Love your Cover Girl? Nielsen just compiled a list of companies spending the most to advertise to the African-American community, and Cover Girl parent company, Procter & Gamble, has topped the list.
Still the advertising dollars companies spend on black media do not compare to the billions spent in the general market media. “Black media receives only 2 percent of the $120 billion advertising dollars spent with general media,” reports Insight News. “The top 10 advertisers spent a total of $321,892,840 with African-American media in 2012, up 1.99 percent over 2010.” P&G spent $75.3 million and rounding out the top three are L’Oreal ($39.9 million) and McDonald’s ($34.9 million).
According to Nielsen and the National Newspaper Publishers Association in the 2011 report “State of the African-American Consumer,” black buying power will reach $1.1 trillion by the year 2015. The prospect of making money is is driving companies to increasingly target the African-American consumer.
Here is the list of top advertisers, as reported by Black America Web:
1) Procter & Gamble
3) Johnson & Johnson
4) General Motors
5) Mc Donald’s
7) U.S. Government
9) Berkshire Hathaway (car insurance, life insurance, annuity sales and sales of jewelry)
10) National Amusements
Which of these products do you use? Are you more likely to use products that are advertised in black media?