TikTok to overtake Facebook in influencer marketing spend this year, YouTube by 2024, forecast claims
By Editor - Tue Aug 02, 10:08 am
Instagram may be worried about TikTok’s threat to its business, but in the near-term, it’s still far ahead when it comes to the influencer marketing dollars spent on its platform in the U.S. According to a new analyst report, Instagram is on track to capture nearly 3x the amount of influencer marketing spend compared to TikTok in 2022 — or $2.23 billion spent on Instagram compared with the $774.8 million spent on TikTok. However, while Instagram is faring well against TikTok on this front, Meta’s other app, Facebook, is not as lucky. The new data, which hails from analysts at Insider Intelligence (previously eMarketer), indicates that TikTok is now on track to overtake Facebook in terms of influencer marketing spend this year and will overtake the No. 2 platform, YouTube, by 2024. Currently, YouTube is seeing $948.0 million in influencer marketing dollars spent on its platform in the U.S., ahead of Facebook’s $739.0 million. In addition, TikTok has already overtaken YouTube based on marketer usage for influencer-based marketing, the report notes.
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