India's influencer market will exceed $400 million in 2026

India's influencer marketing industry is expected to reach $289 million in 2024 and could cross $405 million by 2026, says a new Ernst & Young research report. It was revealed.with title Current state of influencer marketing in Indiathe report added that at least 73% of influencers in India work less than 10 hours and 77% of its population consists of female influencers.

The report was released after Ernst & Young conducted a study in collaboration with Collective Artists Networks' Big Bang Social. They contacted over 86 of her brands and her 2,053 respondents. Includes 86 brands, 556 creators, and 1,411 other industry experts.

Women are leading influencer marketing in India

The percentage of female respondents was 78%. The report also states that 65% of influencers earn more than $140,000 per month. Of these, 65% are female influencers and earn that amount.

Current scenario

brand strategy

Although India is new to the influencer marketing industry, brands are quickly picking up the pace when it comes to choosing influencers for their marketing strategies. A new report suggests that 75% of brands are considering influencer marketing as part of their marketing strategy, and 47% of brands prefer to drive influencer campaigns with micro- and nano-influencers. Reaching out to nano- and micro-influencers allows brands to manage their budgets more efficiently. 70% of brands plan to maintain or increase their influencer marketing budget in 2024, with half planning to increase it by 10%.

influencer income

According to the report, 77% of influencers have increased their income in the past two years, and 86% expect their income to increase by at least 10% in the next two years.

Amiya Swarup, Partner and Marketing Advisory, EY India said, “In today's rapidly changing Indian society, citizens are facing transformation in various aspects such as changes in social norms, career paths, financial strategies, and culture. Influencers are playing the role of modern-day heroes. Coupled with the expected growth of influencer marketing, influencers are defining an unprecedented era of knowledge and influence, while at the same time brands are stepping in to provide guidance, reassurance, and advice. It's clear that there are tremendous opportunities for marketers and marketers alike.”

The role of mobile and the internet

The surge in influencer marketing in India is driven by the proliferation of mobile phones and affordable internet across the country. According to McKinsey's 2019 report, India had 560 million internet subscribers in 2018. In a report released in 2019, KPMG predicted that 1 billion Indians will access the internet and 839 million will become regular smartphone users. According to a report by Forbes India, the report states that more than 500 million people will have access to digital content in regional languages.

road ahead

An EY report predicts that by 2030, there will be a total of 740 million active smartphones in India. Approximately 50% of mobile usage is devoted to social media platforms. The report further reveals that influencer marketing growth is expected to be driven by the lifestyle, fashion, and beauty categories. Brands in the automotive, e-commerce, and FMCG sectors are also expected to increase their spending on influencer marketing.

Addressing the challenges of influencer marketing

Will Big Bang Social help content creators and social media influencers, whether it's dealing with legal aspects or online trolling? Vijay Subramaniam, CEO and Founder, Collective Artists' Network Group: states. “We have crisis management experts and deep relationships with all major social media platforms (primarily Meta, YouTube) to ensure we deliver community guidelines and new community management features/services. .Kept up to date.”

Subramanium further adds, “We are the only company to partner with Fortis Mental Health to create specialized courses in mental health tools and practices for content creators. Our in-house legal partners provide transactional and strategic support. We have extensive training in contract management for both, ensuring full end-to-end control of intellectual property and copyrights in brand and media deals for exclusive creators.”