A new analysis released by Advertising Age reveals that Latino millennials lead the pack as market trendsetters, pushing the Latino media market’s growth to exceed that of the overall U.S. media spending growth.
The U.S. media market grew by 0.9 percent, while the Latino market grew by an astounding 8.1 percent, with translates to over $8 billion.
Corporations have been quick to react to this upward trend and expanded market opportunity. L’Oreal, AT&T, and other major companies are set to increase their spending by 26-38 percent to focus on Latino marketing.
As the Latino population continues to grow in both size and importance, more and more companies will begin to see the significant value in reaching out to this community.
All of these factors have led to a need for Latino expertise in many organizations. For example, last year Twitter hired Nuria Santamaria as the first multicultural strategist in order to better understand and target Latino and other multicultural users.
The power of Latinos in the media industry is undeniable, and its growth will continue to shape the decisions and priorities of companies across the United States.
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