In many states such as Colorado, California, and Montana, where drugs for health purposes is legal, local newspapers have been making a large amount of unexpected revenue from marijuana advertisements. While nobody expected to witness such huge benefits from advertisement's with names such as, "The Rolling Paper," "Chronic-le," "Mile-High Mike's," and "Happy Buddha and the Healthy Connection," local papers have continued to publish these without a doubt. In Denver, money from advertising for marijuana-related business is 15 percent of the Weekly Westwards revenue this year, as well as 40 percent of its classified advertising revenue. Stephanie Pressley, the publisher for The Daily Chronicle states, "My point of view is, for the moment at least, its legal. The joke around here is that its a budding business." The Daily Chronicle generates $7,500 a month for marijuana advertisements. It will be interesting to see if this business strategy continues and what effects it will have on other local papers.
- Matt DiPietrantonio
http://www.nytimes.com/2010/10/05/business/media/05pot.html?_r=1&ref=todayspaper
Ajay Bohra
ReplyDeleteSo it seems that not only will the legalization of marijuana be a great form of tax revenue, but also a way to stimulate sectors of the market that have not been tapped. The legalization of a drag that will probably be more of a recreational product then for its medicinal value will most likely strengthen the economy for some time. At least till the word is out. Then, as people will all know of it, the great amount of money being used to promote the roduct will die. I agree that this method is a great way to make money for both the government and businesses, but how long will/can it last before the benifit are not so much more than the costs.