Influencer Advertising - Serbia | Statista Market Forecast

Ad spending in the Influencer Advertising market in Serbia is forecasted to reach US$8.50m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 6.71%, leading to an estimated market volume of US$12.55m by 2030.
The average ad spending per internet user in the Influencer Advertising market is projected to be US$1.44 in 2024.
When compared globally, the highest ad spending is expected to originate from China (US$19.16bn in 2024).
In Serbia, Influencer Advertising is gaining traction as brands seek authentic connections with consumers through local social media personalities.

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 Serbia is experiencing significant growth and development.

Customer preferences: In recent years, there has been a shift in customer preferences towards more personalized and authentic marketing. Consumers are becoming increasingly skeptical of traditional advertising methods and are seeking recommendations and endorsements from trusted sources. This has led to the rise of influencer advertising, where brands collaborate with popular social media personalities to promote their products or services. Influencers are seen as relatable and trustworthy figures, and their recommendations are valued by their followers. As a result, many brands in Serbia are turning to influencer advertising as a way to reach their target audience in a more effective and engaging manner.

Trends in the market: One of the key trends in the influencer advertising market in Serbia is the growing popularity of micro-influencers. These are individuals who have a smaller but highly engaged following on social media. Unlike macro-influencers who have millions of followers, micro-influencers have a more niche audience and are often seen as more authentic and genuine. Brands are increasingly collaborating with micro-influencers in Serbia to tap into their loyal and dedicated fan base. This trend is driven by the desire to reach a more targeted audience and to create a more personalized connection with consumers. Another trend in the market is the diversification of platforms used for influencer advertising. While Instagram remains the most popular platform for influencer marketing, other platforms such as YouTube and TikTok are also gaining traction in Serbia. Brands are recognizing the potential of these platforms to reach a wider audience and are investing in influencer partnerships on these platforms. Additionally, the rise of live streaming and video content has opened up new opportunities for influencer advertising in Serbia, as brands seek to leverage the popularity and engagement of these formats.

Local special circumstances: One of the factors driving the growth of influencer advertising in Serbia is the increasing internet penetration and social media usage. Serbia has a high internet penetration rate, with a large portion of the population active on social media platforms. This provides brands with a wide reach and the opportunity to connect with their target audience through influencer partnerships. Additionally, the Serbian population is known for being highly engaged and active on social media, making it an ideal market for influencer advertising.

Underlying macroeconomic factors: The economic stability and growth in Serbia have also contributed to the development of the influencer advertising market. As the economy continues to improve, consumers have more disposable income to spend on products and services. This has created a favorable environment for brands to invest in influencer advertising as a way to capture the attention and purchasing power of consumers. Furthermore, the rise of e-commerce in Serbia has provided brands with new avenues to reach customers, and influencer advertising plays a crucial role in driving online sales and brand awareness. In conclusion, the Influencer Advertising market in Serbia is experiencing significant growth and development due to changing customer preferences, the rise of micro-influencers, the diversification of platforms, high internet penetration and social media usage, as well as favorable macroeconomic factors. Brands are increasingly recognizing the value of influencer advertising in reaching their target audience and creating authentic connections with consumers. As the market continues to evolve, it is expected that influencer advertising will play an even larger role in the marketing strategies of brands in Serbia.

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.