Brands have been paying celebrities to endorse their products on social media for years. But it turns out the amount of money an individual can earn varies significantly depending on the platform they post on.
According to figures published by The Economist, YouTube is the golden egg for celebs and influencers lucky enough to have large enough followings.
YouTube stars with more than 7 million followers can expect to earn an eye-watering $300,000 per post. Even those with a comparatively paltry 100,000 followers can still command $12,500.
Facebook is the next lucrative platform. Individuals with more than 7 million followers can rake in $187,500 for commercial endorsements, while Snapchat and Instagram are level-pegging at $150,000 each.
Twitter, meanwhile, lags behind somewhat. Celebs in the 7m-follower bracket can ‘only’ command $60,000. Still not bad for what probably amounts to around 10 seconds’ work.
The impact of such significant pay-outs certainly makes it money well spent if a campaign hits the bullseye.
Calvin Klein courted pop star Justin Bieber to get behind its #MyCalvins campaign, which ran across 2014 and 2015. Mr Bieber duly obliged and the campaign went on to reach a global audience of more than 469 million people. CK’s social audiences grew by a combined 5 million.
Do you think celebrity endorsements are money well spent or lazy last resorts for brands out of ideas? Let us know in the comments.