Instagram strongholds influencer marketing despite growing competition

Instagram this year will maintain its spot as the No.1 platform for influencer marketing amid growing competition from social video app TikTok. Marketers in the U.S. this year will spend $2.23 billion on influencer marketing on Instagram, ahead of $948 million on Google’s YouTube and $774.8 million on TikTok, per estimates by Insider Intelligence shared with Marketing Dive.
As TikTok continues to capture a bigger share of spending on influencer marketing, it’s predicted to overtake Facebook this year and YouTube by 2024. Marketer usage of TikTok for influencer marketing already exceeds that for YouTube, Inside Intelligence found.