About ESSENCE Ventures
Essence Communications, Inc. (ECI) is out to capture the essence of African-American culture through publishing, fashion, and entertainment. The company publishes ESSENCE, a magazine geared toward African-American women, which has a monthly circulation of more than 1 million and a readership of 8.5 million. ECI also publishes books and online content (Essence.com), and has licensing operations. In addition, the company hosts the Essence Music Festival, which is held every Fourth of July weekend, and has featured superstars such as Prince, Beyoncé, Mary J. Blige, and Lionel Richie. The first issue of ESSENCE hit the newsstands in 1970. ECI is a subsidiary of Time Inc.