via press release:
STARCOM MEDIAVEST GROUP AND TELEMUNDO ANNOUNCE
"BEYOND DEMOGRAPHICS™" LATINO IDENTITY STUDY TO BROADEN ADVERTISER PERCEPTIONS
Latino Leadership Consortium Created to Explore Multifaceted Identity of U.S. Latinos
NEW YORK —August 3, 2009 –Starcom MediaVest Group (SMG), in collaboration with Telemundo Communications Group, a leading producer of high-quality content for Latinos in the U.S. and audiences around the world, has announced the Beyond Demographics™ Latino Identity study aimed at providing advertisers with a deeper understanding of Latino consumers in the U.S. The U.S. Latino marketplace—a robust and highly complex community with an estimated population of 45 million and buying power of more than $860 billion—is the nation's fastest growing segment.
Inspired by SMG's umbrella "Beyond Demographics™" initiative to drive transformational change in the advertising industry's view and value of multi-cultured consumers, the Latino Identity project launched recently at the Westin Times Square in New York City. The first phase included the assembly of the Beyond Demographics™ Latino Identity Leadership Consortium—an esteemed group of cultural translators (those who straddle the world between U.S. and Latino identity) charged with initiating the dialogue that builds the framework of the study, due this fall.
Members of the Beyond Demographics™ Latino Identity Leadership Consortium represent the diverse fields of arts, music, business, medicine, academia and theology, and include: Fr. Ricardo Gerena, Holy Redeemer Catholic Church; Christina Diaz Gonzalez, author, "The Red Umbrella"; Christy Haubegger, lifestyle agent for Creative Artists Agency and founder of Latina magazine; Jose Marquez, vice president of digital media, mun2; Pedro Noguera, PhD, Professor of Education at New York University; Denisse Oller, host, "A la mesa con Denisse"; Carola Suárez-Orozco, Professor of Applied Psychology at New York University; Elena V. Rios, M.D., M.S.P.H, president and CEO, National Hispanic Medical Association; Bishops Angelo and Nancy Rosario, Church of God's Children; Miguel A. Sirgado, entertainment editor, People en Español and Jessy Terrero, music video and film director. The meetings were facilitated by Linda Higueras, HR director for Jackson Family Enterprises and Dr. Nat Irvin II, futurist thinker and Executive in Residence, Professor of Management at the University of Louisville.
"Our mission is to spark the conversations that begin our exploration into the Latino experience in the U.S. and really capture the richness of the community," said Monica Gadsby, CEO of SMG Multicultural, a division of Starcom MediaVest Group. "As the face of America changes, the 'general market' is increasingly a multi-cultured market, and we share a commitment with Telemundo to provide our clients with a more accurate depiction of the total-market experience."
Jacqueline Hernandez, Chief Operations Officer for Telemundo, said: "Looking at the U.S. Latino market, there is no question that this is a powerful consumer. It is also the fastest growing segment made up of a variety of psychographic sub-segments. Together with Starcom MediaVest Group, this research project will allow us to gain unique insights into the U.S. Latino consumer—their mindset, what they want, when they want it and how they want it conveyed."
The Beyond Demographics™ initiative launched in 2007 under the direction of Esther "ET" Franklin, EVP, Director of Cultural Identities for Starcom MediaVest Group, to transcend demographics in order to uncover the unique communities that exist within each culture and their distinct media preferences and consumption habits. The first iteration looked at the African American population and revealed 12 archetypes of black consumers. In 2008, SMG launched Chinese American DiscoverRe™, an exploratory study of the values and cultural nuances of the Chinese American community. For more information, visit www.smvgroup.com.