Influencer Advertising - NAFTA | Statista Market Forecast

Ad spending in the Influencer Advertising market of NAFTA is forecasted to reach US$6.51bn in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 9.13%, leading to a projected market volume of US$10.99bn by 2030.
The average ad spending per internet user in the Influencer Advertising market is expected to be US$13.92 in 2024.
When compared globally, China is set to generate the most ad spending, reaching US$19.16bn in 2024.
Influencer Advertising in the NAFTA region is experiencing a surge in demand, with brands leveraging influencers to reach diverse audiences across the US, Canada, and Mexico.

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 NAFTA is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences have shifted towards more personalized and authentic content, leading to the rise of influencer advertising. Consumers are increasingly seeking recommendations and endorsements from influencers they trust, rather than traditional advertising methods. This shift in preferences has created a demand for influencer advertising across various industries and sectors. Trends in the market show that influencer advertising is becoming more targeted and niche-focused. Brands are partnering with influencers who have a specific audience demographic or niche interest, in order to reach a more engaged and receptive audience. This trend is driven by the desire to create more authentic and relatable content that resonates with consumers. Another trend in the market is the rise of micro-influencers. These are influencers with smaller followings but highly engaged audiences. Brands are recognizing the value of working with micro-influencers as they often have a more dedicated and loyal fan base. This trend is also driven by the desire to create more authentic and relatable content, as micro-influencers are seen as more genuine and trustworthy by their followers. Local special circumstances in the NAFTA region also contribute to the development of the influencer advertising market. The region is home to a large number of social media-savvy consumers who are active on platforms such as Instagram, YouTube, and TikTok. This high level of social media usage provides a fertile ground for influencer advertising to thrive. Additionally, the NAFTA region has a diverse and multicultural population, which creates opportunities for brands to target specific ethnic or cultural groups through influencer advertising. Brands can partner with influencers who have a strong presence within these communities, allowing them to connect with consumers on a deeper level. Underlying macroeconomic factors such as the growth of e-commerce and the increasing digitalization of businesses also contribute to the development of the influencer advertising market. As more consumers shop online and spend time on digital platforms, brands are shifting their advertising budgets towards influencer marketing to reach their target audience effectively. In conclusion, the Influencer Advertising market in NAFTA is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards personalized and authentic content, the rise of targeted and niche-focused influencer partnerships, the emergence of micro-influencers, the high level of social media usage, the diverse population, and the growth of e-commerce and digitalization all 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.