Pride Communications, Inc. is the parent company of Pride magazine, a local publication that is distributed in Charlotte, North Carolina and the surrounding areas. Pride has become a positive, meaningful and influential icon in the community. For over 16 years, the magazine has highlighted the accomplishments of African Americans and promoted social and cultural awareness throughout the community with regard to men, women, business and health. The stories and editorials are compelling, touching the spirit and soul of the reader. In 2003, Pride introduced its very popular “Living with Pride” edition, featuring the homes, décor and lifestyles of upscale African Americans thriving in our region. In July of 2009, Pride launched a new title called the “Charlotte Multicultural Resource Guide” (CMRG). The CMRG is a unique publication hybrid that is part magazine and part business directory of women and people of color. The editorial focuses on various aspects of diversity within the Charlotte MSA. Due to an overwhelming response we will launch a winter edition of the resource guide in February, 2011. We currently produce 6 exciting issues.
In conjunction with the magazine, Pride Communications produces two signature events to give back to the community on a larger scale. They are the annual Pride Awards and the Sunset Jazz Festival. The Pride Awards is one of Charlotte’s premier black-tie affairs. This gala recognizes the contributions and achievements African Americans make in the community. Each year the awards focus on a different theme such as the arts, education, entrepreneurship and community service. In addition to celebrating the accomplishments of individuals, the Pride Awards recognize and support local organizations whose work is of significance to African Americans by donating funds annually. Close to $200,000 has been donated over the lifetime of this event.
Pride Communications also gives back to the community through an established annual event called the Sunset Jazz Festival. The original purpose is twofold: to give back to the community with free entertainment and to provide a way for businesses and sponsors to mix and mingle with the community outside of their corporate boundaries. Families, friends and neighbors of all walks of life convene for a relaxing and fun-filled weekend of jazz and other entertainment. The Sunset Jazz Festival is an ideal way to bridge and build relationships between corporations (sponsors) and the African-American community. Over the past 16 years, Pride has made an impact on the community that is immeasurable. It is an avenue that taps into the mainstream of black heritage and lifestyles in the city of Charlotte and beyond.
Today’s African American Consumer
As the 21st century begins, African American consumers are a powerful force in both national and local marketplaces. Black middle and upper class consumers are increasingly affluent, educated, and cultured, and our spending habits reflect this growth. Companies that offer products and services regularly consumed by our community will lose vital market share if they fail to speak directly to the African American buyer by way of niche publications such as Pride. The same holds true for producers of luxury items, recreation facilitators, and manufacturers of finer home and living products. For many African Americans in this region, our wealth quotient is finally on par with our style quotient. Fueled by the prosperity of recent years, southern Black households offer smart businesses unprecedented opportunities to sell quality goods and services that satisfy the African American quest for the good life. Differences in our national per capita income and assets, population shifts, political and social ideals, and culture explain variances in spending habits between Black and non-Black consumers. As our share of the nation’s total buying power continues to expand, industries must devote more resources towards developing and marketing products that meet the needs and match the preferences of Black consumers.
Limitless Black Buying Power
The Selig Center projects that African American buying power will increase from $852.8 billion in 2007 to almost $1 trillion in 2010, an increase of 222%. White buying power will increase 164% in that period.
In 2005, North Carolina was listed in the top 10 states with the largest African-American market at $34.3 billion. (Note: NC is not in the top 10 markets for all consumer spending)
From 1990 to 2005, North Carolina was among the top 10 states with the largest share of national black buying power at 14.5 %.
Voracious Magazine Consumption
More than 8 out of 10 African-American/Black adults (85%) read magazines at a significantly higher rate than non-blacks. The African American consumer takes in images from 11.9 issues per month while most US adults only read 9.1 issues monthly.
More Bang for the Buck
The Black population grows more rapidly than the total population. From 1990 to 2010, the nation’s black population will grow by 32.4% compared to 17.6% for the white population and 24.2% for the total population.
African Americans are mostly concentrated in the South (55% of the total U.S. AA population) and the percentage continues to grow. One out of every ten African Americans who lives the South today is a newcomer to the region.
