Influencer marketing is booming, and brands spend billions to promote products with a personal touch.
But these days, the industry of influencer marketing is completely off the rails.
Since 2016, the dollars driving the influencer marketing industry have ballooned from $1.6 billion a year to an estimated $21.1 billion in 2023, according to Influencer Marketing Hub.
Marketers, brands, influencers, and platform companies all have opportunities to exploit one another to varying degrees of harm."
It's not great for consumersDespite the money flying around, the FTC only provides basic guidelines about disclosure requirements for influencer marketing to protect consumers of their content.
Persons:
—, Emily Hund, Hund, David Camp, Michael Jordan, George Foreman, Brooke Shields, Calvin Klein, isn't, It's, Kim Kardashian, influencer Chiara Ferragni, Lindsay Lohan, DJ Khaled, Naomi Campbell, Kardashian, Dylan Mulvaney, Bud Light, Ben Shapiro, Donald Trump Jr, Camp
Organizations:
Service, Business, Social Media, Harvard Business, CBS News, Nike, Salton, FTC, SEC, Consumer, NBC
Locations:
influencers, California