Substantial growth is anticipated for Hispanic TV and radio advertising, according to SNL Kagan's report, "Economics of Hispanic TV & Radio in the US."

The four major US Hispanic TV broadcast networks brought in combined revenues of $1.3 billion in 2007. That will grow by 23% to $1.6 billion by 2011.

"Spanish-language broadcast networks have been rapidly growing over the past several years, attracting new advertisers," said Deana Myers of SNL Kagan. "[Meanwhile] English-speaking broadcast networks have struggled during the same time period to generate minor growth in advertising dollars."

Hispanic radio revenues are also set to increase 6% in 2008 to $1.21 billion, outpacing the overall industry's expected growth of 2% to 3%.

Though these percentage increases sound impressive, it should be remembered that they are coming from a small base. Even minute increases in general-population radio and TV ad spending would represent more total dollars than those predicted for Hispanic-targeted TV and radio stations.