My Code’s CEO says a floor, not a ceiling, has been set by advertisers for multicultural marketing

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While the recent advertising slowdown has also impacted the amount of money allocated to marketing to media companies created for non-white audiences, Parker Morse, CEO and founder of My Code said that it hasn’t stopped marketers from realizing the value in reaching multicultural audiences.

In fact, while the industry standard is 5% of advertiser budgets earmarked for multicultural marketing, that figure has turned into a floor, not a ceiling, over the past few years, he said, adding that the expectation is that 2024 will see a return to growth in this sector.

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