Reaching LGBTQ+ Consumers Is Important All Year Round – And Here’s How To Do It
In their hesitancy, however, advertisers are missing out on a rapidly growing source of consumer demand and market share.
LGBTQ+ people have roughly $3.9 billion in global purchasing power, according to Bloomberg – and that number is only growing as more people self-identify with the label. The proportion of US adults that identify as LGBTQ+ has doubled in the last 12 years, and nearly 30% of Gen Z in the country now consider themselves part of the community.
As a population, “we’re getting bigger,” said Damian Pelliccione, co-founder and CEO of Revry, an LGBTQ+-focused streaming platform.
“[We are] an addressable market that advertisers need to understand and address through their marketing and advertising efforts if they want to be around in the next 10 to 30 years,” they said.