U.S. Spanish-Speaking Marketing Budgets Surge

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NEW YORK (AdAge.com) -- Last year, 20 of the top 25 advertisers to Hispanics increased their ad spending. Only one, Tricon Global Restaurants, cut its budget, as the Hispanic market continued to surge ahead despite the U.S. recession.

By contrast, 53 of the top 100 advertisers in the general market cut ad spending during the first nine months of 2001.

'Isn't a lot of competition'
"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%.

'Do it cheaper'
"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."

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