Pink Media Group is a Sydney-based business that aims to connect brands with the “pink dollar”. In other words, it specialises in advertising to the gay and lesbian community.
Brands such as Durex, IVFAustralia, HOSTPLUS, Google, Skoda, Interflora and Optus have engaged Pink Media Group to provide campaign strategy, management and reporting.
According to founder and managing director Ben Mulcahy, advertisers are ignoring the pink dollar.
“One in 10 Australians is same sex attracted, so this market is around 2.2 million people with a reported annual disposable income of $20 billion,” Mulcahy says.
Mulcahy talks to StartupSmart about how he’s attempting to hone in on an overlooked group of consumers.
You began working fulltime on Pink Media Group in July 2011. Is this when the business was founded?
Yes, although I have worked in advertising for 15 years and my media partners have been around collectively for over 100 years, so the industry is familiar with us.
What prompted you to launch it – what’s your background? What niche did you identify?
I have sold media in both the UK and Australia for 15 years for some of the largest media owners in both countries.
At the same time, I have been following gay media. Having studied marketing and been within the demographic, I have been aware of the pink dollar and its influence.
For many years, I wondered why the advertisers who were spending millions across other media channels were not targeting the gay and lesbian community
We tend to be SINKS (Single Income, No Kids) & DINKS (Double Income, No Kids) and, as such, have higher than average disposable income. We are a marketer’s dream.
Until now, it has been difficult to reach this community with relevant communications in relevant media.
How did you fund Pink Media Group?
Between 2003 and 2006 I established, managed and then sold a business called Apple Sports Advertising.
This business specialised in advertising to health conscious Australians through poster advertising and product sampling within 550 gyms, sports and aquatic centres nationally.
I was recently accused of a career built on selling my lifestyle – it’s true.
Apple Advertising was successfully sold in 2006 and is still going strong today. This is how Pink Media Group has been funded.