Keeping It Local: Supporting BIPOC- and Minority-owned Businesses
While COVID-19 has undoubtedly impacted small businesses across the board, minority-owned small businesses — particularly those that are BIPOC-owned (Black, Indigenous, and People of Color) — were among the hardest hit financially and politically.
According to research from McKinsey, minority-owned small businesses reported that obtaining credit was becoming increasingly difficult, and over half noted concerns about the financial viability of their business.
Though times are difficult, the new spotlight placed on the inequalities faced by minority-owned businesses has brought about a renewed sense of solidarity amongst people who want to support such entrepreneurs — including Hulu viewers.
Around a quarter of Hulu viewers have shopped more often at Black- or minority-owned businesses in the last 6 months.
In the words of Hulu viewers:
Raising Brand Awareness with Streaming Ads
More than ever, small businesses are trying to maintain their customer base while growing awareness for their brand. While advertising in general is a powerful way to raise awareness and encourage action, advertising on streaming platforms lets businesses display their message next to premium content and get in front of hyper-engaged audiences — often on the largest screen in the house.
In this highly digital, post-pandemic world, small businesses should adapt their awareness and acquisition strategies to meet consumers where they already are — and streaming is a good place to start. Connected TV (CTV) device usage surpassed 7 billion hours in 2021, more than doubling over 3 years, and steady growth over the past few years indicate that this isn’t just a fleeting trend.
While advertising on TV may have been a pipe dream for small businesses in the past, Hulu now offers a self-service advertising solution that enables businesses to quickly and easily get their messages in front of viewers — viewers who have already expressed a desire to continue supporting small business, particularly those that are minority- and BIPOC-owned.
Learn More about Hulu’s Self-Service Advertising Solution
If you’re looking to advertise to an audience of millions, Hulu’s new self-service advertising solution, Hulu Ad Manager, is your answer. Hulu Ad Manager provides a unique opportunity to connect with and capture the attention of Hulu’s 110 million ad-supported viewers, 47% of whom are cord-cutters or cord-nevers who can’t be reached on linear TV. Sign up to learn more.
Ready to start streaming your ads?
Source: McKinsey&Company, “COVID-19’s effect on minority-owned small businesses in the United States,” May 2020
Source: Hulu Huddle, Small/Local/BIPOC Businesses, July 2021
Source: comScore OTT Intelligence Report, January of 2017, 2018, 2019, 2020 and 2021