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  • U.S. Secretary of Commerce Announces Minority Business

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    U.S. Secretary of Commerce Announces Minority Business Development Agency Grant Awards – Minority Business Development Agency Issuing $13 Million in Grants through Broad Agency Announcement

    WASHINGTON (November 30, 2018) – Today, U.S. Secretary of Commerce Wilbur Ross announced that the Minority Business Development Agency (MBDA) of the Department of Commerce awarded over $13 million to 35 projects in communities across the country. The grants, which are part of MBDA’s new Broad Agency Announcement initiative, reflect critical Department of Commerce priorities including space commerce, aquaculture, disaster relief, and black entrepreneurship efforts.

    “Under the guidance of President Trump, American businesses have reached unparalleled heights,” said Secretary of Commerce Wilbur Ross. “These grant awards will help ensure that all Americans across the spectrum continue to reap the benefits of our thriving economy.”

    “Minority business enterprises each have a unique and critical role to play in the national economy as well as in countless local communities nationwide,” said MBDA National Director Henry Childs, II. “Through these grant awards, we are directly impacting those who MBDA was created to serve.”

    The Minority Business Development Agency is expanding its former use of the Broad Agency Announcement approach to fund projects in these Departmental priority areas that, in turn, promote and ensure the inclusion and use of minority enterprises. Businesses, nonprofits, state and local governments, Indian Tribal governments, as well as educational institutions were all eligible to receive awards.

    As a result, the projects that received funding were geographically and commercially diverse. Organizations such as the United States Space Foundation, Howard University, the Asociación Productos de Puerto Rico, and the El Paso Hispanic Chamber of Commerce were all grant recipients.

    The Minority Business Development Agency’s mission is to link minority-owned businesses with the capital, contracts, and markets they need to grow. Serving as subject matter experts and advocates for the minority business community, they conduct high-quality research and help minority-owned businesses cultivate domestic and international relationships. MBDA is the only Federal agency created specifically to foster the establishment and growth of minority-owned businesses in America.

    For a full listing of MBDA’s 2018 grant awards, visit www.mbda.gov/news.

    About the Minority Business Development Agency (MBDA)
    MBDA, www.mbda.gov, is the only Federal agency dedicated to the growth and global competitiveness of U.S. minority-owned businesses through the mobilization and advancement of public and private sector programs, policy, and research. Our services provide greater access to capital, contracts, and markets and better equip minority-owned firms to create jobs, build scale and capacity, increase revenues and expand regionally, nationally and internationally.

    Contact: Velicia D. Woods, 202-482-6272, [email protected]

  • Pennies from Kevin Podcast: In the Race or on the Sidelines of Business?

    You have to make a decision on which part you play in a race because it is what life is all about. Nobody really knows why they are successful they are guessing, for the most part it’s about doing what you love and someone seeing it and the right time. With the time that you have left, which is not guaranteed, what are you going to start doing NOW to change your life for the better? (hear podcast). We do not accept CPC or affiliate advertising. To advertise directly on the podcast contact [email protected]

  • The Weeknd Announces New Project To Foster Innovation For

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    THE WEEKND ANNOUNCES NEW PROJECT AT TORONTO SHOW FOR THE OPENING OF HXOUSE (click the link below for announcement)

    The Weeknd

    HXOUSE is a next-generation incubator and accelerator that is at the forefront of fostering innovation and opportunity for creative black entrepreneurs. We facilitate connections between talent and industry to build mutually beneficial relationships between future talent and current industry titans.

    A not-for-profit venture established by la mar taylor, the creative director behind the weeknd/xo brand.

    Our mission is to empower young black entrepreneurs with the tools, programming, mentorship, network, funds, and freedom they need to activate their talent and translate it into a sustainable career that promotes industry innovation.

