Black Stats Frequently requested
data on African American consumers
Black Buying Power:
$836 Billion (2010)
Black U.S. Population:
Top Five Black Cities
- New York
Top Five Black Metros:
- New York-New Jersey
- Los Angeles
Top Five Expenditures:
- Housing $203.8 bil.
- Food $65.2 bil.
- Cars/Trucks $29.1 bil.
- Clothing $29.3 bil.
- Health Care $23.6 bil. ______________________
Quick access to key stats
Click here to go to African-American Census Bureau
2010 by Target Market News Inc. All rights reserved
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Chicago, IL 60604
Johnson's investment makes him part-owner and chairman of Vibe Holdings By
From the Los Angeles Times (February 10, 2011) With a multimillion-dollar investment, Lakers
Hall of Famer Magic Johnson is set to become chairman of a New
York-based magazine and television company that he says is poised to tap
into a coveted urban audience.
Johnson, 51, will be chairman of Vibe Holdings, the parent company of
Vibe magazine and owner of the music-and-dance TV show "Soul Train,"
including its star-studded performance library. No financial details of
the deal were disclosed, although a Johnson spokeswoman described it as
"an eight-figure investment."
Johnson made the deal in partnership with the Yucaipa Cos., a Los
Angeles-based investment firm headed by billionaire Ron Burkle. It is
the first step of a process aimed at revitalizing Vibe Holdings and
making it the center of influence for an urban audience he has reached
with other businesses in the past, Johnson said.
"We know where they are and we know how to reach them," Johnson said.
"They are loyal to our brands."
Vibe Holdings is also the parent company of magazine publisher Uptown
Media and more than 25 websites. Vibe magazine is published six times a
year and is currently found only on newsstands.
The company's brands, particularly Vibe magazine and Soul Train, have an
especially loyal fan base in the African American market but have
historically reached beyond it, making them attractive to advertisers as
a "tastemaker for overall culture," said Peter Kern, a managing partner
at New York-based InterMedia Partners, which owns a stake in the
Johnson said the company planned to bring the show back to television
and begin licensing content. The company owns about 300,000 photos and
about 1,100 hours of video of performances by music legends including
Stevie Wonder, Marvin Gaye and the Jackson 5.
Controlling the Soul Train brand also gives the company an opportunity
to rejuvenate the influence the show had on popular culture during its
heyday with today's audience, Johnson said. "I learned how to dance
watching 'Soul Train.' We're going to make it hip and young again."
As chairman, Johnson said, he would be involved in business strategy and
engaging advertisers but would leave day-to-day operations to the
current leadership. The company would also attempt to acquire other
media that complemented its strategy.
"We're open for more business," Johnson said. "We have an opportunity to
take this to a whole other level."
In October, Johnson sold his 4.5% stake in the Lakers to billionaire
Patrick Soon-Shiong and sold 105 Starbucks coffeehouse franchises back
to the company for a reported $75 million. Johnson has also expressed
interest in one day becoming a majority owner of a professional sports
team and has been involved in the push to bring a National Football
League team back to Los Angeles.
ORDER TODAY! New
"Buying Power" report: Black consumers spend as economy grows Details $507
expenditures African-American consumers are cautiously increasing their
spending in some key product categories, even as they continue to make
adjustments in a slowly growing economy. The finding comes from the soon
to be issued 16th annual edition of "The Buying Power of Black America"
In 2009, black households spent an estimated $507 billion in 27 product
and services categories. That's an increase of 16.6% over the $435 billion
spent in 2008. African-Americans" total earned income for 2009 is
estimated at $836 billion...