Hispanic Online Advertising Market Grows Apace
Industry sources interviewed by Portada agree that the Hispanic online advertising market continues to grow at a high rate in 2008.
“The US Hispanic online ad market grew about 35% in 2007. I don’t think it has slowed down much this year,” says Danny Allen, president of AdMixture.
According to Paul Meyer, VP Digital Media at Publicitas states, “The market jumped off to a great start with a 30% growth rate over 2007. The travel sector is leading the charge, with companies such as American Airlines coming out with a Spanish language website and receiving the ROI that they were unable to reach via other mediums. Now that the travel companies have the proven ROI that they are looking for, these budgets have been doubling year-over-year. The thorn in the side of the industry this first quarter would have to be Pharma. The six and seven figure budgets of 2007 advertisers such as Pfizer have been pulled back. These budgets will be rejuvenated later in 2008, but the year got off to a slow start.”
“We know that online is growing so far this year, but do not have any actual percentages as yet. We believe that sectors such as automotive and Telecommunications will be leading the growth. Banking and real estate may lag this year,” says Margot Bradley, partner at online advertising Hola Networks.
Publicitas’ Paul Meyer also points out that online Latin American geotargeted advertising to the U.S. Hispanic market is growing strongly. “The market will grow around 30% to 40% in 2008. The pioneering industries into the Latin American IP market such as Travel and Telecommunications continue to expand their budgets. They have done the math on their past campaigns and the IPs have it. For example, if an airline wants to sell a ticket to someone in the US traveling to Mexico, there is no better way tha.n to IP a US user visiting the El Universal newspaper site in Mexico. Also, with the strong entrance of sectors such as Automotive, this will be another banner year for the newspaper sites.”
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