Clear Channel Outdoor, Operation HOPE Partnership Promotes Black Businesses

Rhea-AI Summary

Clear Channel Outdoor (CCO) launched a billboard campaign supporting the '1MBB' initiative in partnership with Operation HOPE, aiming to build one million Black-owned businesses. The campaign, active since April, highlights the need for resources and guidance to bridge the gap for Black business owners, who have seen a 40% decline due to the pandemic. Currently, there are 2.6 million Black-owned businesses in the U.S., but 96% lack employees. Operation HOPE offers coaching and technical assistance to empower new and existing entrepreneurs.

Positive

• Launch of a billboard campaign to support Black-owned businesses.
• Partnership with Operation HOPE aligns CCO with a socially impactful initiative.
• Increased visibility for resources aiding entrepreneurs through digital advertising.

Negative

• Significant decline in working Black business owners by over 40% during the pandemic.
• Only 2.6 million Black-owned businesses exist, indicating a lack of economic representation.

LOS ANGELES, June 7, 2021 /PRNewswire/ -- Clear Channel Outdoor (CCO) recently launched a new billboard campaign in partnership with Operation HOPE to support the '1MBB' initiative. The campaign will run across select CCO digital billboards in Southern and Northern California to highlight 1MBB – an initiative to build one million Black businesses by offering tools and guidance to new and current business owners to start or revitalize their operations. 1MBB is one of many programs offered by Operation HOPE – a nonprofit for-purpose organization working to disrupt poverty and empower inclusion for low and moderate-income youth and adults.

Today, there are only 2.6 million Black-owned businesses in the U.S., of which 96% have no employees. Black-owned businesses account for only 9.5% of the U.S. total. In the face of the COVID-19 pandemic, the number of working Black business owners has fallen more than 40% – a far deeper drop than other racial groups. Operation HOPE's 1MBB initiative is working to address and close this gap.

Using a combination of proven business development curriculum, a dedicated group of professional small business coaches and an expanded team of 1MBB volunteers who are industry experts in areas like e-commerce, legal services, accounting, marketing and public relations, Operation HOPE is working to quickly connect new and existing business owners to the training and technical assistance that will help them to succeed.

"At Operation HOPE, our mission is to expand economic opportunity, making free enterprise work for everyone. The 1MBB initiative is helping us to fulfill this mission for individuals that might not have access to the resources they need to succeed, but have always dreamed of starting a business," said John Hope Bryant, Founder, Chairman and CEO, Operation HOPE. "It is critical that new and potential business owners are aware of the tools and guidance our organization can provide, and Clear Channel Outdoor is helping us to reach them through the powerful ability of digital outdoor advertising."

"Clear Channel Outdoor is proud to support the 1MBB initiative by leveraging our outdoor advertising assets to raise awareness about the resources available to Black business owners and entrepreneurs working to start or enhance their business," said Layne Lawson, vice president, public affairs, of Clear Channel Outdoor-Los Angeles. "We recognize the importance of spreading the message on critical initiatives like the one Operation HOPE is spearheading and we are honored to provide the resources needed to do just this."

The campaign was launched in April and is ongoing.  

To learn more about Operation HOPE and the 1MBB initiative, visit operationhope.org/1mbb/.

About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is one of the world's largest outdoor advertising companies with a diverse portfolio of more than 500,000 print and digital displays in 31 countries across North America, Europe, Latin America and Asia, reaching millions of people monthly. A growing digital platform includes more than 17,000 digital displays in international markets and more than 2,000 digital displays (excluding airports), including more than 1,400 digital billboards, in the U.S.

Comprised of two business divisions – Clear Channel Outdoor Americas (CCOA), the U.S. and Caribbean business division, and Clear Channel International (CCI), covering markets in Europe, Latin America and Asia – CCO employs approximately 4,700 people globally. More information is available at investor.clearchannel.com, clearchanneloutdoor.com and clearchannelinternational.com.

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SOURCE Clear Channel Outdoor

FAQ

What is the purpose of Clear Channel Outdoor's recent billboard campaign?

The campaign aims to support Operation HOPE's '1MBB' initiative, which seeks to build one million Black-owned businesses.

When did Clear Channel Outdoor launch the billboard campaign for '1MBB'?

The campaign was launched in April 2021 and is ongoing.

What challenges do Black-owned businesses face according to the press release?

Black-owned businesses have faced a 40% decline due to the COVID-19 pandemic, with 96% of them having no employees.

How many Black-owned businesses are there in the U.S.?

There are 2.6 million Black-owned businesses in the U.S., representing only 9.5% of the total.

What assistance does Operation HOPE provide to new business owners?

Operation HOPE offers business development training, coaching, and technical assistance to support new and existing Black business owners.