We’ve been writing about it for a while, and now, it looks like the stage is finally set for a battle royal between all of the major players seeking to take the biggest bite out of the reported $1 trillion US Hispanic market. There’s ABC and Univision, Telemundo, Comcast, MundoFox, and even Sofia Vergara, the highest paid television actress at the moment, and they’re all featured in Forbes latest issue – ‘The Next Media Jackpot: The Fight For The $1 Trillion Hispanic Market.’
It’s really quite the interesting article, which ultimately, for me, makes it perfectly clear that none of these major players know for certain that their latest efforts will be fruitful… or even successful. Hagan de cuenta that they’re all digging for gold and at this point it could be anyone’s game. Times are definitely a changing folks!
Here are a couple of the most insightful quotes from the article:
“There’s a misconception that this is an easy-to-reach segment because they have fewer and more contained options to them… You almost need to think of it as the opposite. The reality is that Hispanic Americans have more options than any other consumer. They have options that make any consumer’s head spin, and what happens at that point is good TV just becomes good TV.” - Monica Gadsby, CEO of SMG Multicultural, part of the Starcom MediaVest Group advertising and marketing agency
“I have five children, and even though they’re bilingual, there’s nothing on TV that represents who they are and what they can be inspired by.” – Filmmaker Robert Rodriguez
“I don’t think you can talk about the ‘Big Four’ networks anymore when we (Univision) beat NBC 195 nights out of the year last year in prime time.” – Univision CEO Randy Falco
“The Hispanic market is no longer being viewed as a niche, minority market for a lot of companies… It’s becoming a fairly major part of the mainstream, and it’s helping to reshape the overall universe of consumers in a way that’s a bit surprising to people.” - Alex Ruelas, cofounder of the Austin-based marketing agency LatinWorks
Read the article in it’s entirety at Forbes.com.