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NEW DELHI: Advertising spending on social media influencers in India by brands is rising — driven by increasing popularity of content creators and proliferation of new platforms like TikTok and ShareChat — and it could as much as double this year, advertisers and marketers said. Some even expect TikTok, owned by China’s Byte Dance; to overtake Facebook-owned Instagram in terms of ad spends on influencers by next year.
“Influencer spends could go up by 70-100% this year,” said Prashant Puri, chief executive of digital marketing firm AdLift. “Influencer marketing for us is primarily across two platforms: Instagram and TikTok. About 60-65% is Instagram, and about 30% is TikTok.”