CHICAGO, Sept. 21 (UPI) -- Black Americans' buying power is growing but advertisers are missing out on an opportunity to target black-oriented media, a Nielsen report said.
The report, released Thursday, said black Americans watch 37 percent more television than any other group and have a buying power projected to reach $1.3 trillion in consumer spending in 2017.
"African-American consumption patterns are, in some areas, higher than the total market," said Nielsen Senior Vice President Cheryl Pearson-McNeil. "Advertisers are not advertising in sync with the consumption patterns and behaviors and habits of the African-American consumer.
"Because there are no language barriers, the assumption is I can reach African-Americans with the same ads that I can reach the general market. In reality, there are a lot of cultural nuances that resonate more with blacks ... that could actually drive up market share if you incorporated them into your marketing strategy."
Ebony, a magazine geared toward black Americans, had a total average circulation of 1.29 million as of June and brought in $48 million in advertising revenues in 2012, the Chicago Tribune reported Saturday.
Vanity Fair, a comparable magazine aimed at a general market, has a total average circulation of 1.21 million and brought in more than $268 million in advertising revenue, the Alliance for Audited Media said.