Group Black Inc., a collective aimed at deepening the pipeline of Black-owned media companies, launched Tuesday with an ad-spending target of $75 million from a WPP PLC unit.
The new collective and business accelerator seeks to attract ad spending from marketers that are trying to diversify where they advertise.
Group Black aims to advise advertisers and agencies on possible media plans with its members, which include Essence Communications Inc., the publisher of Essence magazine, which focuses on Black women; Holler Technologies Inc., which specializes in stickers and GIFs for digital messages and posts; esports startup PlayVS and news companies Shade Room LLC and Baller Alert Inc.
The new collective also plans to invest a portion of its revenue to buy equity stakes in Black-owned media companies.
Original post from Nat Ives/The Wall Street Journal
Read more here: https://www.wsj.com/articles/black-owned-media-collective-launches-to-help-brands-meet-new-ad-commitments-11624960801
