Affiliate Marketing Statistics 2026: Spend, Niches and ROAS

US affiliate marketing spending increased by 49.8% from $9.1 billion in 2021 to $13.62 billion in 2024, according to the Performance Marketing Association (PMA), the industry’s trade association. The PMA’s affiliate marketing statistics also show that the investment generated $113 billion in e-commerce sales, accounting for 9.4% of all US e-commerce sales.

Growth at the channel level now sits beside pressure at the publisher level, where search traffic decides how many readers ever reach an affiliate link. Future plc’s eCommerce affiliates revenue fell 27% to £32.3 million from £44.5 million in the half-year ended March 31, 2026, or 24% organically.

Key Takeaways

• US affiliate spending grew at a compound annual growth rate of 14.42% from 2021 to 2024, twice the pace of the broader e-commerce market.
• Retail’s share of US affiliate spend fell from 76% to 63%, while telecommunications more than doubled from 3% to 7%.
• 69% of affiliate publishers said they are concerned that recent Google actions, including AI Overviews, are reducing site traffic and affiliate revenue.
• Future plc’s eCommerce affiliates organic revenue declined 24% in the half-year ended March 31, 2026, with vouchers declining only 6% during the period.
• NerdWallet’s consumer credit card revenue decreased by $8.6 million in the second quarter of 2026, primarily due to continued pressures in organic search traffic, while its wider consumer revenue still rose 8% on personal loans and deposit accounts.
• Only about 10% of affiliate marketing content on YouTube and Pinterest contained any disclosure in a study of over 500,000 videos and 2.1 million pins.

Editor’s Choice

• US affiliate spend: $13.62 billion in 2024.
• Affiliate-driven e-commerce sales: $113 billion in 2024.
• Share of sales at brands using affiliates: an estimated 15 to 20% of sales for companies that use affiliate marketing strategies.
• Travel return on ad spend: $19 for every dollar invested, per the PMA.
• US e-commerce sales, Q2 2026: $340.2 billion, or 17.1% of total retail sales, per the US Census Bureau.
• Top Amazon Associates fixed rate: 10.00% for Luxury Beauty, Luxury Stores Beauty and Amazon Explore, per Amazon’s commission schedule.

Affiliate Marketing Statistics: US Spending by Year

• US affiliate marketing spending reached $13.62 billion in 2024, a 49.8% increase over 2021.
• Affiliate investment in 2021 was 47% higher than in the PMA’s previous industry report for 2018.
• The study behind the 2021 figure, with underlying data provided by PwC, drew on data from seven affiliate networks and platforms, including Awin, CJ, Partnerize, Rakuten Advertising and ShareASale.
• The estimates cover the entire industry, including participating and non-participating networks and house programs that companies manage with homegrown toolsets.

Source: Performance Marketing Association, 2019, 2022 and 2025 studies

About This Data

• Compiled from 10 sources: 3 Performance Marketing Association study releases, 4 company results releases and filings, 1 US Census Bureau release, Amazon’s Associates commission schedule, and 1 peer-reviewed study.
• Sources are dated September 2018 to August 2026, and PMA figures cover the US market about a year after the period they measure.
• Figures are reviewed as sources publish new editions.

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Most Popular Affiliate Marketing Niches by Spend

• Retail remains the dominant vertical, though its share of affiliate spend fell from 76% to 63% as other sectors gained ground.
• Telecommunications more than doubled its share of affiliate spend, from 3% to 7%, while financial services grew to 15% and travel expanded to 9%.
• Linus Gregoriadis, Director of London Research, pointed to a significant diversification: “Finance, Travel, and Telecom brands have substantially increased their affiliate investments”.

What are the most popular affiliate marketing niches?

Retail is the dominant affiliate vertical with 63% of spend, ahead of financial services at 15%, travel at 9%, and telecommunications at 7%, based on the PMA Industry Study 2025. Linus Gregoriadis, Director of London Research, said finance, travel and telecom brands have substantially increased their affiliate investments.

