Most brands are increasing their influencer marketing budgets. Many creators say brand deals are drying up. Both are true: More money is flowing into influencer marketing, but new high-profile partnerships are harder than ever for creators to come by.

Key Question: How are the dynamics of influencer-brand deals evolving, and who’s winning and losing?

Key Stat: US marketer spending on sponsored content on social media will rise by 16.0% this year to $8.14 billion.