US Latin viewers better off than ever

Iñaki Ferreras ©RapidTVNews | 28-04-2012

The Latin population in the US has gained ground and the current economy greatly benefits from this group, according to Nielsen's 'State of the Hispanic Consumer: The Hispanic Market Imperative' report.

The Hispanic US market consists of some 52 million people, and accounts for one sixth of the US's population and is currently considered the minority segment with the greatest growth potential. According to Nielsen's report, "Latinos are impacting every aspect of the national landscape including popular culture, the workforce, consumerism, politics and American national identity. The Hispanic market's size, growing clout, and buying power of $1 trillion in 2010 and $1.5 trillion by 2015 require thoughtful understanding about what the market represents to a company’s bottom line. Latinos are no longer just a sub-segment of the economy, but a prominent player in all aspects of American life."
This impressive growth is accompanied by a great buying power (despite contrary belief), thus making it the most profitable market, with unique consumption habits, especially in regard to technology and media.
"Latino usage rates of television, smartphones, social networking, online video and other forms of entertainment make Latinos one of today's most engaged and dynamic targets," states the report.
The sheer numbers are quite revealing: for instance, Hispanic users tower over any other segment in the population as far as content downloads go. They receive an average of 941 text messages a month - more than any other group - and make 13 calls a day; 40% higher than the US average.
Even though Hispanics are less likely to have internet access at home compared with the US average (62% and 76%, respectively), 14% of Hispanic homes have increased broadband US during the last year, while broadband use in the general market grew only 6%.
The report also states Hispanics spend 68% more time watching video on the internet and 20% more time watching video on their mobile phones compared with non-Hispanic whites.
Finally the report reveals Latinos are especially active in regard to social networking: they are 25% more prone to being loyal to a brand; 21% to posting links to articles, videos and websites; 17% to creating or updating a personal blog; and 7% to having at least one profile on a social network.