"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.
"The average cost of a sponsored post on Instagram increased significantly between 2014 and 2019, from $134.04 to $1,642.77," revealing the massive growth in influencer marketing value.
According to an Izea report, during the same period, the price of the average sponsored YouTube video increased from $420 to $6,700, showcasing how the influencer economy has evolved.
Multiple income streams have become crucial as creators can earn hundreds of thousands or even millions annually from partnerships, emphasizing the need for authenticity and engagement.
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