Led by Allstate, auto insurers spent about $80 million on television ads targeting U.S Hispanics last year, according to a publication that tracks that market.
Citing figures from Nielsen Monitor-Plus, Hispanic Market Weekly said $78.7 million came from 36 insurers during the first three quarters of 2007.
That compares to $73.2 million invested by auto insurance companies in Spanish-language media buys during all of 2006 and $12.4 million spent in 2005, it reported.
The publication said television has been the primary beneficiary of the increased commitment to attracting Latino consumers. Through September 2007, roughly $58.4 million went to the four Spanish-language broadcast television networks. An additional $13.9 million was allocated to spot television.
Of the remaining dollars, $2.9 million went to Hispanic cable television networks tracked by Nielsen. An additional $2.6 million was earmarked for spot radio, while national Spanish-language magazines saw $1.4 million in ad dollars. Money going to local Spanish-language newspaper ads was a tiny $21,400.
In 2005, $652,500 went to magazines, Nielsen found, and a year later, the amount increased to $1,306,300. Meanwhile, radio ad dollars for Spanish-language AM and FM stations fell from $4 million in 2005 to $3.6 million in 2006.
Through September 2007, Allstate had spent $36,108,971 on Hispanic media. For all of 2006 it spent $37,894,803, according to Nielsen.
The rest of the top five spenders on that market for the first nine months of 2007 were State Farm ($25,347,970), AIG/21st Century Insurance ($6,631,943), Infinity Insurance ($4,398,605) and Farmers Insurance ($2,103,641).
Hispanic Market, breaking down Allstate's 2007 ad spend, said more than $32 million went to Hispanic television networks, with another $1.7 million going toward spot television. About $1.3 million went to cable television, and the remaining $1.1 million went to national Spanish-language magazines.
Through the first three quarters of 2007, Nielsen showed State Farm invested $20 million in ads appearing on Hispanic television networks. Roughly $2 million went to spot television, and cable networks received another $1.7 million. Magazines took in $232,700 in ad dollars.
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