The State of the Hispanic Digital and Print Media Industries
What has happened since the last Conference? The bad…
- The U.S. economy entered into a deep recession.
According to TNS Media Intelligence the top 50 advertisers in Hispanic media spent 5.6% less during the first half of 2009, compared with the same period of 2008. The statistics does not include advertising rate discounts, so that the decrease probably was much higher.
- Some companies are not here anymore…
Media properties that were particularly hard hit by the recession were heavily dependent on advertising from the automotive and construction/home improvement sector. Unfortunately some of these ventures folded (e.g. Megazines (Sobre Ruedas), Casa y Hogar and Reader’s Digest Selecciones).
The Good…. Actually, there is some very good news!
- Even during this challenging 2009, digital media (advertising) has been growing strongly. The Hispanic online advertising market volume now lies well over $200 million and is the only media category that is growing. The marketplace is getting much more sophisticated. Signs of this increasing sophistication are the increasing use of online video advertising, social networking, text message advertising, the expansion of online ad-networks targeting Hispanics etc…. The major portals Yahoo, Starmedia, Terra and Google (you will see major players from all of them at the conference) continue to heavily invest in their properties as advertisers keep shifting dollars into the digital medium. You will have the opportunity to learn how they are doing this with case studies from Allstate and Comida Kraft (presented by Marla Skiko, SVP, Director of Digital Innovation, SMG Multicultural), HBO Latino (John Santiago, CEO Media 8) and Tortillas Gruma (Steward Severino, Director of Interactive Media at Lopez Negrete).
- General Mills upped its Hispanic media budget 121% to $26.4 million in the first half of 2009. It is particularly fitting that, Rodolfo Rodriguez, Multicultural Marketing Director of General Mills, the architect of this increase, will be holding the keynote speech at Portada’s Third Annual Hispanic Digital and Print Media Conference. Rodriguez is going to explain why a greater focus on digital media/social networking and investing in coupons (FSI’s) as well as custom publications is essential for successful Hispanic marketing.
- Home Depot, a heavy FSI advertiser, was another exception to the general decline in advertising budgets. So were most telecommunications and satellite TV companies (note John De Armas, VP of WorldDirect and Head of DirectTVMás will be a panelist during one of the main sessions of the Conference).
- In May, Macy's chief financial officer noted that the big department-store chain was much better able to project sales than it had been six months previously this had a stabilizing effect on marketing budgets (you will be able to talk about their Hispanic marketing strategy directly with Kristyn Page, Macy’s Multicultural Marketing Director, at our Sept. 24 Conference.)
- Another theme is the integration between media vehicles used in marketing campaigns (almost all campaigns that have been nominated to our Top Digital Advertising Campaign and Top Print Advertising Campaign awards are part of an integrated campaign). At the Advertiser Roundtables, at 3pm, conference attendees will have the opportunity to hear from major clients how cross platform campaigns are implemented and their relationship with point of sales marketing, below the line marketing and public relations initiatives.
- During the 2003-2008 period Hispanic (print) media went through a bubble induced by heavy (irresponsible?) financial leverage. Now more realistic, down to earth projects are emerging. They include the launch of new and innovative products. Some of them have been nominated to the Hispanic Digital and Print Media Innovation Awards (winners to be announced at the Award Luncheon during the Conference). These new ventures include Abasto Magazine and a new custom publication (Cocina al Maximo).
- Last, but definitely not least, community newspapers, a category to which many Hispanic newspapers belong to, continue to be a crucial source of reliable local content and, therefore, continue to be important vehicles for both national and local advertisers.
On the 24th, you will be able to follow up on these issues "in-person” by listening to the presentations and network with participants at this annual gathering which brings together high ranking corporate advertising executives and the top players in the Hispanic digital and print media space. If you haven’t bought your ticket yet, please click here to register.
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