DALLAS Hispanic television and print advertising spending in 2004 grew 4.7 percent (to $3.8 billion) from 2003, well behind the 10.5 percent rate of overall ad expenditures, according to the Association of Hispanic Advertising Agencies.
AHAA's Hispanic Advertising Agencies Foundation, with data from TNS Media Intelligence and Market Development, commissioned the 2004 Hispanic Media Spend study.
Despite this growth in Hispanic media spending, one-third of the top 250 national advertisers still do not appear among the top 250 Hispanic advertisers, the report said.
"Our new study confirms what AHAA agencies have known for years," said HAAF chair Carl Kravetz. "Hispanic marketing is flourishing. Yet still more than 100 of the top 250 television and print advertisers are allocating less than 1 percent of their total budgets in these media to reaching the influential U.S. Hispanic consumer. Some of America's most iconic brands—like Apple, Maytag and Nike—are missing in action."
In 2004, Hispanic buying power reached $686 billion and is estimated to rise to $992 billion by 2009, representing 9 percent of the total U.S. buying power, according to the study. Over the 17-year period from 1990 to 2007, U.S. Hispanic buying power will escalate at a compound annual rate of 8.7 percent compared to non-Hispanic growth rate of 4.8 percent, the study said.
AHAA, based in McLean, Va., first commissioned analyses of targeted advertising spending levels in 2002. Since its foundation in 1996, the association has developed strategies to foster the relationship between U.S. Hispanic consumers and corporate America.