Thailand’s influencer marketing boom sparks regulatory debates
The burgeoning influencer marketing trend is powering the local creator economy while simultaneously causing societal implications, thereby sparking debates over regulatory measures.
Thailand’s National Economic and Social Development Council (NESDC) and Nielsen’s data highlighted the meteoric rise of influencers, with over 13.5 million influencers in the ASEAN Economic Community, and more than two million influencers in Thailand alone. The scramble to produce engaging content has led to a focus on popularity over accuracy, leading to the spread of misinformation, illegal solicitation, and the promotion of harmful societal values.
The NESDC report also outlined the economic value generated by influencers. Globally, advertising and product reviews contributed to an economic value of about US$19 billion, with projections to skyrocket to US$140 billion by 2030. In Thailand, influencers, with earnings ranging from 800 baht (US$22) to 700,000 baht (US$20,000) per post, have drawn significant attention.
However, the proliferation of influencer content has also led to some negative societal impacts. This includes the promotion of harmful societal norms, like flaunting wealth, which can intensify financial strain as individuals may feel compelled to acquire goods and services beyond their means.
While some countries have implemented laws targeting influencers, such as China’s regulations banning content that flaunts wealth, Thailand lacks specific regulations for influencers. The NESDC suggested that for effective supervision, Thailand might need to redefine online media and adapt foreign laws to its social context.
However, Pawat Ruangdejworachai, the president of Media Intelligence Group, argued that rules alone might not be sufficient. He proposed promoting responsibility among influencers and parental control as alternative solutions.
Echoing this sentiment, Suvita Charanwong, the Chief Executive of influencer-hiring automation platform, Tellscore, advocated for self-regulation as the best way to minimise influencers’ impact. She warned that stringent laws could potentially hinder the growth of the creative economy.
Tellscore is engaging in educating its 100,000 influencers about content that violates laws, such as posts promoting alcohol and gambling, reported Bangkok Post.
In sum, while influencer marketing yields economic benefits, it also carries societal risks. The debate on how to navigate these challenges continues, with opinions divided between stricter regulations or self-regulation strategies.
