<p>The continued rise and integration of virtual influencers into social media have impacted the structure and financial flows within the influencer economy. This study identifies the diverse range of actors present within the influencer economy, along with an examination of the financial flows between these actors, the labour required from them, and the control held by them. This research paper subsequently derives a conceptual framework of the current influencer economy from existing concepts and real-world examples, bridging the two literature bodies of human and virtual influencer research and linking work across marketing, media studies, and economics. This paper highlights the important role that intermediaries play within the influencer economy, along with the significant control that brands can reclaim with the use of virtual influencers, as well as the pressure exerted by many actors within the economic structure onto human social media influencers.</p>