It is widely recognized that Advertising Value Equivalency (AVE) is invalid and irrelevant as a measure of editorial publicity because:
- Editorial coverage can be negative.
- Editorial coverage can be neutral.
- Editorial articles often contain coverage of competitors, sometimes with favourable references to or comparisons with competitors.
- Editorial coverage can be poorly positioned which affects its impact.
- Editorial coverage can be poorly presented (i.e. ambiguous headlines, a brand name buried in the story, errors, etc.).
- Editorial coverage can be in non-target or low priority media
- AVE calculations are usually based on casual advertising rates which are typically higher than the rates negotiated for advertising campaigns.
- Ave measures a cost, not value. Value is measured from achievements of objectives such as audience reach, share of voice, recall of messages, and increasingly in outcome terms such as inquiries, leads or sales generated.