U.S. Influencer Marketing Spend To Hit Around $3.7 Billion This Year, More Than Doubling 2020 Growth Ratehttps://www.tubefilter.com
Influencer marketing spend is predicted to jump 33.6% in the U.S. this year, reaching $3.7 billion, according to analytics firm eMarketer‘s inaugural forecast in the sector.
The projected 33.6% uptick in 2021 is more than double the 14.4% growth that occurred in 2020, per eMarketer, when brands spent $2.76 billion on influencer marketing. The firm largely attributes this year’s growth to the pandemic.
Per eMarketer’s calculations, Instagram comprises roughly one-half of the influencer marketing market, followed by YouTube and Facebook, and then TikTok (which it notes is small but growing quickly). And while influencer spend is expected to exceed $4 billion next year, eMarketer notes that it’s still pennies compared to the $58.7 billion that companies spend on social network advertising in the U.S.