  • Byron Allen’s Entertainment Studios Hires Ronnie Ng As CFO

    Byron Allen’s Entertainment Studios Hires Ronnie Ng As Chief Financial Officer And Head Of Corporate Development
    Will Manage Corporate Finances, Strategic Investments, Risk Management, and Data Analysis for All Entertainment Studios/Allen Media Corporate Entities

     

    black owned, black black entrepreneurs, gig, side hustles
    Ronnie Ng

    Byron Allen’s Entertainment Studios, Inc. (www.entertainmentstudios.com) one of the largest independent producers and distributors of film and television, with 41 television shows on the air, and owner of eight 24-hour HD television networks including the recently-purchased The Weather Channel for a reported $300 million, proudly announces the appointment of Ronnie Ng as Chief Financial Officer and Head of Corporate Development. Ng will work out of the Entertainment Studios headquarters in Los Angeles. Last month, Entertainment Studios announced it had secured $500 million in credit facilities for general business purposes: productions, co-productions, and acquisitions.

    In his new position, Ng will manage corporate finances, strategic investments, risk management, and data analysis for all Entertainment Studios corporate entities under Allen Media, including broadcast television syndication, advertising sales, all eight 24-hour HD television networks, and digital platforms — as well as theatrical motion picture co-productions and global distribution for Allen’s theatrical and digital movie distribution divisions Entertainment Studios Motion Pictures and Entertainment Studios Digital Media. Ng reports directly to Entertainment Studios/Allen Media Founder, Chairman, and CEO, Byron Allen, and will work closely with Executive Vice President of Finance and Chief Investment Officer, Eric Gould.

    Ng has more than 17 years of experience in negotiating and structuring mergers and acquisitions and leveraged finance transactions within the media and entertainment industry. Ng comes directly to Entertainment Studios after five years at TCW Group, which has approximately $198 billion in assets under management. At TCW, Ng was Vice President in the Fixed Income Group, where he specialized in media and technology corporate debt and bond investing. Prior to joining TCW Group, Ng was Executive Director of Media & Communications Group with UBS Investment Bank for six years. Before joining UBS Investment Bank, Ng held similar investment banking positions at Deutsche Bank Securities and Houlihan Lokey. Ng also held positions at Arthur Andersen LLP. Ng earned his B.S. degree from University of Illinois at Urbana-Champaign.

    “Ronnie Ng is an outstanding addition to our Entertainment Studios/Allen Media family,” said Byron Allen, Founder, Chairman, and CEO of Entertainment Studios/Allen Media. “Ronnie’s extensive corporate and financial investment experience makes him a very strong executive joining our team as we continue to grow our global media and technology company and aggressively pursue mergers and acquisitions.”

     

  • Brilliant Entrepreneurs KNOW When to Seize a Great

    Brilliant Entrepreneurs KNOW When to Seize a Great

    During a typical rush hour day on the LA freeways, this black entrepreneur saw an opportunity after an accident caused gridlock and he opens up his mobile food stand to serve pissed off passengers. Can’t be mad at brilliance…

    
    

    Food Truck On Freeway

    LOOK AT THIS …

    A food truck serves stranded drivers on the 105 Freeway in Los Angeles following a tanker crash and explosion early this morning that forced the closure of the interstate.

    Posted by Rusty Surette on Friday, August 24, 2018

  • British Airways Names Designer Ozwald Boateng To Design New

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    OZWALD BOATENG PHOTOGRAPHED BY NEALE HAYNES AT LONDON HEATHROW SEPT 2018

    BRITISH DESIGNER OZWALD BOATENG TO DESIGN NEW UNIFORMS FOR BRITISH AIRWAYS
    Savile Row tailoring expert, Ozwald Boateng OBE, is to be the next in an auspicious line-up of British designers to develop uniforms for the airline.

    Boateng, who is known for bringing a modern contemporary twist to the classic British institution of tailoring, will be designing a collection for the airline’s 32,000 employees who wear a uniform as part of their role.

    The new uniform will form an important part of the airline’s celebrations for its Centenary next year.

    Alex Cruz, British Airways’ Chairman and Chief Executive, said: “Our uniforms have been an iconic symbol of our brand throughout our 100-year history and our partnership with Ozwald will take us forward to the next chapter in our journey.”

    “At a time when we’re investing for customers, new uniforms are a visual representation of investment in our people and we want them to feel proud when they wear the new uniform.”

