News

Black-Owned Businesses

Reuters | Equities.com |

General Motors Co will double its commitment to spending with Black-owned media to 4% of its ad budget next year with a target of reaching 8% by 2025, the U.S. automaker said on Friday.

GM has come under criticism, including in full-page ads in several national newspapers, from some Black media leaders for not advertising enough in Black-owned media. GM said it will spend 2% of this year's budget in that sector.


Kimberly Redmond | Equities.com |

Target Corporation (NYSE: TGT) announced Wednesday it will add products from more than 500 Black-owned brands, spend more with Black-owned businesses such as marketing and construction companies and launch a support and mentoring program for Black-owned companies.

The Minneapolis-based big-box retail chain did not specify its current overall spending with Black-owned businesses but said it plans to increase that figure and spend more than $2 billion by 2025.