African-Americans represent 14.4% of the American population, yet only 2.6% of major media advertising is spent on African-American media, details Nielsen in a recent study [download page], with this imbalance relatively unchanged from last year. The report notes that a growing share of African-American households earn at least $50,000, and that this consumer segment’s purchasing power is growing. Indeed, as of Fall 2013, African-Americans controlled an estimated 9% of national discretionary spending, a substantial increase from the 3 years prior (7.7-7.9%).
But while African-Americans value diversity in advertising, spending on African-American-focused media remains low relative to overall major media ad spending. Indeed, the $2.6 billion spent with media focused on African-American audiences (on cable TV, national magazines, network TV, spot radio and syndicated TV) comprised just 2.6% of the $69.3 billion spent on those platforms last year. That $2.6 billion did, however, represent a 7% increase from 2012 – as opposed to a 2% increase in overall major media spend.
The industries increasing spending by the most on a year-over-year basis last year were:
It’s interesting to see universities increasing spending: recent data from the US Census Bureau indicates that African-Americans had above-average college enrollment rates last year.
Meanwhile, the Nielsen report also includes the top industries by spending on African-American-focused media:
Of the top 10 industries, just one (candy) also landed on the list of fastest-growing spenders.
In other African-American media and advertising-related data, Nielsen reveals that:
Topics: African-American, Automotive, Cable, Demographics & Audiences, Education, Financial Services, Food & Restaurants, Magazines, Media & Entertainment, Network, Newspapers, Pharma & Healthcare, Radio, Retail & E-Commerce, Spending & Spenders, Telecom, Traditional, TV Advertising
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