Analysis Emphasizes Significance of Tech-Savvy Hispanic Demographic
Revised Base Article:
The upfronts season for networks, digital platforms, and advertisers is heating up, and a new study by Altman Solon shines a light on the growing significance of the digitally savvy Hispanic audience.
This group, renowned for their early adoption of technology, presents a dynamic, fast-growing, and lucrative market with purchasing power in the trillions. The Altman Solon 2024 Consumer Video Survey, focusing on U.S. Hispanic audiences, underlines this reality.
In this latest release, researchers have emphasized the vibrant and rapidly expanding nature of the Hispanic market. Incorporating enrichment data, we discover that Hispanics significantly over-index other population demographics in terms of technology adoption and early adoption of new technology.
Hispanic respondents in the survey self-identified as tech pioneers, embracing innovative video experiences and advertising formats. These findings hold valuable insights for brands and advertisers targeting this audience segment.
In an intriguing finding, the survey reveals that U.S. Hispanic viewers display a pronounced interest in shoppable TV advertising, outpacing their non-Hispanic counterparts. Moreover, they exhibit a higher inclination towards pause screen ads, suggesting an active and engaged audience eager to learn more about products presented within their favorite shows.
The survey also disclosed that Hispanic viewers – early adopters of new video experiences – are 1.5 times more likely to show keen interest in augmented reality (AR) and watch parties than the general population.
Altman Solon associate partner Daniel Weinbaum shares his insight, stating: "Hispanic households enjoy viewing programs together and are frequently first in line to adopt new video technologies across various age groups. The resilient, engaged, and financially influential Hispanic viewer presents a critical demographic for the industry to reach."
Beyond Shoppable Ads
According to the researchers, Hispanic respondents were almost as open as the non-Hispanic group to skippable ads (43% vs. 50%), survey ads (43% vs. 45%), and pre-roll ads (41% vs. 40%).
Other essential findings of the survey including more than 500 U.S. Hispanic viewers:
- Live Pay TV access rates are higher for Hispanic households, especially among respondents under 45 years old.
- Hispanics have higher viewing rates than the general population for all surveyed genres, led by animated, sci-fi, and fantasy shows – a testament to intergenerational co-viewing.
- A greater proportion of Hispanic respondents identified as early or near-early adopters of emerging video consumption technology.
- With Hispanics adopting emerging video advertising experiences at a faster pace than the general population, this group represents a prime target for brands and advertisers seeking to maximize their potential.
- AVOD and SVOD consumption among Hispanic viewers is substantial and primarily driven by the 45-plus age demographic.
Access the report here
Enhanced Insights – A Deeper Dive
The enrichment data reveals that Hispanic audiences exhibit a tech-savvy profile, particularly in terms of their interest in emerging video experiences such as AR, virtual reality (VR), and watch parties. They are lead adopters of these experiences, with 1.5 times more interest in AR and 1.4 times more engagement in VR and second-screen experiences than non-Hispanic groups.
Furthermore, the survey findings appreciate the influential role of Hispanics in terms of purchasing power and engagement. With their spending power and appetite for video content, Hispanic audiences present a valuable audience segment for advertisers to target.
Advertisers and media companies looking to maximize their reach and effectiveness in the digital landscape would do well to consider developing programming and marketing strategies tailored to the unique interests and preferences of the U.S. Hispanic audience. By offering culturally relevant, inclusive, and diverse content, brands can capture the hearts and wallets of this dynamic and evolving market.
- In the 2024 Consumer Video Survey, the Hispanic audience was identified as a tech-savvy market that is rapidly growing and lucrative, with a significant interest in streaming video and early adoption of new technology.
- The survey found that Hispanic viewers have a strong preference for shoppable TV advertising, suggesting an active interest in learning about products during their favorite shows.
- Hispanic viewers were 1.5 times more likely to show interest in augmented reality (AR) and watch parties compared to the general population, indicating a tendency towards new video experiences.
- Despite having a high adoption rate for emerging video technology, Hispanic respondents were as open as the non-Hispanic group to skippable, survey, and pre-roll ads.
- The survey revealed that live Pay TV access rates are higher for Hispanic households, especially for those under 45 years old, and they have higher viewing rates for various genres, such as animated, sci-fi, and fantasy shows.
- With a substantial AVOD and SVOD consumption driven by the 45-plus demographic, Hispanic audiences represent a prime target for brands and advertisers seeking to maximize their potential in the digital media landscape.
