Despite a significant slowdown in overall advertising spending in 2008, many top companies still are seizing opportunities to reach the emerging U.S. Hispanic consumer market.
And for good reason.
Although unemployment rates are rising and the economy has weakened, Hispanic spending power in the United States is still expected to top $1 trillion by 2010.
For the first six months of 2008, Spanish-language advertising experienced single-digit growth of 1.5 percent, according to Nielsen Monitor-Plus.
Total ad sales could reach $5.2 billion by the end of the year. That's way down from the double-digit historical growth in Spanish-language advertising spending in recent years.
Still, many advertisers recognize that U.S. Hispanics are a growing, productive population, with money to spend.
As of 2007, there are about 45.5 million Hispanics in the country – or 15.1 percent of the U.S. population, and its largest ethnic minority, according to HispanTelligence, the research arm of Hispanic Business magazine.
The increase in population parallels a surge in household income and wealth-generation.
The average Hispanic household earned $50,575 in 2006, according to HispanTelligence. That's up nearly $20,000, from 1972, outpacing the growth rate of the U.S. as a whole by six percent during that period.
While debate rages over the best way to reach U.S. Hispanics, most top advertisers, from Broadcasting Media Partners and Procter & Gamble to Lexicon Marketing Corp and AT&T, are choosing to spend big dollars to reach consumers in Spanish.
To give you an idea of whom the current players are in this dynamic and ever-shifting industry, here is a list of the Top 50 biggest advertisers in the Hispanic market:
Parent Company /Jul 07- Jun 08 $(000)
BROADCASTING MEDIA PARTNERS INC, 192790.531
PROCTER & GAMBLE CO, 175190.922
LEXICON MARKETING CORP, 146296.438
AT&T INC, 127552.062
GENERAL MOTORS CORP, 110350.867
TOYOTA MOTOR CORP, 108015.836
MCDONALDS CORP, 107282.828
VERIZON COMMUNICATIONS INC, 100233.695
US GOVERNMENT, 90886.141
JOHNSON & JOHNSON, 86577.477
SEARS HOLDINGS CORP, 77234.453
CERBERUS CAPITAL MANAGEMENT LP, 70201.852
FORD MOTOR CO, 68413.148
NISSAN MOTOR CO LTD, 68147.211
WAL-MART STORES INC, 64791.992
STATE FARM MUTUAL AUTOMOBILE INS CO, 57058.055
DIRECTV GROUP INC, 56541.090
DEUTSCHE TELEKOM AG, 55544.105
SPRINT NEXTEL CORP, 55154.590
WALT DISNEY CO, 54653.309
ALLSTATE CORP, 52427.871
YUM! BRANDS INC, 52321.793
JC PENNEY CO INC, 50600.914
VIGNETTE PARENT, 50524.137
NESTLE SA, 44707.656
ANHEUSER-BUSCH COS INC, 42081.707
TARGET CORP, 41461.551
TIME WARNER INC, 41277.238
HONDA MOTOR CO LTD, 41026.910
HOLY LAND CHRISTIAN MISSION, 41014.020
HOME DEPOT INC, 40759.523
CONSOLIDATED CREDIT CNSLNG SVCS INC, 40659.926
FORD MOTOR CO-DA, 40017.316
LOREAL SA, 39546.359
ECHOSTAR COMMUNICATIONS CORP, 37848.078
SABMILLER PLC, 36997.504
KRAFT FOODS INC, 36198.961
LOWES COS INC, 32469.252
GENERAL ELECTRIC CO, 31552.992
MACYS INC, 31162.174
SC JOHNSON & SON INC, 31112.357
NEWS CORP, 30806.127
MOLSON COORS BREWING CO, 30624.412
CLOROX CO, 29873.727
HARBINGER CAPITAL PARTNERS, 29587.672
BLUEHIPPO CAPITAL LLC, 29438.969
WENDYS INTL INC, 29390.508
GENERAL MOTORS CORP-DA, 29301.789
TPG CAPITAL LP, 29036.285
Most Popular Stories
- SEO Traffic Lab Celebrate Wins at Digital Marketing Event 'Internet World 2013' in London
- Social Media Initiatives Should Follow Customers' Lead
- Apple CEO: Offshore Units Not a 'Tax Gimmick'
- U.S. Senate Accuses Apple of Large-scale Tax Avoidance
- UTEP Water Recycling Project Wins Venture Titles
- Marketo Makes a Mint in IPO: Stock Shoots Up More than 50 Percent
- Bieber Booed at Billboard Awards
- Crude Oil Up, Gasoline Down
- Austin Startup Compare Metrics Raises $3.5 Million for Expansion
- Why So Many Top 'Car Guys' Are Actually Women