A new report from UK-based performance agency Attain found that 65% of Instagram creators have posted less sponsored content in the eight weeks starting March 12 in comparison to the eight weeks prior. The decrease in sponsored content has resulted in an average loss of £16,635 ($20,537) in potential earnings.
According to the report, about 10% of creators said their earnings had completely disappeared. In contrast, only 24% posted more sponsored content in partnership with brands than they did during the previous period.
Meanwhile, although 66% of creators posted less sponsored content in March and April than they did in 2019, almost 25% said they posted more sponsored content, suggesting that many creators adhere to consistent posting schedules for their sponsored content.
Attain discovered that Instagram creators are losing on average 33% of their potential income as a result of COVID-19 ― the equivalent of about £2,500 ($3,100) a week.
The report also found that each follower is worth on average £0.00313 ($0.00387).
Increased engagement rate
Although creators may be losing out on potential earnings, creators are generally seeing increased engagement rates as users spend more time on social media due to lockdown restrictions.
“Our Instagram saw a 10% increase in engagement when the lockdown started. Our Instagram serves as a positive place where our community can find valuable information and engage in meaningful conversations about health and wellness, relationships, and travel,” said travel journalist and creator Collette (roamaroo).
Attain analysed over 500 creators on Instagram, ranging from nano-influencers to celebrity icons to better understand the extent to which their earnings potential had been impacted by COVID-19. Earnings per post were calculated at the four-week mark.
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