‘Massive need’: Inside a new venture to attract ad dollars to diverse-owned media companies
Joe Anthony sees Hero Media, a new media company he founded earlier this June, as one that’s akin to Condé Nast or Vice. With a growing portfolio of brands, they’re not there yet, of course, but one day.
“We saw a massive need to help diverse-owned media companies get exposed to dollars that they historically didn’t have access to,” said Anthony of the venture. “Hero Media’s mission is bringing greater to parity in the investment in diverse-owned media platforms and for diverse creators.”
Anthony’s game has so far been acquiring companies that are independent and owned by non-white executives, including the non-profit striving to make changes in their community.MADE BKLYNThe film studio that makes independent and commercial films good lookthe luxury lifestyle and influential magazine Uptown Magazineand the content and communications hub MyCoop. Aside from creating content, it will also provide the mechanics for advertisers to establish advertising on these channels and develop an online presence.
Multicultural-owned media companies, like multicultural ad agenciesboth suffer from a significant lack of investment. While that’s something brands have publicly stated they are working to commit more ad dollars to with pledges made over the last two years to do more and do better it’s still a problem that needs long-term commitment. This is also despite multiple agencies, such as GroupM and Havascreating programs in the last two years to attract ad dollars to non-white-owned media companies.
The plan is for Hero Media to help better