Meta adjusts its own social networks to compete more successfully with TikTok, however in the field of Instagram influencer marketing it is still confidently ahead of others. Facebook is less lucky— this year TikTok could overtake it in influencer marketing business spending.
According to data from Insider Intelligence analysts, $774.8 million has already been spent on influence marketing in TikTok. For Facebook, this number is $739 million, so it is likely that TikTok’s advantage will continue until the end of the year.
To overcome the advantage of YouTube, the Chinese social network will need more time. Currently, the platform remains in second place with $948 million spent on influencer marketing. However, analysts predict that TikTok will be able to close the gap and overtake YouTube by 2024.
Instagram remains the undisputed leader of influencer marketing with more than $2 billion spent. However, the social network is also changing to better compete with TikTok. For example, it provides more creative tools for Reels and focuses on video content.
Recent changes in the social network caused a wave of indignation among users. Due to the fact that superinfluencers Kim Kardashian and Kylie Jenner spoke against the “tiktokization” of Instagram, part of the changes had to be canceled.