Business
CMO Tenure Study 2024: An Expanded View of CMO Tenure and Background
For 20 years, Spencer Stuart’s annual CMO Tenure Study has tracked the tenure and backgrounds of chief marketing officers from the top 100 advertisers in the U.S. This report highlights the challenges CMOs face and the opportunities for increasing their impact. We continue to enhance our tenure study, expanding our analysis to include new data points and, in 2022, we began incorporating data from the broader list of Fortune 500 CMOs into the analysis.
MediaCo acquires Estrella Media’s Content and Digital Operations
MediaCo Holding Inc. announced that it has acquired all of Estrella Media’s network, content, digital, and commercial operations. Among the Estrella Media brands joining MediaCo are the EstrellaTV network and its influential linear and digital video content business, and Estrella Media’s expansive digital channels, including its four FAST channels – EstrellaTV, Estrella News, Cine EstrellaTV, and Estrella Games – and the EstrellaTV app. The transaction closed on April 17, 2024.
Measuring Gender Imbalance in Advertising
The portrayal of women in advertising has evolved over time, reflecting changing societal norms and cultural expectations. However, in recent years, there has been a resurgence of gender stereotypes portrayed in advertising, particularly regarding how women are presented.
7 in 10 Workers Don’t Want to Be Fully Remote [REPORT]
Since 2020, remote and hybrid work has opened up new opportunities for employees, creating a narrative that workers prefer flexibility of remote work over going into the office. However, this might not necessarily be true.
Decoding Compensation Models and Implementing the Right Model [REPORT]
This joint initiative from the ANA and the 4A's, developed by a task force of ANA and 4A's members, is an executive-level guide that details various compensation models that focus on better outcomes for both marketers and their agencies. The primary objective is to establish a robust framework that benefits marketers and agencies, raise awareness about the available choices of compensation methods, and empower stakeholders to make well-informed decisions.
HMC TO ADVERTISING & MARKETING EXECUTIVES: STOP LATINO COATING
In today’s competitive marketplace, CMOs face immense pressure to achieve growth. Proper investment and authentic engagement with U.S. Latinos, who are influencing mainstream culture and fueling demographic shifts is the clear answer. The Hispanic Marketing Council (HMC) unveiled a new campaign at its 2024 Annual Summit calling on the advertising and marketing industries to “Stop Latino Coating.” The resounding message? Give Hispanic marketing the weight it deserves, connect authentically or kiss your careers goodbye—#STOPLATINOCOATING.
The Power of Business en Español by Jose Cancela
Think about it: at no time in the history of America has an immigrant group had the media ecosystem keeping its native language alive the way the Hispanic community does today. Spanish-language media is ubiquitous. TV, radio, digital, outdoor, film, streaming, music, fashion, influencers – you name the medium, platform, genre or industry, and there is a powerful Spanish-language version. By Jose Cancela
Latinos in Sports launches
Seasoned executives from the worlds of sports, media, and marketing announceda joint venture focused on the power of Latinos in the global sports industry. The multitiered platform will focus on content, careers, and convenings, and officially launch during Miami's Formula 1 weekend.
d expósito & Partners signs well-known ad executive “Tony” Ruiz
In a statement released to HispanicAd.com this morning, Daisy Expósito-Ulla, leader of d expósito & Partners, announced the hiring of “Tony” Ruiz, an accomplished ad and marketing executive with years in the industry. ¡BIENVENIDO, TONY!
1 in 3 Hiring Managers Say It’s Beneficial To Avoid Hiring Gen Z, Senior Candidates
ResumeBuilder.com published a recent survey report exploring the prevalence of ageism in the workplace in 2024. The report also shares insight into hiring managers' apprehensions regarding the employment of Gen Z or senior workers. Overall, researchers collected and analyzed responses from 1,000 hiring managers.
Retail Sales to Reach at Least $5.23 Trillion in 2024
The National Retail Federation forecasts that retail sales will increase in 2024 between 2.5% and 3.5% to between $5.23 trillion and $5.28 trillion. The announcement was made during NRF’s fourth annual State of Retail & the Consumer virtual discussion on the health of the American consumers and the retail industry.
Marketing procurement seeks better, smarter metrics in 2024 [REPORT]
WFA research shows that teams are looking at creative and production as well as media in their bid to identify savings for 2024. Many company target setters fail to understand marketing, increasing barriers between procurement, marketing and the rest of the organization.
Digital Momentum leads MAGNA to Raise 2024 Advertising Market Forecast to +9%
Vincent Létang, EVP Global Market Intelligence and author of the report, said: “Several factors led MAGNA to increase its US ad market growth forecast. That includes an improved macro-economic outlook with GDP growth raised from 1.7% to 2.4% in the last few months, the momentum of digital media formats: social media, retail media, and streaming. The latter is driven by a strong expansion in the reach and marketing opportunities offered by ad-supported streaming. That leads MAGNA to raise the non-cyclical growth forecast to +6.7%. We are slightly reducing the forecast for cyclical spending (due to a slowdown in political fund-raising) but, overall, we now expect total media owner ad sales to grow by +9.2% this year (compared to +8.4% in our previous update) to reach $369 billion.”
ORTEGA Beauty Brand launches
Etienne Ortega, the renowned makeup artist behind celebrities including Lana Del Rey and Christina Aguilera, launched his own beauty brand, ORTEGA. The brand is inspired by Etienne’s signature lip contouring techniques and is formulated with ingredients from his native Mexico, including Blue Agave.
Women’s History Month: March 2024
National Women’s History Month honors the successes and sacrifices of U.S. women. It dates to March 8, 1857, when hundreds of women from New York City garment and textile factories rallied to protest harsh working conditions. In 1909, New York City became the site of the nation’s first Women’s Day celebration, a year after 15,000 women there marched to demand shorter working hours, better pay, an end to child labor and the right to vote. More than seven decades later in 1981, Congress set aside the second week of March as National Women’s History Week. Six years later, Congress expanded the week to a month. As we celebrate Women’s History Month, we reflect upon the advances women have made, including increased earnings, educational attainment and job opportunities.
HMC ANNOUNCES SHORTLIST FOR THE 2024 HMC STRATEGIC EXCELLENCE AWARDS
After a record year with over 20% growth in total entries, the Hispanic Marketing Council (HMC) announced the short list for the Strategic Excellence Awards Powered, the only award competition of its kind recognizing strategic excellence in Hispanic marketing and advertising and cultural fluency.
Humor in Ads Needs a Revamp
Heard that humor is hot in advertising right now? You must be having a laugh. Despite advertisers predicted to pick up the stand-up mic this year after seemingly taking itself a little too seriously – the ad industry has so far barely managed to register a titter.
Hispanic-Serving Institutions Across The Nation [REPORT]
In 2022-23, there were 600 institutions that met the definition of an HSI compared to 572 in 2021-22. This increase of 28 institutions or 5% from the previous year, highlights the continued growth in Hispanic student enrollment at colleges and universities across the country.
2024 Digital Media Trends [REPORT]
This year’s Digital Media Trends point to continued industry disruption—not just from streaming, social, and gaming, but also from how these media and technologies combine. As these disruptions mature, their convergence sets up the next revolutions. Companies need to lead these advancements—or risk living in another’s vision.
Spanish Broadcasting System to receive Multimillion Dollar settlement from Voz Media
Spanish Broadcasting System, Inc. ("SBS" or "the Company") (OTC Pink: SBSAA) announced that it had reached a multimillion dollar out-of-court settlement with VOZ Media regarding VOZ's default of its $64 Million acquisition of the SBS Mega TV division.
