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High on Bitcoin: Evidence of emotional contagion in the YouTube crypto influencer space

Author

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  • Meyer, Eva Andrea
  • Sandner, Philipp
  • Cloutier, Bernard
  • Welpe, Isabell M.

Abstract

Video blogs (vlogs) on content sharing platforms continue to grow in importance in online marketing. We show the strong influence that vloggers exert on their audience in the quickly expanding blockchain, crypto-assets, and Web3 industry. Measuring the correlation of sentiment in the title and transcript of 11,954 videos to that of cumulatively 3.6 million viewer comments, we find significant emotional contagion across all seven selected YouTube Bitcoin vlogs, all of which—in line with the gender imbalance of both Web3 and the YouTube influencer sphere—are hosted by men. The effect of emotional contagion is more pronounced for negative than positive emotions, and, although emotional bonds are said to intensify with recurring exposure to an influencer, it does not increase over time. The findings are relevant for marketers in blockchain-based markets, for financial regulators to understand the disruption potential exerted by crypto vloggers, and for crypto vlog viewers.

Suggested Citation

  • Meyer, Eva Andrea & Sandner, Philipp & Cloutier, Bernard & Welpe, Isabell M., 2023. "High on Bitcoin: Evidence of emotional contagion in the YouTube crypto influencer space," Journal of Business Research, Elsevier, vol. 164(C).
    • Handle: RePEc:eee:jbrese:v:164:y:2023:i:c:s0148296323002084
    DOI: 10.1016/j.jbusres.2023.113850
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    Citations

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    Cited by:

    1. Colombo, Jéfferson Augusto & Yarovaya, Larisa, 2024. "Are crypto and non-crypto investors alike? Evidence from a comprehensive survey in Brazil," Technology in Society, Elsevier, vol. 76(C).
    2. Tan, Teck Ming & Salo, Jari & Brashear Alejandro, Thomas G. & Wei-Han Tan, Garry & Ooi, Keng-Boon & Dwivedi, Yogesh K., 2024. "Guest editorial: A blockchain-based approach to marketing in the sharing economy," Journal of Business Research, Elsevier, vol. 177(C).
    3. Shuqair, Saleh & Filieri, Raffaele & Viglia, Giampaolo & Mattila, Anna S. & Costa Pinto, Diego, 2024. "Leveraging online selling through social media influencers," Journal of Business Research, Elsevier, vol. 171(C).
    4. Alan D. Jagolinzer, 2024. "Market and regulatory implications of social identity cohorts: a discussion of crypto influencers," Review of Accounting Studies, Springer, vol. 29(3), pages 2298-2317, September.
    5. Meyer, Eva Andrea & Welpe, Isabell M. & Sandner, Philipp, 2024. "Testing the credibility of crypto influencers: An event study on Bitcoin," Finance Research Letters, Elsevier, vol. 60(C).

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