    Ozwald Boateng OBE, said: “I am really excited about creating this new uniform for British Airways. It is important for me to create something that makes all of British Airways’ 32,000 uniform-wearing employees across the world excited, at the same time as enabling me to really demonstrate my skills as a designer. British Airways is investing £4.5 billion over the next five years and the uniform I design will form part of that, so I’m looking forward to taking a uniform and refining it into a collection.”

    Ozwald started his career in fashion in 1986 and became the first tailor to host a catwalk show at Paris Fashion Week. As well as being the youngest tailor to open a store in Savile Row, Ozwald was the Creative Director at Givenchy Homme from 2002 to 2006.

    Boateng, who launched his first womenswear collection this year, will be working closely with the airline’s employees throughout the development process, from shadowing them to understand their roles and how the uniforms need to perform, to design, testing and final delivery.

    British Airways has worked with a number of famous names throughout its history to design its uniforms. These include Paul Costelloe, Roland Klein, Baccart Weatherall, Hardy Amies and Julien MacDonald, the designer of the airline’s current uniform.

    British Airways’ is investing £4.5 billion pounds for its customers over the next five years, investment includes the installation of the best quality WiFi and power in every seat, fitting 128 long-haul aircraft with new interiors and taking delivery of 72 new aircraft. The airline will also be introducing new Club World seat with direct aisle access next year.

  • 25% of Small Businesses Still Record Finances on Paper

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    25% of Small Businesses Still Record Finances on Paper, Risking Errors and Security Breaches
Companies that lack a dedicated accounting staff and don’t use technology put their finances at risk, according to a new survey.

    Nearly half of small businesses do not have an accountant or bookkeeper to manage finances, according to new data from Clutch. One-quarter of small businesses (25%) track their finances on paper instead of a computer, according to a new survey by Clutch, the leading B2B research, ratings, and reviews company.

    Manual accounting is more time consuming, more prone to human error, and often faces greater damage from physical disasters, such as fires or floods.
    Nearly Half of Small Businesses Lack In-House Accounting Staff

    The survey also reveals that 45% of small businesses don’t have an accountant or bookkeeper.

    “Most small businesses need a combination of a controller, an accounting manager, and a ,” said Rhett Molitor, co-founder of Basis 365 Accounting, a cloud-based accounting service. “Small businesses may not be able to afford that, so we usually see them under-hire.” Experts recommend outsourcing as an affordable solution for small businesses that can’t afford in-house accounting staff.

    Small Businesses Combine HR and Accounting Responsibilities, Risking Legal Trouble

    At nearly three-quarters of small businesses (72%), one person handles both HR and accounting responsibilities. It’s often the accountant who ends up taking on HR tasks, experts said. This situation is problematic given that accountants typically are not trained to handle sensitive HR situations, such as discrimination and harassment. “HR, just like accounting, is a specialized field,” Molitor said. “If you try to wing it, you’re probably going to get burned. In most cases, the law is going to favor the employee.”

    Quickbooks Reigns Among Small Businesses That Use Accounting Software More than half of small businesses (53%) use accounting software to manage their finances. The most popular option is Quickbooks, used by 74% of small businesses.

    Software can ease the complicated task of accounting for small businesses. Donna Conte, service area leader for accounting services at Warren Averett, a full-service accounting and advisory firm, commented on accounting software’s strengths for small businesses: “It’s not expensive. It offers the benefits of information right at your fingertips, plus security and scalability.” Jon Fasoli, director of product management at Intuit, the software company behind Quickbooks, said they built Quickbooks with small businesses in mind. “We built Quickbooks Online from the ground up as an easy-to-use yet powerful platform for small businesses looking to do less back-end manual entry data and instead focus on what matters most – running and growing their business,” Fasoli said.

    Overall, the survey suggests that small businesses should carefully evaluate the resources they need to manage their finances effectively and securely. Clutch surveyed 302 small business owners and managers to learn more about their accounting resources.

  • How to Put Together a Great Team for a Project

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    How to Put Together a Great Team for a Project

    There is nothing better than having the right team for whatever project that you’re working on. A great team helps drive the vehicle. But having the wrong team can drive your vehicle off a cliff or crashing into an 18 wheeler while you are trying to tend to the whiny and needy adult baby people in the backseat. In many of these situations, your intentions were good but you put other people’s needs in front of your project.

