A report focusing on African American and Hispanic demographics found the "importance" of multicultural marketing by mobile advertisers.

Based on mobile advertising trends, habits, spending power, and more, Vdopia Inc. reported the "tremendous growth" in population and spending by Hispanics and African Americans.

Vdopia Inc., touted to be a leader in the mobile video and rich media advertising, also noted the important role the two cultural groups play in the mobile business. The report, titled "VMI Multicultural Marketing Report," revealed a 303 percent growth in mobile video and rich media advertisement spent by advertisers towards African Americans. Advertising targeting Hispanics grew by 195 percent during 2013 on Vdopia's network.

Citing September's Pew Internet and American Life Project, the "VMI Multicultural Marketing Report" highlighted 60 percent of Hispanics used their mobile phone as the main source of accessing the Internet. In comparison, African Americans were 17 percentage points down at 43 percent.

Together, based on the Selig Center for Economic Growth during 2013, African Americans and Hispanics totaled for more than $2 trillion in the United States (U.S.).

Age demographics were also taken into account when noting smartphone users. Hispanics between the ages of 18 and 24 accounted for 45 percent of smartphone users while African Americans ticked one percentage point higher with 46 percent. In comparison to Caucasians of the same age group, they represented only 35 percent of smartphone users.

The report further disclosed one third of Hispanic smartphone owners, per data by comScore Mobilens released in September 2013, were part of a household with an annual income of more than $75,000.

"For marketers looking to reach multicultural audiences, the VMI Multicultural Marketing Report provides tremendous insight into how African Americans and Hispanics have embraced smartphone and tablet devices," said Vdopia Inc. Founder and Chief Business Officer Saurabh Bhatia."Diverse consumers often have unique perspectives, allowing marketers to customize campaigns specific to these distinctive ideas and values."

Hispanics were also Internet savvy as 85 percent have purchased an item online during the last six months. African Americans fared slightly better with 88 percent.

African Americans and Hispanics are not just smartphone dependent but have also utilized tablets. The Vdopia report stated 32 percent of African American smartphone owners also own a tablet device, but Hispanics ranked slightly better at 34 percent.

Mobile advertisers targeting African Americans and Hispanics are expected to growth substantially as both populations are expected to grow by 10 percent and 24 percent respectively by 2025 based on the U.S. Census Bureau.

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