From The Hustle
Mom and Dad, you might want to close your ears for this one.
The influencer economy is booming. Gosh that must’ve been painful to hear, but it’s true.
The space is expected to be worth $15B by 2022, and with new pro-influencer platforms and regulations, it’s getting harder to tell kids they can’t “influence” when they grow up.
Today, influencers have their own business platforms
Fohr, for example, offers influencer-brand hiring services, and currently boasts 50+ brands scouting its 100k+-strong influencer talent pool — including lesser-known upstarts Dyson, Costco, American Eagle, and Sephora.
The platform facilitates influencer-brand partnerships and provides tools to launch campaigns with detailed analytics.
The numbers show these platforms help marketers: 34% of brands say finding influencers is a big challenge, down 5% YoY, and 13% have problems managing contracts and deadlines, down 8%.
Influencers are unionizing, too
In February, the SAG-AFTRA entertainment union approved an “influencer agreement” that expanded coverage to sponsored content creators.
In Hollywood, getting a “SAG card” is a right of passage. It opens doors to new opportunities, legal assistance, and health insurance.
Our advice to any young ones reading this: Tell your parents that your favorite YouTubers, TikTokers, Snapchat pros, and Instagrammers now have well-paying union jobs.