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Prominent Agencies And Marketers Are Ramping Up Their Ad Commitment To Minority-Owned Media – Forbes

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3 years ago

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The killing of George Floyd and the subsequent protests has triggered a call to action in the advertising industry to invest a greater amount of their budgets to minority owned media companies. As a result, every prominent media holding group recently launched a separate division with the objective to facilitate and encourage their clients to make long-term investments and a greater portion of their ad budget to media companies owned by minority groups that target multicultural audiences. Additionally, several “blue-chip” marketers have separately announced their own plans to allocate more ad dollars to minority owned media outlets.

Many of these announcements occurred during the upfronts when agencies are registering their client’s budgets and negotiating billions of ad dollars for the upcoming year. Here is a rundown of these recent announcements.

GroupM: In May, the WPP-owned media company launched the Media Inclusion Initiative, an integrated investment strategy to support and grow diverse and Black-owned media companies and creators. The initial focus will be on Black-owned media and creators. GroupM, the world’s largest media investment company, will invite their clients to pledge at least 2% of their annual ad spend on Black-owned media. In June, twenty GroupM clients had committed to this initiative.

IPG Mediabrands: In May, announced a commitment to spend a minimum of 5% of ad budgets in Black-owned media channels across all clients, in aggregate, by 2023. IPG also launched their first annual Equity Upfront™ to highlight the importance of Black-owned companies that target Black audiences. Among the media companies participating were the Allen Media Group/Entertainment Studios, BET Network, Essence Communications, Urban One ReachTV, Revolt, The Source, Blavity, Ebony along with a number of IPG clients. The goal is to expand to other multicultural platforms in the future. In June IPG announced a partnership with ReachTV, a Black-owned in-airport linear TV channel.

Dani Benowitz, US President, MAGNA says “We saw the critical need to move beyond intent and into actionable steps with minority and Black-owned media partnerships. This young and affluent audience shapes the culture, is entrepreneurial and drives growth. At MAGNA and Mediabrands, we presented the first Equity Upfront, in an effort to reverse long-standing inequities in the advertising industry. We also launched our partnership with ReachTV so our clients could see the immediate benefit of how minority-owned media companies not only provide them with exciting content environments, but also closely connect them with highly desirable and hard to reach consumers in engaging ways.”

Dentsu: Also in May, Dentsu International announced the creation of a separate, stand-alone division to promote diversity in media and support minority-owned companies. The new group called Economic Empowerment, will combat the existing inequities by creating benchmarks when clients are investing in minority owned media and reaching diverse audiences. The unit will support both established and up and coming media companies as well as offer strategic consultancy services to clients along with feedback to media owners.

Omnicom

OMC
: In June, Omnicom announced the launch of Diverse Content Creators Network which targets minority-owned publishers and content creators. The plan is to tap Omnicom clients into content from Asian, Black, LatinX, and LGBTQ+ creators across all media platforms and eliminate any barriers of ad investments. These creators include actor Will Smith (53.8 million Instagram followers), director Ava DuVernay (2.7 million Twitter followers) and singer Jason Derulo (46.2 million TikTok followers) as well as famous web creators. Furthermore, Omnicom will add a programmatic element with the goal of overcoming built-in biases especially with smaller minority publishers that typically wind up toward the bottom of programmatic bidding.

Havas: In July, the Havas Media Group started BIPOC (Black, Indigenous and People of Color) Media Connections. The goal is to assist advertisers to allocate more ad dollars to Black and Hispanic owned U.S.-based radio stations. Havas says 180+ minority owned radio stations have joined. Last year, Havas had launched a social equity marketplace that facilitated their clients to invest ad dollars in underrepresented Black, Hispanic and LGBTQ+ owned media companies. A number of HMG clients have enlisted in the initiative. Havas has been expanding the program to global markets. 

Publicis: In July, Publicis launched a cross-industry consortium called The Once and For All Coalition: a multi-year, industrywide initiative to remove barriers to equitable financial opportunity and representation of ethnically-diverse suppliers to help its clients uncover opportunities that mirror their brand values and drive growth with audiences in a multicultural world.

