Influencer Advertising - Finland | Statista Market Forecast

In Finland, the ad spending within the Influencer Advertising market is forecasted to reach US$39.32m by 2024.
The market is anticipated to experience a 7.66% annual growth rate (CAGR 2024-2030), leading to a projected market volume of US$61.22m by 2030.
The average ad spending per internet user in the Influencer Advertising market is expected to be US$7.79 in 2024.
When compared globally, China is projected to lead in ad spending, reaching US$19.16bn in 2024.
In Finland, Influencer Advertising is increasingly leveraging the country's high digital penetration rates to reach niche audiences 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 Finland is experiencing significant growth and development.

Customer preferences: In Finland, customers have shown a strong preference for influencer advertising as a means of discovering new products and services. Influencers are seen as trustworthy and relatable figures, and their recommendations carry a lot of weight with consumers. Additionally, Finnish customers appreciate the authenticity that influencers bring to their content, as they often showcase real-life experiences and provide honest reviews. This has led to an increase in the demand for influencer advertising in the country.

Trends in the market: One of the key trends in the Influencer Advertising market in Finland is the rise of micro-influencers. These are individuals with smaller but highly engaged followings, typically within a specific niche. Finnish brands have recognized the value of working with micro-influencers, as they are able to reach a highly targeted audience and generate more meaningful interactions. This trend has led to a shift towards more personalized and niche-focused influencer campaigns in Finland. Another trend in the market is the growing use of video content. Finnish consumers have shown a preference for video-based content, and influencers have adapted by creating more video content to engage their audience. This has led to an increase in collaborations between brands and influencers on platforms such as YouTube and Instagram Stories, where video content is highly popular. Brands are leveraging the power of video to showcase their products and services in a more dynamic and engaging way.

Local special circumstances: Finland has a highly digital-savvy population, with a high internet penetration rate and a strong social media presence. This has created a favorable environment for influencer advertising to thrive. Finnish consumers are active on social media platforms and are receptive to influencer recommendations. Additionally, Finland has a strong culture of trust and authenticity, which aligns well with the values of influencer advertising.

Underlying macroeconomic factors: The growth of the Influencer Advertising market in Finland can also be attributed to the overall growth of the digital advertising industry in the country. As more brands allocate their marketing budgets to digital channels, influencer advertising has emerged as a cost-effective and impactful strategy. Additionally, the rise of e-commerce in Finland has created new opportunities for influencer advertising, as influencers can drive traffic and sales to online stores. In conclusion, the Influencer Advertising market in Finland is experiencing growth and development due to customer preferences for authenticity and trust, the rise of micro-influencers and video content, the digital-savvy population, and the overall growth of the digital advertising industry. These factors have created a favorable environment for influencer advertising to thrive in Finland.

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.