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The creator economy is bursting at the seams as brands tap into social media stars, both big and small, hoping to recreate word of mouth-style marketing online.
In fact, agency clients and brands invested more in influencer marketing in 2023 than they did in 2022, according to Digiday+ research. In Q1 of 2022, 69% of agency professionals said their clients spent at least a very small portion of their marketing budgets on influencers. By Q1 of 2023, that figure jumped to 76%. Goldman Sachs predicts that the creator economy could approach half of a trillion dollars by 2027.
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