“The Once and For All coalition was created to address a legacy challenge to our client’s business growth, which is the ability to sustainably evaluate, support and invest with ethnic minority owned or targeted businesses to drive superior performance with communities of underrepresented backgrounds,” said Jason Smith, President, Diversified Investment at Spark Foundry, a part of Publicis. “We felt a strategic need to approach this critical growth area with a comprehensive, collaborative, measurable and open-source approach built off industrywide representation and an eye toward the rapidly changing dynamic of our culture.”

Publicis says 21 clients have signed on for the first wave of participation along with 23 minority owned and targeted supplies from traditional and emerging media. The early emphasis will be on Black and Hispanic owned media. In addition, a number of marketers have pledged greater advertising support to minority owned media outlets.

Coca-Cola: In June, the Atlanta-based Coca-Cola Company

KO
vowed to almost double their ad spending with minority owned media. Coca-Cola has announced their ad spend will be five times higher in minority owned media when 2021 is compared to 2020. Furthermore, by 2024 Black, Hispanic, Asian American and Pacific Islander (AAPI)-owned media will account for 8% of Coca-Cola’s annual ad spend in North America, resulting in an increase of at least $500 million in five years. Coca-Cola also said their U.S. employee population across all positions will mirror the U.S. census for race and ethnicity. 

General Motors: In May, General Motors charted a “five-point action plan” to amend how they partner with diverse owned media companies and their audiences. Historically one of the top marketers in ad spend, the Detroit-based carmaker announced they would allocate 2% of ad spend in Black-owned media spend in 2021, double it to 4% by 2024 and then double it again to 8% in 2025. General Motors was cited by Black-media owners for spending less than 0.5% of their ad budget on Black-owned media, although GM

GM
disputes the figure. The carmaker also had a virtual meeting with members of NABOB (National Association of Black Owned Broadcasters) to make their commitment known. GM also plans to invest $50 million over the next decade to fund diversity in sponsorships and marketing.

McDonald’s

MCD
: The quick service restaurant announced plans to double by 2024 their marketing dollars toward media companies, programmers and production companies owned by Black, AAPI, females and the LGBTQ community. McDonald’s plans to increase their national ad spend to diverse owned media companies from an estimated 4% this year to 10% in 2024. As part of their marketing strategy, McDonald’s will increase their national ad dollars to Black-owned media from 2% this year to 5% in 2024. McDonald’s said they also cultivate long-term relationships with minority owned media companies.

Other blue-chip advertisers announcing plans to commit to minority owned media include.

·       Target

TGT
, a GroupM client, announced plans to invest $2 billion in Black-owned businesses by the end of 2025.  

·       Verizon

VZ
announced plans to increase their ad spend in Black-owned media companies.

·       The goal of Procter & Gamble’s

PG
“Widen the Screen” initiative is to improve the image of Black life on screen and promote Black creators in film, television and advertising. Procter & Gamble also has plans to invest more ad dollars in minority-owned media.

The multicultural consumer is an attractive target for advertisers. Their population is growing; within 25 years, the Census Bureau projects non-Hispanic whites will account for less than half the U.S. population. The buying power of minority groups in the U.S. is exploding, totaling $4.2 trillion in 2020 and forecast to be $5.2 trillion in 2023. In addition, the multicultural market presents a desirable youthful target for marketers, the median age of Hispanics is 30, for Blacks it is 35 and it is 38 for Asian-Americans, compared to 44 for non-Hispanic whites.

Nonetheless, support of minority owned media and their target audience has been sluggish. For example, Nielsen’s Ad Tel reports Black-owned media companies account for less than 2% of total ad dollars spent in 2020 despite accounting for 13% of the U.S. population.

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Sutherland House Experts Book Publishing Launches To Empower Quiet Experts

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9 hours ago

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September 19, 2024

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Sutherland House Experts is Empowering Quiet Experts through
Compelling Nonfiction in a Changing Ideas Landscape
TORONTO, ON — Almost one year after its launch, Sutherland House Experts is reshaping the publishing industry with its innovative co-publishing model for “quiet experts.” This approach, where expert authors share both costs and profits with the publisher, is bridging the gap between expertise and public discourse. Helping to drive this transformation is Neil Seeman, a renowned author, educator, and entrepreneur.

