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Digital media is ever-present in our lives.
A Forbes Home survey found that Americans spend an average of three hours and nine minutes a day streaming digital media, and 99 percent of all US households subscribe to one or more streaming services.
At the start of 2024, US audiences had more than 1.1 million unique video titles across platforms to select, compared with 656,000 at the start of 2020, according to Gracenote’s newest report, Diverse by Design. The data also shows that 68.5 percent of 2024’s TV content is inclusive, and streaming content reaches 75.3 percent of BIPOC representation in casts.
The report, which dives into Gracenote Inclusion Analytics data, highlights the growing opportunities for inclusive ad spending and the significant impact of such investments on brand trust and audience connection.
“Gracenote Inclusion Analytics empowers media buyers to understand these opportunities clearly so they can make data-driven investment decisions on behalf of their clients and increase the inclusivity of their ad spending more broadly,” said Halleh Kianfar, vice president of product at Gracenote, in a statement.
Here are a few key takeaways from the report:
Representation in Content: Programs like those on Disney+ and Hulu have significantly increased the inclusion of Hispanic/Latino and Asian and Pacific Islander talent. For instance, Disney+ increased its inclusion of Hispanic talent by over 103 percent year-over-year, demonstrating a commitment to more diverse casting.
Brand Investment in Inclusive Content: Only 2.4 percent of brands invested in linear TV programming where women accounted for at least 51 percent of the primary cast in 2023, highlighting a significant underinvestment in content inclusive of women, despite women making up over 50 percent of the US population.
Inclusive Ad Spending Increases Engagement: Brands that invest in inclusive advertising, particularly in content featuring diverse casts, see higher engagement and a stronger connection with their target audiences. For example, 50 percent of Hispanic audiences are more likely to buy from brands whose ads feature someone from their identity group.
Ad Spending Disparities: Financial services underinvest in content inclusive of women and BIPOC communities, while industries like pet care overinvest in content inclusive of Asian and Pacific Islander talent but underinvest in Hispanic-inclusive content. This reveals opportunities for more balanced ad spending across different identity groups.
Opportunities in Diverse TV Programming: In 2024, 68.5 percent of new TV programs will feature BIPOC representation in their main casts, providing ample opportunities for advertisers to invest in inclusive content.
Prominent Hispanic Representation in Popular Shows: Shows like NBC’s Lopez vs Lopez have high percentages of Hispanic/Latinx talent—74 percent of the cast is Hispanic/Latino—demonstrating successful examples of inclusive programming. Investing in advertising during such shows can help brands tap into the power of cultural affinity and authenticity.
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The significance of diverse-owned and representative ad spending cannot be understated as the digital media landscape continues to evolve. Embracing these strategies is not only about keeping pace with industry trends, but also about forging authentic connections and driving meaningful engagement.
This article was written with the assistance of AI.
