Influencer Marketing Growth: Despite economic uncertainties, influencer marketing spending is expected to rise, with US marketers spending about $5 billion in 2022.
Platform Shares: Instagram leads in influencer marketing spending, but TikTok is quickly gaining ground and is projected to overtake YouTube by 2024.
Video-First Approach: Marketers are encouraged to prioritize video content, especially on TikTok and Instagram Reels.
TikTok’s Impact: TikTok’s growth is significantly boosting influencer marketing spend due to its relatively low campaign costs and high reach potential.