Yes, you heard it right! Instagram’s influencer marketing is now a billion dollar industry.
This is according to Mediakix, an influencer marketing agency that connects brands with socially-engaged audiences, or, if you like — influencers.
An Instagram Influencer Milestone
In a recent post, Mediakix puts Instagram’s influencer market at 1.07 billion dollars and projects that by 2019, the market will have grown to a whopping 2.38 billion dollars.
To estimate how much money advertisers spend on influencer marketing on Instagram, Mediakix tracked the number of sponsored Instagram posts over a year. The agency started by tracking the FTC required hashtags, including #spon, #sp, #ad and #sponsored. In the past year,…