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Buying Power report: Blacks spend as economy grows
New 16th edition shows $507 bil in spending



The finding comes from the 16th annual edition of "The Buying Power of Black America" report. In 2009, black households spent an estimated $507 billion in 27 product and services categories. ...

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NABOB wins $1.2 million in advertising from  mortgage companies for member stations

(November 19, 2012) The National Association of Black Owned Broadcasters recently announced it had secured more than a million dollars in advertising as a result of its discussions with the Office of the Comptroller of the Currency, an independent bureau within the United States Department of the Treasury.

The advertising comes out of the Independent Financial Review program which being conducted by the OCC and the nation's largest mortgage companies. The program was created to inform former home owners that the foreclosures on their homes may have been conducted improperly and that they may be entitled to compensation. 

The OCC and the mortgage companies asked NABOB how radio advertising could help them communicate their message about the Independent Foreclosure Review to African Americans across the country, because African Americans were disproportionately affected by foreclosure. 

Jim Winston (pictured), executive director of NABOB, participated in the IFR representing the organization's members and Urban radio stations. He was joined by Spotset Radio Networks, a business development arm of NABOB, in the presentation.

NABOB and Spotset were directed to work with Bank of America on the media planning and media execution across 65 markets. Spotset also worked closely with the Starcom and Tapestry agencies for over a month, and they developed an IFR avail request which went out. The net result is $1.2 million dollars for NABOB radio members and the urban radio community as the 2012 year comes to a close.

"Our presentation was very well-received by the substantial audience present, with particular interest in the NABOB-oriented diverse radio network developed by Spotset to effectively reach the African American audience," said Jim Winston, executive director of the organization. The audience, in addition to government officials, included senior marketing executives from the mortgage companies, including Wells Fargo, CitiBank, JP Morgan Chase and Bank of America.

"NABOB is committed to continuing this push for more ad dollars for its members," said Winston, "and will use its unique relationships with key persons in the Federal government and the advertising community to identify advertising dollars for NABOB members."

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