And, the CEO says, that has to do with the climate of social justice that’s gripping the nation. Specifically, Liggins singled out Proctor & Gamble who he says is committed to spending more ad money to reach the African American community.
Liggins said P&G followed through by spending more money in June and he’s had great conversations with the company about growing that relationship. Liggins says the conversations he’s having around social justice are real and other companies in those discussions include Google, Capital One, Bank of America and Target.
Urban One also expects to see additional revenue come to radio from Pharmaceutical companies due to COVID-19. And, he added, he had a conversation with a “high level pharmaceutical executive,” that told him he expects to see a vaccine for COVID-19 come to market by the end of this year.