[eMarketer] The Influencer Marketing Agency Ecosystem 2024: Agencies Turn to Consolidation and Expansion as Sector Grows Up

This entry was posted in Agency, Press on December 16, 2024.

The creator economy and influencer marketing have grown rapidly over the past decade, spurring a host of agencies, platforms, and vendors catering to the space. As brands integrate influencer marketing into their broader strategies, many are trying to figure out which agencies will best help them meet their goals.

Key Question: Which are the key agencies within influencer marketing and the creator economy, and how can brands best use their offerings?

Key Stat: US influencer marketing spending will grow 14.2% YoY in 2025, more than either social ad spending (13.6%) or digital ad spending (12.5%), per our forecasts. That’s a signal that marketers are serious about investing in the sector.

Executive Summary

Agencies are evolving to keep up with the influencer sector. In 2025, US influencer marketing spending growth will outpace both digital and social network ad spending growth, per our forecasts. Influencer marketing is now a core part of the media mix, and agencies of all sizes are adapting to this new reality.
Agency offerings for influencer marketing run a wide gamut. They can range from helping brands strike deals with influencers and creators to measuring campaign performance. This has resulted in a tangled web of offerings; some agencies specialize in one aspect of the industry, while others provide a more holistic offering.
Many agencies with a broad range of offerings are involved with influencer marketing in some capacity. Traditional agencies, social media agencies, holding companies, talent representation companies, and tech platforms are all investing in it. With no shortage of options, it can be difficult for brands to determine which agency, or agencies, are right for them as they invest in the space.
Brands should expect to see more consolidation in the space. As more agencies take on influencer and creator work, brands will want to consolidate their efforts with fewer partners. As a result, brands will likely turn to full-service, larger agency partners when possible, especially as holding companies continue to make acquisitions in the space. And in some cases, they’ll want to take some work in-house.