A new social equity private marketplace has emerged.
The Havas Media Group program is made up of BIPOC and LGTBQ+-owned media businesses, and will enable brands to invest funds in underrepresented companies.
It’s part of the agency’s latest commitment to exploring 'meaningful media' and recognising the need for equitable treatment of businesses commonly ignored in the marketing industry.
"In a time where consumer and client sentiment is focused on social action in many forms, we felt it was important to launch a product that allows clients to take positive actions with their media spend as desired, just like a bank can create or manage socially responsible funds," said Havas Media Group global CEO Peter Mears.
"Our role is to advise clients of the opportunity to support these businesses in a system that previously did not make it easy for brands to support minority-owned companies. Today, it’s just as important where a brand shows up as what they have to say."
Mears said the new global offering stems from Havas Media Group’s core strategy to "make a meaningful difference to brands, businesses, and people," and its mission to understand the most "meaningful media"—the media channels, moments, and brands—that really move consumers to action. Media that is trusted, engaging, and influential has the best chance of helping brands reach an engaged audience.
Michelin and Moen are among the first brands to benefit from this at the start of Q3.
"As an agency that is built on delivering the best possible media experience and has invested in and investigated what we call ‘meaningful media,’ we do not believe that all impressions are created equal," Mears continued. "We also see that it is our duty to provide clients with alternative routes to reaching and engaging consumers if media spend is divested from one platform or partner into another. This is just one step we are taking within our own business. We have more work to do as an agency and industry when it comes to diversity and equity."
Andrew Goode, EVP and head of biddable media at Havas Media North America, added: "As an industry partner, we would encourage media businesses to be ‘meaningful’ in every sense—from the brand safety they provide as media partners, through to their corporate behaviors as organizations. We could not be more excited to launch this program first in the US before expanding to our global clients."
The rollout started in the US last week and will continue to international markets later this year.