Influencer marketing budgets are still expected to grow in the U.S., but the fate of TikTok’s future in the country, as well as economic uncertainty spurred by the Trump administration’s tariffs, could contribute to a slowdown in growth this year. Spending on U.S. influencer marketing is expected to rise 15% to $10.5 billion in 2025, representing a significant growth slowdown from last year, when spending rose nearly 24%, according to a new forecast from eMarketer. The data includes sponsorship deals with creators to promote products and services on social media and doesn’t include free products and trips or paid ads.
Mar 12, 2025
Creator Economy
By Kaya Yurieff
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Influencer marketing budgets are still expected to grow in the U.S., but the fate of TikTok’s future in the country, as well as economic uncertainty spurred by the Trump administration’s tariffs, could contribute to a slowdown in growth this year.
Spending on U.S. influencer marketing is expected to rise 15% to $10.5 billion in 2025, representing a significant growth slowdown from last year, when spending rose nearly 24%, according to a new forecast from eMarketer. The data includes sponsorship deals with creators to promote products and services on social media and doesn’t include free products and trips or paid ads.
Continued turmoil over a potential TikTok ban in the U.S. is spooking marketers. TikTok has been the biggest driver of growth in influencer marketing spending, representing about a fifth of overall spending, according to eMarketer. Meanwhile, Trump’s tariffs on steel, aluminium and other goods are adding to uncertainty around the economy, which is making brands wary.
Jasmine Enberg, vice president and principal analyst at eMarketer, expects growth for influencer marketing to tick up slightly in 2026 as marketers gain more clarity about how these issues will impact their businesses. At the same time, influencer marketing has solidified itself as an industry, so it’s natural to see growth slow over time.
“Influencer marketing is both maturing and diversifying,” Enberg said, adding that 2024 was a “stronger than expected” year for influencer marketing as more advertisers recognized that they needed to work with creators.
“It really was a year of legitimacy for influencer marketing,” she said. “[Brands] got more serious about their strategies,” including new industries that hadn’t previously focused on influencers, such as politics and business software providers.
Podcasting is also becoming a bigger part of influencer marketing as the popularity of the medium grows following the 2024 election, according to the data. How much creators earn from podcasts is expected to rise at an even quicker clip than their revenues from social media this year, though they’re starting from a smaller base.
“Podcasting is one of the main channels that brands are looking to diversify their influencer marketing spending into,” Enberg said.
Here’s what else is going on…
The Tick-Tock on TikTok
• At least eight executives have left TikTok or announced their departures since the beginning of the year amid deep uncertainty about TikTok’s fate in the U.S, The Information reported. (See a mini org chart of the departures here.) These add to other exits, including Marni Levine, head of TikTok Shop’s U.S. operations for small and medium businesses, who quietly left the company in the fall.
• Latest state of play: President Trump has said he was dealing with “four different groups” of potential buyers for TikTok. One possibility is that a consortium of U.S. companies will operate a new entity owning components of TikTok U.S. Interested buyers are trying to figure out what will be in such an entity, including whether it will house TikTok U.S.’s users, brand, advertising and user interface, according to three people familiar with the talks. Another question is whether the acquirer would give the U.S. government some economic interest in the new entity, as Trump has proposed, said two people.
Deals & Debuts
See The Information’s Creator Economy Database for an exclusive list of private companies and their investors.
Cartesia, an AI voice startup, raised $64 million in Series A funding led by Kleiner Perkins.
OpusClip, a generative AI-powered video editing startup, raised $20 million in funding led by SoftBank Vision Fund 2 at a $215 million valuation. The startup was one of The Information’s Top 50 Most Promising Startups in 2024.
Alchemy, a startup offering cash advances for creators, announced a $100 million fund to pay influencers for future brand deals based on their projected future earnings.
Calaxy, a blockchain social commerce startup, announced a new $1 million creator fund. The startup will give 50 creators $20,000 to build “sustainable businesses” within their virtual social club, called worlds, on Calaxy, where they can charge fans for direct messages and other experiences, such as video messages or shoutouts.
TikTok announced a new meditation feature in its app for users under 16. If they use TikTok after 10 p.m., their For You Feed will be interrupted with calming music that takes over the screen. The app will show a first reminder, and then a second reminder which it says is harder to dismiss and also takes over the full screen.
Whalar announced a partnership with data and analytics firm Kantar, so that the creator agency can use Kantar’s Link AI tool, which predicts an ad’s success.
Creator Corner
Alex Cooper will produce a new dating show expected to be called “Overboard for Love” for Hulu set on a luxury yacht.
Harry Jowsey, a podcaster and former reality TV Netflix star, announced Pash, a lotion for sensitive skin.
Mikayla Nogueira, a TikTok creator,is launching a beauty brand called Point of View Beauty backed by Imaginary Ventures.She will launch five products, including a primer and lip treatment, on March 26.
Celebrity Corner
Millie Bobby Brown launched a canned iced latte drink in Walmart through her coffee company Florence By Mills Coffee in partnership with Collab Coffee.
Steve Harvey partnered with Vermillio, an AI licensing and protection startup, to monitor misuse of the entertainer’s name and likeness.
Russell Westbrook launched a newsletter on Beehiiv, where the basketball star said he’ll cover a variety of topics including art and fashion.
People on the Move
Bill Simmons will remain as Spotify’s head of talk strategy after resigning his contract at the company.
Thank you for reading the Creator Economy Newsletter! I’d love your feedback, ideas and tips: kaya@theinformation.com.
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