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The economics of influencers and social media stardom

Author

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  • Gänßle, Sophia
  • Budzinski, Oliver

Abstract

This chapter provides an overview of the economics of influencers and social media stardom. It provides the state-of-research regarding success factors, revenue and payment models, social media platforms and ecosystems, and welfare effects. It describes the role of social media content providers within the media industries and explores the differences and similarities of this new innovative element in media markets compared to its more traditional counterparts (traditional stars and traditional media industries).

Suggested Citation

  • Gänßle, Sophia & Budzinski, Oliver, 2023. "The economics of influencers and social media stardom," Ilmenau Economics Discussion Papers 178, Ilmenau University of Technology, Institute of Economics.
    • Handle: RePEc:zbw:tuiedp:178
    as

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    References listed on IDEAS

    as
    1. Schnellenbach Jan, 2018. "On the behavioral political economy of regulating fake news," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 68(1), pages 159-178, March.
    2. Jean‐Charles Rochet & Jean Tirole, 2006. "Two‐sided markets: a progress report," RAND Journal of Economics, RAND Corporation, vol. 37(3), pages 645-667, September.
    3. Adler, Moshe, 1985. "Stardom and Talent," American Economic Review, American Economic Association, vol. 75(1), pages 208-212, March.
    4. Patrice Bougette & Oliver Budzinski & Frédéric Marty, 2022. "Self-Preferencing and Competitive Damages: A Focus on Exploitative Abuses," Post-Print halshs-03620661, HAL.
    5. Budzinski Oliver & Mendelsohn Juliane, 2023. "Regulating Big Tech: From Competition Policy to Sector Regulation?," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 72(1), pages 215-255, December.
    6. Kolo, Castulus & Haumer, Florian, 2018. "Social media celebrities as influencers in brand communication: An empirical study on influencer content, its advertising relevance and audience expectations," Journal of Digital & Social Media Marketing, Henry Stewart Publications, vol. 6(3), pages 273-282, October.
    7. David Evans & Richard Schmalensee, 2007. "The Industrial Organization of Markets with Two-Sided Platforms," CPI Journal, Competition Policy International, vol. 3.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    social media; superstars; influencer; platforms; stardom; content producers; YouTube; Instagram; TikTok; gatekeepers;
    All these keywords.

    JEL classification:

    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
    • Z10 - Other Special Topics - - Cultural Economics - - - General
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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