Study ranks TikTok the most popular channel for influencer marketing
The data was sourced from 50,000 influencers and 20,000 brands and advertisers on Collabstr
Social media platform, TikTok has become the most popular social media platform for influencer marketing, with 45% of paid collaborations taking place on the short-form video app.
This is according to a new report by influencer marketplace, Collabstr. The data was sourced from 50,000 influencers and 20,000 brands and advertisers on its platform.
Collabstr’s data placed Instagram second with 39% of paid collaborations. 14% of its paid collaborations were not specific to any particular platform but revolved around user-generated content (UGC) where influencers created content for money.
YouTube was ranked last with only 2% of paid collaborations in 2022.
Collabstr's data reveals Instagram is still the most preferred social media because 82% of influencers offer content creation services on their accounts.
Going further, it said brands spent the least $183 in 2022 on Instagram influencers per collaboration, on an average. This includes the blended pricing of Instagram story posts, static feed posts, and reels posts.
TikTok was ranked the second-cheapest, with TikTok influencers making $203 per collaboration.
UGC creators were said to make $227 per collaboration, with brands paying extra to purchase exclusive rights to their content while YouTube influencers made on average $418 per collaboration, due to longevity of their content.
The influencer market is expected to grow to $17.4 billion in 2023, showing more than a 14% increase from 2022. By 2025, the market size could be worth $22.2 billion.
“It is also possible that the influencer marketing market grows at a quicker rate than forecasted if external forces push advertisers into spending more on influencer marketing over the next few years,” the report was quoted to have said.