Corporate brands are long overdue in paying attention to Black-owned media companies. Nielsen — a data and market measurement firm — is finally revealing why.
The company recently announced the launch of their Diverse Media Equity Program, which seeks to better survey diverse content historically excluded from media measurement, fund certification fees for diverse owned media and launch the first report on diverse media reach and audience profiles in its history.
According to Deadline, Nielsen is also partnering with P&G to launch a $130K reimbursement program with the National Minority Supplier Development Council (NMSDC) to provide more than 200 diverse publishers the benefits of Minority Business Enterprise (MBE) certification.
This all dovetails into their report, released Monday, which examines Black-owned media consumption insights and why brands should be paying attention.
The report, Diverse-Owned Media: Audience Reach and Profiles, focuses on what investing in Black-owned media means for brands. The report pointed out that in 2021, 20 of the top advertisers pledged 2% – 5% of their ad spend to Black-owned media. These long-term commitments can transform business for diverse owners and bring authentic brand partnerships to their audiences.
“Nielsen is investing in diverse owned media by getting rid of historical barriers in traditional measurement,” said David Kenny, CEO, Nielsen. “Advertisers and the media industry recognize the need to be more inclusive and want to ensure they reach an audience that is increasingly diverse. We are leading the charge to develop a consistent framework and metrics to help demonstrate the value of diverse owned media.”
The report underscores that Black audiences are driving demand for content where their identity is represented on screen. Some of the report’s key findings show that Black Americans are 14% of the U.S. population, but they account for 43% of the time that Americans spend with Black-owned national TV, watching 70 million hours in an average month. People who watch content on Black-owned networks subscribe to cable at higher rates, with viewers 18% more likely than the general market to have a traditional cable package. Black-owned network audiences are actually less likely to use TV-connected devices or subscription streaming services than TV households overall. Black-owned radio stations in major markets reach nearly 10% of listeners. But in some of the smallest metros, Black-owned stations attract sizable market share and considerable listener engagement. Black listeners outside the top 50 metros average almost twice as much time with Black-owned radio stations each week than listeners across the U.S.