Earned Media Value (EMV): What It Is and How to Calculate It

Earned media value (EMV) is a highly powerful metric for measuring the impact of your marketing efforts. It helps you put a dollar amount on the value your brand gains from organic mentions, shares, and other unpaid exposure. 

With influencer marketing and digital PR now a major force in advertising, EMV has become a go-to tool for brands looking to track their success. Marketers use it to understand how much value influencer collaborations bring on platforms like Instagram and TikTok, comparing organic reach to paid ads. PR teams also rely on EMV to measure the impact of media coverage and viral content, helping them see how press mentions and social buzz build visibility and trust.

However, although EMV is valuable, it is not always easy to figure out. In fact, many marketers struggle to calculate it accurately and apply it in a way that drives real results. 

Our goal today is to help you with this.

We are going to explain what earned media value is, how you calculate it, and why it’s such a crucial performance indicator.

• What Is Earned Media Value?
• Why Earned Media Value Matters in Marketing Today
• Earned Media Value vs. Paid and Owned Media Value
• How to Calculate Earned Media Value
• Earned Media Value Example

What Is Earned Media Value?

Earned media value is a metric used to calculate the value generated by different promotional activities, such as PR campaigns and organic third-party mentions. It helps businesses understand the impact of unpaid media exposure and compare it to traditional paid advertising. 

One area where EMV is particularly useful is influencer marketing, specifically when influencers mention your brand without direct payment. This includes situations where they talk about your product in a review, feature it in their content, or recommend it to their audience organically. EMV helps you measure the impact of these unpaid mentions by tracking engagement, reach, and the overall reaction to your brand. It allows you to see what is working, identify areas for improvement, and better connect with your target audience to boost brand awareness.

Calculate the ROI of your influencer marketing efforts. 

Earned media value can also help you evaluate which influencers might bring the most organic value to your brand. By calculating the market worth of third-party mentions, you can determine which influencers naturally generate strong audience responses and align with your brand’s goals. While EMV does not apply to paid sponsorships, it can still be a helpful tool during negotiations, as it provides a benchmark to assess an influencer’s past organic impact when determining fair pricing for a potential collaboration.

Why Earned Media Value Matters in Marketing Today

Understanding earned media value (EMV) is one thing, but knowing how to use it to  improve your marketing strategy is where the real value lies. Tracking EMV gives you real insight into what is working, what is not, and where you should focus your efforts. It helps you spend smarter, choose the right influencers, and prove the impact of your marketing beyond basic engagement numbers.

Here’s how EMV can help you make better decisions.

1. Track Influencer Performance

Not all influencers bring the same value, and EMV helps you figure out which ones are truly making an impact. Instead of relying on surface-level metrics like follower count or likes, EMV gives you a better understanding of the actual return an influencer delivers. Are they driving conversations? Are people engaging with their content in meaningful ways? By tracking EMV, you can see which influencers bring the most visibility and credibility to your brand. This allows you to make more informed decisions about who to collaborate with and where to focus your influencer marketing efforts.

2. Optimize Budget Allocation

Marketing budgets are not unlimited, so it's essential to invest in strategies that actually work. EMV helps you identify which marketing efforts are driving the most value so you can spend your budget wisely. If a particular influencer or PR strategy is generating strong returns, you can confidently allocate more resources to it. On the other hand, if certain campaigns are underperforming, you can adjust your approach or shift funds elsewhere. Essentially, instead of guessing where to put your money, EMV gives you data-backed insights that help you maximize your return on investment.

3. Build Credibility with Data-Driven Insights

Making marketing decisions based on gut feelings or assumptions can be risky. EMV provides concrete data that helps you understand how well your brand is performing in the eyes of your audience. When you can measure the impact of influencer partnerships and media coverage, it becomes easier to demonstrate success to stakeholders and refine your strategy over time. EMV also helps you spot trends, track consumer sentiment, and stay ahead of industry changes. By using these insights, you can make more confident, informed decisions that strengthen your brand’s credibility and long-term success.

Earned Media Value vs. Paid and Owned Media Value

Earned media value is just one piece of the puzzle. To fully understand its impact, it helps to compare it with paid and owned media value, two other key components of a well-rounded marketing strategy.

Paid media value comes from any advertising you spend money on, like sponsored posts, display ads, or influencer collaborations where you pay for promotion. It gives you direct control over reach, but results can disappear the moment you stop spending.

Owned media value refers to the content and platforms your brand controls, such as your website, blog, social media channels, and email marketing. Since you own these spaces, you can create long-term value without ongoing ad costs. However, building an engaged audience on owned platforms takes time and effort.

Earned media value is different because it comes from people talking about your brand without direct payment. It includes things like customer reviews, social shares, media coverage, and organic influencer mentions. Since earned media is driven by trust and genuine engagement, it often has more credibility and long-term impact than paid media.

