Is Affiliate Marketing Worth it in 2024? ($15 Billion+ Industry) (2024)

Is affiliate marketing is still worth pursuing in 2024? Affiliate marketing’s starting point can be considered as a mutually beneficial relationship between sellers and market makers.

It has now grown into a multi-billion-dollar sector, therefore today’s affiliates and professional marketers have to reconsider its real value summation.

In this article, we seek to analyze the in’s and out’s of affiliate marketing to help the reader decide whether affiliate marketing is still trending.

Why You Might Be Doubtful Whether Affiliate Marketing Is Still Worth It In 2024

There are two camps for whom the question of affiliate marketing is still worth it might be relevant:

  • Advertisers, who would leverage affiliate marketing to have others promote their products and services
  • Publishers, who are the ones advertising the products and services of the advertisers to build a passive income

The latter are probably the ones who are most hesitant about whether affiliate marketing is still worth it if you haven’t started yet.

As with so many other examples when it comes to earning money, it might feel like you’ve “missed the boat” on affiliate marketing.

Just like you wish that you would have invested in Bitcoin a few years ago, you might sigh and tell yourself that you should have started with affiliate marketing earlier.

Perhaps you feel like the market is already saturated. All the profitable nicheshave been filled by now and those websites are very difficult – almost impossible even – to beat.

Is it still worth it to join an affiliate marketing program when so many others already have enrolled before you?

This might be true for some niches. For the most lucrative and popular topics, like insurance, travel, photography, and cooking, there are many websites that you would have to compete against when you’re just starting as an affiliate marketer.

In those cases, starting with affiliate marketing in 2024 might not be worth your time and effort. Pick your battles!

However, as you’ll discover if you keep reading, the affiliate market is still growing. More money is being spent on affiliate marketing every year, and new opportunities for topics and niches keep popping up.

Is it still worth starting with affiliate marketing in 2024? Yes, it sure is!

Is Affiliate Marketing Still Profitable In 2024?

Yes, affiliate marketing is still profitable. If anything, there is more money to be made than ever, because spending has skyrocketed.

Competition might have become a little stiffer, but as you will see in the rest of this article: it is certainly still worth it to start affiliate marketing in 2023.

According toa 2016 research by eMarketer, retailers in the U.S. spent about $4.7 billion on affiliate marketing. This represented about 7.5% of their total digital spend.

The affiliate marketing forecast by Forrester, also from 2016, predicted that the US affiliate marketing spend would grow to over $6.8 billion by 2020, contributing to about $70 billion in sales. They foresaw a steady rise in annual spending (in millions):

Annual Values from 2015 to 2020

We should keep in mind that this prediction stems from a time when the world hadn’t even heard of COVID-19. Since the coronavirus crisis seems to have sped up digitalization and online shopping, this number might turn out to be a low estimate.

This sentiment is underlined by the Awin 2021 report on affiliate marketing. According to this report, the US affiliate market has already passed the $8.2 mark that Statista foresaw for 2022.

It’s probably not surprising that the US is by far the biggest market when it comes to affiliate marketing. What’s more, they’re still the fastest growing market globally, according to Awin’s predictions.

Digital ad spend (USD)(M)Affiliate ad spend estimate (USD)(M)Projected ad spend growth 2021
Eastern Europe8,90017011%

The consistent growth of the spend in affiliate marketing means that new advertisers will constantly be drawn to this lucrative way of marketing their product.

This means an ever-growing variety of products and services to promote as a publisher.

The market isn’t saturated, because the market keeps on expanding at an impressive rate.

In other words: there are always new niches to fill. Affiliate marketing is still worth it in 2024, you just need to find the topic that’s right for you, where the competition is still relatively low.

Is it worth starting affiliate marketing in 2024 as an advertiser?

We’ve mainly talked about getting into affiliate marketing as a publisher. But, it should have become clear from the figures presented above, that affiliate marketing is also still very much worth getting into as a publisher.

According to Hosting Tribunal:

With the rising popularity of online shopping, blogs, vlogs, influencers, etc., affiliate marketing is simply one of the best ways to market your product online and reach your intended audience.

With other online marketing channels – such as Google Ads or social media marketing – getting more competitive and expensive, affiliate marketing offers a great alternative to boost the awareness of your brand, product, or service.

Final Thoughts

Asthis Google Trends graph shows, interest in affiliate marketing has quadrupled over the past five years. With people seeking to earn (extra) money from their homes and businesses trying to market their products and services online.

Affiliate marketing is still worthwhile for advertisers, who keep finding their way into the affiliate marketing market.This ongoing growth of the affiliate marketing market means that affiliate marketing programs are still worth it for new publishers as well.

This means there’s plenty of opportunity to focus on topics with relatively low competition, which certainly makes affiliate marketing still worth it for both advertisers and publishers.

Is Affiliate Marketing Worth it in 2024? ($15 Billion+ Industry) (2024)


Is affiliate marketing worth it in 2024? ›

Statista shows that affiliate marketing is a growing market. The industry was worth $8.2 billion in 2022, a 10% increase from the year before. It's expected to jump to $21.1 billion in 2024 and reach $15.7 billion by 2024. According to a report by Astute Analytica, it's going to reach a whopping $36.9 billion by 2030.

