{"id":14424,"date":"2023-09-19T14:22:56","date_gmt":"2023-09-19T14:22:56","guid":{"rendered":"https:\/\/mysourcefunding.com\/marketing\/influencer-marketing-surpassed-29-billion-in-2022-report\/"},"modified":"2023-09-19T14:22:58","modified_gmt":"2023-09-19T14:22:58","slug":"influencer-marketing-surpassed-29-billion-in-2022-report","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=14424","title":{"rendered":"Influencer marketing surpassed $29 billion in 2022: report"},"content":{"rendered":"

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Consider the marketing industry influenced.<\/p>\n

Influencer marketing spend increased 21.5% in 2022 to $29 billion and is expected to go up 17% this year, reaching $34 billion, a report from media research firm PQ Media found.<\/p>\n

The majority of that spend\u2014about 76%\u2014came from the US market, but PQ expects that share to shrink closer to 68% by 2027 as influencer marketing gains traction worldwide. India was the second-fastest-growing market in 2022, followed by Japan. PQ Media uses \u201cproprietary econometric methodology\u201d to forecast industry growth.<\/p>\n

Small but mighty:<\/strong> PQ found that the recent surge in influencer spend was driven by factors like an increase in time spent on social media by millennials and Gen Z, as well as an increase in the number of influencers, a majority of them nanoinfluencers with fewer than 10,000 followers.<\/p>\n

According to the report, microinfluencers were the fastest-growing category within the sector last year, up 30.5% from the year before compared to macroinfluencers at 27.7%. Microinfluencers are typically defined as those who have between 10,000 and 100,000 followers.<\/p>\n

You\u2019re either in(fluenced) or you\u2019re out:<\/strong> Some of the other factors driving the \u201cconsistent double-digit growth\u201d of influencer marketing last year and this year, according to PQ, include:<\/p>\n