CVS, Lowe's Make Big Social Justice Move
CVS Health and Lowes are among the major retailers supporting the launch of a new media brand called the Black Information Network.
BIN says it's the first and only 24/7 national and local all news audio service dedicated to providing an objective, accurate and trusted source of continual news coverage with a Black voice and perspective. BIN says it's focused on service to the Black community and providing an information window for those outside the community to help foster communication, accountability and a deeper understanding.
BIN will not be supported financially by traditional ads; instead it be backed by National Founding Partners such as CVS, Lowe's, GEICO, Bank of America, McDonald’s USA, Sony, 23andMe and Verizon. The founding support of the network by CVS and Lowe's comes at a time when many companies, and retailers specifically, are moving to take a stand on social justice issues amid the George Floyd protests. Recent surveys have shown that most consumers now expect companies to take a stand against racial injustice and other social topics.
“BIN: Black Information Network will fill a void by providing continual news and objective information with full focus on the Black community,” said BIN President Tony Coles. “We began developing our 24/7 Black news source last year, and events of the last few weeks, especially the senseless and tragic death of George Floyd, highlighted the need for this network. Now is the time for our voice to be heard, and I could not be more proud of our work and the team we are assembling at BIN.”
According to BIN, a study of Black listeners found that 86% believe a service like BIN is necessary and are likely to use it as an important news source, and 83% think BIN provides a key service and important information they can’t get on radio or TV today. The study also shows that the BIN concept is equally strong among both the 18-34 year old and 35-54 year old segments of the Black community.
BIN will be distributed nationally through the iHeartRadio app and accessible via mobile, smart speakers, smart TVs and other connected platforms, and on dedicated all-news local AM/FM broadcast radio stations providing local news, weather traffic and sports in addition to national news.
“We are pleased and proud to support the launch of BIN: Black Information Network by contributing resources that will have the greatest impact – our reach, our multiple platforms, our technology infrastructure and our broad, in-depth relationships with consumers,” said Bob Pittman, chairman and CEO of iHeartMedia. “The commitment to service, and the immediate need we saw for a news and information destination for the Black community, accelerated the launch of BIN: Black Information Network to serve this community in an important new way. We are honored to be joined by some of the most important companies in the world that are also committed to this mission.”