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How making money as an influencer has changed in a decade
- According to Forbes, the influencer economy is now valued at $250 billion. The industry's value was estimated to be just $200 million 10 years ago. In the present day, creators can maximize their income with a multi-channel approach. Brands are seeking creators with authenticity and engagement for creator marketing. Follow counts no longer guarantee the ability to secure brand deals. Creators like to leverage multiple income streams, such as brand partnerships, merch and products, subscriptions, and equity deals.
- On platforms like YouTube, creators can earn between $1.61 and $29.30 per 1,000 views, and on Instagram, creators can earn hundreds of thousands or even millions annually from partnerships. Social media followers are trending towards engagement rather than overall following count. Audiences also display a preference for authentic marketing content, as influencers develop the industry further.
- Despite high potential earnings available to content creators, they are often taken advantage of in a rapidly evolving economy. There is a push for content creators to launch brands and companies they designed with their audience in mind. Some marketers are moving back to work with traditional celebrities, making it more important than ever for influencers to stand out. Multiple services and income streams help maximize earnings and monetize influence.
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