Wednesday, February 28, 2024

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    Influencer agencies expand in U.S. markets with new leadership as global competition rises

    European influencer marketing agencies are making their way to the U.S., entering with new leadership as they vie for an edge in talent and technology.

    With influencer marketing maturing as a viable and measurable option for brands, it is becoming a competitive advantage for these agencies to set up shop in strategic markets and recruit talent there. It’s part of a “global expansion” for influencer agencies to have a “presence in multiple markets — giving them an ability to tap into local influencer networks and cater to multinational clients,” said Alex Dahan, CEO of influencer agency Open Influence.

    U.S. expansion was only a matter of time — given that the U.S. continues to be the largest influencer market. Since 2019, global influencer marketing value has more than doubled to $21.1 billion in 2023, according to Statista. The influencer marketing spending was around $6 billion in the U.S. in 2023. Of this pool, social media influencers and creators in the U.S. have the largest followings and accounted for 75% of influencer marketing spending worldwide in 2023.

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