MARKET DEMOGRAPHICS (LATIN MARKET)
The US Hispanic population is predicted by the US Census Bureau to reach over 43 million people by 2010, form the current figure of 42 million people. Today one out of five US residents is Hispanic. Hispanics is the largest minority group in the country.
According to Strategy Research Corp., 53.5% of US Hispanic households subscribe to cable, which has cable operators scrambling to offer more to this growing US market. The explosive growth of the Hispanic market has allowed traditional Spanish programmer Telemundo to become the US" fastest-growing TV network, which is constantly purchasing television affiliates. Other programmers are following suit by adding Spanish, bi-lingual, and other programming. According to Nielsen Media Research data, Hispanic households watched an average of 56.17 hours of television per week. This is approximately 12% more than the population as a whole.
However, this potentially lucrative market remains under-tapped. According to Kevin Filippelli, account executive at Focus USA, Hispanic household receive and average of 20 direct mail pieces a year, compared with the 300 or so received by the general population.
AGE/LOCATION
· 37% of Latinos live in LA, NY, and Miami.
· 87% of Latinos live in the 10 most populated states.
· Hispanic teens represent 18% of the total teen market.
· The total Spanish speaking population world wide is six hundred fifty million.