How Many Influencers Are There on Instagram in 2024? The Ultimate Guide for Brands and Creators

Influencer marketing on Instagram has exploded onto the marketing scene. What started off as individuals building niche follower bases around their interests, has mushroomed into an economy of its own with serious money exchanging hands. But in spite of all the hype, a fundamental question remains unanswered – just how many influencers are actually on Instagram?

Let‘s analyze the Instagram influencer landscape in-depth to unpack not just the numbers, but also who they are, how to work with them, and where things might be headed next.

Defining an Instagram Influencer

An influencer represents an independent third-party endorser who shapes audience attitudes through blogs, posts, tweets, and shares. They derive influence from their knowledge, relationship with their audience and the reach of their network.

On Instagram specifically, an influencer is someone who:

• Has built a sizeable follower base on the platform
• Generates high engagement rates through likes, comments, shares etc.
• Can influence followers‘ purchasing decisions

Influencer marketing taps into the personal connection and trust influencers share with their followers to drive brand awareness, interest and sales.

There are no definitive thresholds, but based on industry norms, someone with the following counts can be considered an Instagram influencer:

The Different Tiers of Instagram Influencers

Each influencer tier offers unique benefits for brands:

Mega-Influencers

• Highest follower count, maximum potential reach
• Tend to have lower engagement rates
• Most expensive tier and charge a premium
• Example: Kim Kardashian

Macro-Influencers

• Typically subject experts like athletes, actors, doctors, lawyers
• High awareness and credibility
• Charge on average $5k-$10k per post

Mid-tier Influencers

• Have built loyal niched audiences in areas like fashion, travel, food, tech etc
• Average 2-5% engagement rates per post
• Great for targeted, niche campaigns
• Average cost per post of $500-$3000

Micro-influencers

• Everyday individuals with engaged follower bases
• Drive 4 times higher engagement than bigger tiers
• Cost effective way to reach very specific segments
• Charge $100-$250 per post on average

Nano-influencers

• Normal users gaining popularity organically
• Handle product seeding and community building
• Charge no fees traditionally but product gifts work

So while mega-influencers like Cristiano Ronaldo with his 386 million followers might grab the headlines, the biggest potential and momentum lies with micro and nano influencers today.

Estimating the Number of Instagram Influencers in 2024

Globally across all social platforms, there were over 5 million influencers in 2022 ranging from nano to mega influencers.

Instagram‘s share of these cross-platform influencers is estimated to be over 3.2 million. This excludes temporary influencers who may gain short bursts of fame through viral content or moments but do not sustain audiences long term.

As Instagram continues adding features to help creators monetize their content through affiliate links, creator shops, drops, live shopping and more, it is attracting influencers rapidly. There could be as many as 10 million influencers actively using Instagram by 2025.

Here is a breakdown of current influencer distribution across tiers specifically on Instagram based on Followerwonk analytics:

As is evident, lower tier influencers dominate numbers currently. The total economic value however is concentrated on the other end with mega and macro influencers.

According to Backlinko, theworth of the influencer market is projected to grow to $20 billion by 2025. Of this, Instagram influencers account for close to $8 to $10 billion based on current trends.

Why Instagram is Ground Zero for Influencer Marketing

There are several reasons why Instagram has overtaken YouTube and Facebook as the de facto platfrom for influencer marketing:

1. Instagram‘s Visual Nature

The platform is built around photos and videos that allow influencers to showcase branded products attractively. User generated visual content gets higher engagement overall.

Over 100 million photos and videos are shared by influencers on Instagram daily.

2. Ephemeral and Short Video Content Perform Strongly

Stories and Reels are short videos that disappear after 24 hours. This content is easier to produce daily while being fun and engaging for users.

500 million+ Instagram users use Stories every day while Reels engagement is up 30% year-over-year.

3. Young, Valuable User Base

63% of Instagram users are under 34 years making it the platform with the most Gen Z & millennials. This allows influencers to tap into valuable audiences.

4. Seamless Shopping Experience

Instagram checkout, shop tags and drops allow users to purchase products from influencer posts without leaving the app.

Over 200 million users tap Instagram influencer shop tags every month conversion to direct sales.

5. New Monetization Avenues

Subscriber counts, affiliate commissions, Instagram shops and creator funds give nano and micro influencers incentives to create content. More organic influencers helps democratize the creator economy.

So whether it is leveraging existing influence or building it from scratch, Instagram offers unmatched reach and money making avenues at scale for creators today.

Fraud Risks on the Rise as Influencer Marketing Matures

However, as brands pour billions of dollars into influencer marketing, the risks of fraud have also increased. Fake influencers with fake followers and engagement manipulating brands is now common.

In 2021, fraud tripled and comprised 15-20% of all influencer marketing. Losses amounted to ~$1.3 billion as per a study by Cheq.

Signs of Fraudulent Instagram Influencers

While large follower counts might seem impressive, brands need to vet engagement metrics thoroughly. Warning signs include:

• Suspicious engagement metrics e.g. high followers-to-likes ratio
• Use of third party services to boost vanity metrics
• Comments seem spammy or bot generated
• Followers concentrated in suspicious locations
• Content themes change drastically indicating sold accounts

Backlinko estimates over 107 million social media profiles will be fake in 2024. Instagram will bear a large brunt of these. Brands that vet carefully and partner with lower tier but authentic influencers can avoid disasters.

The Outlook on Instagram Influencers – Where Next?

Instagram is expected to continue adding more shopping and affiliate features for creators in 2024. This includes better analytics, creator promos, and augmented reality try-ons.

But influencers will likely need to diversify across platforms as TikTok blows past the competition in growth:

Short form vertical video content that TikTok pioneered is being heavily adopted by Instagram too with Reels. Influencers adept on multiple platforms will be best positioned to benefit from these trends in 2024 and beyond.