LAS VEGAS – CEO Terry Booth announced a multi-year agreement for Audacious to be the “Official CBD of Professional Bull Riders”, working with PBR, the world’s leading bull riding organization.
The multi-faceted partnership, which includes manufacturing and distributing PBR-branded CBD products, is one of the most expansive to date between a CBD brand and a major professional sports association and further normalizes the use of CBD in recovery related applications.
A groundbreaking element to the partnership is the upcoming launch of a full PBR-endorsed line of topical CBD products. These products include pain relief and recovery products, which feature proven pain relief ingredients such as menthol and lidocaine as well as a generous 500 mgs of CBD, available in roll-on, gel and spray formats. AUDACIOUS will be launching its new CBD product line under the brand Wreck Relief. The products will debut on-line and at the 2021 PBR World Finals, Nov. 3 – 7 in Las Vegas, marking one of the first times a major professional sports organization has licensed a CBD product. These products will also be available for large retail chains in 2022.
The multi-year deal with PBR is the company’s first and only sports sponsorship to date. It utilizes PBR as a national brand building and awareness platform to build visibility among the sport’s 83 million fans[1]. The total CBD market in the U.S. is anticipated to reach $23 billion by 2023, according to industry insider estimates, providing a huge opportunity for a brand that combines quality with distribution and nationwide visibility. Through the exclusive nature of the PBR partnership, the Company will be achieving this, creating a sustainable competitive advantage.
Beyond its large fanbase, PBR has a significant footprint on social media, with annual impressions approaching 2 billion and close to 700 million video views. Furthermore, CBS broadcasts PBR events, reaching an audience of millions. This visibility provides very significant coverage for the new product line among a demographic that has been found to have a higher than average propensity to purchase products that Audacious is launching.
The consumer-facing elements of the partnership on behalf of the Wreck Relief brand will feature in-arena commercials and digital signage at PBR events, TV-visible signage in the bucking chutes and rider walk off areas, custom content on PBR’s social and digital channels, and brand entitlement of the PBR Sports Medicine team, which will be renamed the Audacious PBR Wreck Relief Sports Medicine Team.
Audacious CBD products will also be integrated into the PBR Sport Performance Center in Pueblo, Colorado., the first of its kind training, development and recovery center designed specifically for western sports athletes, while serving athletes of all sports. PBR athletes will also participate in a research program evaluating the benefits of CBD products.
Sean Gleason, Commissioner and CEO of PBR, stated “Professional bull riders are considered among the toughest athletes in sports, followed by hard-working fans who often hold physically demanding jobs that take a toll on their bodies. PBR has long been an innovator in providing reach and value to our brand partners, and we are very excited to again break new ground in helping AUDACIOUS tell their story while we also participate in researching the benefits of CBD products for our athletes.”
Terry Booth, Audacious CEO, added, “CBD as a category, we believe, has incredible potential, especially in the wellness space. The partnership with PBR provides us with a very significant competitive advantage over other companies with CBD product due to the credibility of our partner. This is another bold move that shows how AUDACIOUS, our capabilities and what we stand for resonate with large, relevant organizations. PBR, which is part of Endeavor (NYSE: EXK), is an amazing organization that is doing exceptionally well, and we are proud to have been selected as their exclusive CBD partner.”