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With Q2 2023 in the books we want to share our quarterly round-up of states that issued dispensary/retailer licenses. We ended 2022 with 2,750 licenses, with Q1 2023 adding 699. Q2 saw the addition of 587 – 16% fewer than the preceding quarter.
In Q2, 4 states accounted for 66% of these licenses: New York, California, Michigan and Florida. This is the first time in years where Oklahoma was not at or near the top of the list.
Every quarter we spend some time opining on Oklahoma. This time the asymptote tells the story as the number of licenses issued approaches zero:
In looking across the 699 new licenses, it is illuminating to see which companies added stores. Based on the Cannabiz Media License Database, here are the 6 companies that added 7 or more licenses YTD 2023:
Finally, the table below shows the final Cannabiz Media tally of dispensary/retail licenses for June, 2023. The net change since Q1 is +360:
At the end of Q1, total store/dispensary licenses were up 4.9% from year end 2022. Counts are up 3% over Q1 2023. We will no doubt see more stores in states like California, Michigan, Florida and New York which approved 200 more this week. It is likely that Oklahoma will retain its lead as the market with the most stores for some time, unless there is a mass extinction event as they still have more than twice as many as California.
Ed Keating is a co-founder of Cannabiz Media and oversees the company’s data research and government relations efforts. He has spent his career working with and advising information companies in the compliance space. Ed has managed product, marketing, and sales while overseeing complex multi-jurisdictional product lines in the securities, corporate, UCC, safety, environmental, and human resource markets.
Cannabiz Media customers can stay up-to-date on these and other new licenses through our newsletters, alerts, and reports modules. Subscribe to our newsletter to receive these weekly reports delivered to your inbox. Or you can schedule a demo for more information on how to access the Cannabiz Media License Database yourself to dive further into this data.
Cannacurio is a weekly column from Cannabiz Media featuring insights from the most comprehensive license data platform. Catch up on Cannacurio posts and podcasts for the latest updates and intel.