Collabstr, an influencer marketing platform, released its annual report examining trends in the industry. The report provides insights across the creator economy based on data from 35,000 brands and 80,000 influencers. Here are six key findings:
Market Growth Projections
The report projects the influencer marketing market reaching $19.8 billion in 2024, up 13.7% from 2023’s $17.4 billion. Overall, the market is forecast to triple in size between 2020 and 2025, outpacing growth in social ad spending.
User-Generated Content Surging
The creator economy is witnessing a surge in opportunities, with the number of creators offering paid user-generated content (UGC) services skyrocketing by 93% year-over-year in 2023.
UGC, which accounted for 14% of paid collaborations on Collabstr last year, is predicted to drive the UGC market from $4.7 billion in 2022 to $71.3 billion by 2032, reflecting a 31.6% annual growth rate.
Creator Economy Expanding
The global creator economy, where influencers produce content, is projected to grow from $127.65 billion in 2023 to $528.39 billion by 2030, a 22.5% compound annual growth rate. According to the report, Income streams like fan donations and exclusive subscriptions are driving this expansion.
Platforms Lead in Paid Services
Per the analysis, Instagram took the lead, with 49% of influencers offering paid services on the platform in 2023, followed by TikTok at 24% and UGC at 23%. YouTube remained lower, with 4% of paid service offerings.
Gender Distribution Evolves
While female creators still dominate at 70% market share, the percentage of male influencers grew from 23% in 2022 to 30% in 2023 across Collabstr’s platform. Gender distribution tends to even out as creators gain larger followings, analysts believe.
The top five highest-earning creators on Collabstr in 2023 were Anna Munoz (make-up), Paris Mctizic (actor), Patric Micha (crypto), Med Explained 2 You (healthcare), and Samuel Malki (comedy).
Emerging Trends Highlighted
Collabstr examined emerging trends, such as the rise of AI influencers, an emphasis on authenticity from micro-influencers, shoppable content, and brands leveraging “trendjacking” to align with cultural events. Read the full report here.
David Adler is an entrepreneur and freelance blog post writer who enjoys writing about business, entrepreneurship, travel and the influencer marketing space.
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Collabstr, an influencer marketing platform, released its annual report examining trends in the industry. The report provides insights across the creator economy based on data from 35,000 brands and 80,000 influencers. Here are six key findings:
Market Growth Projections
The report projects the influencer marketing market reaching $19.8 billion in 2024, up 13.7% from 2023’s $17.4 billion. Overall, the market is forecast to triple in size between 2020 and 2025, outpacing growth in social ad spending.
User-Generated Content Surging
The creator economy is witnessing a surge in opportunities, with the number of creators offering paid user-generated content (UGC) services skyrocketing by 93% year-over-year in 2023.
UGC, which accounted for 14% of paid collaborations on Collabstr last year, is predicted to drive the UGC market from $4.7 billion in 2022 to $71.3 billion by 2032, reflecting a 31.6% annual growth rate.
Creator Economy Expanding
The global creator economy, where influencers produce content, is projected to grow from $127.65 billion in 2023 to $528.39 billion by 2030, a 22.5% compound annual growth rate. According to the report, Income streams like fan donations and exclusive subscriptions are driving this expansion.
Platforms Lead in Paid Services
Per the analysis, Instagram took the lead, with 49% of influencers offering paid services on the platform in 2023, followed by TikTok at 24% and UGC at 23%. YouTube remained lower, with 4% of paid service offerings.
Gender Distribution Evolves
While female creators still dominate at 70% market share, the percentage of male influencers grew from 23% in 2022 to 30% in 2023 across Collabstr’s platform. Gender distribution tends to even out as creators gain larger followings, analysts believe.
The top five highest-earning creators on Collabstr in 2023 were Anna Munoz (make-up), Paris Mctizic (actor), Patric Micha (crypto), Med Explained 2 You (healthcare), and Samuel Malki (comedy).
Emerging Trends Highlighted
Collabstr examined emerging trends, such as the rise of AI influencers, an emphasis on authenticity from micro-influencers, shoppable content, and brands leveraging “trendjacking” to align with cultural events. Read the full report here.