Si se puede: Paying attention to the growing Hispanic media market
Yet marketers often choose to curb campaigns focused on Hispanic media because they don’t feature giants like the “Today” show or the ever-popular “Ellen DeGeneres Show.”
That just isn’t true anymore.
Case in point: the recent launch of three major media outlets, all with a Hispanic slant. These provide a plethora of programming through which we can reach audiences with product placements, special reports and expert positioning in this growing market.
Check out what each will offer:
- Univision and Disney are partnering up to launch an English-language news and lifestyle network aimed at Hispanics
- This fall, FOX will launch its Spanish-language network “MundoFox” (TV) targeting Hispanics targeting younger Latinos
- Earlier this month, Hearst launched “Cosmopolitan for Latinas,” targeted at English-speaking Hispanic women with the aim of answering the call of a new generation of Latinas who celebrate both of their cultures, and are seeking content that reflects their unique lifestyles
Also consider a show like “Despierta America,” which continues to draw in high viewership numbers and recently celebrated its 15th anniversary with a typical Hispanic Quinceañera party. I would put that show on every national brand’s hit list.
And let’s not forget the recent re-launch and rebranding of “CNN en Español,” a powerhouse for Hispanic news in the U.S. and the world over. CNN’s Spanish-speaking arm is flexing more muscles than before as one of the most trusted names in Spanish-language television. They are reaching more than 30 million viewers worldwide for its “NotiMujer” show alone!
Furthermore, the audience that Hispanic media reaches can’t be ignored, given their purchasing power and growth potential.
Still not convinced that your campaigns need to factor in this powerful market? Let’s take a deeper look:
This past spring, Nielsen released a study that concluded that the growing U.S. Hispanic population is young, mobile and has skyrocketing spending power, making the segment highly desirable for marketers. The population is at 52 million and is projected to represent the bulk of population growth during the next five years.
FoxNewsLatino.com recently reported that interracial marriages in the U.S. have climbed to 4.8 million — a record 1 in 12 — with Latinos and Asians acting as the driving force behind the trend based on a Pew Research Center study. This means that the next generation of Americans will be partly Hispanic. The article as points out that together with blacks, Hispanics and Asians, the Census Bureau estimates they collectively will represent a majority of the U.S. population by mid-century.
According to Nielsen’s Three Things You Thought You Knew About U.S. Hispanic’s Engagement With Media…And Why You May Have Been Wrong, if U.S. Hispanics were a country, they would rank as the 12th largest economy in the world somewhere between Mexico and Australia, commanding over $1 trillion in purchasing power.
It’s clear that Hispanics are undoubtedly a vital part of the American economy, impacting everything from popular culture to politics and consumerism, according to a story in April’s Miami Herald.
How do you reach the different segments of the booming Hispanic market? Does your product or service have a niche in the younger Latinos? We’d love to hear about your experience in the comments section below.
Posted in: Business Thoughts