Channel 4 and Lloyds increase investment in TV advertising initiative for black-owned businesses
For the second year, Channel 4 and Lloyds Bank have partnered to award four black-owned businesses £150,000 of TV advertising each as part of their Black In Business initiative.
Channel 4 and Lloyds Bank have partnered for the second consecutive year to award four black-owned businesses over half a million pounds worth of TV advertising as part of its Black In Business initiative.
Last year, Black In Business attracted over 1,000 applications, with the TV adverts for the five beneficiaries seen by 21.5 million people. The five winning businesses were awarded £100,000 each, totalling £500,000. This year, Channel 4 and Lloyds are boosting the overall investment to £600,000 – with each of the four businesses receiving £150,000 each.
Winners will receive a combination of Channel 4’s TV advertising airtime, the creation of their own TV commercial and Lloyds’ expertise and business advice.
“We are excited to connect four black-owned businesses to the transformative power of TV advertising and, in doing so, help to support their growth journeys,” says Channel 4’s head of sales nations, regions and business development Ewan Douglas.
“Across the two years of this initiative, more than £1m worth of Channel4 TV advertising will have been made available to black-owned businesses.”
Last year’s impact
Last year’s winning businesses were Dalgety Herbal Teas, sustainable trainer brand LØCI, clean eating company The Gym Kitchen, clinically-backed herbal shots business The Turmeric Co, and Treasure Tress, a subscription box business for naturally textured hair types.
According to Channel 4, one in five adults surveyed were able to recall the initiative, and one in three considered buying their products and services.
While the campaign was live from January to April, Dalgety Teas’ sales increased by 25%, subscriptions increased by 50%, and visits to its Amazon shop were up 1,193%. The herbal tea business also saw a 20% increase in interest from wholesale cash and carry outlets that had never been targeted.
“Most of my journey to date has been on the outside looking in. A direct mentorship with people who have experience and data behind them has been great for me,” reflects Dalgety Teas founder Mark Dalgety. “It’s helping me formalise my structure to take the business to a truly global level.”Channel 4 challenges brands to prioritise inclusive design with £1m diversity award
Meanwhile, hair subscription box business Treasure Tress had its biggest subscription month to date in February.
“With the community we serve, it’s so important our voice is amplified, and people will certainly see us on TV. It will also help mainstream haircare brands understand the massive opportunity they’re missing out on,” adds Treasure Tress founder and CEO Jamelia Donaldson.
Last year, the winners were selected by a jury that included Channel 4’s equity and inclusion lead, Maria St Louis, Paul Gordon, managing director, relationship management, business and commercial at Lloyds Bank, and Dino Myers-Lamptey, founder of agency The Barber Shop. Nearly a quarter of the businesses that entered generated more than £100,000 in turnover a year, while 3% made over £1m.Channel 4 study finds ‘noticeable decline’ in brands supporting trans community
Channel 4 launched Black In Business in partnership with Lloyds Bank after research by its commercial arm revealed that 56% of black-owned businesses only receive funding from lenders once they have grown a successful business, compared to just 35% of white business owners.
“Black in Business has proven to be a game changer in the journey towards building a more equitable business landscape. These entrepreneurs are not just growing their businesses – they are inspiring the next generation,” adds Lloyds CEO of business and commercial banking Elyn Corfield.
“With our increased investment and our continued partnership with Channel 4, we are excited to support even more black-owned businesses to reach new heights and make their mark.”
Businesses looking to apply must have generated a minimum revenue turnover of £250,000 in their last financial year, have not invested in TV before and have at least 50% of the founding team identify as black.
