Black-Owned Media Leaders To Gather for TVN Webinar
African American entrepreneurs who run media companies would like big marketers to help dismantle systemic racism in the business world by devoting a portion of their annual advertising budgets to Black Owned Media.
To drive the message home, a group of them will gather to talk about the challenges they face during a TVNewsCheck webinar, Black Owned Media Matters.
Set for Thursday, April 15, at 1 p.m. ET, the webinar will feature Byron Allen, owner of The Weather Channel and founder of Entertainment Studios and Allen Media Group. Allen has led the charge in recent months to pressure advertising giants to address chronic under-investment in advertising on Black Owned Media companies.
Last week, his effort got a boost when Mary Barra, the CEO of General Motors, announced the company would dedicate 4% of its ad budget to Black-owned media companies in 2022 and 8% by 2025.
Barra appeared to be responding to a full-page ad Allen and leaders of several other Black-owned media companies had bought in the Detroit Free Press accusing her of refusing to meet with them. “Mary, the very definition of systemic racism is when you are ignored, excluded and you don’t have economic inclusion,” the letter said.
Business leaders who joined Allen in signing the letter were Roland Martin, CEO of Nu Vision Media; Earl “Butch” Graves Jr., president-CEO, Black Enterprise; rapper, actor and filmmaker Ice Cube, who founded the 3 on 3 basketball league, Big3 and is co-founder of production company Cubevision; Junior Bridgeman, owner of Ebony Media; Don Jackson, founder, chairman and CEO of Central City Productions; and Todd F. Brown, founder of Urban Edge Networks.
As the 2021 Upfront Season draws near, Allen and his fellow Black-owned media company leaders want large marketers to join Barra in setting aside funds to advertise on their networks, print publications and digital properties.
“Because of the Black Lives Matter movement, for the very first time in our business, there is real accountability. Many CMO’s and ad executives are not going to survive it because they have been tone-deaf forever,” Allen said.
“Our industry must have true economic inclusion, and this can only start when agency planners and the global brands they represent mandate a 2% media allocation for Black-owned media companies across all annual planning.”
To join the webinar, please register here.