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    Default African-American buying power growing, black media slighted

    From The Denver Post:

    And you thought Hispanics were a huge and powerful consumer minority. A new report finds African Americans watch more TV and make more shopping trips than any other ethnic/minority group. But black media outlets aren’t getting their fair share of the country’s advertising dollars.
    “Resilient, Receptive and Relevant: The African-American Consumer 2013 Report,” by Nielsen in collaboration with the National Newspaper Publishers Association, finds that African-American buying power is expected to rise from its current annual level of $1 trillion to $1.3 trillion by 2017. (The buying power of the Hispanic market is projected to reach $1.5 trillion by 2015.)
    The discouraging word is that, of the $75 billion spent nationally each year on television, magazine, internet, and radio advertising, only $2.24 billion of it was spent with media focused on Black audiences. “Black businesses, agencies and media continue to wrestle with this disparity as it is not reflective of the overall, high consumption patterns and behavioral trends of the Black consumer,” the report said. More bluntly, “advertisers continue to slight black media with advertising dollars dedicated to this community, spending only three percent or $2.24 billion of $75 billion spent with all media in 2012.”
    The report also noted that:
    53% of the 43 million Blacks in the U.S. are under age 35, and the Black population is growing 40% faster than the general market population.
    Blacks watch more television (37%), make more shopping trips (eight), purchase more ethnic beauty and grooming products (nine times more), read more financial magazines (28%) and spend more than twice the time at personal websites than any other group.
    Heavy TV consumers, blacks spend seven hours and 17 minutes per day viewing TV, compared to five hours and 18 minutes of total viewing for total market. Black women, especially those 18-49, tend to be heavier viewers than their male counterparts. In general, black viewers favors programs with diverse casts.
    The top programs among black viewers 18-49:
    “Love & Hip Hop Atlanta 2″ (VH1) 2.1 million viewers
    “Scandal” (ABC) 2.1 million
    “Real Husbands of Hollywood” (BET) 1.7 million
    “Real Housewives of Atlanta” (Bravo) 1.4 million
    “T.I. and Tiny 3″ (VH1) 1.4 million


    More...

 

 

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