4. the right product, the wrong market
Comics have never successfully penetrated the African American market, so the numbers don't encourage the major companies to pursue what is, statistically, a dead end. I see that as more economics than racism. There's just not a viable enough audience to sustain black-themed comic books, and that is the watery grave that awaits all "black" books until the major companies finally learn how to market to audiences outside of their traditional comic shops.
Sean "P Diddy" Combs is about as untalented as they come, and he makes millions if not billions per year. There's SO MUCH MONEY out there in the minority community, but to go after it, Marvel and DC and everybody else is really going to have to reinvent themselves, change the way they do business and operate way, way outside of their traditional orbit. It would help if they'd actually hire some minorities and consultants on distribution channels for minority-focused products.
Until they make a real effort with this, "black" books, "minority" books and female books (other than the gross T&A variety) are doomed out of the gate.
Comics, as we know them, have, for 65 years, been produced by middle class whites for middle class whites. There's greater potential sales in the Latino community alone than in the entirety of our known distribution channels combined. One real Latino hit would, potentially, outsell everything on the racks if it were *good,* if it didn't insult the intelligence of the community it proposes to entertain, and if the companies could figure out how to get that book into the distribution channels that service that community.