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.