THE AVERAGE price that brands are willing to pay Instagram influencers has reportedly surged in 2019.
This indicates that sponsored content on social media has increased in value to companies who are now willing to pay even those without extortionate amounts of followers.
According to Business Insider and a report by influencer-marketing company Izea, negotiated rates between influencers and brands have increased between 2014 to 2019.
This includes rates for microinfluencers, which is considered to be someone with fewer than 100,000 followers.
Izea found that the average price of a sponsored photo on Instagram went up from $135 (£105) in 2014 to $1,642.77 (£1279) in 2019.
The yearly breakdown was found to be as follows – 2014: $135 (£105), 2015: $381 (£297), 2016: $863 (£672), 2017: $1,170 (£911), 2018: $1,144 (£891) and 2019: $1,643 (£1279).
All types of influencers are now getting paid more according to the new report[/caption]
The way influencers post sponsored content has also changed thanks to the creation of Stories.
This has resulted in “sponsored bundles” that involve influencers posting different types of content for one negotiated fee.
Social media microinfluencer Caitlin Patton, who has just under 25,000 followers, previously told Business Insider that she earns about $2,000 for a “sponsored bundle”.
This would typically include a blog post, an Instagram post and a few Instagram Stories.
Of course, bigger influencers like Love Island’s Molly Mae earn far more and huge celebrities like Kylie Jenner are said to get over £1million per post.
Unfortunately for all influencers, Instagram is currently toying with the idea of getting rid of likes.
This could change how the sponsored content industry works but will unlikely be the end of it due to other ways to measure engagement, like Stories and IGTV views.
Instagram – the key facts
Here's what you need to know…
- Instagram is a social network for sharing photos and videos
- It was created back in October 2010 as an iPhone-exclusive app
- A separate version for Android devices was released 18 months later
- The app rose to popularity thanks to its filters system, which lets you quickly edit your photos with cool effects
- When it first launched, users could only post square 1:1 ratio images, but that rule was changed in 2015
- In 2012, Facebook bought Instagram for $1billion in cash and stock
- In 2018, some analysts believe the app is worth closer to $100billion
- In October 2015, Instagram confirmed that more than 40billion photos had been uploaded to the app
- And in 2018, Instagram revealed that more than a billion people were using the app every month
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In other news, Facebook has admitted that a bug is inadvertently accessing iPhone user cameras as they scroll through the app.
The social media giant now also greying out ‘false’ photos and videos to stop the spread of fake news over the UK general election.
And, Pumpkin the Instagram famous raccoon has died at age four.
What do you think of sponsored posts on Instagram? Let us know in the comments…
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