Influencer marketing and talent management agency SevenSix has released its influencer pricing report for 2023, which provides creator fee guidelines for TikTok, Instagram and YouTube, as well as advice on partnership contractual obligations and additional factors to consider.
The agency’s 2022 report revealed a worrying 18.7% racial pay gap among white influencers in comparison with people of colour, which increased to 21.5% when comparing white and Black influencers. Moreover, creators with a long-term physical or mental health condition earned 23% less per post and there was a 153.6% pay gap between influencers aged 18-30 and 30-45. The 2023 report includes pricing guidelines in order to encourage pay transparency and equity in the industry.
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The pricing guidelines for TikTok, Instagram and YouTube are based on SevenSix’s previous fee brackets, data taken from its 2023 survey and rate cards from talent management agencies across the UK. YouTube is the priciest platform, with the most-followed creators (200,000 to 500,000 subscribers) charging up to £15,000 for a video dedicated to the brand or product, and smaller YouTubers (1,000 to 5,000 subscribers) charging £200-£450. Despite being the most downloaded mobile app in 2022, TikTok is still a developing market for influencer campaigns.
TikTokers with 1,000 to 5,000 followers charge £100-£200 for a post, while those with 20-30 million followers are being paid £4,000-£5,000.
On Instagram, prices vary depending on the type of content, with Stories being the cheaper option and Reels the most expensive. Micro-influencers (1,000 to 5,000 followers) charge £250-£350 for a feed post, £300-£400 for a Reel and £150-£200 for a Story, while the macro creators (200,000 to 300,000 followers) charge £4,000-£10,000 for a feed post, £4,500-£12,000 for a Reel and £2,000-£6,000 for a Story. Discover the full influencer pricing brackets for Instagram, TikTok and YouTube via CORQ’s Infogram chart.
The SevenSix report concluded: “When it comes to engagement rates [on Instagram], 2% is a rational expectation, 3.5% should be the goal and 6% should be seen as high-performing.” While engagement rates are crucial on Instagram, they are less important on TikTok, where the algorithm works in a completely different way. Here, total views, likes, content quality and viral videos are the KPIs. On YouTube, talent has historically been paid based on cost per view, but the SevenSix talent team stressed that this “undervalues the skills required to be a successful YouTuber”.
The pricing report highlighted the importance of including deliverables, usage rights and exclusivity in a campaign contract. There are additional factors which should be considered as well, such as professional qualifications. “Creators who are also experts in their fields, such as medical professionals, aestheticians and accountants, are often paid between 30-50% higher than traditional creators, as they provide an additional layer of expertise to the campaign,” the SevenSix report said.
For the full report, visit the SevenSix Agency website.
By Dina Zubi, news and features writer for CORQ. Picture: SevenSix Agency founder Charlotte Stavrou. Credit: Jed Cullen.