc. (CSE:FLYY)(FSE:3AT) (“MediaCentral” or the “Company”) today announced that its wholly owned property Canncentral.com (“Canncentral”) has entered into beta testing for their new CBD eCommerce marketplace. One of the first to launch in Canada, the eCommerce marketplace will leverage MediaCentral’s 6.5 million readers and offer manufacturers and retailers a platform to sell their legal and regulated hemp-based CBD products as well advertise on Canncentral.
Canncentral is a digital platform dedicated to covering the latest in cannabis and psychedelic news, acting as an authoritative voice in the wellness market. The eCommerce marketplace on Canncentral will offer retailers and manufacturers a built-in niche audience and competitive rates as well as the ability to leverage Canncentral’s growing traffic to develop their own segmented mailing lists. Additionally, retailers will be able to customize their stores on the marketplace, offering a unique branded experience for the shopper, maximizing on its capabilities.
In a study done in 2019 by MarketsandMarkets, it was estimated that by 2025 the CBD Hemp market will grow to 26.6 billion USD, up from 4.6 billion USD in 2019. The study also showed a compound annual growth rate of 34 per cent during the forecast period proving itself as a smart and worthwhile investment.
“There’s no question that CBD has been growing in popularity for years.” said Brian Kalish, CEO of MediaCentral. “Research shows us that the market is still trending upwards and consumers will continue to seek and use CBD for many years to come. It is a natural progression and tactical decision for us to leverage our wellness site and elevate Canncentral’s platform into a shoppable experience for our readers. Brands will also benefit from this move as they will be able to expand beyond traditional banners and sell product through the eCommerce marketplace. We will leverage our significant 6.5 million readers through omnichannel marketing across all our platforms to further drive traffic to our new eComm site.”
The introduction of shoppable media sites has proliferated over the last several years with popular publications like Highsnobiety, Popsugar, LL Cool J’s Rock the Bells, and Miss Grass all introducing ecommerce to their site.
“By introducing shoppable content we can directly connect our readers to a product they are interested in. This turns intent into action and creates a seamless and integrated experience for our readers,” said Kalish. “We are a modern media publisher and are exploring different streams of revenue so that we can continue to produce and share compelling, award-winning journalism across all our titles. We look forward to continuing to innovate, modernize and monetize our publications.”
Canncentral will continue to provide regular coverage on cannabis and psychedelics and will distribute stories omnichannel through MediaCentral’s other titles including NOW Magazine and Georgia Straight. The Company expects to launch its CBD marketplace later this year.
About Media Central Corporation Inc.
Media Central Corporation Inc. (CSE:FLYY)(FSE:3AT) is an alternative media company situated to acquire and develop high-quality publishing assets starting with the recent acquisition of Vancouver Free Press Corp., the purchase of NOW Communications Inc. and the launch of digital cannabis platform CannCentral.com and ESports outlet ECentralSports.com. MediaCentral is consolidating and digitally monetizing the over 100 million coveted and premium consumers of the approximately 100 alternative urban publications across North America, creating the most powerful audience of influencers.
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About Canncentral Inc.
With unique daily content appealing to both new and experienced cannabis consumers, Canncentral is poised to become the leading digital publisher for all things cannabis. Presenting authentic news and lifestyle content through a verified lens, Canncentral is emerging as an industry leading authority on knowledge, product and insight for cannabis enthusiasts, patients and investors around the world. Canncentral Inc. is a wholly owned subsidiary of Media Central Corporation Inc. (CSE:FLYY)(FSE:3AT).
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Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release may include, but are not limited to, statements with respect to internal expectations, expectations with respect to estimated margins, cost structures, and cost structures in the media industry. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the media industry generally, income tax and regulatory matters; the ability of MediaCentral to implement its business strategies; competition; currency and interest rate fluctuations and other risks.
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SOURCE: Media Central Corporation Inc.
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