Fund for Diverse Brands Seeking Media Exposure Opens
New Roundel Media Fund boosts storytelling for diverse brands
New today, Target is introducing a funding program from its in-house media company, Roundel, to increase exposure of diverse-owned brands through paid media. Designed to offset the cost of marketing programs at Target for Black, Indigenous, and people of color (BIPOC) brands, the Roundel Media Fund will award more than $25 million in media to diverse-owned and founded brands by the end of 2025.
“We’re proud to build on the work we’ve done to invest in the growth of BIPOC-owned businesses, showing up in ways that inspire and add value to the way our guests learn about our products and shop at Target,” said Sarah Travis, president of Roundel, Target. “The impact that the Roundel Media Fund’s $25 million investment can create is powerful. For example, we tested this opportunity during Black History Month and saw a 40% average sales lift for the more than 20 diverse-owned brands that participated.”
Additionally, since pledging to spend 5% of its annual media budget with Black-owned media by the end of 2022, the company has since invested four times more with Black-owned media partners and doubled the amount of partners they are working with since 2020, including notable multiyear deals with REVOLT, ESSENCE and Black Love.
“Ultimately, we strive to be a true partner to BIPOC businesses, and this involves a continued investment to help widen and deepen their capabilities so they can grow and prosper while continuing to connect with the audiences they serve.”
WHO
Target via its in-house media company, Roundel.
WHERE
WHEN
now through the end of 2025
WHY
As part of Target’s commitment to invest in BIPOC brands in its stores.
Read More about FUNDING
