A new report highlights the way that a fashion subculture has been overtaken by big business.

A new survey of a large number of streetwear enthusiasts suggests that the influence of influencers has been wildly overstated. Only a third of those surveyed said social media influencers were the most credible figures in streetwear. They were more likely to be impressed by musicians and "industry insiders."

Still, in a second survey of people who work in the streetwear industry, a majority of the respondents said that they spent between a quarter and three-quarters of their marketing budget "on influencers."

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A survey of hype