Kargo Expands Amplifier Program with 3 Minority-Owned Publishers

Article Brief:

Kargo has expanded its Multicultural Content Amplifier (MCA) program by incorporating three new publishing platforms — Gold House, equalpride, and PinkNews. This initiative aims to facilitate the connection between multicultural-owned media outlets and international advertisers, as stated in a press release.

Discover Financial Services, a key participant in the MCA initiative, has committed to making significant investments to bolster content platforms. This commitment is particularly noteworthy in light of recent research indicating that minority-owned media publishers continue to face challenges in fully benefiting from the industry's promises to increase spending with these outlets following the events of May 2020.

Article Insight:

Despite the self-reflection prompted by George Floyd’s murder three years ago, the advertising industry has failed to fulfill its commitments to supporting diversity, equity, and inclusion in its supply chains, especially in relation to minority-owned media properties.

According to the Association of National Advertisers (ANA), a survey conducted in April of this year revealed that over half of marketing executives expressed interest in supporting diverse suppliers. However, less than 40% of those suppliers reported receiving increased investment from the marketing or advertising communities. The ANA's Alliance for Inclusive and Multicultural Marketing estimated that only 1.85% of ad spending was being allocated to diverse-owned media outlets, falling significantly short of the group's recommendation of 6.5% by 2025.

One major obstacle for minority-owned media companies in attracting advertisers may be the lack of infrastructure to engage with brands on a large scale. This issue is being addressed by Kargo's Multicultural Content Amplifier, which was launched earlier this year. The program assists publishers in expanding their content supply and enhancing their programmatic advertising capabilities, enabling them to connect with advertisers and grow their businesses. Additionally, the program offers editorial workshops and engineering support for publishers.

Kargo’s MCA program aims to provide publishers with regular and compelling content that will resonate with both consumers and advertisers. The company has already hired 30 writers and plans to add 100 more in 2024 to support its publisher partners. Kargo’s team of writers has already produced 1,500 articles in collaboration with publishers.

Mark Isom, the vice president and publisher of equalpride, emphasized the importance of joining Kargo's Multicultural Content Amplifier program, describing it as an opportunity to not only expand reach but also to champion multicultural voices and provide them with the resources they need to thrive. He expressed gratitude for the partnership with Kargo and the opportunity to work together in creating a more innovative and inclusive environment for both publishers and global brand advertisers.