Magazine publishers launch new Latina-aimed luxury pubs
What: Magazine publishers are addressing the U.S.-based upscale Latinas audience through English-language, luxury and lifestyle publications.
Why is it important: Marketers, advertisers and media companies are growing aware of the second-generation, young, educated bicultural and bilingual U.S.-based Latinas, because they're a fast-growing population segment and they have more earning potential than their less acculturated counterparts, and so there is a clear need for contents that address their expectations and lifestyle in a more focused, multiplatform way.
While women's luxury magazines targeting Latin American readers are quite profitable businesses, the jury is still out on whether this can be replicated for U.S.-based Latinas. Condé Nast, for instance, had a full-fledged unit based in Miami until seven years ago. It produced Spanish-language magazines such as Vogue and Glamour, intended for the U.S. Hispanic and Latin American markets. However, Condé Nast took the decision to move its headquarters to Mexico and so the U.S. Hispanic Spanish-language editions of these magazines are now imported from Mexico.
Hearst Magazines, on the other hand, announced that Cosmo for Latinas will increase its frequency to five times a year and as of this month (October) will be joined by a new Latina-focused supplement, Woman's Day for Latinas.
According to Adweek, "ad spending in Hispanic-interest magazines grew 18 percent in 2011, per Media Economics Group, versus a 3 percent decline in consumer magazines in general. But other than the 500,000-circulation Cosmo Latina, most of those magazines are Spanish-language, creating a wide opening for outlets like Cosmo Latina that give advertisers a way to reach an important audience while staying in the comfort zone of English."
An English-language product needs to be compelling enough to pull in acculturated Hispanics who already consume mainstream media, not to mention the advertisers who are already reaching them through those means.
–Emma Bazilian, media reporter, Adweek
Also, journalist Alisa Valdes has announced the upcoming launch of a new lifestyle, English-language magazine focusing on upscale Hispanic women's interests. Rica ("Rich") is being funded through Valdes' own production company and will be published once a month, online only (for now). She has already enlisted several freelance contributors, including comedian Rick Najera and author Reyna Grande.
Says Adweek's Emma Bazilian that "a recent report from Nielsen called wealthy Hispanics 'the most influential segment since the baby boomers', controlling $4 out of every $10 spent by the demographic, while the U.S. Census Bureau reported that the percentage of Latinas earning over $50,000 has grown more than 200 percent over the past 10 years." Thus, Valdes hopes that focusing on upscale Hispanics will also help attract luxury advertisers to the site.