Close to 150 attendees gathered at The Palms South Beach Hotel in Miami Beach for the Hispanic Magazine Summit organized by MPA. The issues discussed include the following items:
- In a panel called “Who are Hispanic Readers,” Lou Lopez, VP of Diversity Practice at Synovate, presented the first results of a Hispanic Readership Study. A very interesting result of the survey is that only 66% of respondents agree that there is a good variety of Hispanic magazines (versus 92% of general market respondents who think that there is a good variety of general market magazines).800 Hispanic respondents were interviewed. 94% of respondents answered that they read their magazines at home. In terms of the trust they have in the publications they read, the respondents of the survey answered at a level that is comparable or slightly lower than a similar sample of responses of readers of general market magazines.
Answers that ranked high in the survey were “magazine advertising entertains me” and “magazine advertising makes me want to spend money I do not have.” In September, MPA will undertake a roadshow (Miami, Los Angeles, Orange County, Chicago and New York, with the complete results of the survey. The study is sponsored by MPA, NAHP and several magazine publishers (AARP, Editorial Televisa, Latina, Meredith Hispanic Ventures, People en español, Muevelo and Selecciones).
- Joe Zubizarreta, Chief Operating Officer at Zubi Advertising Services, presented a case study about American Airlines' successful Hispanic print advertising program. Zubizarreta said that the campaign offered American Airlines the opportunity “to nail a big idea through print.”
- Participants in a panel about “Editorial Excellence: Raising the Bar” highlighted the value of editorial integrity. They agreed that the most successful Hispanic magazines feature celebrities on their covers.” However, a representative from Meredith highlighted that they have kids on the cover of their Hispanic Parenting Magazines. Cristina Mella, editor of Casa y Hogar, noted that she regularly interviews Latin celebrities in their homes.
- Marcos Baer, publisher or Portada®, announced a new Print Ad-tracking service to be hosted at www.portada-online.com by the end of August. The system will track national advertising in 266 Hispanic Newspapers, 101 Hispanic magazines and Free Standing Inserts in these newspapers in magazines. According to Portada® Ad-tracking national advertising volume in Hispanic newspapers was US $75 million in 2005 and National Advertising in Hispanic magazines lied at US $160 million. Baer highlighted the tremendous growth opportunities that lie ahead for Hispanic print advertising, particularly in categories such as Travel, Pharma, Automotive and Telecommunications.
- In a speech on “Challenges and Opportunities for Hispanic Magazine Publishers” Elena Marroquin, VP of Strategy at Tapestry, stressed that Measurement and Accountability are crucial in order to increase Hispanic magazine advertising. In addition, she said that advertisers should allocate more dollars to test print advertising creative. “TV advertisers spent thousands of dollars to test their advertising, why don't they do that for print?.” Marroquin also spoke about the value of TV-print media partnerships.