In the 1970s, Essence Magazine emerged as a trailblazer, addressing a gap in mainstream media by representing and empowering Black women.

Essence's enduring purpose resonates within the broader framework of Black media, making it a crucial and influential voice in an ever-changing industry. However, it too has dealt with difficulties.

How Essence Magazine got started:

Essence was founded in May 1970 by Edward Lewis, Clarence O. Smith, Cecil Hollingsworth, and Jonathan Blount.

Its creation was timely, coinciding with the rise of the Black female empowerment movement. During the 1960s and 1970s, many Black women felt marginalized within both the Civil Rights Movement, often seen as male-dominated, and the feminist movement, largely led by white women.

Essence capitalized on this unique moment, providing a platform specifically for Black women to express their voices and share their experiences.

Becoming a Household Name:

Throughout the 1970s and 1980s, Essence solidified its status as a household name among Black women. The magazine offered comprehensive coverage across a broad spectrum of topics, including fashion, beauty, relationships, and social issues. Essence’s ability to address these subjects through the lens of the Black female experience set it apart from other publications.

Essence was more than just a publication; it was a movement that empowered its readers and provided them with content that was both inspirational and relevant. The magazine's impact was further solidified in 1995 with the launch of the Essence Music Festival, which has since evolved into one of the largest and most celebrated Black cultural events in the United States.

Ownership Changes:

In the 2000s, Essence Magazine underwent ownership changes that marked the end of its era as a Black-owned media company.

In 2000, Essence Communications Inc., the parent company of Essence Magazine, sold a 49 percent stake to Time Inc., a subsidiary of Time Warner. The move signaled a major shift in the magazine's ownership structure, reducing its status as a majority Black-owned entity.

The remaining 51 percent of Essence Communications was sold to Time Inc. by 2005, making Essence a fully-owned subsidiary of the media giant.

On Jan. 3, 2018, Essence saw its return to being Black-owned when it was sold by Time Inc. to Essence Ventures LLC., an independent venture created and led by Richelieu Dennis, the founder of Sundial Brands, according to The Wall Street Journal.

The sale occurred just before Time Inc. was acquired by Meredith Corp. in a $2.8 billion deal.

Where does it stand:

Essence Magazine faces fierce competition in the modern digital landscape from platforms like Ebony.com, Blavity.com, BlackEnterprise.com, TheRoot.com, and TheGrio.com. Each of these competitors is vying for a share of the media market aimed at Black women.

Despite its longstanding legacy, Essence’s online presence often feels traditional compared to the dynamic, fast-paced content offered by newer platforms such as Blavity, TheRoot, and TheGrio, which excel in delivering quick, engaging commentary on current events and cultural trends.

As of 2017, Essence maintained a total circulation of 1,055,117 in print, according to Audit of Burea of Cirulation.

While its web traffic isn't as lucrative as its print advertisements, it still holds significant social capital and continues to bea trusted source for its audience.

However, digital media is increasingly dominated by agile, trend-sensitive competitors who resonate well with the younger, tech-savvy demographic.

Essence Fest, now known as the ESSENCE Festival of Culture, continues to be a trendsetter and an effective cultural powerhouse within the Black community, according to NOLA. The annual event, which since 2019, averages half a million attendees, according to Billboard, has become a vibrant showcase of Black music, art, and entrepreneurship, drawing tens of thousands of attendees each year to celebrate and connect with Black culture.

In the lead-up to the 2024 election, which many are calling one of the most pivotal in U.S. history, the festival also serves as a crucial platform for political engagement. Vice President Kamala Harris took the stage at the ESSENCE Festival of Culture to rally attendees and emphasize the importance of voting in the upcoming election. She highlighted the stakes and urged support against the GOP nominee and former President Donald Trump.

The ESSENCE Festival of Culture has thus evolved beyond a cultural celebration into a significant arena for social and political advocacy, reinforcing its status as a cornerstone of influence and empowerment within the Black community even as it lags digitally.

The company has recently acquired Refinery 29, indicating some level of financial capacity for expansion, The New York Post reported.