First published on http://www.bizjournals.com
TargetSpot, the largest most advanced digital audio advertising platform, is extending its reach with Hispanic audiences by expanding its partnerships with the leading Hispanic media companies, such as SBS (Spanish Broadcasting System), the largest publicly traded Hispanic-controlled media and entertainment company in the United States. 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% growth from 2010 and music is central to reaching this audience. Hispanics spend over 20 hours a week listening to music and 97% 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% 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.