Influencer Advertising - Nordics | Statista Market Forecast

Ad spending in the Influencer Advertising market in Nordics is expected to reach US$396.80m in 2024.
The market is projected to show an annual growth rate (CAGR 2024-2030) of 7.64%, leading to a market volume of US$617.30m by 2030.
The average ad spending per internet user in the Influencer Advertising market in Nordics is projected to be US$15.45 in 2024.
When compared globally, China is expected to generate the highest ad spending in 2024, reaching US$19.16bn.
In the Nordics, Influencer Advertising is rapidly growing as brands leverage local influencers to tap into the region's high digital engagement rates.

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 Nordics has been experiencing significant growth in recent years, driven by the increasing popularity of social media platforms and the growing influence of online personalities. Customer preferences in the Nordics have shifted towards more authentic and personalized content, leading to a rise in demand for influencer advertising. Consumers in the region are becoming more skeptical of traditional advertising methods and are seeking out recommendations from trusted individuals. Influencers, with their large and engaged followings, have become a trusted source of information and recommendations for many consumers in the Nordics. One of the key trends in the Influencer Advertising market in the Nordics is the rise of micro-influencers. These are influencers with smaller but highly engaged followings, typically in niche areas. Brands are increasingly turning to micro-influencers to reach specific target audiences and to create more authentic and relatable content. This trend is driven by the desire for more personalized and genuine recommendations, as well as the need for cost-effective advertising solutions. Another trend in the market is the growing importance of video content. Video platforms such as YouTube and Instagram Stories have gained immense popularity in the Nordics, and influencers are leveraging these platforms to create engaging and visually appealing content. Brands are recognizing the power of video in capturing the attention of consumers and are partnering with influencers to create compelling video campaigns. In addition to customer preferences and global trends, there are also local special circumstances that are shaping the Influencer Advertising market in the Nordics. The region has a high internet penetration rate and a tech-savvy population, making it an ideal market for influencer marketing. Furthermore, the Nordics have a strong culture of trust and transparency, which aligns well with the principles of influencer advertising. Consumers in the region value authenticity and honesty, and influencers who are transparent about their partnerships and endorsements are more likely to gain trust and credibility. Underlying macroeconomic factors also play a role in the development of the Influencer Advertising market in the Nordics. The region has a strong economy and a high standard of living, which allows consumers to have disposable income to spend on products and services recommended by influencers. Additionally, the Nordics have a high level of digital infrastructure and a well-developed e-commerce sector, making it easy for consumers to make purchases based on influencer recommendations. Overall, the Influencer Advertising market in the Nordics is experiencing growth due to customer preferences for authentic and personalized content, as well as the rise of micro-influencers and the importance of video content. Local special circumstances, such as the region's tech-savvy population and culture of trust and transparency, further contribute to the development of the market. Additionally, underlying macroeconomic factors, including a strong economy and a high level of digital infrastructure, support the growth of influencer advertising in the Nordics.

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.