303pc growth in mobile video ad spend by advertisers targeting African Americans

FREMONT, USA: Vdopia Inc., a global leader in mobile video and rich media advertising, announced the second installment in the Vdopia Mobile Insights (VMI) Series - VMI Multicultural Marketing Report. Focusing on African Americans and Hispanics, the report takes an in-depth look at the mobile advertising ecosystem, including data related to mobile advertising trends, habits, spending power and more.

The report outlines the importance of multicultural marketing for mobile advertisers, with African Americans and Hispanics overall showing tremendous growth in population and spending power. The report also emphasizes the significance of accounting for these cultural groups' unique attitudes and beliefs when implementing mobile video and rich media campaigns.

Some key data points of the report include:

* 303 percent growth in mobile video and rich media ad spend by advertisers targeting African Americans and 195 percent growth in advertisers targeting Hispanics in the past year on the Vdopia network.

* 60 percent of Hispanics and 43 percent of African Americans use their mobile phone as their primary device for accessing the Internet.

* In 2013, the combined spending power of African Americans and Hispanics was more than $2 trillion in the US.

* 45 percent of Hispanic and 46 percent of African American smartphone users are between the ages of 18 and 34. Only 35 percent of Caucasians fall into this category.

* One-third of Hispanic smartphone owners belong to households with an annual income more than $75,000.

* 56 percent of African American smartphone users are in the South.

* 88 percent of African American and 85 percent of Hispanic smartphone users have bought online in the past six months.

* 34 percent of Hispanic and 32 percent of African American smartphone owners also own a tablet device.