According to a survey done by Portadatm, personal care, drugs/pharmaceuticals, entertainment & media are the Hispanic print media ad categories most likely to grow this year.
The results of the survey show that national magazines targeting Hispanics are favored by media buyers. Metropolitan dailies come in second. These figures also reveal a much higher growth rate in advertising for Spanish print media than for mainstream US print media (newspapers and magazines).
Forty-five percent of the respondents expect personal care advertising to grow by 10% or more, while 60.8% expect it to grow by at least 5%. The results for drugs/pharmaceuticals suggest this category will also have a high growth rate (see boxes on page 8). Seventy-one percent of the respondents expect media & entertainment to grow by 5% or more.
Of the ten categories media buyers were asked to forecast for growth, only three (financial, computer/IT and restaurants) are expected to grow by less than 5%. Over 20% of respondents expect advertising of financial services to decrease over the next twelve months. Nineteen percent expect a decrease in computer/IT, and 23.8% forecasted negative growth in the restaurant category.
The remaining seven categories – automotive, retail, telecommunications, drugs, food & beverage, personal care and entertainment/media – are expected to grow at least 5%.
Twenty five print media buyers, each one belonging to a different agency, were interviewed during the second and third week of August. They were asked to forecast a growth range for specific advertising categories for the next 12 months and to specifiy which print media vehicles – large metropolitan dailies, local Hispanic papers (community papers) or national magazines – they expect to get most of the advertising dollars. They were also asked to specify the type of magazine (women's, business, lifestyle or other) that would get the most advertising spending. The print media buyers made predictions based on their plans for their own accounts and on their knowledge of industry trends.
More than 55% of respondents said that national Hispanic magazines would get most of the advertising dollars. Of these, more than 57% chose women's magazines, particularly women's service publications, as the main subcategory. Lifestyle magazines were the second favorite within the national magazine category, followed by business magazines. Almost 30% of print media buyers interviewed by Portadatm expect large metropolitan newspapers targeting Hispanics (New York, Miami, Los Angeles, Chicago etc…) to get most of the advertising spending, while 14.7% chose local/community papers.
The high scores of magazines and advertising categories such as a personal care may be due to the fact that the majority of print media buyers interviewed work for national advertising accounts. Magazines, because of their national reach, fit well into the strategy of brands to popularize their brands among Hispanics nationwide. Still, local advertising is by far the most important revenue for daily newspapers and is the main source of advertising overall in print media for Spanish-speaking audiences.
The types of accounts managed by the print media buyers surveyed impacted the results. Automobile and personal care brands tend to advertise more in magazines, while telecommunications, food and beverage and financial services are more newspaper oriented.