    Two things that it took me a really long time to grasp is: it’s never wise to hire people who think that working…. well, it’s not their thing … and they may even say things like ‘You know, I’m not a working kind of persoooooon?’ The economy is not to blame for some people not working, it’s their attitude, lack of drive, motivation and negatively. Sometimes people can’t find work because people don’t want to hire them because of their disposition, attitude, and energy. There are lazy, negative and insecure people from all walks of life but the greater your pool the greater your chances for success. So make sure you looking the best places for the best people and never limit yourself.

    Once you map out exactly what you want to do with your project, then it’s time to take action and hit the road but one thing you must be very cautious of is what you load up the vehicle with before you take off for your destination. You want to carry the least about of weight and nothing that will slow down the ride or cause your project vehicle to break down.

    While it may be inappropriate it certainly would be easier if you could tell the people on your team to “treat me like a white boss.” Sounds harsh but there’s a reason there is a distance created between a boss and employees. Unfortunately, as black entrepreneurs, we often try to be all things to all people, doctor, mother, father, minister, therapist, bank, friend etc which causes an inordinate amount of stress to us and our projects. Once again, putting other people’s needs in front of your own.

    These are some of the things that I’ve learned over the years, sometimes twice and three times, that have really helped me to have a smooth(er) ride. This is for any project that you’re coming up with branding and putting together and the team to get the job done.

    Hire the BEST PEOPLE for the job!

    The only thing that you should be obligated and dedicated to is a great project from start to finish. Don’t worry about the types of people you are going to hire. You cannot save the world with one project you have to do it piece by piece. In statistics, you take a sample of a population to come up with the answers for the entire population. Make sure your population is unlimited so that you have a better chance of getting the greatest possible outcomes. Know that the PROJECT is PARAMOUNT.

    Hire people who know MORE than you.

    A lot of the times we have a tendency to think that we could bring people on board who can think like us but very few people think like you and this is why you are not more successful in the moment… you will take a lot of your time and energy or waste a lot of your time and energy in trying to find people who duplicate you when you should be trying to bring in the elements that compliment your abilities. At best you can hire an assistant to duplicate what you do but trying to hire a team to duplicate you is not only dumb it’s a waste of time and money.

    Higher self-starters

    No hand holding or babysitting but make sure they know to ask questions if they’re not sure about something. In the past, I have made the HUGE mistake of hiring people I thought were self-starters but instead, they will put themselves under stress and make decisions that messed up the entire project without consulting me. They rely on their tenure in my industry, which is usually dated. There are three ways that you could check with the leader of the project when you have questions, email, text, call. You want people who will ask questions and not assume everything especially when they’re not sure about something. however, you certainly don’t have time to babysit and have someone who’s calling you or emailing you and reaching out to you constantly about small things either. This can be very annoying and can interrupt your thought process. Some people need constant supervision and hand-holding and babysitting and that’s not the people you need on your team, you need to give them examples of your last project.

    This is probably the best way that they can see your vision. Unfortunately, I have done this before and sometimes people don’t even look at what you’ve given them and they still assume or make mistakes but then there’s another way that you can resolve the situation if they don’t follow instructions which is the next one.

    Do a test before committing!

    What I mean by this is whatever you’re looking for say, for example, it’s an editor or press release writer. Offer them a small fee for a one-page test to have to you within 24 hours to see what they can do. This will save you a TON of time, money, energy and headaches because once you’re in the project you don’t want this flat tire or those people who SAY they’re qualified to do something and you find out when it’s too late that they’re not. They’re looking for a quick way to pay their electric bill you’re looking to build a brand. You have to realize that you need people that you can call on to do more than just this project with you so they have to be reliable, dependable and qualified. The test will let you know all three.

    Be wary of hiring friends and family

    In all honesty, I think you would find more joy in putting a blindfold on, giggling like a grade school girl and running across an LA freeway at 5:30 in the afternoon just to see if you can beat the traffic and not end up as roadkill.

