Rapid Response: Finding untapped value in multicultural consumers, w/Blavity CEO and AfroTech founder Morgan DeBaun

Equity

Morgan DeBaun, CEO of Blavity, highlights the financial challenges and inequities faced by Black media companies. Despite Blavity's significant reach, it struggles to compete with larger media entities like Vice and Vox due to systemic disparities in media funding 1. Morgan emphasizes the importance of financial independence and diversification, which has been key to Blavity's resilience in a challenging media landscape 2.

I've never wanted to be dependent on anyone to make our company successful. That's why Afrotech as its own division drives tons of value and profit for the business.

--- Morgan DeBaun

She has strategically developed divisions like Afrotech and Flavity 360 to enhance Blavity's scale and power, helping other Black and multicultural publishers gain more leverage with advertising agencies 1.

   

Influence

Morgan discusses the influence of media on public perception and the strategic shifts needed to navigate systemic challenges. She notes the power media holds in shaping tourism and commerce, yet highlights the industry's struggle to capture its fair share of the value chain 3. Morgan is inspired by companies like Red Ventures that prioritize commerce, and she plans to pivot some of Blavity's brands to a commerce-first model.

If we make a decision on Travel Noire to feature a city or a country for two weeks, we will drive tourism in that country. That is a lot of power.

--- Morgan DeBaun

She envisions Blavity becoming a global media brand, akin to CNN or BBC, by focusing on wealth creation and economic empowerment within the Black community 4.