By Steven Marcano
Media, social media and ad sales are all targeted towards the spending power of certain groups, millennials, multicultural and minority markets, Hispanics and African Americans. If you combine the spending power of all of these genres, it comes to almost $4 trillion dollars. However, the African American market alone represents $1.4 trillion dollars. This is the reason there are so many Black executives running billion dollar empires, as well as working as Hedge Funds investors.
The power of social media to influence spending is so amazing that corporate America has invested millions of dollars in these campaigns and have built more brands at record speeds such as Fashion Nova, which has partnered with Cardi B, being worth almost a half billion dollars. We must also mention Pretty Little Thing, whose growth and progress is at an all time high. There are a ton of make-up and liquor companies with small ones making millions, while the leaders build billion dollar companies. In cosmetics, Rihanna and Kylie Jenner have billion dollar brands. In the electronics world, Beats by Dre is a billion dollar brand. According to Forbes, Kanye West is now a billionaire with all of his athletic apparel. Billion dollar wine and spirits brands include Ciroc.
Oprah Winfrey’s OWN Network is considered a minority channel, but the majority of it is owned by non- minority corporations. The same goes for several other networks and partnerships that can help the road to black excellence. The partnership of G Unit films and television lead to six seasons of a predominately black cast of Power for STARZ ,and then followed right back up with For Life on network television while Tyler Perry Studios are leading the way in film. Now, Impact, America’s biggest African American owned network, a faith based network which is currently being positioned to dominate the industry of sports live boxing while partnering with the SMH Group .
So let’s just not build billion dollar brands. Let’s become billion dollar brands and control the narrative of our Trillion Dollar media space.