    Some people will say that this is a good idea but they’re usually not very successful people. Look at all the sports figures and rappers who brought all their family and friends on board for the journey of their success and end up with nothing. The people around you will either lift you up or drown you and if you want to be lifted you have to get out of your comfort zones.

    If you hire friends you probably won’t be friends for long you need somebody that you can give direction to who will actually do the job instead of bringing up the bike you got for Christmas when you were kids and they didn’t get to rid it.

    Hiring friends and family is just not a good idea I’ve done in the past and I would not recommend it. If they need money just give it to them, if you have it, but there are some people who are not working because nobody wants to DEAL with them. Family and friends come to the table with their own expectations as if they are a partner instead of hired help. They decide what they want to do and how they want to do it no matter what kind of instructions you give them. They are stuck in their ways and a lot of the times that slows down, disrupts and delays your project. I’m not sure if I’ve alluded to this yet but um…….. I would strongly suggest NOT hiring friends and colleagues? (I may have said that about 20 times, I’m not sure).

    Naysayers Negative People and Debbie Downers

    One of the things that will bring your project crashing down like a 10.2 earthquake on the Richter scale is negative people. I don’t care what anybody says but negative people suck the air out of a room, out of people and out of a project. They are like Dracula, draining the blood from something until it’s dead. When there is no more blood the negative person gets bored then moves on to the next happy-go-lucky victim to eagerly desecrate.

    It is amazing how that level of energy can destroy a project not just from their end but from your end because it’s taking positive time away from you to build what you’re trying to build but it’s also taking time away from the rest of the team who may need assistance or help or could be building on what they’re doing. Just one negative person can cause the whole project to avalanche. Then they will blame you for not firing them (lol). They have excuses for everything they can’t do and will blame YOU for everything THEY do wrong. Get rid of them NOW … just pay them and send them back into the wilderness of the crypt because the longer you keep them on board the more it’s going to affect your project.

    I have had disasters when I’ve kept people on board who I was simply trying to help but it ended up affecting the entire project and causing a lot more work, stress and money for everyone on the team. Eliminate any and all negative people including the people that you deal with while you working on your project OUTSIDE of the project, you will be amazed at how jealousy can creep up from a few of your so-called friends who see that you are busy. if you have negative people in your family or if you have negative friends block all their calls until your project is complete you can’t afford that energy. You have to be totally focused on getting your project accomplished and eliminate any and everything that is negative.

    Make sure your terms are clear in the beginning

    This is paramount as far as the pay, what you expect and when you will pay. Also when to email you and when to call you. Give this to each person in writing. Will they read it? Maybe but know that when you hire independent people who have not worked in a while there is a good chance that they have financial problems and they think that they can call you and get their money early. You are NOT Bank of America or PayDay Loans but try offering them their money in advance when they ask for it at a discount of 30% off and see how they respond like Payday loans does. They will probably curse you out in another language.

    To be honest, I’ve even had people ask me to take the money to their bank and stand in line and put it in their account because they don’t have Zeele or PayPal. Like a fool, I did it. What is it about black entrepreneurs putting the needs of others in front of our own? There is something very wrong when the owner of a business becomes the assistant to the people he or she HIRES. Just bang your head into the wall to see if you can increase the odds of WAKING UP! Would they ask their boss at a corporation to do this? No, I know that sounds harsh again but it’s true you are not obligated to be anybody’s bank or financial institution they get paid when the job is complete like any other job. MOST important, and I’ve had this happen, once they get the money early then they will no longer be interested in completing the project. Look at it like this, they are going to talk about you any way you look at but they will look real stupid when they tell people “Do you know Kevin refused to pay me until the work was done? What kind of sh is that?”

    Heed the warnings in advance. If someone tells you that they have personal problems or family problems that they are taking care of BEFORE you hire them DON’T HIRE THEM or YOU will now have a problem too. They are letting you know that they’re going to be obligated to whatever that personal situation is and that it’s going to disrupt your project. When someone brings personal problems to an interview they’re going to bring it to the team and the project too.

