According to the numbers presented by AugustaFreePress.com, 45% of the entire spend on influencer marketing in the United States will go to Instagram-based influencers in 2022.
Behind Instagram, YouTube is the second-biggest money-churning social platform in the country.
Marketers to spend $2.2 billion on Instagram-based influencers
US marketers are expected to spend a total of $4.99 billion on influencer advertising in 2022, according to the data available on Statista. A significant chunk of this budget is expected to go to Instagram-based influencers.
Instagram alone is expected to bring $2.23 billion in influencer advertising, making up 44.7% of the entire budget.
YouTube, owned by Google, is the second-biggest platform for influencers in the US. It is expected to bring $948m for influencers this year in the US.
China-based social media app TikTok has been the latest entrant in the market, but it has quickly become really popular among US influencers.
In 2022, TikTok is expected to cross Facebook in the US influencer advertising market. TikTok is expected to bring in $774.8 million in advertising spend.
Facebook’s downward slide in the influencer community continued in 2022. US Marketers are expected to spend $739 on Facebook-based influencers this year.
TikTok to overtake YouTube by 2024 in the US
The Statista data shows that TikTok has increasingly and aggressively become popular among US influencers at the expense of older platforms such as Facebook and YouTube.
TikTok accounted for only 5.4% of US advertising spending on social media influencers in 2020. However, its share is expected to more than triple itself to 18.5% by 2024.
Meanwhile, Facebook’s share of the advertising budget is expected to go down from 19.3% to 13.3% during the same period.
Similarly, YouTube’s share is predicted to go down from 23.7% in 2020 to 17.2% in 2024. One can expect this trend to continue even beyond 2024.
Interestingly, the fight for the number two spot doesn’t have much effect on the leader’s position.
Instagram’s share in the influencer advertising budget is expected to remain almost constant during the period.
Its stronghold among influencers confirms Instagram’s position as the leading platform for influencer advertising for the foreseeable future.