Dream Wired
No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
No Result
View All Result
Dream Wired
No Result
View All Result
Home Celebrity

McKinsey Study Reveals The Drawback Of Hollywood Racism

rmtsa by rmtsa
April 25, 2024
in Celebrity
0
McKinsey Study Reveals The Drawback Of Hollywood Racism
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

Chantel Christie Blasts Takari Lee

Opinion: Jackie Christie And Her Daughter’s Fight Is Troubling — And A Reminder Of Toxic Family Dynamics

Sheryl Lee Ralph & Tiffany Pollard’s Viral Brunch Is Happy Chaos

“Go, woke, go broke,” they said…

Source: PS Photography / Getty

Here’s a simple truth; for the overwhelming majority of the entertainment industry’s history, no racial demographic has ever been more catered to than white people, because white people have always needed to see themselves on the screen. Because of this truth, film and TV studio executives have historically underestimated the profitability of Black-led projects. They have simply never been confident that movies and shows with directors of color and/or predominately POC casts could do the numbers white-led projects do. And it’s for that reason that Hollywood gatekeepers are costing themselves billions in revenue every year due to racial inequality, according to a series of studies—one of which we reported on in 2021—published by the consulting firm McKinsey & Company.

The Hollywood Reporter reports that McKinsey & Company once again totaled up the potential financial revenue that Hollywood could stand to gain if it adopted more culturally inclusive business solutions.

McKinsey reports that Hollywood could earn $10 billion per year by closing the Black inequity gap, $12 billion to $18 billion from properly valuing Latino professionals and consumers, and $2 billion to $4.4 billion from better getting into the Asian and Pacific Islander market.

That number adds up to $30 billion a year.

The latter figure is calculated based on U.S. Bureau of Labor Statistics data that Asian Americans earn on average 30 percent more than non-Asian Americans but spend 35 percent less on media. Meanwhile, McKinsey’s own survey of API consumers found that nearly half would spend more money (49 percent) and time (47 percent) on film and television with more authentic representation. Put plainly; Asian Americans have a lot of money, and they would spend more of it on media if it better reflected them.

Do y’all remember when movies and shows like Everything Everywhere All at Once, Parasite, Beef and Squid Game were sweeping awards shows and the racist and caucasity-infused “Go woke, go broke” collective was whining about “wokeness” infiltrating the Academy because they just couldn’t conceive of the possibility that non-white creatives were more deserving of the recognition? Well, Hollywood is now suffering financially from that same attitude, and maybe it’s time these executives understand for their own good that whiteness is not a prerequisite for popularity, let alone artistic quality.

I mean, we’re talking about up to $30 billion annually. That’s what it’s costing Hollywood to be racist AF. Is it really worth it?



Source link

Tags: DrawbackHollywoodMcKinseyRacismrevealsstudy
Share30Tweet19
rmtsa

rmtsa

Recommended For You

Chantel Christie Blasts Takari Lee

by rmtsa
July 25, 2025
0
Chantel Christie Blasts Takari Lee

A new feud is unfolding within an already messy mother-daughter dynamic on Basketball Wives. After Chantel Christie publicly called out her “toxic” mother, Jackie Christie, she found herself...

Read more

Opinion: Jackie Christie And Her Daughter’s Fight Is Troubling — And A Reminder Of Toxic Family Dynamics

by rmtsa
July 25, 2025
0
Opinion: Jackie Christie And Her Daughter’s Fight Is Troubling — And A Reminder Of Toxic Family Dynamics

Getty Let me preface this article by stating that I don’t condone violence of any kind, mainly when it occurs between family members; however, I also don’t believe...

Read more

Sheryl Lee Ralph & Tiffany Pollard’s Viral Brunch Is Happy Chaos

by rmtsa
July 24, 2025
0
Sheryl Lee Ralph & Tiffany Pollard’s Viral Brunch Is Happy Chaos

Source: Gilbert Carrasquillo / Getty Social media can’t stop laughing after an old clip from VH1’s Brunch With Tiffany resurfaced, featuring none other than the legendary Sheryl Lee Ralph sitting down with reality...

Read more

Candace Owens Sued By French President For Defamation

by rmtsa
July 24, 2025
0
Candace Owens Sued By French President For Defamation

S’il vous plaît, sunken sis! Here’s a question that I’m sure has already been asked millions of times, but is worth asking again: WTF is wrong with Candace...

Read more

What Make Manifest Means To Bed-Stuy’s Fashion Community – Essence

by rmtsa
July 23, 2025
0
What Make Manifest Means To Bed-Stuy’s Fashion Community – Essence

Assane Sy It’s a balmy summer afternoon when I enter Make Manifest, a boutique and vegan café on Tompkins Avenue in Bedford-Stuyvesant. The space, which is also a...

Read more
Next Post
The Exchange New Article Series Features Black Business Leaders

The Exchange New Article Series Features Black Business Leaders

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized

CATEGORIES

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized
No Result
View All Result

Recent News

  • Bryan Kohberger Butchered Kaylee Goncalves for Messing Up His Plan, Expert Says
  • Lizzo Declares It’s ‘Back Fat Summer’ As She Proudly Flaunts Her Weight Loss
  • Slipknot Officially Announce Different Box Set

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In