Byron Allen, CEO of the Allen Media Group. Image: Youtube/Hot 97
IPG Mediabrands, a self-described client-first, community-driven group of 13,000 media and marketing specialists, has committed to invest at least 5% of its advertising budget in Black-owned media across all its clients by 2023.
The announcement comes as brands and their advertising agencies are being pushed to spend more with Black media companies. IPG’s commitment leaves room for clients to spend more than 5% of their ad budgets in Black-owned media.
“The time is past due to embrace the opportunities to connect with influential audiences through Black-owned media,” Daryl Lee, global CEO at IPG Mediabrands, said in an emailed statement. “Innovation and growth are flourishing across Black-owned media outlets, providing brands with deeply authentic ways to reach diverse audiences in a supportive, meaningful manner. We are excited to be adding our voice to a growing industry conversation in support of greater d
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