This week Bank of America announced its new partnership with iHeartMedia to launch the Black Information Network (BIN), the first 24/7 national and local all news audio service dedicated to informing the Black population and spotlighting issues of importance within the community.
The goal of the new network is to provide a voice for Black people to help foster new conversations with a deeper understanding. form. A study by iHeartMedia showed that 86% of Black listeners believe a platform like this is necessary and are likely to use it as an important news source. CVS Health, GEICO, Lowe’s, McDonald’s USA, Sony, 23andMe, and Verizon are also apart of the new partnership for the platform.
“When we can invest in opportunities that genuinely serve communities, like BIN, we are living up to our values and achieving the highest and best use of our resources,” said Meredith Verdone, chief marketing officer of Bank of America in a press statement.
“Keeping informed about events in our rapidly changing world has never been more important, and BIN’s goal of delivering relevant, local news tailored to the needs of Black communities across the U.S. directly aligns with Bank of America’s goals to strengthen and better serve local communities across the country.”
“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.”