GroupM Offers Plan to Expand Investment in Diverse Media
09.03.2023 - 17:21
/ variety.com
Brian Steinberg Senior TV Editor GroupM, the large WPP-owned media-investment agency, wants advertisers to do more when it comes to supporting diverse media. After calling for advertisers to put between 2% and 5% of their annual media spend into multicultural media venues, the media buyer hopes clients will now invest the upper end of that range. “As the largest media investment company in the world, we have a responsibility to accelerate growth through the next era of media,” said Kirk McDonald, CEO, GroupM North America, in a statement. “That means making our industry more inclusive and equitable for all publishers. As well as, sharing brands’ products and services with audiences that are representative of the changing face of America in service of growing their businesses.” Under GroupM’s effort, marketers would ensure the money is invested across Black, Hispanic, AAPI and LGBTQ+ owned and/or focused media.
GroupM first unveiled the effort in 2021, when it spurred a group of 20 advertisers, including General Mills, L’Oreal and Nestle, AARP, Mars, Pernod Ricard, Danone, DoorDash, Target and Tyson Foods, to take part in the concept. Much of the debate around allocating new dollars to minority-owned media broadened in the wake of the killing of George Floyd while in the custody of Minneapolis police in 2020, a seminal event that has spurred new conversations about how people in America treat one another. In recent weeks, Target, Verizon, General Motors and Procter & Gamble demonstrated new willingness to work with Black-owned businesses or forge partnerships with Black creative executives. The agency said the strategy has, in its first 18 months, spurred a “triple-digit increase” in investment in Black-owned media,
The website popstar.one is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can
send a complaint on the news if you find it unreliable.