Latest data by HypeAuditor shows that Instagram Influencer Marketing hasn’t been affected negatively by Coronavirus lockdowns as much as other businesses. In fact, the market size grew by 3.9% and reached $1.2 billion.
HypeAuditor, leading fraud-detection platform in the influencer marketing industry, reviewed more than 3 million sponsored Instagram posts and released very important data on the impact of COVID-19 lockdowns on Instagram Influencer Marketing.
Unlike the other social media platforms, market size of Instagram Influencer Marketing grew by %3.9 between the first quarter of 2019 and the first quarter of 2020.
The market size in 2019 was approximately 1.18B and reached 1.23B during Coronavirus lockdowns. According to the report, it is expected to be around $5B to $7B by the end of this year.
However, it looks like Coronavirus had an effect on Influencer Marketing budget cuts. The largest cut was in March 2020. Global spend was $416 million in March 2019 and reduced by $16 million 12 months later. But we can see consider it as a reduction in growth.