While the recent advertising slowdown has also impacted the amount of money allocated to marketing to media companies created for non-white audiences, Parker Morse, CEO and founder of My Code said that it hasn’t stopped marketers from realizing the value in reaching multicultural audiences.
In fact, while the industry standard is 5% of advertiser budgets earmarked for multicultural marketing, that figure has turned into a floor, not a ceiling, over the past few years, he said, adding that the expectation is that 2024 will see a return to growth in this sector.
On the latest episode of the Digiday Podcast, Morse talks about how My Code is iterating on the go-to-market strategy this year to ensure marketers are aware of the value in reaching multicultural and historically underrepresented audiences, both from a buying power perspective, but also from a sheer volume perspective. Morse also discusses how My Code has spent the past three years building out the portfolio of Hispanic audience-focused publications to build a more holistic representation of Latinx consumers in the United States.
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