Over two dozen black media firms and marketing agencies have joined forces to make advertising history. The consortium aims to place emphasis on the often overlooked buying power of African Americans through the revolutionary #InTheBlack campaign.
At 42 million strong, black consumers beat out all other ethnic groups in the purchasing of automobiles, groceries, health and beauty products, apparel, electronics, movies, travel, wine & spirits, baby products and entertainment. The campaign goals include encouraging increased investments in the African American marketplace while helping companies reach the black audience more effectively.
BET Networks has played a key role in spearheading the consortium, partnering up with HuffPost BlackVoices, Black Enterprise, Essence Communications, The Root, The Grio and many others. This partnership signals a collaborative effort rarely seen amongst Black media members and within the advertising industry .
“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,” said Debra Lee, Chairman and Chief Executive Officer, for BET Networks. “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.”
According to a Nielsen 2011 study, African American buying power will have gained 35%, reaching 1.1 trillion dollars in 2015, up from $913 billion in 2008. In addition to directing advertisers to African-American audiences, #InTheBlack seeks to inform consumers which companies have upheld a diverse advertising strategy.