As more brands and retailers are noticing the benefits of influencer marketing, the cost of sponsored posts has gone up dramatically in the past five years.
According to new data from IZEA, the average Instagram sponsored post is now 44% more expensive than in 2018. YouTube sponsored posts have shot up from $420 in 2014 to a whopping $6,700 in 2019.
The average blog post now costs $1,442 compared to just $7.39 in 2006.
Meanwhile, a Facebook status costs $395 in 2019, up from $8 in 2014.
Twitter status updates rose 14.6x from $29 in 2014 to $422 this year.
“We believe content produced by influencers is competing with and in many cases replacing creative that was traditionally produced by agencies. Despite the dramatic price increases up to this point, influencers are generally able to produce content much more cost-effectively than agencies – and provide the additional benefit of distribution to their followers. The hourly price to concept a shoot, hire a model, hire a photographer, find a location, and retouch an image is still far more expensive in the traditional agency world,” explained Ted Murphy, CEO of IZEA.
The data is based on historical transaction data and prices paid.