Brian Steinberg-Senior Entertainment audience voice Brian Steinberg-Senior

Interpublic’s Mediabrands Vows to Raise Ad Budgets for Black-Owned Media by 2023

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variety.com

Brian Steinberg Senior TV EditorBig advertisers like General Motors and Target say they intend to pay more attention to Black-owned media outlets.

Now Interpublic Group, one of the nation’s biggest advertising companies, intends to follow suit.Interpublic’s large Mediabrands media-buying unit said Friday it expected to spend “a minimum of 5%” of its clients’ ad budgets in Black-owned media by 2023, the latest in a series of efforts by big advertisers and Madison Avenue agencies to correct decades of disparity between what is spent in traditional mainstream media and what is allocated for media outlets owned by entrepreneurs from a variety of backgrounds.

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