Influencer Marketing 2023

The Hollywood Strikes Are a Wake-Up Call That Creators Are Bigger Than Social Media

Report by Jasmine Enberg  | UPDATED: Dec 22, 2023
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Executive Summary
The Hollywood strikes have boosted creators’ power.
It’s time to start taking creators seriously.
How should marketers, social platforms, and media companies shift their strategies?
Insider Intelligence Interviews
Sources
Media Gallery
About This Report
The Hollywood strikes are revealing the full power of creators. They’re accelerating the diversification of platforms and revenue streams, and they will lead to more TV-like content and creator-owned media. Here’s how marketers, social platforms, and media companies should respond.
Topics
Influencer Marketing
Social Media Marketing
Digital Video
US
Table of Contents
Executive Summary
The Hollywood strikes have boosted creators’ power.
It’s time to start taking creators seriously.
How should marketers, social platforms, and media companies shift their strategies?
Insider Intelligence Interviews
Sources
Media Gallery

Many marketers, social platforms, and media companies talk a big game when it comes to their creator strategies. But only some fully grasp or take advantage of creators’ influence beyond brand sponsorships on social media. Now the ripple effect of the Hollywood strikes on the creator economy will force more companies to walk the talk.

Key Question: How should marketers, social platforms, and media companies adjust their strategies as the power of the creator economy grows?

KEY STAT: Spending on sponsored social media content in the US will grow roughly 3.5 times faster in 2023 than social ad spending will—and it will remain ahead through 2025.

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    Table of Contents

    1. Executive Summary
    2. The Hollywood strikes have boosted creators’ power.
    3. It’s time to start taking creators seriously.
    1. How should marketers, social platforms, and media companies shift their strategies?
    2. Insider Intelligence Interviews
    3. Sources
    1. Media Gallery

    Charts in This Report

    US Influencer Marketing Spending, by Platform, 2023 & 2024 (millions)How Much of Their Influencer Marketing Budget Do US Marketers Dedicate to Organic vs. Paid Media/Amplification? (% of respondents, July 2023)
    How Do US Creators Earn Income? (% of respondents, 2021 & 2023)Likelihood of US Adults Watching a Scripted TV Show or Movie Featuring Their Favorite Creators, by Age, Aug 2023 (% of respondents in each group)
    Share of Time Spent With TV in US, by Platform, June 2023 (% of total)Likelihood of US Adults Subscribing to a Streaming Service Offering Content From Creators, by Age, Aug 2023 (% of respondents in each group)

    Interviewed for This Report

    Ali Fazal
    Grin
    Vice President of Marketing
    Interviewed August 3, 2023
    Krishna Subramanian
    Captiv8
    Co-Founder and CEO
    Interviewed August 6, 2023

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    First Published on Sep 1, 2023

    authors

    Jasmine Enberg

    Contributors

    Oscar Bruce Jr.
    Senior Forecasting Analyst
    Paul Verna
    Principal Analyst
    Debra Aho Williamson
    Principal Analyst