Over the years, influencer marketing has grown beyond an ancillary marketing strategy to a $16.4 billion industry. With over 4.5 billion people on social media platforms, more businesses are now collaborating with influencers on spaces like TikTok, YouTube, Instagram, OnlyFans, Twitter, and more to promote their products and services to a wider audience.
According to a Statista report, the influencer ad spending market is expected to reach $30.81bn by the end of this year. It also projects influencer ad spending to grow annually by 11.61% from 2023 – 2027. Based on these figures, the global market volume of this niche is expected to cross the $47bn mark by 2027.
This post will closely examine influencer advertising expenditure and highlight countries that contribute the most to this spending spree. Additionally, we will give you a rundown of countries with the highest social advertising audience by platform. Let’s get started!
China Dominates the Influencer Ad Spending Market
A Statista survey revealed that influencer ad expenditure increased 4x between 2017 and 2023, with the majority of the spending coming from Chinese businesses. OnlyAccouts.io projects that Chinese companies will spend a massive $16.7bn on influencer marketing this year. This figure is 18% higher than what the brands spent in 2022 and 2.8x higher than what US and UK companies are expected to spend this year.
Insights from OnlyAccount.io further showed that the US is the second-largest influencer market. US companies are expected to spend up $5bn on influencers in 2023, 16% more than what they spent in 2022. The United Kingdom ranks third on the list, with a projected $1bn spending in 2023. Like China and the US, influencer ad spending by UK brands is also expected to grow year on year. OnlyAccount.io estimates the annual growth to be about 15.3%.
Countries with the Highest Social Media Advertising Audience by Platform
Have you ever wondered which countries have the highest advertising audience on the social media platforms you use? This section will examine some top media platforms and shed some light on where most of their audience is.
TikTok
A relatively new kid on the block, TikTok has 1.92 billion users, and businesses have started investing heavily in its ads to promote their business. OnlyAccounts.io reported that the USA accounts for the largest advertising audience. The country has over 116 million active users on the platform. Next to the USA is Indonesia, with around 113 million TikTok users. Other countries with huge TikTok advertising audiences are Brazil (84 million users), Mexico (62 million users), and Russia (51 million users).
OnlyFans
Though a new entrant, OnlyFans has emerged as one of the top platforms for marketers looking to promote their businesses to a broader audience. Launched in 2016, the brand has worked hard to become the second most profitable company in the creator economy. According to Statista, users in the United States account for about 400 million monthly visits to the best accounts on OnlyFans. Users in the United Kingdom follow with 50 million visits, while users from Mexico account for 48.6 million visits.
Instagram ranks among the world’s most popular social media platforms. As of January 2023, the platform has about 1.6 billion users. India has the largest Instagram audience in the world, with a total of 229 million active users. The United States follows with 143 million and Brazil with 113 million users. Indonesia, with an 89 million audience, follows, while Turkey, Japan, Mexico, and the United Kingdom ranked fifth, sixth, seventh, and eighth, respectively.
Our breakdown of countries with the highest social media advertising audience won’t be complete without mentioning Facebook, the world’s most used social media platform. India has the largest population of Facebook audience worldwide. As of February 2023, Statista reported that the country has over 315 million Facebook users. Followed by India is the United States, with 175 million users. Other top countries in terms of Facebook user size are Indonesia, Brazil, Mexico, Philippines, and Vietnam, with 120 million, 109 million, 83 million, 80 million, and 66 million users, respectively.
How Many Influencers Do Brands Work with for Their Campaigns
According to the State of Influencer Marketing 2023 report, about 40% of brands and marketers work with up to ten influencers. Around 20% collaborate with 10 – 15 influencers, while 12% work with more than a thousand influencers. Hopper HQ reported that Cristiano Ronaldo was the highest-paid influencer in 2022, earning $2.4 million per sponsored post. Other top earners in the influencer ad market are Kylie Jenner and Lionel Messi, each raking in $1.84 million and $1.78 million per post, respectively.
Wrap Up
The influencer marketing industry has grown by an impressive 330% since 2018, becoming one of the top online marketing channels for brands worldwide. A chunk of the spending in the market comes from Chinese brands, while USA and UK companies ranked second and third, respectively. Statista projects that influencer advertising expenditure will increase year-on-year by 11.61%. So massive opportunities await you in the market, whether you are a business or an influencer.
By Amey MyersAmey, an intrepid traveler and avid blogger, roams the world, absorbing diverse cultures, flavors, and experiences. Her writing captures the essence of her adventures, inspiring others to explore. Amey's infectious passion for travel and storytelling epitomizes a life filled with exploration and adventure.
