According to the latest industry statistics, the global influencer economy grew from $1.7 billion in 2016 to $21.1 billion in 2023 — and it's only expected to grow exponentially from here with advances in artificial intelligence. In 1988, Noam Chomsky and Edward S. Herman investigated how mass media sways audiences to conform to social norms without coercion, or what they called “manufacturing consent.” In her new book, “The Influencer Industry: The Quest for Authenticity on Social Media,” Dr. Emily Hund investigates how social media influencers have manufactured a new media economy to which we’ve unwittingly consented.
Hund, a research affiliate at the Center on Digital Culture and Society at the University of Pennsylvania’s Annenberg School for Communication, joins Bethany and Luigi to unpack this new digital landscape where influence has become a powerful currency, shaping not only news consumption and consumer behavior but the very fabric of modern capitalism. Together, they discuss whether influencers are empowered entrepreneurs rewriting market rules or victims of a system that commodifies identity. What are the hidden incentives driving influencer messaging and, thus, the news and content we receive?
Read an excerpt from Hund's book (Princeton University Press, 2023) on ProMarket.