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Why Black-owned media companies didn't join multicultural marketplaces – Digiday

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Agencies saw the social unrest movement as an opportunity to create multicultural exchanges. Black-owned media companies are hesitant to join.

Last summer, marketers vowed to support Black-owned media companies with increased ad spend. In turn, agencies said they saw an increase in clientele; publishers said they received more RFPs and signed longer-term ad deals.

And where there is advertising money flowing, there are agencies to step in and help direct the stream.

While the opportunity to place ads on Black-owned publications became en vogue amid the social unrest movement over the summer, Black-owned media has been left disappointed in the months that followed that it took marketers so long to realize that their properties are worth investment.

“There has been a slight knock-on effect after the increased awareness of the Black Lives Matter movement last summer,” said Mariel Richards, CEO of U.K.-based magazine gal-dem. “Which is kind of bittersweet because it’s a good thing that we’re able to support our staff and our community with increased commissioning budgets that comes from this advertising. But it is frustratingly familiar that this money is coming from a time of crisis and that it takes a tragedy for this attention to fall on us.” 

GroupM, Havas Media and H Code all launched new multicultural private marketplaces or networks in the past year for brand clients to more efficiently buy ad spots in Black-owned media companies at scale. But some independently owned media companies are refraining from joining these agency networks, despite indications that the marketplaces are bringing in new clients and sales for publishers that are participating.

In June, Havas Media Group launched its version of a multicultural marketplace, its so-called social equity marketplace, in the U.S., later creating marketplaces in the U.K., France and Germany. The expansion will soon come to Spain.

The marketplace in the U.S. quickly gained steam and now claims that one-fourth of its clients are active in it. Furthermore, the marketplace offers programmatic ads for more than 1,200 BIPOC- and LGBTQ+-owned and operated publishers and media partners, including podcast creators and CTV channels, according to the company’s global head of programmatic, Ben Downing.

In its U.K. iteration, campaigns saw a 25% uplift compared to D&I-focused campaigns not purchased in the marketplace. And in all of the global social equity marketplaces, transactions have been consistent and growing since launch. In other words, clients are not just using the marketplace during key moments for Black audiences, such as Black History Month in the U.S., Downing said.

GroupM has had a multicultural division since 2006 but launched its programmatic multicultural marketplace in July. The PMP started with a portfolio of 300 sites. It now includes more than 500 media sites primarily operated by BIPOC creators or produced for BIPOC audiences, versus being minority owned.

The marketplace has brought in 20 to 25 new clients into the multicultural division, according to Gonzalo del Fa, president of GroupM Multicultural, but he said he expects significant growth in 2021 as his team moves out of the strategizing stage and into the execution phase. Especially when it comes to programmatic.

“We did have a lot of client interest, what became the challenge is that most of those sites were not set up programmatically,” said Susan Schiekofer, chief digital investments officer at GroupM, adding that her team consulted with the publishers in the marketplace to help set them up for programmatic transactions.

Overall, these marketplaces have convinced brands to more regularly allocate a portion of their advertising budgets to publishers that they might never have worked with before. This moment of time has also gotten brands to spend around new key moments. Schiekofer added that this was the first year ever that her team has had clients ask about Juneteenth campaigns.

But as agencies become more involved in the process, independently owned publishers say they lose direct contact with potential new clients, as well as autonomy over who is advertising on their sites and what they’re able to charge, leaving many skeptical and hesitant to join these marketplaces.

“After everything that came with Black Lives Matter, there are lots of agencies and organizations that are making quick money off of saying they are able to put a badge of diversity and ‘wokeness’ on a brand, without that brand having to actively engage with that community,” said gal-dem’s Richards. “It didn’t feel just like the normal moving and shaking of the advertising world, it felt much more like exploitation than it would have in any other circumstance.”

Richards said that gal-dem was included as a publisher in one multicultural marketplace for an agency that “specializes in buying diverse media,” despite not having had a conversation with that agency about the magazine’s inclusion. Richards would not disclose the name of the agency, but said that the experience left “a bad taste in my mouth.”

The advertising industry has historically been dominated by the white male demographic, Richards said, and in these situations, the agencies become the middlemen that profiteer on the money that is being earmarked by brands to support Black-owned media companies.

REVOLT, a music-oriented digital cable television network founded by rapper and producer Sean Combs, was approached by GroupM to join its multicultural marketplace, but turned down the offer, according to the network’s evp of ad sales Mike Roche.

In the past year, Roche said REVOLT added 40 new advertisers. Joining a PMP would not have allowed the company to gain the scale at the depth of spend it could reach on its own.

PMPs allow brands to “check the box of buying Black-owned properties through small allocations of media,” but the “brands that are looking to make the greatest impact on the culture” usually work with REVOLT’s in-house agency, Roche said.

