Following the Money
[M]edia buying agency Magna Global in May reported that there are about 131 media outlets targeting Asians, including 75 cable channels and nine broadcast stations. That compares to roughly 1,100 outlets for African Americans and 985 geared to Hispanics.
The CAB’s Perkins-Roberts says the emergence of Asian cable networks reflects media companies taking note of recent population figures. But also of note is their wealth.
“Advertisers can get a great return on their investment in this marketplace because Asians have an income higher than even the general market,” she says.
Asians have a median household income of $55,700, according to the CAB, or about $9,000 higher than the median for non-Hispanic whites.
The Asian population is also the second-fastest-growing ethnic group, close behind Hispanics. As of last July there were 12.3 million Asians in this country, according to the Census Bureau, compared to 41.3 million Hispanics and 37.5 million African Americans.
The Asian population is expected to grow 68 percent from 2000 to 2020, when it will reach 18 million people.
Story here.
Update: The gaps in the paragraphs were bugging me.