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Detroit General Motors Co. on Friday hosted its first Diverse-owned Media Summit an event it created after some Black-owned media executives pressured the automaker to be more inclusive with its advertising spends.
GM said 200 companies participated in the summit, which kicked off GM s request for proposals for media groups looking to work with the automaker. At the event, GM made a commitment to longer-term contracts, GM Global Chief Marketing Officer Deborah Wahl said in a statement.
Wahl added that the company reiterated our commitment to equality, inclusion and systemic change in advertising and reinforced our leadership in the industry in addressing multiple aspects of the media ecosystem, including overall spend, spend distribution, measurement, deal structure and infrastructure development.
Byron Allen, CEO of the Allen Media Group. Image: Youtube/Hot 97
IPG Mediabrands, a self-described client-first, community-driven group of 13,000 media and marketing specialists, has committed to invest at least 5% of its advertising budget in Black-owned media across all its clients by 2023.
The announcement comes as brands and their advertising agencies are being pushed to spend more with Black media companies. IPG’s commitment leaves room for clients to spend more than 5% of their ad budgets in Black-owned media.
“The time is past due to embrace the opportunities to connect with influential audiences through Black-owned media,” Daryl Lee, global CEO at IPG Mediabrands, said in an emailed statement. “Innovation and growth are flourishing across Black-owned media outlets, providing brands with deeply authentic ways to reach diverse audiences in a supportive, meaningful manner. We are excited to be adding our voice to a growing industry conversation in support of greater d
GM To Advertise More with Diverse Owned Media wbckfm.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wbckfm.com Daily Mail and Mail on Sunday newspapers.
General Motors is revealing a new plan to spend more advertising dollars with media companies that have diverse ownership.
On Friday, GM revealed a new five-part plan the result of a series of meetings between CEO Mary Barra and Black-owned media representatives over the past three weeks that will offer better access to advertising dollars with GM.
The new plan comes after a series of full-page ads in several newspapers in which some Black-owned media leaders accused GM and Barra of systemic racism for refusing to take a meeting with the media leaders and allocate a greater portion of the advertising budget with Black-owned media.
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General Motors To Double Ad Spending With Black-Owned Media
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General Motors has confirmed that it will double its ad spending with Black-owned media.