Advertisers who are looking to strengthen their ties to urban black consumers will certainly rejoice over the recent acquisition of BlackPlanet by Radio One. Radio, the Internet, grassroots outreach and cross platform promotions can render greater ROI and influence over these consumers. According to Shawn Marshall, Vibes Media and a seasoned urban marketing expert this will widen Radio One's reach to nearly 80 percent of the market. Yet, others are surprised at the somewhat low price of $ 38 million dollars, the price of the sale.
Started almost ten year ago by twenty-somethings, this social network was the precursor to current day MySpace, FaceBook. Benjamin Sun and his team brought to the industry a razor-sharp media and community platform that is till today a savvy network to connect with urban youth through BlackPlanet, MiGente, AsianAvenue and other networks from Community Connect Inc.
Omar Wasow, the Executive Director for BlackPlanet before he went to pursue his Ph.D. at Harvard, brought to the brand an uncanny savvy that combined the passion and spontaneity of youth with the the intellectual aura of a "Philosopher Prince. Community Connect's flagship brand was undoubtedly BlackPlanet which Hitwise ranks as the fourth largest social network.
I vividly recall Omar's speeches at conferences in the late nineties predicting that the way we communicate with consumers is changing rapidly and how the consumer will become the creator of the message and of networks rather than just passively consumer messages and media channels. We have all seen this transition occur right under our nose.
But the vision and the enterprise of the folks that gave us BlackPlanet is certainly worth far more than the price tag for the sale and will be far more valuable than a mere cross platform buy to marketers seeking to truly connect with urban youth and communities.
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