The influencer market is predicted to reach a size of $17.4 billion by the end of 2023, representing a 14.47% increase from 2022. The report also reveals that the average initial spend on an influencer is $257, with 46% of paid influencer collaborations taking place on TikTok in 2022.

Collabstr, a leading influencer marketplace, has released its 2023 Influencer Marketing Report: Influencer Marketing Statistics, Trends, and Predictions with the purpose of sharing the most notable trends and statistics in the creator economy heading into 2023.

The report projects that influencer marketing will be a $17.4 billion market by the end of 2023, up 14.47% from $15.2 billion in 2022. Collabstr’s annual report uses first-party data from over 20,000 advertisers and 50,000 influencers to provide unique insights into the reasons for this rapid growth and the industry’s outlook going into 2023.

Marketing Technology News: MarTech Interview With Richard Jones, Chief Revenue Officer at Wunderkind

Among other things, the report covers:

• Influencer marketing spend and distribution amongst TikTok, Instagram, YouTube, and UGC
• Gender distribution among influencers and content creators
• How much influencers and creators are making on various platforms
• Global distribution of influencer marketing budgets
• Future trends in influencer marketing

Collabstr aims to exceed the detail and data quality of any other influencer marketing reports on the market. The data was extracted from brands, advertisers, and creators that interacted with one another on the Collabstr marketplace. Coming across such a report with first-party data is few and far between, but thanks to its large dataset, Collabstr managed to spot particularly niche trends sooner.

According to the report, the average initial spend on an influencer is $257, with 46% of paid influencer collaborations in 2022 taking place on TikTok. Moreover, 26% of creators offer user-generated content services, nearly double the amount in 2021. The report reveals the most popular social media platforms amongst influencers and marketers, along with trends that help marketers maximize their time and money when it comes to working with influencers.

“This year, brands and advertisers performed millions of searches and placed thousands of orders on the marketplace, we’re able to look at what kind of creators are in-demand, and what kind of strategies are being deployed in real-time” says Kyle Dulay, co-founder of Collabstr. “We’re able to analyze spending patterns and behavior patterns to see how the market is evolving, and every year we throw that data into a report.

Marketing Technology News: The Benefits of PR in Modern Day Marketing