Influencer marketing expenditure in the U.S. 2019-2024

In 2021, approximately four billion U.S. dollars were spent on influencer marketing in the United States. This figure would mark a projected increase of around one more billion, just one year later, in 2022. Further growth is anticipated for the future.

Benefits of influencer marketing

Influencer marketing has become one of the most popular and effective forms of social media marketing. By partnering up with well-known internet personalities, brands can leverage their massive audience reach and promote products and services to a wealth of potential customers. Apart from increasing visibility and driving engagement, influencer cooperation can also boost revenues for companies of all sizes, as recommendations from social media stars have come to impact shopping behavior for millions of online users worldwide. In line with overall spending growth on this channel, the global market size of influencer marketing platforms is also growing by double digits.

What is the most popular platform for influencer marketing?

Influencers bridge the gap between brands and consumers in terms of engagement and interaction, but which platform is best suited for collaboration? According to a recent survey, Instagram remains the most popular platform for influencer marketing worldwide. Content creators have long embraced the app for its various photo- and video-sharing features. Seeing that the platform now also has an inherent shopping tab, it comes as no surprise that marketers are planning to increase influencer endorsement on Instagram in the future. Video-based platforms such as TikTok are also becoming increasingly relevant because of their massive reach, particularly among Gen Z internet users.