Influencers and Subjective Value: They Have Something to Teach Us
In 2022, investments into the creator economy surged to $5 billion. The term creator refers to people who generate value from intellectual output or artistic work. However, a new form of creative has emerged known as the “influencer.” Influencers are online personalities who, through their charisma, cultivate a loyal fanbase. Due to their reach, brands employ influencers to market their products and services.
Influencer marketing has proven to be a lucrative venture, and estimates suggest that the industry totaled $16.4 billion in 2022. Brands fork out huge sums to capitalize on the reach of megacelebrities who sway millions to buy their products. Football superstar Cristiano Ronaldo earns $2,397,000 million per Instagram post, and the doyen of American influencers Kim Kardashian collects $1,689,000 million per post.
The business of influencing is so profitable that several youngsters are seriously considering it as a future profession. In 2021, a YouGov survey reported that more young people aspire to become professional influencers rather than doctors or lawyers. Unfortunately, many perceive this development as a worrying trend because they view influencing as mindless banter. Some personalities do peddle pointless banter, but their ability to inspire and motivate followers cements their credibility as influencers.
The relevant point is that influ
Article from Mises Wire