By understanding how these three types of media work together, you can create a more balanced marketing strategy that maximizes reach, credibility, and cost-effectiveness.

How to Calculate Earned Media Value

Calculating earned media value (EMV) can help you understand the real impact of your marketing efforts. The way you measure it depends on your campaign goals, content type, and communication channels.

One widely used method combines two key approaches: cost per mille (CPM) and cost per engagement (CPE). CPM focuses on the cost of reaching a certain number of people, while CPE measures how much you are paying for interactions such as likes and comments. Together, these metrics help brands assess their visibility and influence, contributing to a better understanding of their share of voice in the market.

To calculate EMV, you multiply the total number of users who saw your campaign (reach plus impressions) by the average cost per thousand impressions (CPM). Then, you add the total number of interactions (likes and comments) multiplied by your cost per engagement (CPE).

The formula looks like this:

EMV = (Impressions + Reach) x CPM + (Likes = Comments) x CPE

This might seem complicated at first, so let’s break it down step by step.

Breaking Down Impressions, Reach, and Engagement Metrics

Before calculating EMV, it is important to understand the key metrics that shape it.

• Reach is the total number of unique people who see your content. If your campaign reaches 10,000 different users, your reach is 10,000.
• Impressions count the total number of times your content is displayed. If one person sees an ad three times, that counts as three impressions.
• Engagement refers to actions like likes, comments, shares, and clicks. High engagement shows that your content is resonating with your audience rather than just being seen.

These metrics help determine how many people are exposed to your campaign, as well as how much they are interacting with it.

How to Calculate Cost per Mille (CPM)

Cost per mille (CPM), or cost per thousand impressions, is a standard way to measure the cost of reaching a large audience. It is often used in advertising to compare the efficiency of different campaigns.

The formula for CPM is:

CPM = (Total Campaign Cost ÷ Total Impressions) × 1,000

For example, if you spend $20 on a campaign that generates 10,000 impressions, your CPM would be:

CPM = ($20 ÷ 10,000) × 1,000 = $2 per 1,000 impressions

A lower CPM means you are reaching more people for less money, making your campaign more cost-effective.

How to Calculate Cost per Engagement (CPE)

While CPM measures visibility, cost per engagement (CPE) tracks how much you are paying for actual interactions. Engagements include likes, comments, shares, and clicks. In other words, actions that demonstrate audience interest.

The formula for CPE is:

CPE = Total Campaign Cost ÷ Total Engagements

For example, if you spend $500 on a campaign and get 1,000 interactions, your CPE would be:

CPE = $500 ÷ 1,000 = $0.50 per engagement

A lower CPE means your content is engaging people at a lower cost, which is a strong sign of an effective campaign.

Simplify Earned Media Value Tracking with Influencity

Tracking earned media value can be tricky, especially if you’re juggling multiple influencer campaigns, PR mentions, and social media interactions. Keeping up with impressions, reach, and engagement across different platforms takes time, and calculating EMV manually for each campaign can be a chore.

With real-time insights into reach, impressions, and engagement, Influencity makes it easier to assess the value of your earned media without spending hours pulling numbers from different sources.

Specifically, with Influencity’s platform you can:

• Track performance in real time. Get instant access to data on reach, impressions, and engagement across your influencer campaigns.
• Compare influencer impact. See which influencers are driving the most value so you can focus on the partnerships that work best.
• Make smarter budget decisions. Understand where your marketing spend is making the most impact and adjust your investments accordingly.
• Measure PR and social mentions. Track how media coverage and organic social shares contribute to your brand’s visibility and credibility.
• Create easy-to-read reports. Get clear insights that help you refine your marketing strategy and show results to stakeholders.

Earned Media Value Example

Now that we’ve covered how earned media value (EMV) is calculated, let’s wrap up today’s post by seeing how it works in a real-world scenario.

After running the campaign, you collect the following data:

• 10,000 impressions across Instagram and TikTok
• $2 CPM (cost per thousand impressions)
• 500 engagements, including likes, comments, and shares
• $200 CPE (cost per engagement)

Using the EMV formula:

EMV = (Impressions + Reach) × CPM + (Likes + Comments) × CPE

EMV = (10,000 + 8,000) × $2 + (500 × $200)

EMV = 18,000 × $2 + 500 × $200

EMV = $36,000 + $100,000

Total EMV = $136,000

This means that, based on industry-standard costs for impressions and engagement, the influencer’s organic impact is valued at $136,000. While this is not actual revenue, it gives you a useful benchmark to compare influencer performance, measure brand exposure, and see if your campaign made an impact. Whether you are a beauty brand collaborating with creators, a tech company launching a new gadget, or a fashion label promoting a seasonal collection, EMV helps you understand the real value of your marketing efforts.