And as the U.S. Census Bureau revises data from the 2000 census, Hispanic growth is speeding up. According to the Census Bureau, Hispanics represented half of all growth in the U.S. population between July 1, 2003, and July 1, 2004. As the overall population rose by about 1%, the Hispanic market grew at a rate of 3.6%. The latest figures, released by the U.S. Census Bureau in June 2005, put the total U.S. Hispanic population at 41.3 million, and many believe that official count is an understatement.
Second annual edition
Advertising Age's second annual Hispanic Fact Pack offers valuable, hard-to-find data about demographic trends, marketer spending by category and company, Hispanic media and an expanded ranking of the top 50 Hispanic ad agencies. New this year is information about use of the Internet by Hispanics, who are going online faster than the overall population, and about acculturation, as the Hispanic population reaches a tipping point where greater growth from now on will come from U.S.-born Hispanics than from immigration as in the past.
Ad spending is broken down by medium, except for the fast-growing online category, where no reliable figures exist yet. The Internet Advertising Bureau predicts Hispanic online ad revenue could hit $100 million in 2005, but Hispanic digital agencies, while optimistic, put the figure at closer to $60 million, with Univision.com probably taking about half of that total.
The strongest categories for Hispanic advertising, such as automotive and retail advertising, are still experiencing double-digit growth. And others are catching up fast. Financial services, a category that paid little attention to Hispanics except for a few major marketers, is now pouring money into the Latin market. Although from a low base, banks and others spent 74% more to reach Hispanics in 2004.