Agency

It has been a few months since I sat at my computer to put out a column. God knows there has been much to write about. But it was time that I needed in re-tooling my business. Fortunately I can not complain. During the summer, we were fortunate enough to have picked up the National PR duties for DIRECTV Mas, as well as becoming the Strategic Consultants for Harpo Studios. But enough about us. Let’s catch up. By Jose Cancela. To view El Blog CLICK above.

A question I have been hearing more and more lately with all the negative economic news coming out of Wall Street and Washington is what effect this economic slowdown will have on the U.S. Hispanic market. As I’ve thought about this question, I found it useful to understand the key components of the U.S. Hispanic economy. My approach was to look at the Hispanic market from 3 different lenses – 1) Hispanic consumer spending, 2) Hispanic advertising, and 3) Hispanic small business. By Jose Villa/Sensis.

As many of you know, Interep over the last couple of years has suffered through some tough economic conditions at the company. In an effort to work its way out of its financial woes, the company filed for Chapter 11 protection to pursue options for a private buy-out by one of their partners Oaktree Capital Partners.

It seems that has not worked and Interep filed for Chapter 7 status today in Manhattan Bankruptcy Court and will begin to liquidate assets.

This implies selling all assets, closing the company and letting go of all employees.

This could takes days, weeks and months, but it becomes problematic for all radio and television station that are represented by Interep companies, particularly Spanish Broadcasting System radio stations and Mega TV along with Azteca America TV stations, Una Vez Mas Azteca America TV affiliate group and other independent Spanish language TV station clients.

Since 2000 Hispanics have accounted for more than half (50.5%) of the overall population growth in the United States — a significant new demographic milestone for the nation’s largest minority group. During the 1990s, the Hispanic population also expanded rapidly, but in that decade its growth accounted for less than 40% of the nation’s total population increase. In a reversal of past trends, Latino population growth in the new century has been more a product of the natural increase (births minus deaths) of the existing population than it has been of new international migration. As of mid-2007, Hispanics accounted for 15.1% of the total U.S. population.

The credit crisis is having a very obvious impact on the global economy, as anyone can see from a day-to-day observation of the stock market — but there are some less obvious points of impact that may affect our business, as well. Simply put: Clients and agencies need to stop delaying payment on their bills. It is unprofessional and fast becoming an even greater problem than it used to be.

Telemundo Communications Group announced a concept integration partnership with Chevrolet for the recently-premiered primetime novela, “El Rostro de Analia.” The announcement was made by Jacqueline Hernández, Chief Operating Officer, Telemundo.

Over the last couple of weeks, we have seen the political crescendo rise to deafening levels about our economy and the future of our country. Wall Street and our politicians did not help, since greed and misplaced interest almost brought the world to an economic standstill. And it still might happen.

We have seen the currency and future wars of the world no longer about coins or paper or geography won and lost, but evolving. Its about energy sources for the future.

But what does this have to do with the US Hispanic Market?

It has a lot to do about the US Hispanic Market. We are no longer under the radar as a consumer base, ad budgets or media entities in a vacuum.

We are now a BLIP on the ad industry radar.

What do you think? To read El Blog CLICK above.