“The book publishing world is evolving rapidly,” publisher Neil Seeman explains. “There’s a growing hunger for expert voices in public dialogue, but traditional channels often fall short. Sutherland House Experts provides a platform for ‘quiet experts’ to share their knowledge with the broader book-reading audience.”

The company’s roster boasts respected thought leaders whose books are already gaining major traction:

• V. Kumar Murty, a world-renowned mathematician, and past Fields Institute director, just published “The Science of Human Possibilities” under the new press. The book has been declared a 2024 “must-read” by The Next Big Ideas Club and is receiving widespread media attention across North America.

• Eldon Sprickerhoff, co-founder of cybersecurity firm eSentire, is seeing strong pre-orders for his upcoming book, “Committed: Startup Survival Tips and Uncommon Sense for First-Time Tech Founders.”

• Dr. Tony Sanfilippo, a respected cardiologist and professor of medicine at Queen’s University, is generating significant media interest with his forthcoming book, “The Doctors We Need: Imagining a New Path for Physician Recruitment, Training, and Support.”

Seeman, whose recent and acclaimed book, “Accelerated Minds,” explores the entrepreneurial mindset, brings a unique perspective to publishing. His experience as a Senior Fellow at the University of Toronto’s Institute of Health Policy, Management and Evaluation, and academic affiliations with The Fields Institute and Massey College, give him deep insight into the challenges faced by people he calls “quiet experts.”

“Our goal is to empower quiet, expert authors to become entrepreneurs of actionable ideas the world needs to hear,” Seeman states. “We are blending scholarly insight with market savvy to create accessible, impactful narratives for a global readership. Quiet experts are people with decades of experience in one or more fields who seek to translate their insights into compelling non-fiction for the world,” says Seeman.

This fall, Seeman is taking his insights to the classroom. He will teach the new course, “The Writer as Entrepreneur,” at the University of Toronto, offering aspiring authors practical tools to navigate the evolving book publishing landscape. To enroll in this new weekly night course starting Tuesday, October 1st, visit:
https://learn.utoronto.ca/programs-courses/courses/4121-writer-entrepreneur

“The entrepreneurial ideas industry is changing rapidly,” Seeman notes. “Authors need new skills to thrive in this dynamic environment. My course and our publishing model provide those tools.”

About Neil Seeman:
Neil Seeman is co-founder and publisher of Sutherland House Experts, an author, educator, entrepreneur, and mental health advocate. He holds appointments at the University of Toronto, The Fields Institute, and Massey College. His work spans entrepreneurship, public health, and innovative publishing models.

Follow Neil Seeman:
https://www.neilseeman.com/
https://www.linkedin.com/in/seeman/

Follow Sutherland House Experts:
https://sutherlandhouseexperts.com/
https://www.instagram.com/sutherlandhouseexperts/

Media Inquiries:
Sasha Stoltz | Sasha@sashastoltzpublicity.com | 416.579.4804
https://www.sashastoltzpublicity.com
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What to stream this weekend: ‘Civil War,’ Snow Patrol, ‘How to Die Alone,’ ‘Tulsa King’ and ‘Uglies’

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6 days ago

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September 13, 2024

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Hallmark launching a streaming service with two new original series, and Bill Skarsgård out for revenge in “Boy Kills World” are some of the new television, films, music and games headed to a device near you.

Also among the streaming offerings worth your time as selected by The Associated Press’ entertainment journalists: Alex Garland’s “Civil War” starring Kirsten Dunst, Natasha Rothwell’s heartfelt comedy for Hulu called “How to Die Alone” and Sylvester Stallone’s second season of “Tulsa King” debuts.

NEW MOVIES TO STREAM SEPT. 9-15

— Alex Garland’s “Civil War” is finally making its debut on MAX on Friday. The film stars Kirsten Dunst as a veteran photojournalist covering a violent war that’s divided America; She reluctantly allows an aspiring photographer, played by Cailee Spaeny, to tag along as she, an editor (Stephen McKinley Henderson) and a reporter (Wagner Moura) make the dangerous journey to Washington, D.C., to interview the president (Nick Offerman), a blustery, rising despot who has given himself a third term, taken to attacking his citizens and shut himself off from the press. In my review, I called it a bellowing and haunting experience; Smart and thought-provoking with great performances. It’s well worth a watch.

