Subjects: SVY, HSP
Rare Beauty Dominates Hispanic-Owned Beauty Brands for Earned Media Value So Far in 2023
CreatorIQ's latest Share of Influence report examines Hispanic-owned cosmetic companies and how creators are fueling year-over-year growth in Earned Media Value, impressions and more.
LOS ANGELES, Oct. 4, 2023 /PRNewswire-PRWeb/ -- CreatorIQ, the industry leader in creator intelligence and marketing solutions, today released a report identifying the Hispanic-owned beauty brands with the largest Share of Influence so far in 2023, as measured by Earned Media Value (EMV).
The Share of Influence report measures the impact and engagement of the most relevant and influential creators, which is highly correlated to brand lift, desirability, and Google searches. Additionally, CreatorIQ's Share of Influence reports have the proven ability to forecast future outcomes, including revenue growth, market share, and stock prices.
Rare Beauty, founded and owned by singer and actress Selena Gomez, takes the top spot, with creators generating a massive $410.5 million EMV for the brand January through August 2023. Additionally, Rare Beauty was the No. 1 U.S. cosmetics brand by EMV ($42.0 million) across the entire industry in August, beating out Charlotte Tilbury ($35.3 million EMV in August), MAC ($31.7 million), and Benefit ($31.0 million).
The topline analysis from CreatorIQ identified over 8K creators posting about Hispanic-owned beauty brands more than 190K times, driving an estimated 7 billion impressions, 425 million engagements, and $650 million EMV. This last figure constitutes a 13% year-over-year EMV increase for the Hispanic-owned cosmetics space as a whole, which also enjoyed respective 67% and 64% YoY growths in impressions and engagements.
The top five Hispanic-owned beauty brands for January-August this year by EMV are:
- Rare Beauty -- $410,466,595
- Sigma Beauty -- $51,101,914
- Beautyblender -- $26,379,605
- Glamlite -- $20,307,732
- Melt Cosmetics -- $16,702,694
Of these brands, Rare Beauty also boasted the most engaged community, with its fans averaging $31.1K EMV each. One of Rare Beauty's most effective posts came in March, when the brand debuted its smash-hit Soft Pinch Tinted Lip Oil. Social media star Jooshica shared an Instagram Reel of herself bonding with brand founder Selena Gomez at the product's launch party, inspiring $205.8K EMV.
While it didn't rank among the top five Hispanic-owned beauty brands, Reina Rebelde ($1.9M EMV) sported the cohort's most impressive year-over-year increase in EMV, rising 288% compared to January through August 2022. The brand, founded by Regina Merson, has also grown its impressions by 567%, upped engagements by a notable 813%, and increased its creator audience by 312% year-over-year.
"With more than $2.5 trillion in buying power, the U.S. Hispanic community continues to be an important demographic for marketers, with savvy Hispanic entrepreneurs launching brands that connect directly with the communities and values they care about," said Brit Starr, SVP of Marketing at CreatorIQ. "A perfect example of this is Selena Gomez and Rare Beauty, which has leveraged the power of social media and creators to dominate that part of the market."
About CreatorIQ
CreatorIQ is the engine powering creator-led marketing for the world's most innovative, iconic brands and agencies including AB InBev, Airbnb, Calvin Klein, CVS, Disney, H&M, Sephora, and Unilever. Our industry-leading data and robust technology help marketers discover, activate, optimize, and convert creator relationships at scale. By putting creators at the center of their marketing efforts, our clients unlock the full potential of creator relationships to expand brand reach, scale quality content production, grow customer engagement, and increase return on creator spend.
Founded in 2014, CreatorIQ is headquartered in Los Angeles with offices in San Francisco, Denver, Austin, Detroit, Chicago, Toronto, Miami, New York City, London, Auckland, and Kharkiv (UA). For more information, visit CreatorIQ.com.
Media Contact
Mike Gasbara, CreatorIQ, 1 5182278100, [email protected]
SOURCE CreatorIQ
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