As marketers absorb key Census data -- including 43% growth in the Hispanic population over the past decade to 16.3% of this country's population -- it's increasingly clear that Hispanics are the future of America. And post-recession, the Hispanic market has resumed its usual pattern of growing faster than the general market, with Hispanic media spending up 8.4% to $6.8 billion in 2010, compared to 6.5% for all U.S. media, according to Kantar Media.
Ad Age's Hispanic Fact Pack: Your Guide to the Latino Market
Ad Age 's 60-page 2011 Hispanic Fact Pack, full of rankings and data about the U.S. Hispanic market, is distributed with this week's issue of Ad Age . The digital edition of the Hispanic Fact Pack is available for free online at AdAge.com/whitepapers until Sept. 25, and will be available for $29 after that .
The eighth-annual Hispanic Fact Pack includes data about marketers, 2010 ad spending, demographic trends and rankings of top TV, radio, newspaper, magazine, online media and social-networking sites. Other rankings include the 50 largest Hispanic marketers, the 50 largest Hispanic agencies and the 15 biggest Hispanic media agencies.
After a dismal 2009, 38 of the 50 largest Hispanic marketers hiked their ad spending and 29 of them grew by double digits. The top three -- Procter & Gamble Co., Verizon Communications and AT&T -- increased their 2010 budgets by 23.8%, 18.7% and 29.6%, respectively. The rankings have been reshuffled as automakers, once among the biggest advertisers, are today outspent by wireless, food and insurance companies. Back in 2005, three of the top 10 Hispanic advertisers were automakers, but now only General Motors, down from No. 4 to No. 6, remains in the top 10. And three of the top 10 today -- General Mills, State Farm and DirecTV -- didn't even appear in the ranking of the top 50 largest Hispanic advertisers in our 2005 Hispanic Fact Pack.
As the U.S. ad market recovered, Spanish-language TV bounced back. Network, spot and cable were up 8.6%, 17.4% and 3%, respectively in 2010. Magazines also saw a recovery, with ad spending up 13.3%.
Hispanic newspapers continue to slide, as ad spending fell by a further 5.6% in 2010, after dropping 17.1% in 2009. In an effort to stem the decline, the Newspaper National Network, an ad network for newspapers, is launching the NNN Hispanic Network this week to encourage national advertisers to make local Hispanic newspaper buys. Members include the four biggest Spanish-language newspapers: El Nuevo Herald in Miami, El Diario La Prensa in New York, Hoy in Chicago and La Opinion in Los Angeles.
"As we do for daily newspapers, we'll be a one-stop shop," said Jason E. Klein, president-CEO of Newspaper National Network. "We're a free service, supported by newspapers to encourage the use of newspaper media. Our big advantage is being able to handle multi-market campaigns."
Hispanics have become such important consumers that it's significant that a majority of Spanish-dominant adults -- and a significant number of English-dominant ones -- like Spanish labeling on products and feel more loyalty to companies that respect their culture by advertising in Spanish, according to Experian Simmons. And 57% of Spanish-dominant respondents and 29% of English-dominant Hispanics agreed with the statement, "When I hear a company advertise in Spanish, it makes me feel like they respect my heritage and want my business."