General Motors is revealing a new plan to spend more advertising dollars with media companies that have diverse ownership.
On Friday, GM revealed a new five-part plan — the result of a series of meetings between CEO Mary Barra and Black-owned media representatives over the past three weeks — that will offer better access to advertising dollars with GM.
The new plan comes after a series of full-page ads in several newspapers in which some Black-owned media leaders accused GM and Barra of systemic racism for refusing to take a meeting with the media leaders and allocate a greater portion of the advertising budget with Black-owned media.
Here are the five key parts of the plan GM said it will provide:
- Better measurement tools such as Nielsen ratings
- More favorable payment plans from GM and multiyear advertising deals.
- Boost its ad spend with Black-owned media from 2% to 8% by 2025.
- Earmark $50 million over 10 years to further support diversity in marketing and sponsorships beyond advertising.
- GM will also hold a “summit” on May 14 exclusively with leaders of companies with diverse ownership. This will allow those leaders to pitch their proposals to GM ahead of the mainstream media pitch session that occurs later in the month, thereby giving them earlier access to GM’s advertising budget allocation process .
“This action plan will transform our engagement model with diverse media in a sustainable way,” said Deborah Wahl, GM global chief…