The U.S. Hispanic population holds some $4 trillion in purchasing power. Yet, ad dollars targeting this group of consumers lags significantly. How can U.S. Hispanic radio, in particular, pivot its sales pitch?
Radio + Television Business Report President/Publisher Deborah Parenti asked this question to a panel of radio leaders representing some of Spanish-language media’s key companies during the Executive Super Session at the Hispanic Radio Conference in Phoenix.
For Bustos Media President John Bustos, the spending power of U.S. Hispanics is there, and is displayed in instances where the listening audience wouldn’t hesitate to spend $300 a ticket for a concert or a dance.
Speaking via satellite from Miami due to a family commitment, MediaCo CEO Albert Rodriguez noted that, as ad revenue is not commensurate to the Hispanic audience’s spending power, the U.S. Hispanic media industry has an opportunity to grow. Why? “Because more and more the advertisers are looking for the end results for their campaigns,” he said, noting that attribution models will help the industry solidify more funds.
At MediaCo, Rodriguez says, “We are showing the reach and the connectivity to the audience and they are engaged. They can go to the cash registers and they can transact. Don’t just check the box and buy Hispanic advertising because we are a fifth of the population. Buy into all of our platforms, because we are going to show up and because we are going to spend money.”
For Norsan Media President Edgar Saucedo, the growing company with a strong imprint in the Southeastern U.S. notes, “We always have to believe in what we are saying, and it is very important to say this, as it is all about consumer understanding how to reach the U.S. Hispanic market.”
Also on the panel was recently named Entravision Audio President Eduardo Maytorena, who says inviting sponsors in for an hour through integration brings more than a single live read, pulling advertisers in ways that in Phoenix, Los Angeles and Sacramento have brought some $300,000 in new revenue over the last 90 days.
Later in the discussion, Bustos brushed on the importance of digital by weighing that against events, which remain essential to reaching Hispanic community members who consume local Hispanic radio.
Attendees also learned first from Maytorena that a “last-place” Entravision station in Los Angeles will become “Reina” on Monday, taking an “influencer-driven” Latina-targeted approach. He did not disclose which station would be changing its Spanish-language radio format, but it is believed to be KDLD-FM/KDLE-FM, presently cumbias-focused “Viva 103.1.” The signals largely cover areas west of the 405 Freeway and were once the home of the Spanish Contemporary “Súper Estrella” brand, which Entravision placed there upon its acquisition from Big City Radio, which aired a direct format competitor also branded as “Viva.”
Maytorena also took a moment to salute former Entravision executive Jeffery Liberman for his pioneering efforts in Spanish-language radio syndication. At the same time, he suggested that remote broadcasts and station activation opportunities in the community are now a focal point for growth. “I want to connect with our communities again — that’s the future of radio,” he said.
