A recent report from McKinsey says that the demand for movies and shows with diverse casts exceeds the current supply, and that Hollywood could grow the entertainment industry by billions if it is able to meet it, said Fast Company.

Data shows that the demand for movies and shows in which at least 40 percent of the cast comes from a traditionally maginalized community has more than doubled over the last three years; in contrast, the supply of these movies has grown by just half. McKinsey believes that closing this gap could lead to $10 billion in additional revenues on top of the $148 billion baseline, a roughly 7 percent increase.

The report noted that a kind of feedback effect has kept such stories in the minority compared to those made by and featuring just white people; executives are convinced that media outside this norm don't make money, so they don't give those projects as much funding, which makes it more difficult for the project to be successful, which means it is less likely to generate money, which only serves to confirm the executives' original doubts. The report also said that those who get involved in the entertainment industry tend to make very little starting out, which is why people with more advantaged backgrounds with other sources of support tend to stay while those who need to eat something other than ramen five days a week tend to leave.

Addressing these issues, said the report, is not only the right thing to do, but the financially smart thing as well.