COVID-19 and the lockdowns imposed by governments worldwide had a substantial impact on marketers, advertisers and influencers alike.
Now, research by We Are Attain found that 65% of influencers posted fewer sponsored content in the eight weeks between mid-March to the beginning of May compared to the eight weeks before March.
This represents an earnings loss of £16.6k over eight weeks or around £2k per week.
Another 10% of influencers lost all of their earnings while 24% began to post more branded content.
To account for any seasonal differences, the digital performance agency compared the results to the same period during 2019.
It found similar results: 66% of influencers posted less sponsored content compared to 2019, while 23% posted more and 13% lost their earnings.
When averaged, influencers were found to be losing around 33% of their potential earnings due to COVID-19 (or £2.5k).
According to the results, it doesn’t matter whether an influencers had a few thousand followers or millions. Influencers with three million or more followers saw 55% fewer earnings. Influencers with fewer followers than 100k were harder hit with a 72% drop in earnings.
Perhaps unsurprisingly, travel influencers were among the hardest hit group with 79% of them posting less content, followed by 68% of lifestyle influencers and 65% of fashion influencers.
“With engagement rates generally improving and Influencers possibly having to reduce fees due to a temporary decline in demand, brands that have the fortune to be able to spend a Marketing budget may see improved returns compared to previous campaigns, but also compared to other channels that may not be performing as strong during lockdown,” the report concluded.