IPG Mediabrands Unveils Industry-First Equity Upfront™ to Raise Visibility and Receptivity of Black-Owned Media Businesses

Rhea-AI Summary

IPG Mediabrands announces the launch of Equity Upfront™, an innovative annual event aimed at enhancing the visibility of Black-owned and targeted media businesses, set for the week of March 15. Led by MAGNA, this initiative seeks to improve investment strategies and foster inclusivity in media partnerships. Key partners include Allen Media Group and BET Network, with clients like American Express and Johnson & Johnson participating. Mediabrands plans to expand this initiative to other multicultural platforms, demonstrating a commitment to equity across diverse media sectors.

Positive

• Launch of Equity Upfront™ to enhance media visibility for Black-owned businesses.
• Partnerships with notable media entities like BET Network and Essence Communications.
• Participation from high-profile clients such as American Express and BMW.

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• None.

IPG Mediabrands today announced it is introducing a first-of-its-kind Equity Upfront™, an annual weeklong event during the week of March 15^th, to raise visibility and receptivity of Black-owned and targeted media businesses. Led by Mediabrands entity MAGNA, the leading global media investment and intelligence company, the Equity Upfront™ will highlight entities across all media (i.e., linear, video/streaming, digital, radio and print). Among the confirmed media partners are Allen Media Group/Entertainment Studios, BET Network, Essence Communications and Urban One. Confirmed Mediabrands clients participating include American Express, BMW, CVS Health/Aetna, Johnson & Johnson, to name a few.

“As we reviewed our media partnerships at Mediabrands, we saw the need to be more inclusive in our media investment strategies with Black audiences,” said Daryl Lee, Mediabrands Global CEO. “The Equity Upfront™ is an opportunity to enact real change by increasing investment in often underrepresented media businesses that reflect the significant influence of Black consumers and trendsetters in the economy.”

MAGNA and Mediabrands used an equity and equality strategic investment (EESI) approach designed to measure and increase sustained investment and support of Black-owned and targeted media businesses.

“Our mission with the Equity Upfront™ is to move beyond intent and into actionable steps with minority and Black media partnerships,” said Dani Benowitz, President, U.S., MAGNA. “The minority consumer’s consumption patterns are influential across all media and we must take accountable steps forward to address the inequities in how we invest. I have no doubt this critical initiative will urge other industry partners to see where there are gaps in their media approach and how they’re contributing to BIPOC media partner oversight.”

“I am thrilled to be a part of an effort that is increasing sustained investment and support of Black-owned and targeted media businesses,” said Joy Profet, EVP, Head of Growth & Operations, MAGNA. “I have a passion for creating opportunity for audiences of color growing in influence, and I look forward to partnering with our media partners to help level the playing field for clients to access their audiences.”

While the inaugural 2021 Equity Upfront™ will focus on partnerships with Black-owned and targeted media businesses, Mediabrands will expand partnership efforts with other multicultural platforms including but not limited to the Latinx, Asian and LGBTQIA+ audiences.

ABOUT MEDIABRANDS:

IPG Mediabrands is the media and marketing solutions division of Interpublic Group (NYSE: IPG). Mediabrands manages approximately $40 billion in marketing investment globally on behalf of its clients and provides strategic services and solutions across its award-winning, full-service agency networks UM and Initiative, and through its innovative marketing specialist companies Reprise, Magna, Orion, Rapport, Healix, Mediabrands Content Studio and the IPG Media Lab. Mediabrands’ clients include many of the world’s most recognizable and iconic brands from a broad portfolio of industry sectors. The company employs more than 13,000 marketing experts in more than 130 countries, representing the full diversity of humanity. For more information, please visit our website: www.ipgmediabrands.com and be sure to follow us on LinkedIn, Twitter or Instagram.

ABOUT MAGNA:

MAGNA is the leading global media investment and intelligence company. Our trusted insights, proprietary trials offerings, industry-leading negotiation and unparalleled consultative solutions deliver actionable marketplace advantage for our clients and subscribers.

We are a team of experts driven by results, integrity and inquisitiveness. We operate across five key competencies, supporting clients and cross-functional teams through partnership, education, accountability, connectivity and enablement, also known as “PEACE.” For more information, please visit our website: https://magnaglobal.com/ and follow us on LinkedIn and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210302006030/en/

FAQ

What is the Equity Upfront™ initiative introduced by IPG Mediabrands?

The Equity Upfront™ is an annual event aimed at raising awareness and investment in Black-owned and targeted media businesses, led by MAGNA.

When will the Equity Upfront™ event take place?

The inaugural Equity Upfront™ is scheduled for the week of March 15.

Which companies are participating in the Equity Upfront™?

Participants include media partners like Allen Media Group and BET Network, as well as clients such as American Express and Johnson & Johnson.

What is the purpose of the Equity Upfront™?

The initiative aims to create actionable strategies for investing in underrepresented media businesses and to address inequities in media partnerships.

How is Mediabrands planning to expand the Equity Upfront™ initiative?

Mediabrands plans to extend its partnership efforts to include other multicultural platforms, such as Latinx, Asian, and LGBTQIA+ media.