Have you ever wondered how much do Instagram influencers rake in on a monthly basis?
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.
So, how much do Instagram influencers really earn?
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 percent were women and 28 percent were age 25-34.
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Average monthly income nears US$3,000 (Rs 2.23 lac approx.)
The first key takeaway from HypeAuditor’s report is that half of the influencers surveyed (48.5 percent) say they make money from their Instagram account. On average, an influencer earns US$2,970 (Rs 2.21 lac approx.) 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 US$1,420 (Rs 1.5 lac approx.) per month. Mega-influencers (more than one million followers) make US$15,356 (Rs 11.4 lac approx.) per month.
Still, among holders of accounts with between 1K and 10K followers, only 22.99 percent report making money, compared to 68.75 percent of accounts with 500K to one million followers.
Differences were also seen in relation to the influencers’ fields of expertise. The average influencer makes US$31 (Rs 2,306) per hour, but a beauty specialist will earn double that, with US$60 (Rs 4,464) per hour, a record across categories (in relation to the time spent on maintaining the account). Some superstars can reap as much as US$187 (Rs 13,918) per hour. Overall, the categories making influencers the most money are animals, business and marketing, and fitness and sport.
Less than 5 percent live on their Instagram income
Nevertheless, only 4.27 percent of respondents say they live solely on their Instagram income. On average, these influencers earn US$5,912.8 (HK$45,948) per month from their account.
With the covid-19 pandemic, 47 percent of influencers surveyed say they earned more money. However, the pandemic has also had downsides, with 49.68 percent 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 percent. Meanwhile, 14.92 percent 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.
Hero and feature image by Dimitrios Kambouris/Getty Images for The Business of Fashion
The story is published via AFP Relaxnews