TargetSpot, a digital audio advertising platform, is extending its reach with Hispanic audiences by expanding its partnerships with leading Hispanic media companies, such as SBS (Spanish Broadcasting System). The expanded partnerships give TargetSpot one of the largest footprints among Hispanics in digital audio and enable its advertising partners to reach millions of additional Hispanic listeners across multiple devices.
Hispanic purchasing power is expected to reach $1.5 trillion dollars in 2015, a 50 percent growth from 2010 and music is central to reaching this audience. Hispanics spend over 20 hours a week listening to music and 97 percent say they listen to music at least once a week according to Nielsen. Advertisers, not wanting to be left behind, have grown their spending by 8 percent to over $8 billion on Hispanic media in 2013 in an effort to reach this valuable and growing audience. By contrast general market ad spending grew less than 1% during the same period.
“The Hispanic consumer is young and connected, and music is central to their lifestyle and culture. Brands can’t afford to play catch up because this audience is too savvy and typically ahead of the general market in terms of media trends. That’s why we’re continuing to strengthen our partnerships with the leading Hispanic media groups to make sure we can help brands keep up with this fast moving audience,” said Mitch Klein, co-CEO of TargetSpot.