    Never make the same mistakes again

    If you hire somebody and they don’t work out and you end up getting rid of them I don’t care how desperate you are, do not make the same mistake again because you going to get the exact same thing if not worse, have a backup plan in advance early on test everybody out make sure they bring to the table what you need and then talk to everybody have a conference call as a test to see who is going to be aggressive and who’s going to lay back. You need aggressive people with ideas on your team people who know more than you and know how to ask questions and take charge. You have to ask yourself if you are running a business or a nursery school for adults baby people … then proceed forth.

    These are the lessons that I’ve learned in business but they can certainly apply to anyone who is also working in business or has a project trying to hire a team for social media marketing or whatever it is you’re trying to put together these tips can work for you I wish you the best.

  • Byron Allen’s Entertainment Studios Launches International Theatrical Sales And Distribution Division

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    Byron Allen. Founder/Chairman/CEO, Entertainment Studios.

    Entertainment Studios Motion Pictures (ESMP), the theatrical distribution division of Byron Allen’s global media and technology company Entertainment Studios (www.entertainmentstudios.com), is proud to announce the launch of its new international sales and distribution division:

    Entertainment Studios Motion Pictures International (ESMPI). ESMPI has launched in an alliance with FilmNation Entertainment, which will now handle international distribution of wide-release theatrical titles where ESMP has worldwide rights. ESMP/ESMPI are subsidiaries of Allen Media, which recently announced it has secured $500 million in credit facilities.

    “International feature film distribution is a natural extension of the expanding reach of our global media, content, and technology company,” says Byron Allen, Founder/Chairman/CEO of Entertainment Studios. “As we continue to distribute content across an ever-increasing number of domestic and global broadcast television, network television, theatrical, and digital platforms, it is only natural for us to incorporate worldwide movie distribution into our overall content distribution strategy going forward, and FilmNation Entertainment is the perfect partner for us to achieve this goal.”

    “Entertainment Studios is an exciting, creative, and innovative media company that is committed to delivering high-quality content worldwide,” said FilmNation Entertainment Founder/CEO, Glen Basner. “This global distribution partnership is well-positioned to fill a huge void in the marketplace.”

    The first title ESMP/ESMPI will finance and distribute worldwide is 47 METERS DOWN: THE NEXT CHAPTER, which just started pre-production. The shark thriller sequel will be released domestically on approximately 3,500 screens on June 28, 2019. The first 47 METERS DOWN was a surprise box office hit, grossing over $44.3 million on a $5.5 million budget, making it the highest-grossing independent movie of 2017.

    ESMP bought the title from Dimension Films, which had initially planned to release the movie on DVD only. The original film followed two sisters who get trapped underwater during a diving excursion, where they become the prey of sharks. The survival story starred Mandy Moore and Claire Holt. 47 METERS DOWN: THE NEXT CHAPTER is directed by Johannes Roberts, the filmmaker behind the first movie. Roberts wrote the screenplay with Ernest Riera. 47 METERS DOWN: THE NEXT CHAPTER is being produced by The Fyzz’s James Harris, Mark Lane, and Robert Jones. All three were involved with the initial production.

  • Black Consumer Spending at 1.5 Trillion, Nielsen Examines Digital Habits And Impact Of Black Consumers

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    Nielsen Examines The Digital Habits And Impact Of Black Consumers

    More than half of African Americans were born and raised in the digital age, changing the face of brand engagement, content creation and consumption in the U.S.

    African American consumers are enjoying a remarkable period of influence, cultural expression and black entrepreneurship that is manifesting digitally and trending mainstream, according to global researcher Nielsen. With the highest smartphone ownership and usage of any demographic group and an unyielding desire for self-expression and image control, African Americans are leveraging digital platforms and technology to move from consumers to creators–of platforms, products, content and financial ecosystems.

    Nielsen’s 2018 Diverse Intelligence Series Report “From Consumers to Creators: The Digital Lives of Black Consumers”

    According to “From Consumers to Creators: The Digital Lives of Black Consumers,” the eighth annual report in Nielsen’s Diverse Intelligence Series on African American consumers, Black influence on the economy and pop culture has been intensified by participation in the digital universe and adoption of social media and technology platforms. From video streaming and podcasting to gaming and shopping for food online, African Americans are leaning into digital know-how and open-source innovation—with unprecedented impact on brands, elections and what the country watches, buys and listens to. Black consumers are boldly galvanizing in the digi-sphere to critique, connect, collaborate and create.

