Influencer Advertising - Norway | Statista Market Forecast

Ad spending in Norway's Influencer Advertising market is forecasted to reach US$102.70m in 2024.
Ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 7.63%, leading to a projected market volume of US$159.60m by 2030.
The average ad spending per internet user in Norway's Influencer Advertising market is estimated to be US$19.77 in 2024.
In global comparison, the highest ad spending is expected to come from China (US$19.16bn in 2024).
In Norway, Influencer Advertising is increasingly leveraging the country's high social media penetration to reach targeted 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 Norway has experienced significant growth in recent years, driven by changing customer preferences and the rise of social media platforms.

Customer preferences: Norwegian customers have shown a growing interest in influencer advertising, as they value authenticity and trust in their purchasing decisions. Influencers are seen as relatable figures who can provide honest opinions and recommendations, making them influential in shaping consumer behavior. Additionally, the younger generation in Norway is highly active on social media platforms, making influencer advertising an effective way to reach this target audience.

Trends in the market: One of the key trends in the Norwegian influencer advertising market is the shift towards micro-influencers. These are individuals with a smaller but highly engaged following, often in niche areas. Norwegian customers are increasingly looking for more personalized and targeted content, and micro-influencers are able to provide this. Brands are recognizing the value of working with micro-influencers as they can achieve higher levels of engagement and conversion rates compared to macro-influencers. Another trend in the market is the growing use of video content. Norwegian customers are highly receptive to video content, and influencers are leveraging platforms like YouTube and TikTok to create engaging and entertaining videos. Video content allows influencers to showcase products or services in a more dynamic and interactive way, capturing the attention of their audience and driving higher levels of brand awareness and engagement.

Local special circumstances: Norway has a high level of internet penetration and a tech-savvy population, which has contributed to the growth of influencer advertising. The country also has a strong culture of trust and transparency, and customers expect influencers to disclose any sponsored content. This has led to the development of guidelines and regulations for influencer advertising, ensuring that customers are aware of the commercial nature of the content they are consuming.

Underlying macroeconomic factors: The Norwegian economy has been relatively stable in recent years, with a high GDP per capita and a strong welfare system. This has created a favorable environment for consumer spending, with customers having the disposable income to purchase products and services promoted by influencers. Additionally, the growth of the digital economy and e-commerce has provided opportunities for brands and influencers to collaborate and reach a wider audience. In conclusion, the Influencer Advertising market in Norway has experienced growth due to changing customer preferences, including a desire for authenticity and trust in purchasing decisions. The shift towards micro-influencers and the use of video content are key trends in the market. Norway's high internet penetration, trust culture, and stable macroeconomic factors have also contributed to the development of the influencer advertising market in the country.

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.