The Black American Consumer 2022

31 May 2022

Companies

MAGNA and Identity’s report on the Black American Consumer takes a deep dive into this young, influential demographic that has a median age of 32, a population of 47 million (greater than the population of Argentina), and a buying power of $1.6 trillion. Despite this growing spending power, however, ad spend on Black audiences has steadily decreased from $2.3 billion in 2019 to $1.5 billion in 2021. These findings expose the gap in brands’ advertising investment in this audience relative to the audience’s size, influence, and buying power.

MAGNA focuses on consumer, culture, and consumption, and advises brands to reverse the trend of under-investment in Black audiences, empower Black America as the heaviest consumers of media in most categories, and push for greater representation.

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