The advertising industry has found new, unique and effective ways to communicate to the target audience through digital mediums. This mode of communication geared up following the COVID pandemic. Further, a surge in the usage of smartphones and internet services has opened many doors for digital advertising. As per our data, digital ad spending in India is expected to become 2.5X in the next five years to USD 21 Bn.
At the centre of this digital shift is the user-generated content and influencer ecosystems that can drive highly targeted advertising. This strong ecosystem of ~2.5 to 3 million creators is expected to drive marketing spending of $2.8Bn- $3.5Bn by 2028.
Here’s a complete report on the challenges and opportunities to bridge the gap between the creators and brands. It further emphasises how the one-stop influencer platform, ‘Creator Marketplace’, can emerge to bridge this gap.