— Joey King stars in Netflix’s adaptation of Scott Westerfeld’s “Uglies,” about a future society in which everyone is required to have beautifying cosmetic surgery at age 16. Streaming on Friday, McG directed the film, in which King’s character inadvertently finds herself in the midst of an uprising against the status quo. “Outer Banks” star Chase Stokes plays King’s best friend.

— Bill Skarsgård is out for revenge against the woman (Famke Janssen) who killed his family in “Boy Kills World,” coming to Hulu on Friday. Moritz Mohr directed the ultra-violent film, of which Variety critic Owen Gleiberman wrote: “It’s a depraved vision, yet I got caught up in its kick-ass revenge-horror pizzazz, its disreputable commitment to what it was doing.”

— AP Film Writer Lindsey Bahr

NEW MUSIC TO STREAM SEPT. 9-15

— The year was 2006. Snow Patrol, the Northern Irish-Scottish alternative rock band, released an album, “Eyes Open,” producing the biggest hit of their career: “Chasing Cars.” A lot has happened in the time since — three, soon to be four quality full-length albums, to be exact. On Friday, the band will release “The Forest Is the Path,” their first new album in seven years. Anthemic pop-rock is the name of the game across songs of love and loss, like “All,”“The Beginning” and “This Is the Sound Of Your Voice.”

— For fans of raucous guitar music, Jordan Peele’s 2022 sci-fi thriller, “NOPE,” provided a surprising, if tiny, thrill. One of the leads, Emerald “Em” Haywood portrayed by Keke Palmer, rocks a Jesus Lizard shirt. (Also featured through the film: Rage Against the Machine, Wipers, Mr Bungle, Butthole Surfers and Earth band shirts.) The Austin noise rock band are a less than obvious pick, having been signed to the legendary Touch and Go Records and having stopped releasing new albums in 1998. That changes on Friday the 13th, when “Rack” arrives. And for those curious: The Jesus Lizard’s intensity never went away.

— AP Music Writer Maria Sherman

NEW SHOWS TO STREAM SEPT. 9-15

— Hallmark launched a streaming service called Hallmark+ on Tuesday with two new original series, the scripted drama “The Chicken Sisters” and unscripted series “Celebrations with Lacey Chabert.” If you’re a Hallmark holiday movies fan, you know Chabert. She’s starred in more than 30 of their films and many are holiday themed. Off camera, Chabert has a passion for throwing parties and entertaining. In “Celebrations,” deserving people are surprised with a bash in their honor — planned with Chabert’s help. “The Chicken Sisters” stars Schuyler Fisk, Wendie Malick and Lea Thompson in a show about employees at rival chicken restaurants in a small town. The eight-episode series is based on a novel of the same name.

— Natasha Rothwell of “Insecure” and “The White Lotus” fame created and stars in a new heartfelt comedy for Hulu called “How to Die Alone.” She plays Mel, a broke, go-along-to-get-along, single, airport employee who, after a near-death experience, makes the conscious decision to take risks and pursue her dreams. Rothwell has been working on the series for the past eight years and described it to The AP as “the most vulnerable piece of art I’ve ever put into the world.” Like Mel, Rothwell had to learn to bet on herself to make the show she wanted to make. “In the Venn diagram of me and Mel, there’s significant overlap,” said Rothwell. It premieres Friday on Hulu.

— Shailene Woodley, DeWanda Wise and Betty Gilpin star in a new drama for Starz called “Three Women,” about entrepreneur Sloane, homemaker Lina and student Maggie who are each stepping into their power and making life-changing decisions. They’re interviewed by a writer named Gia (Woodley.) The series is based on a 2019 best-selling book of the same name by Lisa Taddeo. “Three Women” premieres Friday on Starz.

— Sylvester Stallone’s second season of “Tulsa King” debuts Sunday on Paramount+. Stallone plays Dwight Manfredi, a mafia boss who was recently released from prison after serving 25 years. He’s sent to Tulsa to set up a new crime syndicate. The series is created by Taylor Sheridan of “Yellowstone” fame.

