Internet Radio Must Tune In to the Emerging Hispanic Mainstream
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Last year was a landmark one in Hispanic media. On TV, new and planned broadcast and cable channels from Fox, ESPN and others now battle for the attention of Hispanic viewers against incumbents Univision and Telemundo.
Though not receiving the same national attention as TV, equally dramatic shifts have taken place in the Hispanic radio landscape. Like TV, the radio marketplace has quickly evolved from local broadcast, then satellite, to the emergence of internet radio as a primary destination catering to the changing musical tastes and listening preferences of Hispanic consumers, an increasingly powerful consumer segment of the U.S. population.
According to the Selig Center for Economic Growth, Hispanic spending power will rise to $1.5 trillion by 2015, or nearly 11% of total U.S. buying power. U.S. Census projections offer a similar view on the growing importance of Hispanic consumers. Hispanics presently make up 16.3% of the total U.S. population, or just over 52 million people. By 2050 this figure is projected to reach 133 million, or nearly one-third of the entire U.S. population.
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