While Instagram still reigns at the top of Influence marketing with a staggering $2,231.2 million, Tiktok is catching up fast. The platform is already on track to overtake Facebook this year at a projected spend of $774.8 million compared to Facebook’s $739 million.  YouTube is projecting $948 millions in influencer marketing this year, however TikTok has already taken over YouTube marketer usage for influencer-based marketing.

Instagram has categorized its influencers into 3 categories. Nano-influencers are defined as individuals with 1,000 to 4,999 followers, while micro-influencers are individuals with 5,000 to 19,999 followers. Mega influencers have at least 1 million followers.

This year, “nano” influencer spending will rise 220.5%, the analysts predict, while spending on “mega” influencers will grow only 8.0%.

Source: https://techcrunch.com/2022/08/02/tiktok-to-overtake-facebook-in-influencer-marketing-spend-this-year-youtube-by-2024-forecast-claims/