Nielsen Enters The Cannabis Industry
Nielsen Holdings PLC (NYSE:NLSN) is getting into cannabis.
The company best known for putting out television ratings has partnered with Headset, one of the top data and analytics service providers in the legal cannabis industry. The companies formed this strategic alliance to deliver “a read into the U.S. legal cannabis market for Consumer Packaged Goods (CPG) companies.”
What To Know
The first product of this relationship will be out soon, a report titled “The U.S. Cannabis Market Pulse Report.” This paper will seek to “provide a thorough overview of the legal recreational cannabis space from its infancy through 2018, including key market dynamics, cannabis-interested consumer perceptions and motivations, and insights into cannabis purchase dynamics and tendencies relative to CPG categories.”
Nielsen and Headset will also be working together to develop a full suite of capabilities for Canadian cannabis companies.
Why It's Important
Nielsen explained this move is part of a wider corporate strategy, focused on providing cannabis CPG enterprises with the necessary insights to thrive and expand in the cannabis space.
“Strategically partnering with Nielsen, the leading information and data company in the world, is pivotal in helping to validate Headset’s mission and the mission of the cannabis industry as a whole,” Cy Scott, CEO of Headset, told Benzinga. “Bringing together Nielsen’s unequivocal knowledge in the field of analytics services and Headset’s breakthrough cannabis market measurement data will provide crucial support in the development of the first ever legal cannabis industry within the US.”
Nielsen believes Headset is the right fit.
“Nielsen has a history of providing leading-edge analytic services for emerging categories and industries, and we are taking a similar approach with the introduction of our comprehensive suite of Cannabis related insight services,” Jeanne Danubio, President of Nielsen, North America, said in a press release. “We strongly believe that Headset is the right partner to complement our services, as we commence in our commitment to provide a complete view into the important legal U.S. cannabis market for our CPG clients.”
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