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Fashion Cents

Here's how fake influencers are costing major companies more than $200 million a year.

Pilot Penny

Here's how fake influencers are costing major companies more than $200 million a year.

Last month, an in-depth report by The Atlantic broke down how fake influencers are taking advantage of social media platforms like Instagram to portray sponsorships. Brands are now being hit hard by the loophole and are reportedly losing $200 million USD (approx. £157 million GBP) on said influencers, in a study by New York marketing company Captiv8. The report highlighted social spending and pinpointed that brands paid as much as $2.1 billion USD (approx. £1.65 billion GBP) to influencers in 2017. 11-percent of those profiles were fake pointing to the fact that money was wasted. ELLE UK reports that previous...