Influencer marketing spending in the US is set to grow more than 12% this year and surpass the $4 billion mark. By the end of 2023, spending on brand-influencer partnerships will be nearly double its 2019 level. 

Influencer marketing spend reached new heights in 2021 when the category grew a record 33.6%, up significantly compared to the year prior, when the pandemic put a strain on marketing budgets.

“In the early part of the pandemic, many marketers temporarily paused their influencer marketing campaigns,” said Jasmine Enberg, eMarketer senior analyst at Insider Intelligence. “But as the pandemic also accelerated many new creator-driven social trends, including short video and social commerce, marketers quickly resumed and are now increasing their spending on influencer marketing, as they realize that influencers are their ticket to reach those audiences.”

Social platforms used for influencer marketing
More US marketers now use TikTok than YouTube for influencer marketing, but TikTok still sees significantly lower usage than Instagram.

This year, according to research from Aspire, some 91% of US brands that use influencer marketing will invest more in video. Not only do US consumers spend more time watching creator videos over brand videos, but they’re also more likely to actively engage with creator videos than brand videos. Video remains an increasingly essential component of the marketing playbook, which is why influencer spending on YouTube, Instagram, and TikTok is growing. 

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Even though Instagram will remain the largest influencer platform overall, TikTok is expected to overtake Instagram Reels in 2022. The meteoric rise of TikTok also means it’s closing the advertiser spending gap with YouTube, a platform that has yet to keep up with the short-form video trend.

Not only is TikTok the platform of choice for short-form video, but it’s also evolving to innovate with shoppable livestreaming. It’s taking the lead from parent company ByteDance’s home country of China, where livestreaming is already a common activity among creators, brands, and ordinary social media users. We don’t expect going live to be a mainstream practice for US creators this year, however, the more TikTok develops its live shopping offerings, the more creators and brands will lean into the format.