Annual Edition 'Buying Power of
Black America' report breaks down billions in expenditures Black
consumers are responding to tighter economic condition by focusing more of
their spending on items and services that improve their homes and
lifestyle. That's one of the trends revealed in the 15th annual report,
"The Buying Power of Black America," published by Target Market News. The
report analyzes spending for black households in 2008 and finds that
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calls on Comcast-NBCU to increase ad spending with black media Points
to billions in "trade imbalance" with black community (July
12, 2010) Today, the Rev. Jesse L. Jackson, Sr., president and founder
of the Rainbow PUSH Coalition, called on Comcast and NBC Universal to
address the economic trade imbalance between Black-owned media and
advertising firms which have been ignored in the hearings concerning the
proposed merger of the two media giants.
"The current economic relationship between African-American-owned media
and advertising firms and Comcast/NBCU has not been a part of the
discussions taking place about this merger," said Rev. Jackson. "These
two media companies have a multi-Billion dollar trade deficit with
African-American consumers. A mutually beneficial trade relationship
must be negotiated to end the media and economic segregation that
Among the economic facts that Rev. Jackson said must be considered are
- Black consumers spend more than $9 Billion a year for cable service
and Internet service, most of that going to Comcast, according to data
from the federal government.
- The Black community sends a half-Billion dollars every single month to
Comcast for cable and Internet service. And Black consumers pay more per
household than any other consumers because they're more willing to pay
for premium cable service and the fastest Internet service.
- Comcast and NBCU have not negotiated with Black-owned media companies
or ad agencies about advertising directed to Black consumers.
Advertising represents the largest sum of money Comcast and NBCU spend
with the Black community every year.
- According to industry figures, Comcast and NBCU last year collectively
spent more than $1.5 Billion in advertising. Only $6.3 Million was spent
on advertising in Black media -- less than 1/2 of one percent.
Practically none of that money was spent with Black-owned media.
"We need a fair trade agreement between Comcast-NBCU, Black-owned media
companies, and Black-owned ad agencies and public relations firms," said
Rev. Jackson. "A merger between Comcast and NBCU will mean that there
will likely be no competition possible for the billions of dollars we
spend for cable service, Internet service and Black-oriented news and
public affairs programming, and no possibility for greater minority
ownership of television, cable, Internet and other media platforms."
The Rainbow PUSH Coalition recently
announced the formation of The Marketing & Media Project
to join RPC's other industry-focused projects whose mission is to
protect, defend, and gain civil and economic rights by leveling the
playing fields. A Steering Committee has been formed within The
Marketing & Media Project consisting of Danny Bakewell of the National
Newspaper Publishers Association (NNPA), Jim Winston of National
Association of Black Owned Broadcasters (NABOB), Eugene Morris of the
Association of Black-Owned Advertising Agencies (ABAA), and Robert Bogle
of the African American News and Information Consortium (AANIC).