According to Mediakix, the influencer marketing industry will be a $5-$10 billion dollar market in the next 5 years. Instagram influencer marketing alone is estimated to see advertisers spend $1.6 billion in 2018.
Despite the substantially sized market, influencer marketing, in many ways, still feels like the Wild Wild West. Pricing tends to be opaque and tremendously wide ranging. Many influencers purchase fake followers/engagements to create the illusion of reach/influence. There is a robust layer of middlemen – ranging from talent agencies/managers to influencer agencies/platforms to MCNs (among others) – which often create operational inefficiencies.
Can blockchain help influencer marketing? Listen to what our expert panel of influencers, blockchain specialists and media and tech entrepreneurs have to say about this exciting but challenged industry.