Influencer Advertising - 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 2024-2030) of 7.16%, resulting in a projected market volume of US$13.52m by 2030.
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$19.16bn in 2024).
In Lithuania, Influencer Advertising is rapidly gaining traction among brands seeking to engage with niche audiences in a personalized and authentic manner.

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 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.

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.