Newly-Formed Media Group to Focus on Harnessing Black Buying Power
BlackBlueDog.com Staff
Newly-formed media consortium to focus on investing in African-American consumerism
BET Networks has partnered many of the leading black media and marketing companies to form a specialized consortium. The consortium will launch the “#INTHEBLACK” campaign in an effort to encourage investments in the African American consumer marketplace while helping companies reach the African American audience more effectively.
“We are excited to partner with some of the nation’s most influential media and marketing groups to highlight the growing economic opportunity of the Black marketplace. As a collective, we are better positioned to demonstrate the value of targeting the black consumer audience and partnering with leading brands to help them succeed,” Debra Lee, Chairman and Chief Executive Officer, for BET Networks said.
Other participating companies include HuffPost BlackVoices, Black Enterprise, Burrell Communications, Cable Advertising Bureau, Essence Communications, GlobalHue, Inner City Broadcasting Corporation, KJLH Radio, Johnson Publishing Company, National Association of Black Owned Broadcasters, Nielsen, North Star Group, National Newspaper Publishers Association, One Solution, Radio One, TV One, Interactive One, Reach Media, Steve Harvey Radio, TheGrio, The Root, The Africa Channel, UniWorld Group, Vibe Media and Walton Isaacson.
The buying power of African-Americans is undeniable. African-Americans spend big when it comes to everything from cars, health and beauty products, baby care products, apparel, electronics and more.
Reports show that African-Americans make up 42 million of the American consumer pool and spend almost one trillion dollars annually.
The consortium plans to use its collective influence to highlight the value of engaging African Americans through black targeted media and agencies.
5 Responses to Newly-Formed Media Group to Focus on Harnessing Black Buying Power
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In the words of Sam Coooke,”It’s been a long time coming….”
BET is not a Black owned company and it is in their best interest to do this.
Too bad the NAACP, SCLC, Oprah and other well to do Black People, Black Organizations and Black Church’s aren’t doing this.
When will Black People and Black Organizations Lead their own path to prosperity?
UMOJA Research
Is this a joke or what how can you say B E T is a black owned media outlet are they not owned by white people white people who want to get as much of if not all our money, I bet they are partnered with others to help bring us to them, just so they can get any and all money we wish to spend, and to yo
u THE BLACK BLUE DOG HOW THE h**l ARE YOU DOWN WITH THIS!!!! I’M about to stop messing with you if this is the best you have to offer!
If the goal of this group is to increase the amount of Black dollars being spent at white owned companies, what’s new and advantageous about this to Black folks? Our so-called “Black Buying Power” is only “power” for those with whom we spend our dollars. Since we spend the overwhelming majority of our nearly $1 trillion with businesses other than our own, our so-called buying power is transferred to them and becomes “buying weakness” for us.
Some of the companies mentioned in the article are reputable and do have the Black consumer’s best interest at heart, but some have yet to show that they are nothing more than a vehicle to dumb-down Black folks while filling their own pockets and doing the bidding of the white owned corporations that own them.
If we are going to do anything that empowers Black people economically let’s please do something that makes sense as regards our current position in this country, like teaching entrepreneurship to our children, starting more viable businesses, and growing those businesses to the point of being able to hire our youth. We should also teach consumerism, the role we play in this economy and our dollars really can be leveraged to our benefit rather than to the benefit of others. Sorry for the long comment … just had to get the message across, and I hope I did.
Jim,
Well said…