I was recently asked to address the National Hispanic Corporate Council (NHCC) at their annual meeting in Atlanta. This is the gathering of some very smart folks in Corporate America who are always trying to stay ahead of the curve as it relates to best practices in reaching out to Hispanics. Their mission statement is very clear.
NHCC Mission Statement:
“To provide best in class solutions and foster professional networks by maximizing the Hispanic market opportunity among Fortune 1000 corporations”.
I was asked to speak to the convergence of Traditional and Emerging media. A topic that is at the top of the charts for all. No matter whom you are trying to target. My first point to the group was that the title to the conference was right, Traditional vs. Emerging and not Old vs. New, which unfortunately is how many are approaching this topic. We all see it every day, pundits who want to throw out the baby with the bath water. When in reality, traditional media is the one feeding the emerging media, and this is especially true in the Hispanic market, where content generation is still very much in the hands of one dominant player. And yes distribution may be the Queen, but content, has always been the King.
And the King of Spanish language content is as we all know, Univision. That is why they are able to claim millions of unique visitors and a host of other very powerful numbers in the emerging media category. Yes other players are starting to have an impact as well, Yahoo with Telemundo, Batanga, People en Espanol, Terra just to name a few. All of whom are setting a new paradigm as it relates to Hispanics and this emerging media sector.
The numbers are speaking for themselves, Hispanics are spending 16 hours per week online, compared to 20 hours watching television. Access to the internet is now up to 73% for Spanish dominant and bilinguals, compared to 93% against the general market. In my estimation, parity is now within sight in the next 5-7 years.
And in the wireless arena, Hispanics are leading the way. Four companies are fighting it out for dominance with the Hispanic consumer, AT&T, Verizon, Sprint and T-Mobile. They all understand that wireless holds the future as a distribution platform. Take a look at the chart below, Hispanics over index across the board in adopting advanced wireless features.
These numbers speak for themselves, and easily explain why the investment levels against the Hispanic market by the wireless providers was over 300 million last year. So while the emerging media are starting to gain traction in the Hispanic market, including social networking. Traditional media still plays a disproportionate role.
By: Jose Cancela
Jose Cancela is Principal of Hispanic USA Inc, a full service Hispanic Market Communications firm. He has also the author of “The Power of Business en EspaÃ±ol, Seven Fundamental Keys to Unlocking the Potential of the Spanish Language Hispanic Market” Rayo / HarperCollins.