In recent years, there’s been a tremendous push among brands and businesses to increase their investments in diverse-owned media. From an advertiser perspective, the reasons and benefits of doing so are numerous. Over time, the hope is that these efforts will lead to much-needed systemic change within the media landscape and representation within it.
For diverse-owned media outlets, the increased interest and investment have been a boon, with overall spend on diverse-owned media growing at an 80% annual rate from 2020 to 2022. Such sudden and intense focus can feel like a bit of a gold rush. However, it is important to remember that the whole point of this elevation of diverse-owned media is to lay the foundation for sustainable change. Both advertisers and diverse-owned media outlets need to act accordingly.
For diverse-owned media outlets, the elevated awareness of the importance of varied voices in media is an opportunity. But it also brings challenges, hidden among the details.
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