eMarketer – a market-research firm, has released data about influencer earnings. The report says that influencer earnings from social media are expected to grow by 16.5% in 2024, reaching $13.7 billion.
Affiliate marketing, where influencers earn commissions through trackable links or specific codes used by their followers to make purchases, is becoming more popular. It’s projected to bring in over $1 billion for creators in 2024, marking a 22.6% increase from the previous year.
Influencer Earnings Set To Rise In 2024
Platforms like LTK and Amazon have traditionally been used by influencers to host their affiliate links, but TikTok Shop, launched in the US last year, is pushing this growth further. TikTok, along with Instagram and YouTube, is heavily promoting affiliate marketing.
Influencer Earnings Set To Rise In 2024
Instagram and YouTube are also improving their affiliate marketing programs. Affiliate marketing is seen as an inclusive way for creators, including those of color who may face challenges in securing brand deals, to earn money.
Influencer Earnings Set To Rise In 2024
YouTube continues to be a dominant platform for influencer earnings, with direct platform payouts to creators predicted to rise by 10% to $3.2 billion this year. The platform’s investment in influencer marketing has surged, especially for its shorts format, which saw a 700% increase in spending in 2023.
Influencer Earnings Set To Rise In 2024
The demand for longer videos is one reason why YouTube is expected to be the most lucrative platform for creators in 2024. Platforms like TikTok are also supporting creators with initiatives that compensate them for creating longer content.
Influencer Earnings Set To Rise In 2024
Despite this, direct monetization efforts like platform payouts are still challenging for many creators, especially with the prevalence of ads in short-form videos, which are less directly tied to creator income.
Influencer Earnings Set To Rise In 2024
In addition to brand deals and affiliate marketing, influencers have other revenue streams such as…
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