Brands are "shifting from one-time, short-term partnerships to long-term, recurring partnerships," said Olivia McNaughten, senior director of product marketing and partnerships at the influencer firm Grin.
Influencer marketing remains a bright spot in the creator industry, whereas companies in other categories have struggled to grow.
Influencer marketing, by contrast, is humming along, with billions of dollars expected to pour into the category this year.
Influencer marketing may also be outperforming other creator-economy businesses because it taps into an existing market rather than inventing something new.
Goldman Sachs analysts forecasted in April 2023 that influencer marketing and creator advertising would help grow the creator economy to a $480 billion industry by 2027.
Persons:
—, Olivia McNaughten, Grin, Fohr, Dollar Boy, it's, Lindsey Lugrin, Grace Murray Vazquez, Petit, they've, Ansley Williams, influencer, influencers, Williams, Lugrin, Goldman Sachs, Ed East, It's
Organizations:
Service, Business, Dollar, Voices, Cannes Lions, Southwest, Ogilvy North, YouTube
Locations:
London, Emarketer, South, Ogilvy North America