Influencer Advertising - Chile | Statista Market Forecast

In Chile, ad spending in the Influencer Advertising market is forecasted to reach US$56.08m in 2024.
The market is expected to demonstrate an annual growth rate (CAGR 2024-2030) of 8.22%, leading to a projected market volume of US$90.09m by 2030.
The projected average ad spending per internet user in the Influencer Advertising market is US$3.08 in 2024.
When compared globally, China is anticipated to lead in ad spending, reaching US$19.16bn in 2024.
In Chile, Influencer Advertising is rapidly gaining traction, with brands leveraging local influencers to tap into the country's diverse consumer market.

Definition:
Influencer Advertising refers to advertising that allows marketers to promote products or services by collaborating with influencers on social media. Influencer Advertising allows marketers to reach targeted audiences based on the influencer’s performance and their follower profiles; they also have the ability to measure the performance of campaigns. Influencer Advertising refers to all advertising fees paid directly to influencers (or to their person of trust or representative) for posting or streaming sponsored content (e.g., posts, videos, and/or stories) on social media to promote products or services to their followers. This sponsored content typically includes images, videos, live streams, and/or text.

Additional information:
Influencer Advertising comprises advertising spending, users, and average revenue per user. The market only displays B2B spending. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. For more information on the data displayed, use the info button right next to the boxes.

Advertising spending paid directly to influencers to post sponsored content

The values of giveaway products as well as services that influencers receive in exchange for reviews, mentions, or giveaways for their followers
Advertising spending allocated to paid social media campaigns to boost content
Affiliate commissions, i.e., the commissions that are paid to influencers when someone makes a purchase based on their content or links
Gross merchandise volume (GMV) of transactions from sponsored posts or live streams

The Influencer Advertising market in Chile has been experiencing significant growth in recent years. This can be attributed to several factors, including changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Chile have shifted towards more personalized and authentic advertising. Consumers are becoming increasingly skeptical of traditional forms of advertising and are seeking recommendations from trusted sources. Influencer advertising provides a unique opportunity for brands to connect with their target audience through relatable and trusted individuals. This has led to a surge in demand for influencer advertising in Chile. Trends in the market have also contributed to the growth of the Influencer Advertising market in Chile. Social media platforms such as Instagram, YouTube, and TikTok have gained immense popularity among Chilean consumers. These platforms have become a breeding ground for influencers who have amassed large followings and have the ability to sway consumer opinions. Brands have recognized the power of these influencers and are leveraging their reach to promote their products and services. Local special circumstances in Chile have further fueled the growth of the Influencer Advertising market. Chile has a high internet penetration rate, with a large percentage of the population actively using social media platforms. This provides a fertile ground for influencer marketing to thrive. Additionally, Chilean consumers are known to be early adopters of new trends and technologies, making them receptive to influencer advertising. Underlying macroeconomic factors have also played a role in the development of the Influencer Advertising market in Chile. The country has experienced steady economic growth in recent years, leading to an increase in disposable income. This has resulted in higher consumer spending and a greater demand for products and services. Brands are turning to influencer advertising as a way to tap into this growing consumer base and drive sales. In conclusion, the Influencer Advertising market in Chile is experiencing rapid growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As consumers continue to seek personalized and authentic advertising, influencer marketing is expected to thrive in Chile. Brands that recognize the power of influencers and adapt their marketing strategies accordingly are likely to reap the benefits of this growing market.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on influencer advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising fees paid directly to influencers to post sponsored content.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use market data from independent databases, influencer marketing platforms, and third-party reports to analyze and estimate global influencer advertising spending. We start by researching on the average cost per content post on each social media platform, the number of influencers available on advertising platforms (breakdown by tier: nano, micro, macro, and mega), and the average number of posts per year. Then we estimate the market size for each country individually. We use relevant key market indicators and data from country-specific industry associations, such as GDP, social media users, and digital consumer spending. Lastly, we benchmark key countries or regions (global, United States, China, etc.) with external sources.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Influencer marketing has become one of the most popular and effective forms of online marketing. With millions of internet users browsing social media platforms for entertainment, inspiration, and product recommendations daily, it is no surprise that marketers are harnessing the power of social media’s most recognizable faces for promotion. The global influencer marketing market value stood at 21.1 billion U.S. dollars as of 2023, having more than tripled since 2019. As influencer endorsement continues to mature as an industry, the size and value of influencer marketing platforms also continue to expand every year, making collaborations between brands and creators more profitable than ever.