United States Multicultural Media Forecast 2023-2027

Description

PQ Media’s new United States Multicultural Media Forecast 2023-2027 is the first and only credible source to comprehensively research, develop and deliver consistent and actionable multicultural media market definitions, segmentation, market spending data, analysis of growth drivers and challenges, and five-year growth projections through deep-dive data across the multiethnic media spectrum. The groundbreaking study examines 3 key multicultural demographics – Hispanic, Asian and African Americans – and provides in-depth coverage of 12 multicultural media platforms, including 6 advertising and 6 marketing platforms, while analyzing 3 major media buying categories.

This new PQ Media report is the second edition of the United States Multicultural Media Forecast and marks the most in-depth examination of the growing domestic multiethnic media markets ever done, highlighting the largest and fastest-growing media platforms and delivering exclusive strategic intelligence covering the entire 2017-2027 period.

The primary objective of this updated market intelligence report (the first edition was published in 2019) is to provide major media stakeholders, including media companies, brand marketers, advertising & marketing agencies, management consultants, investment firms and trade organizations with the most comprehensive, in-depth perspective of the diverse and growing multicultural media landscape available.

Accordingly, our research analysts segmented the new PDF Report & Analysis and the companion Deep-Dive Excel Databook by the 3 key demographic groups, 12 media platforms and 3 media buying strategies to help industry stakeholders better understand how to serve these markets while achieving their own strategic growth objectives.

The multicultural media market has become a crucial consumer segment for advertisers and marketers to accelerate annual growth and increase overall US market share. Multiethnic consumers, including Hispanic, Asian and African Americans, constitute the fastest growing demographic in the country, yet this diverse consumer market accounts for a mere sliver of the total American media spending pie. To put this into context, multicultural consumers comprised nearly 40% of the total US population in 2023, but multiethnic media investments drew only 5.3% of total media spending.

PQ Media’s research team used our proprietary econometric methodology to do the hard work you don’t have time to do, as the just-released US Multicultural Media Forecast 2023-2027 delivers exclusive, in-depth datasets, market sizing, PEST trend analysis and growth projections with the most breadth and depth available anywhere. We strive to make it easier for you to harness the vital market intelligence you need to make smarter business decisions, create more effective strategic plans and to achieve successful tactical executions.

*Among the Key Features & Benefits of a Site License to the New Forecast are:

• Core PDF Report & Analysis delivering over 200 PowerPoint slides of exclusive data, analysis and datacharts, with in-depth coverage of multicultural demographics, media sectors platforms and buying strategies;
• Deep-Dive Excel Databook providing thousands of drill-down datasets and datapoints deep-dive charts, and expert insights covering multicultural media demographics, sectors platforms and buying strategies for the entire 2017-2027, including 2023 year-end estimates and 2024-2027 ad & marketing spend projections.
• Credible, consistent and detailed multiethnic media industry definitions, segmentation, market sizing, demographic profiles, projected spend and growth outcomes, and key opportunities and challenges that lie ahead in 2024 and beyond;
• Exclusive rankings of the largest and fastest growing multicultural media demographics, all 12 media platforms divided by 6 advertising and 6 marketing sectors, as well as 3 major media buying categories.

*Some top-line highlights from the new report include:

• Total US multicultural media spending increased at a decelerated 5.7% to $34.64 billion in 2023;
• However, PQ Media expects overall domestic multiethnic media spend to grow at an accelerated 8.3% in 2024, the fastest growth in 12 years, fueled by the US presidential campaign and the 2024 Summer Olympics in Paris;
• Hispanic American media revenues accounted for the largest share of multicultural media spending in 2003, commanding 68.2% of the total, while the African American category grew the fastest, up 6.1%;
• Television was the largest media platform in 2023, generating at $9.65 billion, followed by relationship marketing at $5.31billion;
• Experiential marketing was the fastest growing media platform this year, surging 15.2%, while influencer marketing expanded at a 13.6% rate.

To download a FREE Executive Summary (with full Table of Contents) and Sample Datasets from the new US Multicultural Media Forecast 2023-2027 fill out the short form that appears after you click the “Free Sample Download” button above. Please ensure your email address is correct because it will be used to send you the links to download your free report samples. Check your Junk Folder if you don’t receive the email in your inbox.