What’s up with influencers these days?

This edition of Content Weekly is our 250th. That means we've been producing this for five years. It started out covering content marketing (as Content Confidential) but we evolved to focus on the creator economy and content technology. Putting out a useful weekly newsletter for five years without skipping a beat is no mean feat. And I pay tribute to the team who helps put it together and our loyal readers, thank you. From next week we start the second half of our first decade! Stay tuned. Happy Thursday, Simon.

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Influencers are back?

With the creator economy focussed on startup platforms, many dismissed the era of the influencers as over. Well, things have changed. While the number of creator-related startups grew by 550% last year, the actual VC funding for these platforms decreased by 51%. Investors have become hesitant putting their money into new platforms just as brands are looking back to influencers. US spending on influencer marketing is expected to grow by just over 23% this year. Agencies are even interested in influencers. In fact, WPP recently acquired social influencer agency, Obviously.

Influencer marketing value has doubled

Marketers are sometimes too quick to follow the shiny new product. So while everyone assumed new platforms would lead the way in the creator economy, the value of the influencer kept growing. And it grew by a lot. Last year, the global influencer marketing value topped at US$16 billion, more than double its 2019 value.

Influencers are their own business

If you’re thinking influencing is a solo job, you’d be wrong. Fiverr’s recent Creator Economy Guide found influencers weren’t managing everything themselves. Influencers are working for reputable global brands and need to provide a service equal to that of a major agency. This could mean hiring video editors, graphic designers, data experts and general support staff. No single person can be an expert across all aspects of content marketing.

Collaborating with brands

The biggest challenge facing influencer campaigns is a brand giving up full control of its story and narrative. But brands must cede some of this control, especially if they want to create authenticity. The creator economy is all about building successful and trusted partnerships.

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Happy Thursday

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This week’s newsletter was written by Tim Colman ?and edited by? Michelle Cheong . Gifs produced by? Bayu Wisena ,? Ahmad Hafiz , and Mkay Yap.