Jack Myers: “Hispanic Advertising to Grow
Between 10 and 20% More than General Market”
Media Economist and Investment Advisor Jack Myers expects advertising
and marketing targeting Hispanics to grow between 10% and 20% more than
in the general market. Myers said this during a function held last week
by Terra in New York City. He also expects Hispanic budgets to become
more integrated with general market budgets.
Myers highlighted that the emotional connection of Hispanics to editorial content and advertising is, on average, 20% higher than that of general market consumers.
Myers noted that the overall U.S. advertising market amounts to $200 billion, but that, as a whole, marketing expenditures (advertising and promotions, direct mail, Custom publishing etc...) lie at around $700 billion.
For the general online advertising market Myers expects important growth in Video Advertising (+38%).
language advertising expenditures are forecast to decline 11.2 percent
in 2009 and will rebound slightly with 2.3 percent growth in 2010 according
to a new report prepared by Jack Myers Media Business Report. Network television
accounts for nearly 50 percent of all Spanish language advertising and,
along with online media, it has been the least impacted by the negative
trends impacting the advertising industry.
As Harvard Business School professor John A. Quelch noted recently, "It is well documented that brands that increase advertising during a recession, when competitors are cutting back, can improve market share, and return on investment at lower cost than during good economic times."