Market Insights Advertising & Media Advertising

Influencer Advertising - Lithuania

Lithuania

Ad spending in the Influencer Advertising market in Lithuania is projected to reach US$8.93m in 2024.
The country's ad spending is expected to show an annual growth rate (CAGR 2024-2029) of 7.48%, resulting in a projected market volume of US$12.81m by 2029.
The average ad spending per internet user in the Influencer Advertising market in Lithuania is projected to amount to US$3.88 in 2024.
In global comparison, most ad spending will be generated China (US$19,160.00m in 2024).
In Lithuania, Influencer Advertising is rapidly gaining traction among brands seeking to engage with niche audiences in a personalized and authentic manner.

Key regions: Australia, Germany, France, Europe, United States

Market

Region

Region comparison

Currency

Analyst Opinion

The Influencer Advertising market in Lithuania is experiencing significant growth and development in recent years.

Customer preferences: Lithuanian customers have shown a growing interest in influencer advertising as a way to discover and engage with new products and services. Influencers are seen as trustworthy and relatable figures, and their endorsements carry a lot of weight with consumers. As a result, more and more brands are turning to influencer advertising to reach their target audience and increase brand awareness.

Trends in the market: One of the key trends in the influencer advertising market in Lithuania is the rise of micro-influencers. These are individuals with smaller but highly engaged followings, often in niche areas. Brands are recognizing the value of working with micro-influencers who have a dedicated and loyal audience that is more likely to trust and act upon their recommendations. Another trend in the market is the increasing use of video content. With the popularity of platforms like YouTube and Instagram Stories, influencers are creating more video-based content to engage their audience. This shift towards video content presents new opportunities for brands to collaborate with influencers and create engaging and authentic promotional content.

Local special circumstances: Lithuania has a relatively small population compared to other European countries, which means that the influencer advertising market is still developing and has plenty of room for growth. This presents an opportunity for brands to establish themselves in the market and build long-term relationships with influencers. Furthermore, Lithuania has a strong digital infrastructure, with a high internet penetration rate and a tech-savvy population. This makes it easier for brands to reach their target audience through influencer advertising and for influencers to create and distribute content.

Underlying macroeconomic factors: The growth of the influencer advertising market in Lithuania is also influenced by macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in consumer spending. This provides brands with more resources to invest in influencer advertising and reach a larger audience. Additionally, Lithuania is part of the European Union, which means that it benefits from the free movement of goods and services within the EU. This allows brands to easily collaborate with influencers from other EU countries and expand their reach beyond the Lithuanian market. In conclusion, the Influencer Advertising market in Lithuania is developing rapidly due to customer preferences for authentic and relatable content, the rise of micro-influencers and video-based content, as well as local special circumstances such as a small but tech-savvy population. The underlying macroeconomic factors of steady economic growth and EU membership also contribute to the growth of the market.

Methodology

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.