Business Media: Hispanic Target to Expand into other Cities in 2008
Hispanic Target (circ. 15,000, monthly, Spanish) is planning to expand to Washington, Chicago and New York in 2007. “During 2007 we want to first reach profitability in the South Florida market and then export our model into these other markets,” publisher Eduardo Hapke tells Portada. Hispanic Target got financing at the end of last year, allowing it to change from bimonthly to a monthly publishing schedule. Former Tiempo Latino (Washington) owner, Armando Chapelli, bought a 51% stake in the company in late 2006. Earlier this year Hispanic Target launched an Orlando edition; t currently distributes 5,000 copies there. The only difference with the South Florida edition is that it uses a different cover.
Hispanic Target is mostly distributed at Hispanic Chambers of Commerce (as well as Latin American Chambers of Commerce in Florida). The publication is also distributed in hotels, building lobbies and sold at bookstores (through a partnership with Spanish Periodicals).
Hapke bets that national advertisers, and local and regional advertisers, will be enticed by the relatively low cost of a full page ad in the publication--$ 1,500-- compared to the cost in other national Hispanic business publications, which can reach the several thousands.
The 2008 expansion plan calls for editions with a circulation of between 15,000 and 20,0000 in Washington, New York and Chicago. Spanish-language local business news is the main content focus of Hispanic Target. Hapke notes that the publication will increase automotive and life style coverage in order to increase advertising in these categories.
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