The coronavirus outbreak situation has affected both individuals and businesses worldwide. And while travel influencers were the first to take a revenue hit as many countries closed their borders, a new report suggests a wider impact on the social media space.
According to influencer marketing platform IZEA, the COVID-19 pandemic will cause a 15% to 25% drop in sponsored post pricing as businesses that want to advertise with influencers are facing probable financial difficulties and potential staffing issues.
The findings were presented on Wednesday as part of IZEA’s two consumer research studies focused on coronavirus implications. The platform also offered its own industry insights and stated that content creators can “expect the price-per-post on all social platforms to fall dramatically in the short term, and that may continue depending on the length of the coronavirus impact”.
On the bright side, some 66% of the 949 US-based study participants said their general…