Diddy is calling out corporate America for devaluing Black-owned media and underpaying the same people they claim they love.
Diddy has penned an open letter to corporate America, addressing the constant disrespect towards Black culture and Black media, in general. The media mogul points out that the same corporations which claim to support all things Black are the same ones that often profit off of us in the most culture vulture of ways.
The entrepreneur makes a point to mention General Motors noting that they claimed to support Black-owned media like his, Revolt, and yet, have yet to invest in the company. Essentially, Diddy is calling for action from these companies instead of chatter. The letter isn’t a hit piece, but more of a calling out on how we can fix this issue together while living up to claims companies have made over the years.
“It’s disrespectful that Black-owned media companies only represent 1% of the total advertising market,” wrote Diddy. “It’s disrespectful that distributors refuse to carry Black-owned media brands in an era where our impact and influence is undeniable.”
He continues, “It’s disrespectful that the same community that represents 14% of the population and spends over $1.4 trillion annually is still the most economically undervalued and underserved at every level. To repeat, $1.4 TRILLION ANNUALLY! The Almighty Black Dollar!”
Diddy does offer a simple solution within his open letter:
“Corporate America should reinvest an equitable percentage of what they take from our community, back into our community. If the Black community represents 15% of your revenue, Black-owned media should receive at least 15% of the advertising spend.”
It’s that simple.
You can read the letter in full here.