More Black Local Broadcast, Cable Channels Possible, Firm Reports
According to a recent story in Broadcasting and Cable online, a leading U.S. media buying firm has documented the financial viability of local TV channels targeted to the African American community as well as additional cable networks. Though African American audiences tune into Black Entertainment Television (BET), TV One and other national cable networks, a report on multicultural media by the MAGNA Global media buying company says that with the coming of digital multicasting technology, additional broadcasting formats focused on African American consumers are not only possible but would be attractive to advertisers.
MAGNA Global Director of Industry Analysis Brian Wieser, the author of the report, has written that there’s more potential for competition to BET, saying, “The economics of cable should allow for several networks…. The upstart TV One, backed by partial ownership from Comcast, should successfully demonstrate the demand for this format,” according to the September story in Broadcasting and Cable online.
The New York-based MAGNA Global controls a multi-billion dollar budget of media spending for advertising giant, the Interpublic Group of Companies, which includes ad agencies McCann-Erickson and Initiative.
Wieser has said such targeted media remain “undeveloped relative to their long-term potential,” citing a list of positives including large concentrated populations and “manageable” distribution issues. “With advertiser support and experimentation,” says the report — and Magna Global suggests it would be wise for advertisers to start experimenting — “these media may become new vehicles for marketers to effectively reach audiences of the future.”
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