With the rapid advent of influencers, there is unbound natural curiosity as to what their average yearly earnings are. There are always rumours that the biggest creators with huge follower counts and viral posts rake up huge amounts. Let’s take a look at the facts we know so far about some of them.
According to the site Comparably, in the United States, the typical income for content creators is $88,043. The average total remuneration for content creators in New York is 116,000 dollars. This is 32 percent higher than the average in the rest of the United States.
For India, job portals like Glassdoor show the average salary of a Content Creator as just around ₹20,000 – ₹25,000 per month. This number seems to be widely off in terms of estimates. We see examples of creators that earn an equivalent amount for just a single sponsored post on social media.
Some creators have been candid about their revenues from YouTube, Instagram, and other platforms.
According to ScoopWhoop, the following are the revenues of some notable creators. All of these have been sourced from the creator’s own videos.
1. Sakshi Sivadasani – around ₹15 – 20 lakh each year
2. Flying Beast aka Gaurav Taneja – around ₹1.4 lakh each month
3. Garima Goel of Garima’s Good Life – ₹1 lakh per vlog
4. Carryminati, aka Ajey Nagar – ₹15 to 20 lakh per month
5. BB Ki Vines – ₹1 crore per year
6. Mumbiker Nikhil – ₹15 – 20 Lakh per month
7. Kritika Khurana – ₹90,000 for every Instagram post, ₹1 Lakh per YouTube video.
HypeAuditor conducted a study of 1,865 Instagram influencers, who were asked about their earnings, the amount of work they put in, the amount of time they commit, and their primary sources of money. There were 45.74 percent females and 28 percent between the ages of 25 and 34.
The most crucial thing to take away from HypeAuditor’s findings is that over half (48.5 percent) of the influencers claimed to make money from their Instagram account. An influencer’s monthly income is normally around $2,970 on average.
However, the income of different accounts varies greatly, mostly decided by the number of individuals who follow the account. Given that their audiences span from 1,000 to 10,000 people, the average monthly income for micro-influencers is $1,420. Mega-influencers, or those with more than one million followers, earn an average of $15,356 each month.
However, just 22.99 percent of account holders with 1,000 to ten thousand followers report making any money at all. This is in comparison to 68.75 percent of account users with 500,000 to one million followers.
There were also differences in the areas of specialisation of the various influencers. A fitness influencer’s hourly compensation is $31, while a beauty specialist can earn twice that amount, pushing their hourly wage to $60, a record across all categories (in relation to the time spent on maintaining the account).
Some superstars can earn up to $187 per hour through their job. Animals, business/marketing, fitness and sport are the most lucrative topic areas for social media influencers.
There is also a statistic worth noting which states that less than 5% of Instagram users make a living from the platform.
Only 4.27 percent of those polled claimed they rely entirely on money from their Instagram account. Each month, these influencers earn an average of $5,912.8 from their respective accounts.
Fourty-seven percent of polled influencers reported higher incomes as a result of the COVID-19 epidemic.
However, the epidemic has had a detrimental impact also, as evidenced by 49.68 percent of influencers polled reporting an increase in fraudulent behaviour.
According to the study’s findings, brand promotion remains the most important source of cash for Instagram influencers, accounting for 40.15 percent of their total income.
Meanwhile, 14.92% of influencers utilise their accounts to advertise affiliate programmes. Influencers will soon be able to earn monetary remuneration for creating personalised content such as shoutouts on the TikTok platform.
Finally, influencers spend an average of 24 hours per week managing their numerous profiles (posts, creating Stories, chatting with followers, etc.) This average lowers to 20.9 hours for Instagram users who do not make money from their accounts, while it rises to 28.7 hours for Instagram users who do.
In India, the trend appears to be accelerating, and now appears to be an excellent time to enter the field of content creation, as the creator economy is thriving. Many companies, organisations, and existing social media platforms allow content creators to earn a living doing what they love.
There have also been demise of platforms that failed to financially support creators, a prime example being Vine, the short-video platform that was a pioneer in vertical video. Viewers quickly abandoned these platforms in favour of others that paid a percentage of revenue and allowed them to earn consistently.
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