Key stat: US marketers will spend $8.14 million on social media sponsored content this year, marking 16.0% growth YoY, according to our March 2024 forecast.

Beyond the chart:

• Although spend will rise next year to $9.29 billion, growth is slowing, as marketers spend more carefully with larger creators with whom they can establish long-term relationships.
• Brands are increasingly opting for recurring, “always-on” partnerships with trusted creators rather than one-off campaigns. This shift has reduced both the number of creators brands work with and the number of new deals.
• The deals that are formed, however, are bigger, often designed to extend outside of social media to other platforms like TV.

Use this chart:

• Evaluate spending on sponsored content.

More like this:

• How marketers should measure social media creator campaign performance
• Are brand-led creator communities the next evolution of influencer marketing?
• How to get the most out of working with creators and influencers
• Guide to influencer marketing: Trends, tactics, and KPIs

Note: An influencer is an individual who can sway the brand preferences, buying decisions, and loyalty of a broader population, regardless of follower count. Creators are people or entities that develop original content primarily for digital properties with the purpose of building and monetizing their audience. Examples include celebrities, public figures, YouTube/Instagram/TikTok creators, and subject matter thought leaders/experts.

Methodology: Estimates are based on the analysis of estimates from other research firms, consumer media consumption, company reports, and device adoption trends.