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The 2% Solution

WPP media agency GroupM is pledging 2% of its annual media spend to Black-owned and other diverse media, and is calling on its clients to do the same. “While GroupM is planning these investments now, the goal is to start these activations in the next 12 to 18 months,” writes Ad Age’s Jeanine Poggi. The agency is also developing an impact fund to support Black content creators and distributors.

The news comes a week after IPG announced a 5% investment in Black-owned media, and two months after Weather Channel and production company owner Byron Allen threatened legal action if agencies and brands didn’t shift at least 2% of spend to Black-owned media.

Guacamole is still extra

Amid a sales boom, fast food chains are hiking wages in an attempt to lure pandemic-shy workers back to service jobs. Chipotle, which is looking to hire 20,000 people, announced its average wage will rise to $15 per hour by the end of June, NBC reports.

If that number looks familiar, it’s because progressives have been clamoring for a $15 minimum wage for years. But Chipotle is lifting its average wage, not its minimum, so some positions will still make as little as $11 an hour. Still, the company is instituting $750 referral bonuses and accelerating its advancement structure so lower-level employees can potentially reach to a restaurateur position in three-and-a-half years. At a salary of around $100,000, it’s the highest-paid level of general manager at the company.

Chipotle is also competing for workers with benefits rarely seen in low-wage service positions, like mental health coverage, 401(k)s and education assistance.

Split decision

Shares of The Trade Desk fell sharply on Monday after the ad tech company announced a 10-1 stock split. Despite beating revenue estimates, “the stock's performance reflects a wider worry among investors over whether publishers will accept The Trade Desk's advertiser identity replacement, as well as low opt-in rates from other identifying methods including Apple's Identifier for Advertisers,” writes Ad Age’s Mike Juang.

Since other third-party identifiers have fallen short of expectations, investors worry the same will befall The Trade Desk’s offering, dubbed Unified ID 2.0, which uses a single login tied to an email address.

As the TV industry looks cautiously to a post-COVID world, how will the 2021 ad haggle reflect the calls for change that have been building for the past year? Join ad sales leaders, marketers and media buyers to discuss the state of the upfront marketplace at Ad Age In-Depth: TV Pivot on May 24 and 25. RSVP at AdAge.com/TVPivot

Take two

Condé Nast announced a new editor-in-chief for Teen Vogue—again. Versha Sharma joins from Group Nine’s NowThis, where she was managing editor. The appointment comes less than two months after the last EIC, Alexi McCammond, resigned before her official start date after old, racist tweets resurfaced.

Though McCammond had apologized previously and did so again, it was a bad look for the publication, which made a name for itself in recent years for sharp political commentary delivered through a progressive, modern lens. Unlike many fashion and beauty titles, it tackled issues of race, class, economics and gender head-on. The search for a new EIC with the right outlook and experience to continue that work has proved difficult for Condé, which has been dealing with its own internal scandals, and enjoys little benefit of the doubt from diehard fans of Teen Vogue.

Just briefly

Oops, all problems: The hackers responsible for shutting down the largest pipeline on the East Coast are sorry. Kind of. Ransomware group DarkSide released a statement that it is “apolitical” and didn’t want to cause “problems for society,” CNBC reports. They were just looking to make money, they say, and will do a better job of vetting targets from now on. DarkSide even has its own ethics code that marks hospitals, schools, nonprofits and government agencies as off-limits. These are some of the most popular targets for other hacking groups, due to the chaos and destruction shutting down essential services can cause (and driving up ransom payments).

All that glitters: NBC won’t air the Golden Globes next year, after recent revelations that the Hollywood Foreign Press Association, which chooses the winners, has no Black members in its ranks, and amid allegations that winners can be bought. While the HFPA has presented an overhaul plan, industry observers say it’s too small and too slow.

You had me at “Hey guys”: The most used greeting on YouTube videos is “Hey guys,” beating out stalwarts like “What’s up” (tops in fitness videos) and “Ladies and gentlemen” (#1 in tech). The male-centered greeting has dominated for a decade and shows no signs of losing steam, easily eclipsing other options in beauty, DIY, cooking and gaming. Whatever happened to “Greetings, and well met”?

That does it for today’s Wake-Up Call. Thanks for reading and we hope you are all staying safe and well. For more industry news and insight, follow us on Twitter: @adage. 

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