Super producer Tyler Perry shares how the Black community contributed to his success as a filmmaker—proving the power of the Black dollar.
Tyler Perry was grateful as he praised the Black community for supporting his projects and contributing to his growth within his career.
As a result, this allowed him to maintain 100% ownership in productions he created over the years. During his segment at the 2022 Invest Fest, the Billionaire spoke heavily on how often the Black dollar is underestimated.
According to reports, African Americans are the second-largest consumer group.
In 2019, spending by Black households totaled $835 billion.
Perry mentioned that from the beginning of his career when he produced plays, the most significant support he received was from black audiences.
So because he’d been supported by Black communities so well, he never had to receive funding or investors for his projects.
Typically, buyers would bring in a team of investors to fund the purchase in exchange for part-ownership of the project.
Tyler was proud to share that he never had to crowdfund or sell ownership of his high-rating television shows and movies, along with the development of the “Tyler Perry Studio” that currently has stages booked years in advance.
If the Black community is the second-highest consumer group, it could make huge waves if people only supported black-owned businesses for everyday essentials.
Tyler Perry continues to reciprocate the support to the black community.
In 2020, the Hollywood mogul stepped up big-time to help Breonna Taylor’s boyfriend Kenneth Walker fight a lawsuit brought against him by one of the police officers involved in her death.