Time Inc. Ups Its Bet on the Latino Market
Company introduces new verticals and strategy ahead of its Q3 earnings report.
On the eve of its third-quarter earnings report, Time Inc. revealed it’s putting an aggressive focus on the fastest growing U.S. market with the introduction of Time Inc. Latino.
The new division looks to leverage the company’s already-deep penetration into the Hispanic/Latino market by serving more English and Spanish language content tailored to that audience. Believe it or not, Time Inc. has a larger Hispanic/Latino audience than Univision and Telemundo combined in digital, with a reach of 18.3 million, according to 2017 comScore Multiplatform/GfK MRI Media + Fusion data. So more emphasis on this audience is intended to further strengthen the market share, which offers a lot of upside as marketing budgets are increasing to reach multicultural demos.
For now, the new division is rolling out with two branded verticals — People Chica and Planeta Futbol. The former will be an English-language extension of the People brand, and the latter is Spanish-language collaboration between Sports Illustrated and 90min, a company that produces soccer coverage from around the world. But more is coming in 2018, according to People en Espanol’s VP and brand sales director, Monique Manso, who is spearheading this project. While she wouldn’t reveal what other new brands or verticals are on the horizon, she did suggest that food and health and wellness are extreme areas of interest for the company.
Like many of Time Inc.’s latest product launches, this strategy will look to engage with Millennials through digital- and social-native channels. Manso indicates that’s a critical component in reaching the highly coveted younger demo. “Take a look at what’s happening with the boom in the Hispanic market, which includes Millennials”, she says. “Everyone wants to speak to them, but you can’t unless you’re speaking to a multicultural market in an authentic way. You can’t be a leading media company in this country if your product doesn’t reflect the complexion of the country.”
The more aggressive focus on the Hispanic/Latino market goes beyond an audience development strategy, however. Manso says that it’s also critically important for Time Inc.’s advertising partners. “The marketing community is still trying to find its way,” she says. “We’re answering the call. We are best positioned to deliver this audience. It’s a real responsibility and advantage for us.”
Manso also tells Folio: that Time Inc. Latino will make use of existing talent resources from People en Espanol for the Chica brand but will also bring in new talent as well.