- Espolòn Tequila is the launch partner of a new private marketplace (PMP) that WPP agency Mindshare developed to support LatinX and Hispanic media, according to a news release. It is the third product out of Mindshare's Inclusion PMP initiative targeted at underrepresented communities.
- The LatinX PMP debuts with 20 publishers across the U.S., including La Opinión and El Diario owner Impremedia. It encompasses English and Spanish-language content representing an array of countries and cultures. Espolòn Tequila, which is marketed by Campari Group, is tying the deal to its larger "Join the Revolution" campaign themed around innovators who break the status quo.
- Mindshare is pushing the LatinX PMP to reach an audience that has climbing purchasing power but receives just 6% of the ad industry's spending, per figures from the Hispanic Marketing Council. The move is the latest sign that diversity, equity and inclusion (DEI) is playing a larger role in media agency strategy as the industry looks to rectify longstanding inequalities and engage new consumer groups.
Mindshare continues to build out its Inclusion PMP project with an offering aimed at Hispanic and LatinX communities that now make up about one-fifth of the nation's population, per U.S. Census Bureau figures. Despite growing prominence and purchasing power, those groups remain underserved in advertising, putting the onus on agencies and brands to close the gap or otherwise miss out on cultural relevance and a massive business opportunity.
PMPs are one way to court clients looking for a more curated experience and inventory when advertising on Hispanic and LatinX media where they may not have much familiarity. The PMP format is invitation-only and can provide better guarantees around ad fraud and brand safety compared with open programmatic exchanges where there's historically less control.
EMarketer claims advertisers spent more on PMPs than open exchanges for the first time in 2020 amid ongoing frustrations with digital ad quality and the former category's promising applications around first-party data and premium audience insights. Spending on PMPs is forecast by the researcher to exceed $14 billion this year.
Mindshare introduced Inclusion PMP 18 months ago and has previously created platforms catered to LGBTQ and Black audiences. Campari Group brand Skyy Vodka was a launch partner on the LGBTQ PMP.
Programs bolstering diverse media from Mindshare are part of the shop's Good Growth pledge centered on sustainable media investments and align with parent GroupM's Responsible Investment Framework. In May, GroupM kick-started a Media Inclusion Initiative that is part of its 2+% Pledge spurring clients to commit a portion of their annual budgets to Black-owned media outlets.
DEI pushes from brands and agencies have proliferated following an intense reckoning with race last year. Marketers that fail to recognize diverse consumer groups are coming under greater public pressure. Byron Allen's Allen Media Group sued McDonald's in May for $10 billion in damages, alleging a pattern of racial discrimination and refusals to contract from the fast food chain.