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Advertising’s diversity shortcomings aren’t limited to representation on-screen and within creative departments.
Media budgets often fail to address the diversity of multicultural American audiences when it comes to where ads are seen. Multicultural groups represent around 40% of the U.S. population, according to U.S. census data from 2019. Despite that, only 5.2% of budgets are invested in multicultural media and BIPOC-owned media partners, according to 2019 figures from the Association of National Advertisers.
The economic effects of Covid-19 only continue to widen the equity gap because of its disproportionate impact on BIPOC communities, with 41% of Black-owned businesses and enterprises shuttering during the pandemic, according to research from the University of California at Santa Cruz.
Mediahub, an agency owned by IPG, is addressing the need to diversify media investments with its inaugural Diversity-Owned Media Day, highlighting six companies in the process.
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