Can The Cannabis industry make more than the NFL?
Although TV ratings for NFL games have been on the decline, football is still the most watched sport in the United States. It is also considered a big industry, generating approximately $14 billion last season. Could the Cannabis industry surpass the NFL in terms of generating capital?
If projections from research companies Arcview Market Research and GreenWave Advisors are on target then by 2020 this may be the case. There certainly seems to be a long way to go, the U.S. marijuana market only generates half of what the NFL made in 2016. In 2010, NFL commissioner Roger Goodell announced a revenue target of $25 billion by 2027, to be on track they would have to generate approximately $18 billion by 2020. This only leaves the marijuana industry three and half years to top $18 billion. If the marijuana industry continues to increase revenue at the same rate as last year however then it would make a little over $19 billion by 2020.
Some analysts believe that projection may be pessimistic, however stocks and company growth can be evaluated regularly. California's legalization of recreational marijuana opens up a whole new market and some, being very optimistic, believe revenue may soar up to $50 billion by 2026.