GSN hosts $1trillion market cap at first business breakfast
Gay Star News first business breakfast has seen companies worth a total of $1trillion coming together to learn the future of the LGBT market.
The event at Dartmouth House in Mayfair, London gave representatives from major global corporates and brands the chance to discover how GSN has gone from new arrival to market leader in European LGBT media in less than 12 months.
Gay Star News editor Tris Reid-Smith used the latest market data, including figures not yet released to the public, to show how the global lesbian, gay, bisexual and transgender market is rapidly maturing and expanding.
That growth means now is the ‘final call’ for brands who wished to target the LGBT market, he said. They need to get on board or be left behind.
Tris added: ‘Today is not the time for marketing departments to keep doing the same thing with the hope of a different result. With family budgets stretched and corporate diversity now established as the way to grow business, the gay market can make all the difference between your success and failure.’
But despite the data showing the gay market represents trillions of dollars of spend worldwide, we estimate that less than 0.05% of marketing money is spent targeting LGBT people.
Tris also described the last 12 months as the ‘most exciting ever in the history of the lesbian, gay, bisexual and transgender world’.
Massive support for global rights and growth in existing and developing LGBT markets gives brands huge potential.
Tris told those at the breakfast: ‘Companies – including all of yours – are realizing that to engage the power of the LGBT market you need a different approach. One which isn’t tokenistic or exploitative of the so-called “pink pound” but one that is genuine and engaged.’
He predicted that in 2013 and beyond: ‘Increasing liberalization will allow established markets like the UK, US, Europe Canada, Australia to flourish, giving you higher return on investment. And new markets will emerge for you to target – India, China, South America, South East Asia.’
And he thanked the firms for their excitement and enthusiasm in Gay Star News as game changers in LGBT media – having put quality, original content and 24-7 reporting first, and turning our back on the gratuitous sex often associated with gay media.
The business breakfast was held on Wednesday 24th October 2012.