Listen carefully and you can hear the sound of traditional ad dollars shifting to new digital media channels, including Influencer Marketing. Influencer ad numbers have been picking up steam for the past five years and, amid this year’s nationwide shutdown, the numbers are only accelerating. Consider this from FinancialNewsMedia.com:
“In 2018, a report from Statista said that the popularity of influencer marketing on Instagram is increasing at such a fast pace that the global market is expected to grow from 1.3 billion U.S. dollars in 2018 to nearly twice that amount by 2020. At the same time, the number of brand-sponsored influencer posts on the social media platform is also expected to double, surpassing six billion in 2020. A subsequent Statista report raised the projections, saying that global spending on Instagram influencer marketing reached 5.67 billion U.S dollars and projected that the figure will further grow to 8.08 billion by the end of 2020.”
Let’s frame those projections another way. 20-year-old Addison Rae Easterling, currently the highest-paid influencer on TikTok, made $5 million this year, outearning 39 Fortune 500 CEOs. 16-year-old Charli D’Amelio, currently in second at $4 million, just surpassed 100 million followers. Charli’s big sister Dixie rounded out the bottom three at $2.9 million. Not for running one of the world’s largest corporations with thousands of employees, or inventing the next great thing. These young women built a following making :60 videos of themselves dancing, lip-synching to popular songs, and acting flirty, silly, and trendy.