The $500 Billion Story You Didn’t Pay For
For many organizations, the potential of earned media is still an undiscovered country.
Why Earned Media Is America’s Most Undervalued Marketing Asset
While brands in the United States are expected to spend more than $740 billion on advertising in 2025, a quieter, and arguably more credible form of media influence continues to shape public perception and drive decisions: earned media.
Industry analysis suggests that earned media across all sectors may be generating between $400 and $600 billion in annual value in the U.S. alone. Despite this, it remains one of the least measured and least funded components of the communications mix.
What Is Earned Media?
Earned media refers to unpaid brand exposure, news stories, product reviews, social media mentions, podcast interviews, influencer posts, and word-of-mouth. Unlike advertising, it isn’t bought. It’s built, over time, through relevance, storytelling, and trust.
The Untapped Value
According to data from GroupM, U.S. advertising expenditures hit $740 billion in 2025. Yet studies by the Institute for Public Relations and measurement platform Onclusive suggest earned media can deliver a return on investment (ROI) of 3 to 5 times higher than paid media in terms of trust, influence, and impact on purchasing decisions.
“Earned media is the most trusted form of content among consumers,” said Richard Edelman, CEO of global PR firm Edelman, during the release of the 2024 Edelman Trust Barometer. “It has the power to shape perception and drive action in ways that paid media simply can’t.”
Industry Examples
Major brands and sectors are increasingly relying on earned media to reach audiences overwhelmed by advertising.
Apple’s launch events generate hundreds of millions of dollars in global unpaid media coverage, including feature stories, tech reviews, and social chatter, none of which the company pays for directly.
Procter & Gamble reportedly cut over $200 million in digital advertising in 2018 but saw no impact on sales. It later shifted focus toward more accountable media and earned influence.
In the travel sector, Brand USA campaigns consistently deliver strong earned media returns, with one study noting that for every $1 invested, nearly $32 is generated in visitor spending, much of that driven by press and word-of-mouth.
Why It’s Overlooked
One major reason for the underinvestment? Measurement.
“Most organizations struggle to quantify the impact of earned media because it’s not as instantly trackable as a click or an impression,” said Mark Weiner, Chief Insights Officer at PublicRelay and author of PR Technology, Data and Insights. “But just because it’s harder to measure doesn’t mean it’s not powerful.”
According to Meltwater, earned media measurement models vary widely, and without standardization, many CFOs discount its value when planning budgets.
What’s Changing
Emerging technologies are starting to bridge the gap. AI-powered tools like Lookatmedia™ AI Media pitch solution and Onclusive’s content scoring engine allow organizations to link earned media to business outcomes, including website traffic, lead generation, and even revenue.
“Earned media is no longer just about brand reputation,” said Erica Bartsch, Head of Strategy at Onclusive. “It’s about measurable influence. The companies that understand this are getting ahead without spending more.”
A Billion-Dollar Blind Spot
If even a fraction of the national ad budget were redirected into storytelling, media relations, and third-party validation, the shift could unlock tens of billions of dollars in influence and help restore trust in a fragmented media landscape.
In the words of Edelman again: “Trust is the ultimate currency. And earned media builds it.”
In a noisy world, people don’t believe what you say about yourself. They believe what others say about you. That’s the story earned media tells, and its value is just beginning to be understood.