IPG Mediabrands and MAGNA Host Second Equity Upfront™
15 Apr 2022
MAGNA, the investment and intelligence company of IPG Mediabrands, hosted its second annual Equity Upfront™ on April 5 – 7th, 2022. The theme for this year’s hybrid event was “Invest for Impact,” focusing on the impact of diverse audiences on media consumption and brand loyalty.
The Equity Upfront™ aims to accelerate support of Black-owned media businesses, and allows brands to schedule collaboration workshops with media owners to plan for upstream investments in critically important diverse audiences.
MAGNA’s overarching goal of the Equity Upfront™ was to redress gaps in how our industry engages with media businesses that are diversely owned. By enabling deep collaboration with diverse-owned media companies, this year’s Equity Upfront™ created a critical pathway toward achieving Mediabrands’ previously announced commitment to invest an aggregate of 5% in Black-owned media by 2023. Confirmed media partners include Byron Allen’s Allen Media Group, Ebony Media, ReachTV, REVOLT, Group Black, Urban Edge Network, NuTime Media, Black Enterprise, and more.
“After last year’s inaugural Equity Upfront™, we pledged to invest a minimum of 5% in Black-owned media to reverse long-standing inequities in the advertising industry,” said Dani Benowitz, President, U.S., MAGNA. “We’re very happy to report that since then, MAGNA has added new bespoke partnerships that extend to innovative integrated marketing programs and content solutions. We remain committed to creating more breakthrough opportunities and using our audience insights and consultative reach to support diverse-owned media suppliers in impactful ways.”
The 2022 Equity Upfront also included media partners from Hispanic, Asian American Pacific Islander and LGBTQIA+ communities in an effort to inspire a greater understanding of how these audiences are growing in economic and cultural influence. The hybrid experience hosted media sessions that showcased opportunities around GenZ/Millennial focused outlets, across sports and influencer markets, as well as health and pharmaceuticals. It also coincided with the launch of MAGNA’s latest research on Black consumers and featured the release of MAGNA’s new equity portal, a media guide of diverse owners designed to further media investments.