Advertising and marketing spending targeted at multicultural audiences in the U.S. will expand 6.3% in 2020, exceeding recent levels of growth, according to the latest edition of an annual forecast being released today by media industry economists PQ Media.
That growth, however, will be the same that PQ Media projects for the overall expansion of advertising and marketing spending in the U.S. next year, indicating zero growth in the share being allocated to media targeting multicultural audiences.
Moreover, the report also reveals that a significant disparity already exists between the relative shares multicultural segments represent in the U.S. population, vs. the share of ad spending being allocated to them (see chart above).
While Hispanic Americans, African Americans, and Asian Americans now represent significant shares of the U.S. population, they attract relatively small shares of ad spending.
Hispanic Americans, which have the highest advertising-to-population representation (one-to-five), benefit more than other groups because of a relative abundance of Spanish-language media.
However, "all others" -- a segment mostly representing White Americans of European descent -- represent 94.8% of all ad-budget targeting, but only 62.7% of the population
The new report is based on research sponsored by the Association of National Advertisers (ANA) and the Alliance for Inclusive and Multicultural Marketing (AIMM).