Diddy's letter to corporate America: If you love us, pay us
Diddy wrote an open letter to highlight the low advertising revenue his network REVOLT gets from General Motors and how it reflects an inequity for Black-owned media companies. "In 2019, brands spent $239 billion on advertising. Less than 1% of that was invested in Black-owned media companies. Out of the roughly $3 billion General Motors spent on advertising, we estimate only $10 million was invested in Black-owned media... It’s disrespectful that the same community that represents 14% of the population and spends over $1.4 trillion annually is still the most economically undervalued and underserved at every level... Corporations like General Motors have exploited our culture, undermined our power, and excluded Black entrepreneurs from participating in the value created by Black consumers... We demand that Corporate America reinvest an equitable percentage of what you take from our community back into our community". His letter has gotten mixed reviews.