What is the scope of affiliate marketing in 2024? ›

In 2024, affiliate marketing's future is shaped by trends like AI integration, mobile prioritization, collaboration with nano and micro-influencers, and a focus on social proof. The industry is moving towards personalized, targeted, and results-driven strategies.

What does Forbes say about affiliate marketing in 2024? ›

As we embrace the opportunities of 2024, Forbes continues to champion affiliate marketing as a cornerstone of entrepreneurial triumph.

How much is affiliate marketing industry worth? ›

The global affiliate marketing industry is worth over $17 billion. The global affiliate marketing industry is expected to grow to a market size of $27.78B by 2027. The global affiliate marketing industry is expected to increase by 63% in the next 4 years.

Can I make 100k a month with affiliate marketing? ›

Beginner – $0 to $1,000 per month. Intermediate – $1,000 to $10,000 monthly. Advanced – $10,000 to $100,000 per month. Super affiliate – over $100,000 monthly.

What is the future of affiliate marketing 2025? ›

By 2025, over 30% of affiliate marketers will shift to less saturated niches outside health, wealth, and relationships. Affiliate partnerships with micro-influencers are predicted to grow by 25% annually through 2026.

How to start affiliate marketing 2024? ›

How to Start Affiliate Marketing
  1. Pick a platform. You have a few considerations when deciding on a content marketing platform: ...
  2. Choose your niche. ...
  3. Find affiliate programs. ...
  4. Review products in your niche. ...
  5. Create kick-butt content. ...
  6. Drive traffic to your site. ...
  7. Get clicks. ...
  8. Get conversions.

Is there a future for affiliate marketing? ›

Affiliate marketing's future is changing as the online world evolves. It's a powerful way for businesses to reach more customers and make money. With more people shopping online and using the internet, affiliate marketing is becoming even more important.

How long does it take to succeed in affiliate marketing? ›

How long does it take to make money as an affiliate marketer? Based on my experience and speaking with many affiliate marketers, on average, it takes around six to 12 months to start earning money as an affiliate marketer and around two years to earn enough money to quit your day job.

Do you need an LLC to do affiliate marketing? ›

If you're treating affiliate marketing as a hobby or side project, you may not feel the need to establish an LLC. However, if you're committed to growing your affiliate marketing business into a significant source of income, forming an LLC is a prudent step.

Is affiliate marketing recession proof? ›

Thus, affiliate marketing is a low-risk, financially responsible means of building awareness and sales during economic slowdowns, as brands hold the power in setting the price of each conversion for themselves.

Do people make money with affiliate marketing? ›

It's hard to know for sure, but here's a general breakdown of how much affiliate marketers make from several reliable sources: Nearly 57% of affiliate marketers make less than $10,000 a year. 16.9% of affiliate marketers make more than $20,000 a year.

Who is the highest paid affiliate marketers? ›

we'll dive into the top ten richest affiliate marketers, and how they carved their paths to digital marketing success:
  1. Pat Flynn. ...
  2. John Chow. ...
  3. Jeremy Schoemaker. ...
  4. Neil Patel. ...
  5. Zac Johnson. ...
  6. Charles Ngo. ...
  7. Missy Ward. ...
  8. Shawn Collins.

What is more profitable than affiliate marketing? ›

Business Control – Dropshipping and eCommerce offer more control over your business and earnings than affiliate marketing, as you set the profit margins for your products. Affiliate programs have fixed commissions, giving you less control and requiring you to rely on someone else's product and business.

Can affiliate marketing make you a millionaire? ›

While it is possible to make a substantial income through affiliate marketing, becoming a millionaire is not guaranteed. It takes a lot of hard work, dedication, and strategic planning to build a successful affiliate marketing business.

Is there a future in affiliate marketing? ›

In fact, the forecasted compound annual growth rate (CAGR) of affiliate marketing is 7.7% from 2022 to 2030, as per Astute Analytica's 2022 Market Research Report. This is why potential affiliates and businesses worldwide have a bright future in affiliate marketing.

What is the future of affiliate marketing? ›

Affiliate marketing's future is changing as the online world evolves. It's a powerful way for businesses to reach more customers and make money. With more people shopping online and using the internet, affiliate marketing is becoming even more important.

What is the future of affiliate marketing in 2030? ›

As per statistics, the affiliate marketing industry is projected to reach $36.9 billion by 2030, with a compound annual growth rate of 7.7% from 2023 to 2030. The spending on affiliate marketing in 2023 is anticipated to reach around $13 billion, reflecting its increasing significance in the digital marketing realm.

Is affiliate marketing the next big thing? ›

There's a reason affiliate marketing is the future of ecommerce. Affiliate marketing has been a critical strategy in ecommerce for nearly a decade. In fact, Influencer Marketing Hub projects that affiliate marketing spend will reach $15.7 billion globally by 2024.

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