— Alicia Rancilio

NEW VIDEO GAMES TO PLAY

— One thing about the title of Focus Entertainment’s Warhammer 40,000: Space Marine 2 — you know exactly what you’re in for. You are Demetrian Titus, a genetically enhanced brute sent into battle against the Tyranids, an insectoid species with an insatiable craving for human flesh. You have a rocket-powered suit of armor and an arsenal of ridiculous weapons like the “Chainsword,” the “Thunderhammer” and the “Melta Rifle,” so what could go wrong? Besides the squishy single-player mode, there are cooperative missions and six-vs.-six free-for-alls. You can suit up now on PlayStation 5, Xbox X/S or PC.

— Likewise, Wild Bastards isn’t exactly the kind of title that’s going to attract fans of, say, Animal Crossing. It’s another sci-fi shooter, but the protagonists are a gang of 13 varmints — aliens and androids included — who are on the run from the law. Each outlaw has a distinctive set of weapons and special powers: Sarge, for example, is a robot with horse genes, while Billy the Squid is … well, you get the idea. Australian studio Blue Manchu developed the 2019 cult hit Void Bastards, and this Wild-West-in-space spinoff has the same snarky humor and vibrant, neon-drenched cartoon look. Saddle up on PlayStation 5, Xbox X/S, Nintendo Switch or PC.

— Lou Kesten

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Trump could cash out his DJT stock within weeks. Here’s what happens if he sells

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4 weeks ago

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August 23, 2024

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Former President Donald Trump is on the brink of a significant financial decision that could have far-reaching implications for both his personal wealth and the future of his fledgling social media company, Trump Media & Technology Group (TMTG). As the lockup period on his shares in TMTG, which owns Truth Social, nears its end, Trump could soon be free to sell his substantial stake in the company. However, the potential payday, which makes up a large portion of his net worth, comes with considerable risks for Trump and his supporters.

Trump’s stake in TMTG comprises nearly 59% of the company, amounting to 114,750,000 shares. As of now, this holding is valued at approximately $2.6 billion. These shares are currently under a lockup agreement, a common feature of initial public offerings (IPOs), designed to prevent company insiders from immediately selling their shares and potentially destabilizing the stock. The lockup, which began after TMTG’s merger with a special purpose acquisition company (SPAC), is set to expire on September 25, though it could end earlier if certain conditions are met.

Should Trump decide to sell his shares after the lockup expires, the market could respond in unpredictable ways. The sale of a substantial number of shares by a major stakeholder like Trump could flood the market, potentially driving down the stock price. Daniel Bradley, a finance professor at the University of South Florida, suggests that the market might react negatively to such a large sale, particularly if there aren’t enough buyers to absorb the supply. This could lead to a sharp decline in the stock’s value, impacting both Trump’s personal wealth and the company’s market standing.

Moreover, Trump’s involvement in Truth Social has been a key driver of investor interest. The platform, marketed as a free speech alternative to mainstream social media, has attracted a loyal user base largely due to Trump’s presence. If Trump were to sell his stake, it might signal a lack of confidence in the company, potentially shaking investor confidence and further depressing the stock price.

Trump’s decision is also influenced by his ongoing legal battles, which have already cost him over $100 million in legal fees. Selling his shares could provide a significant financial boost, helping him cover these mounting expenses. However, this move could also have political ramifications, especially as he continues his bid for the Republican nomination in the 2024 presidential race.

Trump Media’s success is closely tied to Trump’s political fortunes. The company’s stock has shown volatility in response to developments in the presidential race, with Trump’s chances of winning having a direct impact on the stock’s value. If Trump sells his stake, it could be interpreted as a lack of confidence in his own political future, potentially undermining both his campaign and the company’s prospects.

Truth Social, the flagship product of TMTG, has faced challenges in generating traffic and advertising revenue, especially compared to established social media giants like X (formerly Twitter) and Facebook. Despite this, the company’s valuation has remained high, fueled by investor speculation on Trump’s political future. If Trump remains in the race and manages to secure the presidency, the value of his shares could increase. Conversely, any missteps on the campaign trail could have the opposite effect, further destabilizing the stock.

As the lockup period comes to an end, Trump faces a critical decision that could shape the future of both his personal finances and Truth Social. Whether he chooses to hold onto his shares or cash out, the outcome will likely have significant consequences for the company, its investors, and Trump’s political aspirations.

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