Recent Developments

• August 18, 2026: The U.S. Census Bureau estimated second-quarter 2026 retail e-commerce sales at $340.2 billion, up 12.2% from the second quarter of 2025.
• August 13, 2026: Grandstand, formerly Gambling.com Group, reported second-quarter revenue of $37.8 million and said non-SEO revenue accounts for two-thirds of revenue in its marketing business.
• August 6, 2026: NerdWallet reported second-quarter revenue of $197.3 million, up 6% year over year.
• August 6, 2026: Ziff Davis reported second-quarter Technology & Shopping revenue of $76.7 million, down 5.0% from $80.8 million.
• May 14, 2026: Future plc reported half-year revenue of £349.1 million, down from £378.4 million, with lower programmatic and eCommerce affiliates revenue driving its adjusted EBITDA margin down to 24%.

Affiliate-Driven E-Commerce Sales

• Affiliate marketing investment generated $113 billion in e-commerce sales in the PMA Industry Study 2025.
• That total accounts for 9.4% of all US e-commerce sales and an estimated 15 to 20% of sales for companies that leverage affiliate marketing strategies.
• In 2021, affiliate marketing investment drove $71 billion in e-commerce sales.
• Affiliate-driven sales were about 59% higher in the 2025 study than in the 2021 figure.

Affiliate Marketing ROAS by Sector

• Travel generated $19 for every dollar invested in affiliate marketing.
• Department stores returned $21 per $1 spent, among the retail categories with the strongest ROAS.
• The 2021 study put the average return on ad spend at 12 to 1, meaning every dollar invested drove $12 in e-commerce revenue.
• The study covering 2018 found an average ROAS of 12 to 1 when financial institutions were excluded.

Key finding: The PMA Industry Study 2025 found department stores ($21 per $1), office supplies ($20 per $1) and automotive parts ($19 per $1) showing the strongest returns within retail. Those categories sit well above the retail sector’s overall return, so a merchant’s category can lift affiliate returns well above the sector figure.

US E-Commerce Growth Behind Affiliate Sales

• Seasonally adjusted US retail e-commerce sales reached $340.2 billion in the second quarter of 2026, up 3.8% from the first quarter.
• Online shopping keeps taking share from stores: E-commerce sales rose 12.2% from the second quarter of 2025, while total retail sales of $1,986.5 billion rose 6.7%.
• E-commerce’s share of total retail sales climbed from 16.3% in the second quarter of 2025 to 17.1% in the second quarter of 2026.
• On a not adjusted basis, e-commerce sales totaled $329.5 billion, or 16.4% of total sales.

Affiliate Publisher Types and Spend Share

• In 2021, content and subnetwork publisher investment accounted for 27% of total channel investment.
• Cashback, rewards and loyalty publishers, together with coupon, voucher and rebate publishers, increased their share of 2021 category spending from previous years.
• Sixteen affiliate publishers of multiple sizes and types contributed insights to help determine the total size of the market.
• Publisher diversity increased in the 2025 study, with content creators and bloggers gaining a larger share of investment.

Source: Performance Marketing Association, 2019 and 2022 studies

Content creators now compete for budgets also tracked in our creator economy statistics, but an affiliate deal pays on a qualifying purchase or sign-up rather than on reach.

Affiliate Publisher Confidence and Google Concerns

• 69% of affiliate publishers are concerned that recent Google actions, including algorithm changes and the advent of AI Overviews, are reducing site traffic and affiliate revenue.
• NerdWallet’s small and mid-sized business (SMB) revenue of $22.1 million was down 11% year over year, primarily due to continued pressures in organic search traffic.
• Future plc’s eCommerce affiliates’ organic revenue declined 24%, reflecting lower website audiences due to disruption in the search ecosystem.

Answers that resolve a query on the results page are the same shift tracked in our AI Overviews statistics, and affiliate pages feel it because their revenue depends on the click.

