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The Hispanic population has finally become the largest minority population in the United States, and as such, the advertising market for it has become wide open. According to a recent study, the advertising growth within the Hispanic population is expected to exceed that of the general market by 2010.
With a buying power that's projected to grow to more than $1 trillion by 2011 according to an estimate by the Selig Center for Economic Growth at the University of Georgia, the Latino market continues to attract advertisers.
The Hispanic Fact Pack published annually by Advertising Age (AdAge) states that, of the top 50 Hispanic ad agencies, 29 experienced double-digit growth in 2006 and more than half of the top 50 Hispanic marketers boosted their ad spending by double-digit amounts. Automotive advertising continued to be the biggest category, followed by retail and telecommunications.
More than 90 percent of respondents to a survey conducted by the Association of Hispanic Advertising Agencies (AHAA) assessing trends and influential factors in U.S. Hispanic advertising over the past decade indicated that they anticipated corporate ad spending targeting Latinos to increase in 2007 and more than 30 percent predicted budget growth of more than 10 percent.
While the Fourth Estate may have the power to inform, ad agencies have the power to package information to benefit their client's image as well as effectively reach the Latino consumer. That kind of power certainly deserves notice and recognition, so this month we've compiled our first annual list of the top 25 Latinos in advertising, recognizing the top 15 Latino agencies as well as the top tell advertisers in the Latino market. Although there are far many more, this list unquestionably includes the most important players of this highly profitable and ever growing industry.
THE AD AGENCIES'S TOP PLAYERS
01 RAY ARBIZU
President & CEO
Location: Phoenix, Arizona
Company: Arvizu Advertising and Promotions
With more than fifteen years of experience, Ray Arvizu, president and CEO of Arvizu Advertising and Promotions, has been at the forefront of Hispanic marketing efforts for Fortune 500 companies and small businesses alike.
Both in Atlanta, where he founded his company in 1991 and in his native Phoenix, where he relocated in 1994, Arvizu leveraged his innovative approach to advertising despite encountering limited advertising budgets. The company opened a second office two years ago in Denver.
Arvizu is pursuing opportunities in bilingual as well as Spanish-language markets for its clients. Gross billing increased to $103 million in 2007. The company is 100-percent Hispanic-owned and its client list includes: Qwest Communications, the Arizona Diamond-backs, Colorado Ski USA, Wells Fargo, Food City Grocery Stores (A Bashas' company), McDonald's (Phoenix Co-op), and the Girl Scouts Pine Council.
Deeply committed to growing the community, especially Hispanic-owned businesses, Arvizu formed the Arvizu Charities and Arvizu Scholarship Fund and is credited with pioneering the formation of the Association of Hispanic Advertising Agencies.
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02 JACKIE BIRD
President & CEO
Location: New York, New York
Company: Winglatino
Independently managed by Latinos, Winglatino is a partner company of the Grey Group, a WPP company.
President and CEO Jackie Bird has worked for the Grey Group, the parent company, for the past 20 years, in the U.S. and Puerto Rico. Prior to that, she worked as marketing manager at RJ Reynolds Tobacco Company and Procter & Gamble in Puerto Rico. She joined Winglatino, New York in 2000 and over the past six years has seen a marked growth in client development and new acquisitions. Bird is also chairwoman of AHAA.
Focused on the Latino market, Winglatino practices a multidimensional, intellectual approach. It's headquartered in New York, but has satellite offices in Los Angeles and Miami.
With services that encompass strategic planning, broadcast and print production, and media planning and buying, Winglatino's clients include: Dulcolax, British Petroleum, ARCO, Lilly, Goya, P&G, Clairol, Cover Girl, Downey, Time Warner Cable, and U.S. Bank.
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03 ERNEST BROMLEY
Chairman & CEO
Location: San Antonio, Texas
Company: Bromley Communications
Ad icon Lionel Sosa founded the agency in 1981. Bramley, its current chairman & CEO, joined shortly thereafter. Bromley Communications remains Hispanic-owned (51 percent by Ernest Bromley).
Considered a co-founder of the agency, As CEO Bramley was instrumental in developing the agency's research and Hispanic marketing approach known as "AIG" (Acculturation Influence Groups). This principle of segmenting the Hispanic consumer into levels of language and cultural comfort zones is widely utilized by the industry
Prior to joining the agency, Ernest taught economics at the University of Texas at San Antonio. He has a bachelor of…
Source: HighBeam Research, Money talks: the top 25 in finance: an exclusive research for Latino...