Influencers Are Losing $3,100 USD of Their Earnings a Week Due to COVID-19
Each follower is now worth around $0.00387 USD.
As more cities continue to extend lockdown laws due to the ongoing coronavirus pandemic, select businesses have had no choice but to put some of their employees on unpaid leave indefinitely. Influencers, on the other hand, have also been struggling to make ends meet.
According to a report by Attain, the UK-based digital performance agency analyzed data from more than 500 influencers on Instagram and discovered that each follower is now worth around $0.00387 USD. The platform took the average of the potential earnings the influencers made in the previous year and have found that they are losing, on average, 33 percent of their potential earnings. This means that Instagram influencers are losing about $3,100 USD of their income per week. Since COVID-19 was declared a pandemic, 65 percent of influencers have posted less sponsored content, while 25 percent have posted more. As for the remaining 10 percent, these individuals were merely “unable to continue cashing on paid ads.”
Read the full report on Attain’s website for more information. In other coronavirus-related news, global luxury fashion sales may not recover until 2022.