“THE GREENWOOD AVE INITIATIVE” commemorates the affluent Black business district in Tulsa that was attacked and destroyed by whites in 1921, resulting in over 300 deaths, millions of dollars in damage and an immeasurable loss of generational wealth. GREENWOOD AVE is an initiative of SOW.
African-American-owned businesses today experience longer paths to establishment and shorter lifespans due to a lack of capital — which is directly tied to systemic racism in banking and equity financing.
Advertising is vital to a business, constituting up to 10% of its costs. It is the primary means by which businesses drive revenue, establish their brand in the marketplace and create a shorter path to profitability.
By partnering with GREENWOOD AVE, partners will invest 10% of their advertising inventory to be used by worthy African-American owned businesses — thereby translating their stated commitment to racial justice into a tangible and meaningful investment that will invert the narrative of failure in black businesses.
The Greenwood Ave Initiative Will:
- Acquire $38 million worth of ad inventory from media partners across internet, print, television, radio and streaming platforms.
- Invite African-American owned businesses nationwide to partner with GREENWOOD AVE.
- Review, screen and select the partner businesses based upon a rubric of quantifiable and intangible measures to identify businesses that can most benefit from an increased advertising reach.
- Provide support, guidance and education to equip the businesses on how to most effectively use their advertising investments.
- Ensure the processing, trafficking, implementation of advertising and report on the quantifiable and intangible impacts and benefits.