Influencer Advertising - Dominican Republic

Ad spending in the Influencer Advertising market in the Dominican Republic is forecasted to reach US$16.11m in 2024.
The expected annual growth rate (CAGR 2024-2030) for ad spending is 10.08%, leading to a projected market volume of US$28.66m by 2030.
The average ad spending per internet user in the Influencer Advertising market is projected to be US$1.47 in 2024.
When compared globally, China is anticipated to have the highest ad spending with US$19.16bn in 2024.
In the Dominican Republic, Influencer Advertising is rapidly gaining traction, with brands increasingly leveraging local influencers to reach their target audience effectively.

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 Dominican Republic is experiencing significant growth and development.

Customer preferences: Influencer advertising has become increasingly popular among consumers in Dominican Republic. Customers are drawn to the authentic and relatable content that influencers provide, as well as the personal connection they feel with these individuals. Influencers are seen as trusted sources of information and recommendations, and their endorsements can greatly influence purchasing decisions. Additionally, customers appreciate the creativity and entertainment value that influencers bring to their content, making it more engaging and memorable.

Trends in the market: One of the key trends in the Influencer Advertising market in Dominican Republic is the rise of micro-influencers. These are individuals with smaller follower counts but highly engaged audiences. Brands are recognizing the value of working with micro-influencers who have a niche focus and can reach a specific target market. This trend is driven by the desire for more authentic and genuine connections between influencers and their followers. Additionally, there is a growing emphasis on diversity and inclusivity in influencer marketing, with brands seeking out influencers from different backgrounds and communities to better represent their customer base.

Local special circumstances: Dominican Republic has a vibrant social media landscape, with a high percentage of the population active on platforms such as Instagram, Facebook, and YouTube. This provides a fertile ground for influencer marketing to thrive. Additionally, Dominican Republic is known for its strong music and entertainment industry, which has given rise to a new breed of influencers who specialize in these areas. These influencers have a significant impact on consumer behavior, particularly among younger demographics.

Underlying macroeconomic factors: The growing middle class in Dominican Republic has contributed to the development of the Influencer Advertising market. As disposable incomes rise, consumers are increasingly looking for aspirational lifestyles and products, which influencers can provide. Furthermore, the increasing penetration of smartphones and internet access has made it easier for consumers to engage with influencers and consume their content. This has created a favorable environment for influencer marketing to flourish. In conclusion, the Influencer Advertising market in Dominican Republic is experiencing growth and development due to customer preferences for authentic and relatable content, the rise of micro-influencers, the vibrant social media landscape, and the underlying macroeconomic factors such as the growing middle class and increased smartphone penetration. As the market continues to evolve, it is expected that influencer advertising will play an even larger role in shaping consumer behavior and brand preferences in Dominican Republic.

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.