"I believe that marketers are capitalizing on the market segments that tend to overdeliver in consumption and contribution to business, and where there isn't a lot of competition for share of voice," said Jessica Pantanini, joint managing director-chief strategy officer of Tapestry, a multicultural media-buying company that is part of Bcom3 Group.
According to Hispanic Business magazine's annual advertising ranking, car makers, package-goods marketers and telecommunications companies led the rush to spend more. In the biggest gains, Procter & Gamble Co., Ford Motor Co., AT&T Corp. and General Motors Corp. all boosted their ad budgets by more than 20%.
"If you get into the Hispanic market before your competition or do more than the competition is doing today, an advertiser can have the type of relationship with the Hispanic market that they could only dream about in the general market," Ms. Pantanini said. "And, they can do it cheaper than they can in the general market because the audience isn't as fragmented."