India’s influencer marketing industry to swell to ₹34 billion by 2026

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₹34 billion by 2026, from ₹19 billion in 2023, as businesses increasingly turn to social-media influencers to drive sales and deepen brand connect, a recent Ficci EY report said. While Instagram and YouTube are the platforms of choice, smaller platforms such as Snapchat will also increasingly be used to reach out to niche audiences.

Massive digitization, a surge in Internet access and high social media penetration have all fuelled growth in consumer affinity to influencer marketing. However, with the growth of regional and micro-influencers, the stage is set for these creators to start receiving compensation based on how individual posts and videos drive specific outcomes like, say, brand sales.

“Influencers are uniquely positioned to provide audiences with exactly what they want compared to brand-led advertising. The space of celebrityhood in the world of advertising and entertainment that was primarily dominated by actors, sportspeople, models, musicians and so on, has given way to include people who started their careers as creators and influencers," said Tusharr Kumar, chief operating officer of media and entertainment organisation OML Entertainment.

Brands are working with influencers to create regular content and collaborate on product launches, with dedicated teams and budgets for influencers, said Rushabh Shah, lead, paid collaboration at OPPORTUNE, a data-driven influencer-marketing platform. Instead of solely focusing on macro influencers, brands are now tapping into the power of region-specific influencers who hold a strong sway within a particular geographic area, Shah said.

“Brands and streaming platforms are fully embracing influencer partnerships. They're cost-effective, reach the right audiences, and feel