Multicultural Segments Targeted Advertising to Reach US $16.5 Billion by 2027, According to New Portada Insights Report
Portada, the knowledge-sharing and networking platform for brand marketers in Multicultural America, just released the Marketing in Multicultural America 2023-2027 Insights Report.
The report is available for download (free registration required). According to the report, advertising targeting the African-American, Asian-American, and Hispanic populations will reach US $16.5 billion by 2027, growing by 25.9% versus 2022.
With a multicultural majority in the crucial GenZ cohort (aged between 8 and 23 years old) expected by the U.S. Census by 2026, all marketing in the U.S. should be done through a multicultural lens. Quantitative and qualitative input for the report was obtained through a survey of more than 200 brand marketing practitioners. These experts also graded six growth drivers of multicultural marketing: Understanding of Minority Media Ownership, Companies' Capabilities vs. Multicultural Marketing Segments, Purpose Driven Marketing, Research of the End-audience, and Diversity Equity and Inclusion.
Select experts from the brand, media buying agency, and media/tech communities provide insights on the evolving market, including how the skills to be a successful multicultural marketer in the U.S. have evolved.
Cultural Marketing and Hispanic Market Intelligence
The report delves deep into the Hispanic market and provides answers to questions, including the below:
- How much will the Hispanic digital market grow, and what are the key growth drivers?
- English/Spanish/Bilingual: Which are the main advertising vehicles?
- Why rumors of the death of linear media are greatly exaggerated.
- How much will digital retail media targeting the Hispanic population grow in the coming years?
Portada partners for the Marketing in Multicultural America Insights Report are:
Major League Soccer/Soccer United Marketing
About Portada:
Founded in 2003, Portada is the leading knowledge-sharing and networking platform for brand marketers in the Americas. Portada events and digital media drive Marketing Innovation and are the ideal platform for Tech, Marketing, and Media companies to gain exposure and new business. The next Portada event will be taking place on September 28 in NYC and virtual.
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