The creator economy is booming. And as creators have become a marketing must-have, they say they’re increasingly pushing for reasonable payment terms, asking for deposits, enacting late fees and employing other tactics to get their fair share of said boom.
Last year, both agency clients and brands reported that they were investing more in influencer marketing than they were in 2022, according to Digiday research. The influencer/creator economy is currently worth $250 billion and it’s expected to nearly double to $480 billion by 2027, according to Goldman Sachs estimates.
To some extent, the creator economy and influencer marketing are still considered marketing’s Wild West, especially when it comes to performance indicators and pay standards. But as it becomes a common line item within marketing budgets, creators and influencers say they’re campaigning for brands, their agency partners and influencer marketing platforms to revisit payment terms.
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The original post is at Marketing Archives – Digiday
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