Mediahub Introduces Inaugural Diversity-Owned Media Day

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. The invite-only marketer event, hosted by Mediahub, is the first in a potential series of several sessions designed to facilitate long-term, sustained relationships that will contribute to more equitable and representative media investments. The event will introduce six partners to both clients and the broader Mediahub team. Partners for the event include: Influencer marketing agency Black Girl DigitalBeing Latino, a social-first media company targeting Hispanic millennialsBlavity, Inc., a global digital media company geared toward Black millennials and Gen Z audiencesCertified minority-owned digital ad-tech company, Colossus SSPGay Ad Network, a global ad marketplace connecting advertisers with LGBTQ+ consumersIndependent Latinx media and entertainment solutions company, NGL Collective The event commences on Thursday, with half-day sessions designed to challenge legacy planning, investment practices and assumptions related to diverse audiences while supporting diversity-owned publishers and platforms. It will aim to make the business case for working with these companies. In a statement, Mediahub described the sessions as designed to resemble a "virtual dinner party," facilitating open discussions and allowing the publishers to showcase their unique capabilities and insights. Carrie Drinkwater, evp of national investments at Mediahub, explained that the concept for Diversity-Owned Media Day stemmed from discussions following CES and input from Mediahub's employee resource groups. The agency's employee resource groups nominated potential partners, from which Mediahub voted on participants for the inaugural event. Defining success Drinkwater hopes the experience can be beneficial to agency talent, clients and publishers alike. She was impressed by the energy and enthusiasm around initial conversations between the agency and its partners for the event. "Many of them, I didn’t know who they were and what they do," Drinkwater admitted. "Shame on me for leading investment and not knowing enough about these companies. We're hoping to educate both clients and agency people. Agency people need to be able to recommend these companies." These partners present media investment opportunities for agencies and clients alike as media plans shift to being less defined by scale. "A lot of these smaller companies don’t have the scale because they haven't seen the investment. It has to be looked at through a different lens," Drinkwater told Adweek. Drinkwater said the primary goal of the event is to provide its partner companies with a broader platform while educating agency talent and clients. She said its ultimate success will be measured by the degree to which it can help these partners achieve greater success. Should it succeed, Mediahub will follow up with subsequent related events with additional partners, possibly on a quarterly basis. If it doesn't accomplish that goal, the agency will revaluate alternative approaches for the future, she said. A broader shift to a more diverse future This effort is part of Mediahub's broader revaluation of its media investment priorities, with the goal of diversifying its approach to media investments. This event arrives as a number of other media agencies are taking steps to evolve their approach to media investments, including Dentsu Media's recent partnership with OZY Media. This week, MediaCom hired Liza Davidian as evp, investment and activation, while Publicis Media agency Spark Foundry hired Jason DaWayne Smith as president, diversified investments last month. Drinkwater explained that the idea for Diversity-Owned Media Day traces back to Mediahub's Project Change Committee, created in the aftermath of George Floyd's death last year. That committee developed an initiative to invest more in diversity-owned media companies. "As a media agency, it's important that we understand that we need to invest and seek opportunities that reflect the way the world looks. We haven't been true to that in the past, and we've changed the way we look at [demographics and consumers]," she said. "It would be a disservice to not understand the way in which the world is changing and not change the way that we plan and buy media." Those shifts also correspond to how Mediahub is addressing diversity, equity and inclusion within its own workforce. Drinkwater noted that the agency still has a long way to go. According to EEOC diversity data from the end of 2020, around 70% of Mediahub employees identify as female. Further, 29% identify as people of color: 12% identify as Asian, 8% identify as Latinx and 4% identify as Black while 72% identify as white For vp and higher roles, 13% of leadership positions are held by employees of color as of the end of 2020. Among the 100 new hires Mediahub made in 2020, the agency claimed that 40% were people of color, with 15% of new hires identifying as Black. Color and Diversity Must Be the Norm in TV and Advertising

Diversity, Equity and Inclusion

Mediahub Introduces Inaugural Diversity-Owned Media Day

The event gives partners a platform, while educating clients and agency employees

Erik Oster

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Erik Oster