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TikTok Surpassing Facebook in Influencer Marketing Spend in 2022, YouTube by 2024

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When it comes to influencer marketing and the budgets that businesses and brands spend (US) on the digital marketing campaigns, TikTok is set to overtake Facebook by the end of 2022, and projected to continue to climb the mountain, according to TechCrunch.

It’s clear that Instagram is worried about their hold on the top spot, as TikTok continues to climb the ranks, and given the amount of updates Instagram has implemented to make it’s app feel more like TikTok (more on that), the brands are digging in their heels to collide for supremacy atop the influencer marketing mountain.

The report cites a new data study from analysts at Insider Intelligence (previously eMarketer) that indicates that TikTok is set to overtake Facebook in influencer marketing spend within 2022, and will take over YouTube, who currently sits in the second spot, by the year 2024.

Currently within the United States, YouTube is seeing $948.0 million in influencer marketing dollars spent on its platform which is ahead of Facebook’s $739.0 million, but TikTok has already topped YouTube based on marketer usage for influencer centric marketing campaigns.

Also noted were Instagram’s recent rolling back of some recent updates to replicate TikTok, but some kickback, which included a complaint from celebrities like the Kardashians, forced a change in approach.

Instagram could be planning for larger scale changes in the future, so it can slide more fluidly into an influencer marketing centric focus. Whether or not TikTok SEO will force Instagram to embrace search engine optimization style marketing remains to be seen, but change is coming.

Smaller influencers are set to see some growth in opportunities as well, as Instagram’s feed adjustments would allow smaller “micro” and “nano” influencers to get a bigger cut of the revenue cake. To clarify, Nano-influencers are considered to be those with 1,000-4,999 followers, with micro-influencers clocking between 5,000-19,999 followers, and with TikTok content creators who would fit in those categories already generating benefits, it’s vital for Instagram to also point focus in those directions.

The report predicts that “nano” influencer spending will rise 220.5%, and spending on “mega” influencers will grow only 8.0%.

There is also data to show that marketers may prefer to work with smaller creators, for a number of reasons that include cheaper rates and higher engagement rate potential.

“TikTok is surging in popularity for influencer marketing, but it’s still nowhere near Instagram in terms of spending or marketer adoption,” Insider Intelligence principal analyst Jasmine Enberg said. “That’s in part due to the higher prices Instagram creators charge for content, but also because of its wide array of content formats, most of which are now shoppable. Still, Instagram is trying to be more like TikTok so that it can attract smaller creators, which TikTok is known for. That’s key for Instagram to retain its lead in the influencer marketing space, especially as many creators on TikTok now boast follower counts that rival or surpass those on Instagram and YouTube.”

The report closes by predicting that 74.5% of U.S. marketers will use influencer marketing in 2022 and influencer marketing spend will rise by 27.8% to $4.99 billion this year alone.

 

 

 

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Riot Games Victims of Cyberattack

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Riot Games issued a statement on Wednesday saying that they  received a ransom email after hackers stole source code for League of Legends and Teamfight Tactics, with the attack also targeting its legacy anticheat platform, according to an official release.

“Needless to say, we won’t pay,” Riot said in the statement.  “While this attack disrupted our build environment and could cause issues in the future, most importantly we remain confident that no player data or player personal information was compromised.”

Riot Games continued by saying that it’s been working to assess the leak’s impact on anticheat as “any exposure of source code can increase the likelihood of new cheats emerging.” The company added that “experimental features” were also exposed, saying that “most of this content is in prototype and there’s no guarantee it will ever be released.”

Riot Games first announced the hack back on January 20th, saying it was a “social engineering attack.”

 

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Squanch Games CEO Justin Roiland Resigns

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Squanch Games CEO Justin Roiland has officially resigned from his position at the company after news broke that Adult Swim would be parting with popular series ‘Rick & Morty’, according to an official announcement.

Per the company, Roiland’s resignation was received on January 16th, and the company added that it will continue to support High on Life, which released on December 13, 2022, and “keep developing games we know our fans will love.”

Roiland, who is the studio’s co-founder, was charged with felony domestic battery with corporal injury and false imprisonment by menace, violence, fraud, and/or deceit earlier this month.

“Adult Swim has ended its association with Justin Roiland,” Adult Swim/Cartoon Network/Boomerang senior vp communications Marie Moore said in a statement issued on Tuesday.

According to the Hollywood Reporter, ‘Rick & Morty’ will continue, but with new voice actors cast in the iconic roles voiced by Roiland.

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Washington Post Set to Shut Down Gaming Section

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The Washington Post is reportedly gearing up for a round of layoffs and as part of those cuts they will be shutting down their video game label Launcher and student focuses section KidsPost, according to Axios’ Sara Ficher.

According to the report, Washington Post executive editor Sally Buzbee sent a memo to staff today informing them of the upcoming changes, explaining that the media brand will be laying off 20 people from the newsroom.

While the memo does not make a mention of Launcher, the report cited two sources with saying that the Washington Post plans on axing Launcher.

When the Washington Post initially brought Launcher live back in 2019, they hyped it as “a dedicated section that aims to recalibrate the conversation with classically trained journalists who were raised on games.”

Unfortunately, the Washington Post is just the latest video game news media brand to impost layoffs, much like IGN, GameInformer, Vice, G4 (which was shut down entirely), and Polygon, among others.

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