The influencer business has exploded over the past decade and is now worth $250 billion, according to Forbes.
Ten years ago, one estimate from the influencer marketing agency Billion Dollar Boy placed the industry’s value at just $200 million.
Making money as an influencer has changed a lot since then, both in terms of how much individual creators can make and how.
“It’s gone from creators unlocking ad revenue on platforms like YouTube to a multi-channel industry where brands and influencers collaborate across social media,” said Nirozen Thav, cofounder and CEO of the content licensing company Humant Life.
According to an Izea report in 2014, the average cost of a sponsored post on Instagram increased significantly between 2014 and 2019, from $134.04 to $1,642.77.
During the same period, the price of the average sponsored YouTube video increased from $420 to $6,700.
On Instagram now, creators can earn hundreds of thousands or even millions annually from partnerships.
On YouTube, …