Global influencer marketing value 2016-2023

The global influencer marketing market size has more than doubled since 2019. In 2023, the market was estimated at a record 21.1 billion U.S. dollars.

What is influencer marketing?

Influencer marketing is a form of social media marketing that involves product placements and endorsements from online creators. In today’s competitive marketing landscape, brands are collaborating with influencers more firmly than ever, as partnerships with well-known creators can open the door to large potential audiences. In 2021, influencer marketing spending in the United States was forecast to reach an all-time high of 3.7 billion U.S. dollars. Seeing that internet stars can boost brand visibility, drive engagement, and impact purchasing decisions for millions of users, it comes as no surprise that spending on influencer cooperation is expected to pick up even more speed in the future.

Top influencer marketing platforms

Marketers can choose from an ever-expanding list of social media platforms to bridge the gap between brands and consumers. According to a recent survey, Instagram remains the most popular platform for influencer marketing worldwide, and in 2020, the global Instagram influencer market size surpassed two billion dollars for the first time. Apart from the photo-sharing app, video-based platforms such as TikTok are also becoming increasingly popular among marketers. In 2020, the number of TikTok influencers skyrocketed from around 35.5 thousand to over 106 thousand.