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Instagram leads influencer marketing, even as marketers spread budgets across social channels

For more insights and key statistics on the biggest trends in today’s most disruptive industries, subscribe to our Chart of the Day newsletter.

Key stat: US Influencer marketing spending will pass $2 billion on Instagram in 2024, while spending on TikTok, YouTube, and Facebook will each pass $1 billion, per our forecast.

Beyond the chart:

  • While Instagram leads the way in spending, with nearly twice as much going to the platform than even TikTok, advertisers are also spreading their budgets across other social media platforms. Influencer marketing spending is growing faster than paid social ad spending in the US, according to our forecast. Even as users pull back on posting, they’re still consuming creator content.
  • Despite a slowdown in paid social spending growth, creators will play an increasing role in driving social ad investments—90% of influencer marketing campaigns include paid media, per The Influencer Marketing Factory. Around 65% of US marketers dedicated at least half of their influencer marketing budgets to paid media this year, per Linqia.

Use this chart:

  • See which channels matter most to influencer marketers.
  • Identify a pattern of growth in influencer marketing spending.

More like this:

More Chart of the Day:

Note: An influencer is an individual who can sway the brand preferences, buying decisions, and loyalty of a broader population, regardless of follower count. Examples include celebrities, public figures, YouTube/Instagram/TikTok creators, and subject matter thought leaders/experts.

Methodology: Estimates are based on the analysis of estimates from other research firms, consumer media consumption, company reports, and device adoption trends.