US marketers are projected to allocate $8.14 million toward social media sponsored content in 2024, indicating a 16.0% increase from the previous year, as reported by the eMarketer forecast.
eMarketer insights reveal a trajectory of continued growth, with expenditures anticipated to reach $9.29 billion in the following year. However, this expansion is exhibiting a decelerating trend, reflective of a strategic shift among marketers towards more discerning investment strategies.
Marketers are now prioritizing partnerships with established influencers, fostering enduring associations rather than fleeting collaborations. This preference for sustained, "always-on" engagements has led to a consolidation in the number of creators engaged by brands, as well as a decline in the frequency of new contractual agreements.
Despite the reduced volume of partnerships, the scale of individual deals has amplified significantly, often encompassing multi-platform endeavors extending beyond social media realms to platforms like television.
Read next: LinkedIn Data Shows Social Media Marketing is the Most In-Demand Skill on the Platform
eMarketer insights reveal a trajectory of continued growth, with expenditures anticipated to reach $9.29 billion in the following year. However, this expansion is exhibiting a decelerating trend, reflective of a strategic shift among marketers towards more discerning investment strategies.
Marketers are now prioritizing partnerships with established influencers, fostering enduring associations rather than fleeting collaborations. This preference for sustained, "always-on" engagements has led to a consolidation in the number of creators engaged by brands, as well as a decline in the frequency of new contractual agreements.
Despite the reduced volume of partnerships, the scale of individual deals has amplified significantly, often encompassing multi-platform endeavors extending beyond social media realms to platforms like television.
Read next: LinkedIn Data Shows Social Media Marketing is the Most In-Demand Skill on the Platform