The Plug, a newsletter turned online media company covering innovation and entrepreneurship in the Black community, also has not worked with any multicultural PMPs or media buying agencies, said the publication’s founder Sherrell Dorsey.

“It’s not a matter of being left out,” however, she said. “It’s when you’re looking for critical mass, sometimes the niche spaces just don’t fit. And I’m OK with that.”

Dorsey noted that the brand saw an increase of requests from brands over the summer, but declined to count this uptick in true growth and instead called it artificial.

That interest also began to wane by the start of the fourth quarter, she noted, with a slight pick-up again ahead of Black History Month last month.

“I think that you kind of have that crop of advertisers who feel like they’re doing Black media publishers a favor when they are approaching them and looking to advertise, but they don’t want to spend market rate for what it costs,” said Dorsey.

For many of these independently-owned media companies covering topics and reporting stories that have been largely marginalized by mainstream media, this additional ad revenue becomes even more crucial to their operations, so agencies taking a portion of that makes it an even murkier situation, Richards said.

“Not only do they take away your agency in terms of determining which brands are present on your website — which potentially could affect how people view your editorial integrity when reading it — but also they start to determine how much that that audience is worth,” Richards said.

Further more, gal-dem typically sets its CPMs between £15-25 ($20-35) due to its selective nature around who the advertisers are and the number of ads that run on site. But the agencies that Richards has spoken with in the past encouraged the magazine to drop its CPMs to £4-6 (about $5-8), even though publications of a similar size that have a whiter audience are being sold at £10-15 ($14-20) or £15-20 ($20-17) CPMs. Not only does it make Richards question the motive of the agency, but she said it is also very transparent that advertisers do not see Black audiences as having an equally high value.

“We’re trying to make a shift in how dollars are allocated, how campaigns are built. Let’s talk about a strategic relationship with a brand that goes six months, a year, two years.” said Damian Benders, general Manager of B Code Media, a division of multicultural advertising agency H Code that focuses on connecting brands with Black audiences.

In January, the B Code division was officially launched and rather than only being a programmatic solution to selling Black media at scale, Benders said that his team focuses on researching insights into Black audiences then takes a consultative approach to helping brands build campaigns that are meaningful.

“Black media suffers from the problem of building scale across a fragmented landscape. There’s a few top players that are bigger companies that have a bunch of brands, and then there’s hundreds of smaller players who are minority owned [that] aren’t getting most of the money,” said Benders.

Some publishers are taking the issue of limited scale into their own hands and either formally (or informally) creating their own networks of multicultural publications.

Roche’s solution mirrors the industry: He said REVOLT will launch its own version of a PMP by the end of the year, which will focus on creating a network of YouTube content creators and digital publishers.

Richards said gal-dem informally works with other U.K.-based niche publishers regularly, and will share RFPs that don’t fully match its specific audience.

Brands want to make sure they “get the scale within the community they’re trying to reach. That’s totally feasible outside of working with a white guy who says that he can buy programmatic advertising. And often we can do it more effectively because then you’ll get access to the talent directly through the publications,” she said.

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GLAAD Media Awards presenters support transgender athletes

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LOS ANGELES — “Schitt’s Creek” and “The Boys in the Band” were winners at the GLAAD Media Awards, which included soccer’s Ashlyn Harris and Ali Krieger calling for transgender students to be accepted as “part of the team” in sports.

Harris and Krieger, spouses who play for the Orlando Pride and were on the 2019 World Cup-winning U.S. women’s national team, presented an award in Thursday’s virtual ceremony to the film “Happiest Season,” about a lesbian romance.

The couple drew attention to transgender athletes amid widespread efforts to restrict their participation, including a recently signed Mississippi bill that bans them from competing on girls or women’s sports teams. It becomes law July 1.

“Trans students want the opportunity to play sports for the same reason other kids do: to be a part of a team where they feel like they belong,” Krieger said.

Added Harris: “We shouldn’t discriminate against kids and ban them from playing because they’re transgender.”

“Star Trek: Discovery,” “I May Destroy You” and “A Little Late with Lilly Singh” were among the other projects honoured in the pre-taped ceremony hosted by Niecy Nash. It’s available on Hulu through June.

The GLAAD awards, in their 32nd year, recognize what the media advocacy organization calls “fair, accurate, and inclusive” depictions of LGBTQ people and issues. Presenters and winners in this year’s event highlighted priorities including the importance of solidarity and self-respect.

“Friends, I’m so proud to stand with the LGBTQ community tonight, just as the LGBTQ community stands with Black and diverse communities,” said Sterling K. Brown, who presented the outstanding documentary award to “Disclosure.”

