General Motors, one of the nation’s largest advertisers, is trying to build new roads for minority-owned media outlets, part of a broader push on Madison Avenue to address a large gap between what is spent on large national media properties and media companies operated by owners from diverse backgrounds.
The nation’s largest automaker said it intends to hold an “upfront” with minority-owned media outlets that will give those companies a chance, essentially, to make a pitch for some of its ad dollars. The proposed summit “will encourage existing and potential partners to submit an overview of their business for consideration by GM for deeper engagements,” the automaker said Friday. “The process that will be used for the selection of media will be accredited by a third party to ensure fairness and transparency>”
GM has come under scrutiny in recent weeks for how it allocates its ad dollars. A group of Black media leaders, including entrepreneur Byron Allen, used newspaper ads in the Detroit Free Press and Wall Street Journal to deliver an open letter to GM CEO Mary Barra, suggesting the manufacturer of Cadillac and Chevrolet spent less than 0.5% of its advertising in Black-owned media outlets. GM on Friday reiterated plans to double its “commitment for spending with Black-owned media to 2 percent in 2021 and 4 percent in 2022, with a goal of reaching 8 percent by 2025.”
More to come….
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