    “African Americans are leveraging innovations in technology and social platforms to level the playing field and get ahead in a marketplace unencumbered by corporate barriers to entry,” said Cheryl Grace, Senior Vice President of U.S. Strategic Community Alliances and Consumer Engagement, Nielsen. “African American influence has long resonated cross-culturally, and now it’s being delivered directly from creator to consumer. Give talented, creative people unobstructed access to the world stage and, inevitably, they will shine.”

    African Americans, representing 14% of the U.S. population (47.4 million), are using unfettered access to technology as a means to broaden their reach and express themselves on their own terms. Streaming is a primary source of entertainment for African Americans. They stream videos more frequently on all devices than the total population, especially on phones. Black consumers’ music streaming habits played a key role in R&B/Hip-Hop unseating Rock as the No. 1 music genre in the U.S. in 2017.

    African American shopping habits also are shifting in the digital age. According to the report, that is incredibly important to brands because African American buying power is at $1.3 trillion currently and based on gains in population, income and education, it’s estimated to rise to $1.54 trillion by 2022. More than half (54%) of all African Americans have lived their entire life in the digital age. These tech-savvy Gen X, Millennial and Gen-Z consumers represent a coveted market segment whose interconnectivity is central to their everyday lives—particularly the product purchase cycle. The report urges smart marketers to recognize this shift from consumer to creator and offers insights on building new inroads to this culturally conscious and digitally native consumer segment.

    One digital creator highlighted in the report is actor, activist, and digital gaming co-creator Jesse Williams. He shared, “as a company, Visibility knows that our strengths are also the market’s weaknesses: Black ownership of Black creativity. Technology is an opportunity to make decisions that no longer divorce people from their power. We set out to empower our culture–to lead and learn without fear.”

    The report, launched today at the Congressional Black Caucus 48th Annual Legislative Conference in Washington, D.C., examines how African Americans are leveraging digital to bypass traditional barriers to entry in every arena from finding culturally relevant news, entertainment, products and services to content creation and political engagement.

    Key findings include:

    • 90% of African Americans live in a household that owns a smartphone and have a higher weekly reach for social networking on a smartphone (75%), as well as watching video on a smartphone (66%) and audio streaming on a smartphone (45%).
      19 million (28%) of Twitter’s 67 million users are African American and 9.3 million (or 20% of all African Americans) are on or self-identify using Black Twitter
    • African Americans 18+ are increasingly tuning into podcasts, with 70% growth in engagement from 2014 to 2017 (from 2.12 million to 3.60 million).
    • African Americans make up a significant portion of U.S. gamers. Seventy-three percent (73%) of African Americans 13 and older identify as gamers compared to 66% of the total population.
    • Sixty-one percent of African Americans agree that they enjoy learning about technology or electronics products from others (14% higher than for non-Hispanic whites), and 54% agree they enjoy reading about new technology products (8% higher).
      One of the critical ways African Americans spend time online is food shopping. African Americans over-index against the total U.S. for dollars per buyer spent online in most grocery categories.
    • Meal kits are increasingly becoming an option for busy parents. African Americans over-index against non-Hispanic whites by 21% for agreeing they would consider buying meal kits. Some of African Americans’ most common determinants for buying meal kits are to save time on grocery shopping (40% vs. 29% for non-Hispanic whites), on meal prep and cooking (43% vs. 34%) and on meal planning (42% vs. 33%).

    “The breadth of Black America’s digital footprint has grown exponentially with the rise of smartphone technology and increased access to new mediums for content exchange,” said Kimberly Bryant, founder of Black Girls Code and a Nielsen External Advisory Council member. “The access to technology among Black consumers is a lightning rod for innovation that’s opening doors of opportunity to creativity, black entrepreneurship and financial independence.”

    For more details and insights, download From Consumers to Creators: The Digital Lives of Black Consumers at www.nielsen.com/africanamericans. Join the conversation on Facebook (Nielsen Community) and Twitter (@NielsenKnows) using #NielsenKnows #Consumers2Creators.