The online influencer market shows no signs of slowing down anytime soon. According to new findings from influencer marketplace Collabstr, 2023 will be a banner year for the influencer world, but we can now expect an increasing amount of that action to take place on short-form video platform TikTok as opposed to influencer mainstay Instagram.
|Influencer marketing industry size, by year.|
Collabstr’s report found that the influencer marketing sector is expected to grow to $17 billion in 2023, a 14 percent increase from 2022’s $15 billion. Collabstr additionally predicts the influencer segment could reach a size of $22 billion by 2025.
Collabstr reports that TikTok has now surpassed Instagram to become the number-one platform for the influencer marketing sector. The site, which is enormously popular with the GenZ demographic, was the top social media platform for influencer marketing in 2022, where it was home to 45 percent of paid collaborations. Instagram, meanwhile, the original hub for modern-day influencer marketing, now comes in second, accounting for 39 percent of paid collaborations. YouTube accounted for only two percent of paid collaborations in 2022.
Collabstr found that influencers on TikTok also make more money. TikTok influencers charge an average of $460 for advertising deals, compared to Instagram, where the average advertising deal costs $363. The study additionally reported that TikTok influencers make an average of $203 per collaboration, compared to Instagram, where influencers make $183 per collaboration.
However, YouTube influencers change an average price of $791, likely due to the fact that it’s the most time-consuming and labor-intensive platform on which to produce content. According to the study, YouTube influencers make an average of $418 per collaboration.
While more influencer activity has migrated to TikTok recently, Instagram remains the top platform when it comes to being home to the total number of influencers, as 82 percent of all influencers counted in the Collabstr study offer services on that platform, while 61 percent of all influencers offer services via TikTok.
The most popular country for influencer marketing deals is the U.S., where 82 percent of influencer marketing budgets were spent this year, followed by Canada, the UK, Australia and Germany.
Lifestyle remains the most popular niche among influencers, followed by the fashion, beauty and travel sectors.
Collabstr’s 2023 Influencer Marketing Report was based on data culled from 50,000 influencers and 20,000 brands and advertisers on Collabstr’s platform. The study used data from January 1 to November 20, 2022.