Forbes compiles its Top Creator list using a proprietary formula. The publisher weighs the earnings of potential honorees—this accounts for 50% of the weight—along with their follower count, engagement rate and Forbes Entrepreneur Score.
The Forbes Entrepreneur Score, which ranges from 1 to 4, rewards entrepreneurial creators over those that have, for example, made their money selling a preexisting product.
Despite the size of the creator economy, this is the first event of its kind, according to Mae Karwowski, founder and chief executive at influencer marketing firm Obviously. The speed with which the sector has grown has left the industry working to catch up. This year, for instance, is the first time Cannes will feature a dedicated festival for influencers.
“There is a strong desire from both parties to have a stronger relationship with one another,” Karwowski said. “This makes a lot of sense, and I think we will see more events like this.”
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Forbes’ franchise extension strategy
The event demonstrates the multichannel approach Forbes brings to its editorial franchises, according to Bertoni.
The publisher starts with a list—such as its 30 Under 30 or Billionaires List—then follows it with editorial features, a live event and a community.
The strategy enables the publisher to offer sponsors multidimensional ownership of a specific subject, while the community element creates an ongoing pool of alumni that Forbes can tap from time to time.
For its Creator Upfront, Forbes partnered with Walmart, which is promoting its recently launched Walmart Creator network.
Through the network, creators of any size can promote Walmart products and earn affiliate revenue when they generate sales, according to Jordana Beck, director of influencer marketing and Walmart Creator.
Walmart Creator only came out of beta last October, and it has a long way to go before it approaches the scale of competitor programs like Amazon Creator, according to Karwowski. But its vast selection of products, combined with its thousands of physical storefronts, make it an appealing partner for creators.
“Partnering with Forbes was an easy choice,” Beck said. “They have built trust in the space, and we’re both making big bets on creators.”
