48% of influencers earn less than $15,000 annually
A report by The Wall Street Journal (WSJ) on Monday evening (June 17) delves into the challenges faced by those trying to earn a living through social media content creation.
The report highlights the competitive nature of the field, noting data from Goldman Sachs that shows 50 million people currently earning income as influencers. The number of content creators is expected to grow by 10% to 20% annually through 2028.
Despite the growth, very few creators achieve significant success or earn a sustainable income. According to figures from NeoReach, an influencer marketing agency, 48% of creators earned $15,000 or less in 2023, while only 13% earned more than $100,000.
One of the influencers featured in the report is Clint Brantley, who creates content on TikTok, Twitch, and YouTube about the online game Fortnite. Although he has over 400,000 followers and his posts average 100,000 views, his earnings fell below the U.S. median annual salary of $58,084 in 2023. At 29, he still lives at home, hesitant to sign a lease due to the unpredictable nature of his income from tips and sponsorships.
Brantley expressed his vulnerability, stating, “I’m vulnerable.”
The report also addresses concerns about the future of influencers if TikTok, which is facing a potential ban in the U.S., is removed from the landscape. As discussed this spring, some influencers are already planning for a post-TikTok world.
Fiona Co Chan, CEO and founder of Youthforia, a skincare brand with over 190,000 TikTok followers, acknowledged the challenges that a TikTok ban could bring. However, she believes the impact of TikTok on social commerce will endure.
“The style of content that TikTok introduced—quick, engaging, and informative—will continue to influence audiences worldwide,” Chan said.