Based on new stats from influencer marketing platform Izea, the average cost for a sponsored Instagram photo has risen 44% from 2018 to 2019 alone. The average cost of a sponsored blog post, meanwhile, has risen from US$7.39 in 2006 to US$1,442.27 in 2019, an increase of 195x.
From 2014 through to 2019, here are the changes in sponsored post prices by platform:
* A Facebook status update has risen 49.4x from US$8 to US$395 on average.
* A YouTube video has risen 16x from US$420 to US$6,700 on average.
* A Twitter status update has risen 14.6x from US$29 to US$422 on average.
* An Instagram photo has risen 12.3x from US$134 to US$1,643 on average.
* A blog post has risen 3.54x from US$407 to US$1,442 on average.
As the stats above indicate, YouTube videos command a premium of four times more than that of Instagram, the next highest-priced form of sponsored content.
"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," said Ted Murphy, founder and CEO of Izea.
"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. The average price for a sponsored content has room to grow and we believe that it will again in 2020."
The influencer marketing industry is said to be currently worth US$16bn.
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