In a survey carried out by HypeAuditor, almost half influencers who responded globally earned more money from their Instagram accounts and experienced an increase in income after the onset of the pandemic.
On average, influencers earn £2,137 per month from their Instagram account, with micro-influencers with between one and ten thousand followers averaging £1,021 per month, and mega-influencers with over 1M followers averaging £11,050 per month.
Only 4% of the 2000 respondents live on income from an account, while a further 26% expressed a desire to in the future.
Among the various ways influencers support their income, brand promotion accounts for a significant proportion, at an average of 40%. Close to a quarter of influencers are building a personal brand and attracting customers to their businesses through Instagram, while 15% gain income by participating in affiliate programs.
On average, the influencers surveyed, across sectors including fashion, lifestyle and beauty, spend approximately 24 hours a week maintaining their account, with the majority of that time devoted to posts, stories, and communication with followers.
The least amount of time is spent on team management, marketing strategy and communication with partners.
Of the new data released, CEO of HypeAuditor, Alex Frolov said, “We estimate that over 50 million people around the world consider themselves creators, despite the creator economy only being born a decade ago.”
“Our main goal with this survey is to provide a deeper understanding of the creator ecosystem as it is quickly becoming one the fastest-growing types of small business worldwide.”