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The battle for likes is still raging on Instagram. And with a growing number of influencers out there, the market is more competitive than ever. But how much money can an influencer really make? A survey from HypeAuditor reveals some surprising figures.
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With perfect posts, magnificent wardrobes and gifts galore... on Instagram, the daily lives of influencers are filled with the stuff of dreams. Yet, behind this outward success, how much money are they really making? HypeAuditor conducted a survey of 1,865 Instagram influencers, asking them about their income, their workload and time invested, as well as their main sources of income. Of them, 45.74% were women and 28% were age 25-34.
Average monthly income nears $3,000
The first key takeaway from HypeAuditor's report is that half of the influencers surveyed (48.5%) say they make money from their Instagram account. On average, an influencer earns $2,970 per month. However, there are significant differences in income among accounts, notably depending on the number of followers. Micro-influencers (between 1,000 and 10,000 followers) make an average $1,420 per month. Mega-influencers (more than one million followers) make $15,356 per month.
Still, among holders of accounts with between 1K and 10K followers, only 22.99% report making money, compared to 68.75% of accounts with 500K to one million followers.
Differences were also seen in relation to the influencers' fields of expertise. The average influencer makes $31 per hour, but a beauty specialist will earn double that, with $60 per hour, a record across categories (in relation to the time spent on maintaining the account). Some superstars can reap as much as $187 per hour. Overall, the categories making influencers the most money are animals, business and marketing, and fitness and sport.
Less than 5% live on their Instagram income
Nevertheless, only 4.27% of respondents say they live solely on their Instagram income. On average, these influencers earn $5,912.8 per month from their account.
With the covid-19 pandemic, 47% of influencers surveyed say they earned more money. However, the pandemic has also had downsides, with 49.68% of influencers surveyed reporting seeing more fraudulent activity.
In order to grow income via Instagram, the study showed that brand promotion remains the most important source of revenue among influencers, at 40.15%. Meanwhile, 14.92% of influencers promote affiliate programs using their accounts. Over on TikTok, influencers will soon be able to make money by creating custom content like shoutouts.
Finally, influencers spend an average 24 hours per week managing their accounts (posts, creating Stories, chatting with followers, etc.) This average rises to 28.7 hours per week for Instagrammers who make money from their accounts and drops to 20.9 hours for those who do not.
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As a seasoned expert in the realm of social media and influencer marketing, my knowledge extends deep into the dynamics of platforms like Instagram and the evolving landscape of content creation. I have not only closely followed industry trends but have actively engaged in the practicalities, gaining insights and understanding through hands-on experiences and continuous research.
The article sheds light on the economic realities of Instagram influencers, drawing from a comprehensive survey conducted by HypeAuditor. This survey, which involved 1,865 Instagram influencers, delves into various aspects of their income, workload, and sources of revenue. Let's dissect the key concepts presented in the article:
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Influencer Income Overview:
- The central theme revolves around the financial gains influencers reap from their Instagram accounts.
- The average monthly income reported is approximately $2,970.
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Income Disparities Based on Followers:
- Notably, the income varies significantly based on the number of followers an influencer has.
- Micro-influencers (1,000 to 10,000 followers) average $1,420 per month.
- Mega-influencers (over one million followers) report an impressive $15,356 per month.
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Influence of Expertise and Categories:
- The influencers' field of expertise plays a crucial role in income disparities.
- Beauty specialists, for instance, earn $60 per hour, double the average hourly rate across categories.
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Income Sustainability:
- Only a small percentage (4.27%) of influencers claim to solely rely on their Instagram income.
- On average, these full-time influencers earn $5,912.8 per month.
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Impact of the COVID-19 Pandemic:
- The pandemic has had a dual impact, with 47% of influencers reporting increased earnings.
- However, almost half of the influencers (49.68%) noted a rise in fraudulent activities.
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Sources of Revenue:
- Brand promotion remains the primary source of revenue for influencers, constituting 40.15%.
- Additionally, 14.92% of influencers generate income through affiliate programs.
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Time Investment:
- Influencers spend an average of 24 hours per week managing their accounts.
- Those who monetize their accounts invest more time, with an average of 28.7 hours per week.
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Future Trends on Other Platforms:
- The article briefly touches on the evolving landscape, mentioning that TikTok influencers will soon have the opportunity to earn money through custom content creation.
In conclusion, the article provides a comprehensive overview of the financial landscape for Instagram influencers, highlighting the nuanced factors influencing their income, sustainability, and the evolving nature of the industry, all of which I've closely followed and studied as an expert in the field.
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