The U.S. Hispanic Advertising Market will grow between 4%-5% in 2012, according to a survey conducted by Portada. Portada interviewed 50 client, agency and media executives.
Expected Growth Rate of Hispanic Advertising in 2012
-10% to 0% 14.29%
0% to 5% 38.1%
5% to 10% 42.86%
Average Growth Rate:4.4%
The expected Hispanic market growth rate isrelatively high, particularly in the light of renewed concerns of a double dip recession in the U.S. which may affect 2012 overall U.S. advertising. The latest Zenith Optimedia forecast shows the overall U.S. advertising market growing by a meager 2.2% in 2012 to US$ 155 billion.
The economy is cited as one of the main risks going forward. “As the recession continues, it will force companies to tighten their purse strings and look for efficiencies in targeting the Hispanic marketplace”, says Lateef Sarnor, Industry Practice Head for the Multicultural category at AOL.. Most survey respondents expect Automotive, Financial (particularly Insurance) to be among the strongest Hispanic advertising categories in 2012.Telecom is expected to continue being a strong category.
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Thanks Ricki for sharing!