New Data Reveals Surge in Ad Budgets for Hispanic and Diverse Audiences -- Insights from Industry Leaders. Listen to the accompanying podcast above or here.
According to The Myers Report survey, advertising spending forecasts for 2025 project growth across various media categories. Notably, multicultural media and diverse-owned/operated media show strong budget stability and growth compared to other categories, despite challenges in the economic landscape. The survey data, collected among 3,400 respondents in July 2024, indicates increasing investments in diverse and multicultural media, driven by advertisers’ commitment to reaching diverse audiences and acknowledging the purchasing power of multicultural groups, particularly the Hispanic demographic.
Key Findings from The Myers Report Survey Data
The data from The Myers Report reveals the following insights into projected ad investments:
- Multicultural Media: While 12% of respondents reported a significant increase in budget allocation for multicultural media, an additional 44% indicated a moderate increase. This makes multicultural media one of the categories with a stable or increasing budget trend, suggesting an optimistic outlook for 2025.
- Diverse Owned/Operated Media: For diverse-owned/operated media, 16% of respondents forecast a significant budget increase, with another 43% indicating a moderate increase. This trend demonstrates advertisers’ growing awareness of the value of supporting media channels owned and operated by diverse entrepreneurs, reflecting a broader shift toward inclusivity and representation in media spending.
These findings position multicultural and diverse-owned media as growth areas for advertisers seeking to build brand equity and foster loyalty among multicultural consumers.
Industry Projections and Insights
Industry leaders at major Hispanic media organizations such as TelevisaUnivision and Telemundo have underscored the importance of investing in multicultural media, particularly Hispanic-focused channels. This aligns with broader industry trends and projections that multicultural and Hispanic media spending will experience growth due to the rising influence of the Hispanic consumer base, which accounts for a significant portion of total U.S. purchasing power.
Donna Speciale, President of U.S. Advertising Sales and Marketing at TelevisaUnivision, highlighted the opportunity: “Advertisers are increasingly recognizing that the Hispanic audience is not a niche market but a significant and integral part of the American mainstream. As such, investment in Hispanic media is not only a strategic decision but a necessary one to drive business growth.”
This perspective reflects a commitment by TelevisaUnivision to expand partnerships with brands that aim to resonate with the Hispanic community, providing advertisers with access to a highly engaged audience across television, digital, and streaming platforms.
Beau Ferrari, Chairman of NBCUniversal Telemundo Enterprises, has also emphasized the role of Hispanic media as a growth driver, stating: “As the fastest-growing demographic, Hispanics in the U.S. offer brands an unparalleled growth opportunity. Investment in Hispanic media channels not only supports representation but is also proven to drive ROI for advertisers.”
Ferrari’s comments reflect a shared belief in the value of connecting with Hispanic audiences through dedicated media channels, further validating the growth projections seen in The Myers Report survey.
Broader Trends in Multicultural Media Investment
A report by Magna Global predicts a 6-8% annual increase in multicultural ad spending through 2025, with Hispanic media comprising the largest segment of this growth. This aligns with insights from The Myers Report, showing that brands recognize the importance of targeted multicultural marketing strategies. Hispanic consumers, in particular, represent a young and digitally engaged demographic, which makes Hispanic media channels an appealing choice for advertisers.
The Hispanic audience is known for high digital engagement, making Hispanic-targeted media a strategic choice for brands seeking to optimize their digital advertising budgets. As The Myers Report survey shows, social media and digital video are also experiencing growth, with 44% and 47% of respondents, respectively, indicating budget increases. Hispanic media organizations have leveraged this trend, expanding their digital and social media presence to cater to younger audiences who consume content primarily online.
For example, TelevisaUnivision’s streaming platform, ViX, has gained traction among U.S. Hispanic audiences, offering a robust catalog of Spanish-language content. This platform expansion allows brands to reach the Hispanic demographic on a digital-first basis, aligning with the forecasted growth in digital video spending.
The positive spending forecast for multicultural and diverse-owned/operated media reflects a broader industry trend toward inclusivity and targeted marketing. Brands that invest in multicultural media, particularly Hispanic-focused platforms, are well-positioned to build brand loyalty within these influential demographic groups. The insights from The Myers Report, along with statements from industry leaders, demonstrate that Hispanic and multicultural media channels will continue to be essential components of advertising strategies in 2025 and beyond.
As companies plan their budgets, investing in multicultural media not only supports brand values of diversity and inclusion but also drives tangible business results by connecting with engaged, culturally resonant audiences.