The “This Is Us” star, citing the Black Lives Matter and Black Trans Lives Matter movements, said that “we’re going to keep spreading that message of unity and justice until every one of us is safe to live the lives we love.”

JoJo Siwa, the teenage YouTube personality and performer, presented the award for outstanding children’s programming to “The Not-Too-Late Show with Elmo.” She said in January that she’s part of the LGBTQ community.

“I have the best, most amazing, wonderful girlfriend in the entire world who makes me so, so, so happy and that’s all that matters,” Siwa said. ”It’s really cool that kids all around the world who look up to me can now see that loving who you want to love is totally awesome” and should be celebrated.

Other awards went to Sam Smith, who was honoured as outstanding music artist for the album “Love Goes”; Chika, named breakthrough music artist for “Industry Games,” and “We’re Here” won outstanding reality program.

Cast members from “Glee,” including Chris Colfer, Amber Riley and Jane Lynch, paid tribute to Naya Rivera and her character in the series, gay cheerleader Santana Lopez. Rivera, 33, died in an accidental drowning in July 2020.

___

Online:

https://www.glaad.org/

Lynn Elber, The Associated Press







Source:- Coast Reporter

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Social Media Etiquette Review

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Despite your best efforts, you may cause someone pain with that Tweet or Facebook post. Here’s a refresher on social media best practices, along with advice for some pandemic-only dilemmas.

In an ideal world, your followers would think every photo, video or thought you post on social media is like a little gift to them. In reality, it’s hard to predict how posts on Instagram, Facebook and other social media will land, especially during the pandemic. After so much loss and isolation over the past year, people are on edge. That vaccine selfie may feel joyous and hopeful to you, but it could be a digital slap in the face to someone who hasn’t received a vaccine shot or who has suffered a grave loss.

“Someone could be experiencing loss in such a way that there’s no way someone else won’t post something that compounds their grief,” said Catherine Newman, who has written the Modern Manners etiquette column for Real Simple magazine for 10 years. “That’s how grief is.”

Still, it’s hard not to overthink things — and to worry that despite your best efforts, you may cause someone pain. Some social media experts say you should review your sharing practices periodically, so here’s a refresher on social media etiquette, along with advice for some pandemic-only situations.

First, identify your motivations. Are you sharing that picture of the exquisite cake you baked because you want praise, or do you want people to feel bad that what they made themselves wasn’t as good? If it is to receive affirmation, that’s OK. But if you find yourself trying to get all your needs met by social media likes, it might be time to think about what else is missing in your life.

Second, focus on your friends. If you tried to consider every possible person who might be hurt by a post — your seemingly unobjectionable photo of tulips could very well remind a follower of someone they have lost — you might never post anything on social media. But absolutely think about your inner circle carefully.

Ms. Newman, for one, hasn’t posted about her own post-vaccination visits with family because so many in her immediate friend group have lost a parent in the past year. If you’re in a similar situation and you still want to post your vaccine selfie or the first time you’ve hugged your father in a year, consider acknowledging your own good fortune.

“I still appreciate it when people say, ‘We’re so lucky and there’s been so much loss and I’m sorry if you’re experiencing loss,’” said Ms. Newman, whose best friend died of cancer five years ago.

Before you hit “share,” read your words in multiple tones of voice, as different people can interpret the text differently, suggested Diane Gottsman, an etiquette expert and the founder of the Protocol School of Texas, a San Antonio company specializing in corporate etiquette training. If there’s any doubt, add a cue, such as an emoticon, about your tone.

If you want to post something negative, keep in mind that what you say or share often says more about you. Disagree (respectfully), but avoid sweeping generalizations about entire groups of people — or about one business based on your interaction with a single employee.

Additionally, remember that any message you share, even with close family members, will be amplified to your entire online community. (The tension may also be amplified around vaccines, health measures and the stress of a not-normal year.) If you are replying to your sister online about something, that doesn’t mean you can speak to her as harshly as you might privately. Ms. Gottsman advises taking a heated family debate offline.

“Don’t start a family feud on social media,” Ms. Gottsman said. “It can affect the next family holiday.”

If you are soliciting donations for a particular cause or charity, or asking for money to pay someone’s rent or medical bills with a GoFundMe campaign, recognize that the financial situations of many people have changed this past year and there may be many other appeals compared to times past. Skip shaming phrases, like “How can you not help this person?” Instead, Ms. Gottsman said, use ones like “If your heart moves you, I’m sharing this.”

Think less vigilance is needed, because your text group is small or your settings have been changed to private? Think again. When Heidi Cruz, the wife of Senator Ted Cruz of Texas, shared her family’s plans to flee a devastating winter storm in Texas for a vacation in Mexico, she texted only a small group of neighbors and friends. Screenshots of the messages ended up with journalists. Elaine Swann, an etiquette expert and founder of the School of Protocol in Carlsbad, Calif., points out that it wasn’t just one person who shared the chat with The New York Times; there were others who confirmed it.

