BET head, Debra Lee; top Black media outlets and advertising agencies are coming together to combat issues surrounding how corporations undervalue the African American consumer. Target Market News reports, that advertising dollars spent targeting African American consumers is less than $2 billion although spending power for the African American consumer is expected to exceed $1 Trillion by 2015. These numbers are disproportionate as compared to the general market and other communities with regard to advertising dollars spent.
The consortium’s members include Huffington, Post 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.
In a statement to Target Market News, Debra Lee, Chairman and Chief Executive Officer for BET Networks says, “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.”