Despite increased media usage by U.S. Latinos, Hispanic advertising outlays continue to proportionately lag spending against the general market.
That was the consensus of an advertising panel at the Broadcasting & Cable/Multichannel News Hispanic Television Summit, where executives discussed the opportunities and challenges in reaching the diverse Latino community through different platforms.
Tom Maney, senior vice president of ad sales at Fox Sports en Español, said Hispanic cable television accounts for about 14% of adult 18-to-49 U.S. Latino viewing on a total-day basis, but still only garners about a 6% share of this $1.5 billion ad market.
The officials, speaking on the panel titled “How to Target Advertising to the Diverse Hispanic Audience in a Multiscreen Environment,” concurred that although the sector has attained a much higher profile in recent years, it’s still not getting its fair of ad dollars, and, as such, the education process can’t stop.
“We have to continue to maximize opportunities in the marketplace. We must advocate this market to clients and agencies,” said Charlie Echeverry, senior vice president of ad sales for Univision.com.
While Hispanic ad sales have slowed over the last couple of years, the panelists remained confident the segment would ride out the current economic crisis.
“The economy has not really hurt us,” said CPX Interactive vice president of East Coast brand sales Stephen Shearin. “We’ve seen nothing but growth.”
Added Comcast Spotlight director of multicultural sales Phillip Woodie: “Hispanic media has fared better during these economic scenarios. But education continues to be paramount. We have to keep going back to the client and talking about the opportunities that exist with a market as diverse as this, and get them to plan and buy accordingly.”
All agreed that the most effective campaigns run across various media.
“TV is just one component,” said Gonzalo Del Fa, managing director, MEC Bravo. “To stretch the dollars, to get more efficient buys, we need opportunities across different platforms: online, radio and TV.”