By Energy Capital and Power
Published February 20, 2024
Integrating diversity, equity and inclusion (DEI) principles into the media and entertainment industry yields greater profitability. Amazon’s 2023 Higher Impact Report reveals that 79% of consumers exhibit a preference for brands whose values resonate with their own, with DEI increasingly prominent among these values. Additionally, nearly half (45%) of consumers are willing to pay a premium for products that embrace and advocate for DEI, while 46% actively seek out brands that demonstrate corporate commitments to DEI.
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In addition to its profitability, diversity and inclusion are essential for shaping perceptions and attitudes. Providing diverse voices with a platform to share their narratives not only promotes unity but also dismantles barriers and nurtures understanding. Representation serves as a catalyst for empathy and connection, bridging cultural divides and fostering a sense of inclusivity that resonates with audiences. Central to this narrative shift is the recognition that inclusion surpasses mere adherence to regulations; it necessitates a continual dedication to amplifying diverse viewpoints. It’s crucial, therefore, not only to integrate previously excluded individuals but also to spearhead discussions and shape narratives proactively.
The media and entertainment sectors are undergoing a transformative shift in their approach to representation. While there has been notable progress in showcasing diversity – with policies implemented at both company and national level to ensure different groups are granted the same opportunity in the industry – society is now calling for a shift towards genuine inclusion. By going beyond mere representation to ensure the integration of voices, media companies stand to expand the mainstream narrative; drive business growth and profitability through shared perspectives; while contributing towards a more inclusive society.
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Global Black Impact Summit (GBIS), held in Dubai on February 27, 2024, shall focus on the role of representation and inclusion in the media and entertainment industries and celebrate the achievements made when inclusive practices are followed.
GBIS, hosted by the Black Impact Foundation and organized by Energy Capital and Power, is an annual event that celebrates the achievements of the Black community, promotes excellence, and explores untapped potential across various fields.
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