Diddy isn’t holding back on his criticism of General Motors in an open letter on Revolt.
The 51-year-old musician and entrepreneur shared his letter on the network this week, calling out the car company, saying that they have credited themselves for supporting Black-owned businesses, but their contributions are often minuscule.
“When confronted by the leaders of several Black-owned media companies, General Motors (GM) listed my network, REVOLT, as an example of the Black-owned media it supports,” Diddy began his open letter via People. “While REVOLT does receive advertising revenue from GM, our relationship is not an example of success.”
He went on, adding that “REVOLT, just like other Black-owned media companies, fights for crumbs while GM makes billions of dollars every year from the Black community.”
Click inside to read the rest of Diddy’s letter slamming General Motors…
Diddy continued in his open letter, writing that, “No longer can corporate America manipulate our culture into believing incremental progress is acceptable action.”
“Corporations like General Motors have exploited our culture, undermined our power and excluded Black entrepreneurs from participating in the value created by Black consumers. We demand that corporate America reinvest an equitable percentage of what you take from our community back into our community.”
Diddy also cited Visual Capitalist and the data they reported, saying that “In 2019, brands spent $239 billion on advertising. Less than 1% of that was invested in Black-owned media companies…Out of the roughly $3 billion General Motors spent on advertising, we estimate only $10 million was invested in Black-owned media. Only $10 million out of $3 billion!”
“Like the rest of Corporate America, General Motors is telling us to sit down, shut up and be happy with what we get,” he adds. “We demand that corporate America reinvest an equitable percentage of what you take from our community back into our community. If the Black community represents 15% of your revenue, Black-owned media should receive at least 15% of the advertising spend.”
While closing out his letter, Diddy emphasized, “It’s disrespectful that Black-owned media companies only represent 1% of the total advertising market. It’s disrespectful that distributors refuse to carry Black-owned media brands in an era where our impact and influence is undeniable. It’s disrespectful that the same community that represents [almost] 14% of the population [in the U.S.] and spends over $1.4 trillion annually [in the U.S., according to data obtained by the Catalyst] is still the most economically undervalued and underserved at every level.”
“If you love us, pay us! Not [just] a token investment. Not a charity check or donation…The time is now!” Diddy added to his call to action. “Radical change is the only option. You’re either with us or you are on the other side.”
Last year, this other musician released new music specifically to support black owned businesses in America.