Is affiliate marketing still worth it in 2026?

Brands are still paying for the channel: US affiliate spending grew to $13.62 billion in 2024. For publishers, the picture is split: 54% are confident or very confident in their affiliate business, while 69% are concerned that Google actions are reducing traffic and revenue.

What is a major challenge in affiliate marketing?

For publishers, one pressure point is search traffic. 69% of publishers in the PMA survey said they are concerned that recent Google actions, including algorithm changes and AI Overviews, are reducing site traffic and affiliate revenue. Future’s eCommerce affiliates revenue declined 24% organically as search disruption lowered website audiences.

Amazon Associates Commission Rates by Category

• Amazon pays a fixed 10.00% commission on Luxury Beauty, Luxury Stores Beauty, and Amazon Explore purchases.
• Gift cards, wireless service plans, alcoholic beverages, and food prepared and delivered from a restaurant earn 0.00%.
• Purchases in categories not listed in Amazon’s fixed-rate table earn a 4.00% fixed rate.

Category mix shapes what a review page earns per sale, since an Amazon purchase pays 10.00% in Luxury Beauty but 1.00% in Grocery.

Amazon Associates Bounty Payouts

• A Prime Free Trial sign-up earns a $12.00 bounty, the same rate as a Prime Paid Membership purchase.
• Prime for Young Adults and Prime Access trials or memberships also pay $12.00.
• Each eligible Prime Video stream pays $0.25.

Affiliate Revenue at Future plc

• Future plc’s eCommerce affiliates revenue fell 27% (24% organic) to £32.3 million in the half-year ended March 31, 2026.
• Future said vouchers were more resilient, declining only 6% during the period.
• Future’s adjusted EBITDA margin was 5 percentage points lower at 24%, largely driven by lower high-margin programmatic and eCommerce affiliates revenue.

Why it matters: Future’s UK digital advertising rose to £25.2 million from £22.5 million while eCommerce affiliates revenue fell to £32.3 million. Advertising a publisher sells directly held up better than revenue that depends on a reader arriving from search and clicking out to a merchant.

Search-Exposed Publishers in Q2 2026

• NerdWallet’s consumer revenue of $175.2 million increased 8% year over year, driven by personal loans and deposit accounts.
• Ziff Davis’s Technology & Shopping revenue fell 9.0% to $147.9 million in the six months ended June 30, 2026.
• Grandstand reiterated 2026 full-year revenue guidance of $165 to $170 million.

Source: NerdWallet and Ziff Davis second-quarter 2026 results, August 2026

NerdWallet ties part of its results to organic search, the traffic source whose AI-era changes we follow in AI SEO statistics.

Affiliate Disclosure Rates on Social Media

• Only about 10% of affiliate marketing content on YouTube and Pinterest contains any disclosures at all, measured on a sample that is a small fraction of the total number of videos on YouTube.
• The researchers examined whether content creators follow the FTC’s disclosure guidelines and how they word the disclosures.
• A user study with 1,791 participants found that users fail to understand shorter, non-explanatory disclosures.

Source: Mathur, Narayanan and Chetty, CSCW 2018

Worth noting: Presented at CSCW 2018, the study made design and policy suggestions to help improve advertising disclosure practices on social media platforms. It describes an earlier creator economy, so treat the disclosure rate as a historical baseline rather than a current reading.

Conclusion

In the most recent PMA study, US affiliate spending reached $13.62 billion and generated $113 billion in e-commerce sales. The money still flows to the channel; the open question is which publishers collect it. Future’s eCommerce affiliates revenue fell to £32.3 million from £44.5 million, while telecommunications, financial services and travel each took a larger share of affiliate spend as retail’s share fell.

Judging by Future’s revenue lines, publishers with voucher and direct advertising income look better placed than those relying on search-referred reviews. The next PMA study will show whether brands keep shifting budget toward pay-for-performance partners.