The top 50 advertisers spent $4.47 billion to showcase their products to the U.S. Hispanic consumer from July 2012 through June 2013, up 12.1 percent from the $3.99 billion during the same time frame a year earlier, according to media monitoring company Nielsen.
Satellite TV provider Dish Network once again led the way, and this year there was little question of the companys being No. 1 on the list unlike last year, when Bancorp Inc. almost beat them out. Dish Network spent a whopping $595.49 million on advertising to the U.S. Hispanic population, up 83.9 percent from last years $323.88 million and more than twice as much as the No. 2 company, Procter & Gamble. Dish Networks DishLATINO subsidiary, created in 1999, is one of the nations largest pay-TV providers, offering Spanish- and English-language programming services aimed at the Hispanic market.
Dish Network has shelled out more than $900 million in advertising to this market since the middle of 2011, according to Nielsen.
Other companies have followed Dish Networks lead. P&G moved up from the No. 4 slot last year by spending $285.48 million on advertising, up 30.7 percent from the previous time period.
Of the top 10 companies on the list, nine increased their spending this period, with finance company Bancorp being the exception.
Spending Spread Across All Industries
Nationwide Mutual Insurance made a giant leap to the No. 3 spot, increasing its ad spend from $80.52 million to $177.89 million, an astonishing 120.9 percent increase. The company was ranked No. 15 on the list last year.
Nationwide wasnt the only insurance company vying for U.S. Hispanic consumer dollars. Both State Farm ($106.67 million) and Allstate ($50.94 million) made the list as well.
Automotive companies also spent a good amount of money reaching out to the Hispanic audience. Toyota led the way, spending $126.55 million, but Ford was close behind with $122.61 million.
General Motors, Nissan, Fiat, Honda and Kia were also in the top 50 this year.
The consumer products category was well represented. Led by P&G, the industry spent more than $680 million advertising its products to the U.S. Hispanic consumer. Placing in the top 10, Loreal spent $108.82 million, up 21.59 percent from the previous period.
Retailers reached out to the tune of more than $307 million, led by Wal-Mart ($70.47 million), Home Depot ($58.87 million) and Sears ($55.07 million).
Future Looks Bright
This is the third straight year that the top 50 advertisers have increased their spend trying to reach the vital Hispanic market in the U.S. The figure is up an impressive 45.1 percent from the same time period just two years ago, when the total spend on this market stood at $3.08 billion.
There is good reason to believe things will continue in a positive direction in 2014, according to Kathy Crosett, research director at Ad-ology.
Analysts expect a much better picture for 2014 in the U.S. with an upward revision from the previously forecast 5.4 percent to 5.9 percent, she wrote on the Ad-ology Marketing Forecast website about next year's U.S. ad forecast. This optimistic outlook is linked to continued economic recovery and midterm political elections.
Growth in U.S. Hispanic media has tended to outperform the overall ad market. Combine that with the ever-increasing U.S. Hispanic consumer market, and things are looking up for ad spending in 2014 and beyond.