A personal style blogger has lifted the lid on the lucrative
business of bloggers who are paid big bucks by brands to feature certain
products, or even phrases, on their Instagram accounts.
Danielle Bernstein, 22, runs the blog We Wore What, and has 992,000 followers on her Instagram.
Currently, her rate card sets the cost of a single piece of sponsored
content from $5,000 to $15,000, but she explained to Harper’s Bazaar
that this rate can go up or down depending on the number of posts a
brand requires, and length of her relationship with the company in
question.
And that’s just the tip of the iceberg; according to Miss Bernstein, when she hits one million
followers, she will be able to charge ‘a good amount more’ for sponsored content.
Indeed, Miss Bernstein is edging towards the top of the new
Instagram economy, through which savvy social media stars are
translating an ever-increasing tally of followers into a lucrative
business, which – if their accounts are considered as ‘bankable’ as Miss
Bernstein’s – could earn them millions of dollars a year.
Miss Bernstein explains that the range for Instagram accounts with a
few hundred thousand followers is from around $500 to $5,000 per post,
but accounts with upwards of six million followers can earn anywhere
between $20,000 and $100,000 a shot.
Industry estimates say brands spend more than a $1 billion per year
on sponsored Instagram posts, and that figure shows no signs of
decreasing any time soon.
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