The most recent news on the Network Marketing landscape was a positive report in April from Network Marketing Advisor (NMA) which said that network marketing revenue growth is on track for the second consecutive year and will remain so, thanks to the new wave of growth driven by the growing popularity of the new social network platforms.
As per the report, total revenue from network marketing rose 7.6% in the first quarter of 2017, to $14.4 million, up from $11.6 million in the same period last year.
This growth comes on the back of a 9.5% rise in revenue from marketing services during the same quarter.
NMA also expects the market to reach $30 billion in 2020, up by $3 billion from $18 billion in 2017.
In the second quarter of this year, NMA expects the growth rate to be even higher, at 14.8%, up from 11.2% in Q2 2017.
This is due to the introduction of a new platform, Google Cloud Platform (GCP), which is now able to deliver more than 20,000 new and unique social networking and online marketing platforms, with up to 60% more channels available for the platform.
The report also mentioned that network marketers have been enjoying an overall boost in revenues due to a more favourable regulatory environment and increased customer awareness.
The network marketing industry in the US grew by 10% in 2017, compared to 2016.
While the US industry was expected to remain flat at about 10% growth, the growth was boosted by the launch of GCP, which now has a market share of over 30%.
This is expected to continue in 2018, with NMA predicting that growth in the market will reach 20% in 2020.
The most interesting news on this front is that the industry is experiencing a massive growth in global network marketing.
According to the NMA, global network marketers are estimated to spend $1.7 trillion globally in 2017 alone, with revenues expected to grow by 27% in 2018 to reach an estimated $2.8 trillion.
According to NMA chief marketing officer, Paul Pappas, the reason for this surge is due largely to the rise in the number of channels and the rise of new platforms.
He said: “As the platform ecosystem evolves, we see an opportunity for growth in both network marketing and marketing services as the growth of these services continues to drive the growth in revenue.”
According to the report from NMA: “We believe that the increase in growth in network marketing could be the catalyst for a sustained period of growth in total revenue.
In the future, we expect to see more channel growth driven mostly by growth in channels of traditional marketing.”
The network market is growing by a huge margin, according to the analyst.
Nma expects to see the growth increase in the second half of 2018, as the platform continues to grow.
The industry’s growth is also accelerating in the U.S. and Europe, with the U,K., Netherlands and Belgium in the top three countries for network marketing spending.
The market in China, Japan and India, meanwhile, are also in the process of catching up to the U/A market in the United States.
In 2018, the average U.K. network marketing spend was $5,000, while the average Japanese network marketing budget was $1,000.