[vc_row][vc_column width=”1/1″][vc_column_text]Audiences are in constant evolution but one of the most dynamic segment is the US Hispanic. This market is rapidly developing in a changing world.
Just a couple of empirical notes. Hispanics consume more mobile video content on social media than any other ethnic group. Currently, the Hispanic consumer views 66% more video content on their smartphones every week than non-Hispanic consumers.
Digital video has caught on with Hispanics. Eight in 10 use subscription services, with Netflix atop the list. Many use streaming services more than traditional TV—a trend poised to accelerate as more Hispanic-oriented content comes online (emarketer.com).
Why this segment market is important?
In the first place, Hispanic Americans projected to account for roughly a third of the US population by 2050, the time to start targeting this market may be now (thenextweb.com). Maybe to can check our post about Hispanic drive homeownership growth.
In the second place, they are already a connected segment. “Hispanic consumers in the U.S. are now considered a very connected and digital first community. Effective outreach to different cultures within the hispanic market can spread like wildfire down to their home countries,” wrote Nick Kyriakides, COO at NetTALK. When it comes to marketing to this market, it is important to leverage digital channels.
This is why many companies are trying to implement more video based services. For example Entel, among Chile’s largest telecommunication companies, recently introduced a new video platform powered by the Kaltura TV Platform. What they are trying to do is to push their platform and get more exposure for brands and advertisers willing to target this market.
For sure, in the short term the video arena will be full of rude competition. The good news is this kind of scenarios are always good for consumers and an interesting opportunities for new businesses.