Influencer marketing spending in the U.S. is expected to reach $4.6 billion in 2023, double where it was just five years ago, and 68% of brands expect to increase their budget in this area. Influencers themselves are commanding higher premiums — 70% have increased their rates in the past 12 months as audiences and engagement rates have grown — but 83% are still willing to work for free products as long as terms are fair and they love the brand.
In terms of content, Instagram will remain the most popular platform, with 87% of marketers and 90% of creators planning to increase their presence in the coming year. However, the rising importance of video content means that YouTube and TikTok also will be important, and 94% of brands plan to increase investment in video in 2023.
For more about the hottest influence trends in 2023, check out this infographic from Aspire.