“Even if you think it’s just your inner circle, there’s always somebody there who isn’t 100 percent on your team,” she said. “That’s the person who takes the screenshot before you delete whatever it is.”

Posting about food and fitness may be even more tempting than usual, given that a lot of people have changed what they eat and how much they exercise during the pandemic. But confine your commentary to how these lifestyle changes make you feel, not how they make you look. Among other things, not all people have had the luxury of more time to exercise during the pandemic — or if they did, they might not have had the energy to do so.

Dr. Lindsay Kite is a founder of Beauty Redefined, a nonprofit that promotes body image resilience, and an author of “More Than a Body.” She noted that your “before” photo — talking about how fat you look — may be someone else’s “after.”

If you really want affirmation and accountability for your fitness goals, avoid the sports-bra selfie and posts about body measurements. Instead, Dr. Kite suggested posting a picture of yourself in a blood pressure cuff, or a less body-focused snapshot of you jogging to your favorite coffee shop.

“Loving your body and improving your health doesn’t always lead to a more ideal-looking body,” she said.

There may be situations in which a post doesn’t land as you had intended. Maybe you shared a photo of a masked-up pandemic wedding, but followers pointed out that attending still involved travel. Or you posted a video of your family’s Easter egg hunt, because all the adults participating had been lucky enough to be vaccinated.

Ask yourself how many people reacted negatively. If only one follower is unhappy, it may just be that one person is raw.

“We have a genre in my family we call ‘hurting your own feelings,’” Ms. Newman said. “Where you’re looking for something to hang some pain on and you find it.”

You don’t have to own the person’s grief, but you do have to take responsibility for yourself and apologize. You can keep it simple, Ms. Newman said: I see your pain. I’m so sorry.

If you post something that is hurtful to a wider audience — you inadvertently said something offensive or you didn’t consider all the issues — it should absolutely be deleted if it’s causing people pain.

If it’s not, consider keeping the post up, Ms. Newman said, because deleting it erases the post from public view but does not address the hurt it caused. On Facebook, she suggested an “edited to add” with your heartfelt apology. This should not include the words “but” or “if,” as in, “I apologize if you were offended.” These words don’t acknowledge the hurt person’s truth and their situation, or your role in hurting them.

“If you accidentally step on someone’s foot, you don’t say, ‘I’m sorry if I stepped on your foot,’” Ms. Swann said. “You did it. It’s not a question.”

Your apology should also include a thoughtful plan about how you’ll do things differently in the future, which can be calibrated based on how grievous the offense. For lesser instances, Ms. Gottsman said, a sentence like “I’ll think twice before I post,” may be enough.

These are words all of us could live by.

Source:- The New York Times

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Media Advisory: Virtual Infrastructure Announcement in Brampton – Yahoo Canada Finance

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GlobeNewswire

Reneo Pharmaceuticals Announces Pricing of Initial Public Offering

SAN DIEGO, April 08, 2021 (GLOBE NEWSWIRE) — Reneo Pharmaceuticals, Inc., a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare, genetic, mitochondrial diseases, today announced the pricing of its initial public offering of 6,250,000 shares of its common stock at a public offering price of $15.00 per share, for total gross proceeds of approximately $93.8 million, before deducting underwriting discounts and commissions and offering expenses. All of the shares are being offered by Reneo. The shares are expected to begin trading on the Nasdaq Global Market on April 9, 2021 under the symbol “RPHM.” In addition, Reneo has granted the underwriters a 30-day option to purchase up to an additional 937,500 shares of common stock at the public offering price less underwriting discounts and commissions. The offering is expected to close on April 13, 2021, subject to satisfaction of customary closing conditions. Jefferies, SVB Leerink and Piper Sandler are acting as joint book-running managers for the offering. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective on April 8, 2021. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained, when available, from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388 or by e-mail at prospectus_department@jefferies.com; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by telephone at (800) 808-7525, ext. 6105 or by e-mail at syndicate@svbleerink.com; or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924 or by e-mail at prospectus@psc.com. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Reneo PharmaceuticalsReneo is a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, which are often associated with the inability of mitochondria to produce adenosine triphosphate (ATP). Reneo is developing REN001 to modulate genes critical to metabolism and generation of ATP, which is the primary source of energy for cellular processes. REN001 has been shown to increase transcription of genes involved in mitochondrial function and increase fatty acid oxidation, and may increase production of new mitochondria. Contacts: Joyce AllaireManaging DirectorLifeSci Advisors, LLCjallaire@lifesciadvisors.com Vinny JindalChief Financial OfficerReneo Pharmaceuticals, Inc.investors@reneopharma.com

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