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Study of Black Spending Power

            
             This article discusses how the advertising industry has changed. It's focused on more of the black people and the hip-hop culture. It also allows up to see how black people have grown as a unit. The number of black people on television and advertisements in recent years has increased. Companies continue to increase their budget for advertising to black consumers. Blacks have been underrepresented in ads for a long time. In "The Multicultural Economy 2003" magazine, black buying power is estimated to be around $688 billion twice as much as 2001. They predict that this number will rise to $921 billion in 2008. They (the Selig Center) came up with those numbers by estimating the total disposable income of black Americans. There has also been a steady increase in the amount of money black households have available to spend (excluding credit and loans). Blacks have twice as much income in 2002 ($631 billion) than in 1995 ($324 billion). It is good that there are more successful black American getting involved to help the economy. Since African Americans have increased in buying power there is a population growth, increased job opportunities and an increase number of African Americans starting their own businesses. I believe that it is good that black firms grew four times faster than all U.S. firms, according to The Survey of Minority-Owned Business Enterprises. It is good that we are making progress and leaving our mark on today's economy. Hopefully these numbers will continue to increase in the years to come and more and more African Americans will become successful and give back once they have reached the top because that is the only way that the African American culture will continue to grow.
            


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